Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-04-23
DULL AND FIRM.
Stocks Still in the Hands of Professional
Dealers-StronE and Weak Spots
Most of the List Closes Frac-
tfOualIv Hi1har


NEW YORK, April 22.-The stock market to-
day was dull. but gen nerally firm and slightly
higher than Saturdays closing prices in all but
a few shares. The dealings continued to be
almost professional in character, and the holi-
day in London and Boston served to restrict to
some degree the amount of business, but there
was some buying for London account, es-
pecially in Louisville and Nashville, while or
ders to buy New England were executed for
Boston. The statement of the Union Pacific
of its business for the past year was regarded
in an unfavorable light, as it showed decrease
in the earning power of the company, and the
hope of dividends seems more remote than for
a long time.
This showing weakened the stock. and in the
active list it was the special weak spot. but
had plenty of company among the low-priced
shares. Short Line dropped over per cent,
and Hooking Valley was equally weak at one
time. The decreased earnings Of the company
was the primary cause of the slump, inducing
sales of long stock. but the old rumor of a de-
fault in the June interest was revived, and un-
til the President stated that the money was al
ready earned and would be paid promptly. the
decline was rapid; but the stock afterward raj
lied and regained most of the loss On the
other hand, Texas Pacific was quite strong late
in the day upon the increasing earnings report
ed, and the Coal stocks. Notwithstanding the
reports of the depressed condition of the trade,
were all higher. There was considerable SELL
ing OF Chicago Gas by Chicago Spectators,
cent.
The opening was made at from X to q per
cent higher figures than those of SATURDAYS
close, and the subsequent movements were
very irregular, Union Pacific being the weak
point followed by Chicago Gas while AIchi-
son, st. Paul and New England were the sDe-
cially strong points. The fluctuations in the
general list were confined to the smallest
fractions and possessed but little significance,
and dulless soon became the ruling feature,
Notwithstanding the weakness shown in Short
Line and Hooking Valley. Louisville 'and
Nashville however came to the front after II
o'clock, and Tennessee Coal also Joined the
upward movement, everything moving up
toward delivery hour.
After that time there was considerable real
izing and prices yielded shade, but the close
was quiet and fairly steady, leaving most of the
list fractionally higher than last week The
trading showed the same concentration upon a
few shares, and out of the total days business
of 164, ,4S0 shares, Louisville and Nashville con-
tributed % 84l. The important changes were
losses of 3s4 in Short Line, "a in Union Pacific
and " in Chicago Gas, while Tennessee Coal
is % higher.
Railroad bonds developed considerable more
animation, the sales of all issues aggregating
$l,8O0,000, of which Reading As furnished
$lS3,O00. Texas Pacific frsts SIP, ,000 and Hook
ing Valley IS 100000. The tone of the market,
however was more decidedly strong than for a
long timei
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
Stock Exchange, 81 Fourth avenue.