Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-02-26
WEAK SPOTS
In the Stock Market Afford the Bears an
Opportunity to Do Some Hammering.
Early Weakness Followed by
Improvement Mt the


Close.
NEW YORK, February 2a-The stock market
to-day was dull and stagnant except for d few
OF the leading shares though there was gem
eral heavy tone for most Of the day. The IN
terest in the dealings was centered almost en-
ttrely in the Granger and Southwestern stocks.
London was liberal seller of st. Paul In the
early trading. and the adyices pointed to the
publication at that center Of the passing
OF the dividend of preferred stock. which
induced freer realizations BY the for
eigners, and a marked impression was made on
both common and preferred stock, but as the
dividend is not due until April and the action
by the directors cannot be taken until next
the decline especiaiiy by the Western CON
tingeut and after the first drop the price OF
the stock was very well held.
Dispatches from Chicago stating that the
Missouri Pacific and the Union Pacific had not
signed the agreement on Saturday were circu-
lated, and had considerable effect upon the
first-named stock. which was afterward extend
were afterward disproved, and better feeling
prevailed toward the latter part Of the after
noon, which neutralized to some degree the
sharp losses of the early dealings. The bears,
however did not abandon the search for weak
spots, and a heavy drive was made. against the
Coalers in the afternoon, of which Reading bore
the brunt and was forced off fraction, while
the losses in the rest were insignificant.
In the early dealings st. Paul and Cotton Oil
were prominent for weakness, and the latter
dropped a point, but the movements in the
rest of the list were confined to the smallest
fractions without perceptble tendency in
either direction, and after the frst half hours
business the market sank into pronounced
dullness with an improving tendency toward
noon. The drive at the Coal stocks was made
after IL M. o'clock, and the influence of the
movement extended to the general list, which
sagged of slowly, while Manhattan ana Oregon
Improvement made decided declines. Toward
delivery hour there was some Improvement,
however, and after that time steady tone
marked the limited transactions, the market
finally closing dull and steady at about open
ing prices for the great majority of stocks
dealt in. Cleveland. Columbus, Cincinnati and
Indianapolis shows the handsome advance Of
24 per cent. but the rest of the list, almost
Without exception, are lower. st. Paul lost
", Pullman and Reading each per cent, and
others fractional amounts.
The railroad bond market was unusually dull
to-day, the total sales Of all issues aggregating
only 81, ,007, 900. which was quite evenly distrib
uted among the issues dealt in. The same lack
of feature which distinguished the trading in
shares was shown in the bond market, and
while some heaviness was apparent in the fore
noon better tone prevailed toward the close.
The final changes are irregular. and the i'm
portant ones are few In number. Among those
which are higher, Henderson bridge frsts rose
2]1, to Ill, and Manitoba consols 2 to l20.
The following table SHOWS the prices Of active
stocks on the New York Stock Exchange.
Corrected daily for THE DISPATCH by Whit
ney & stephenson, members Of New York
o,lr Oh, q ,,~%h