Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-16
A FEW LEADERS
Control and Give Character to the Stock
Market-A Quiet but Firm Close
Mt the Best Prices of

NEW YORK, May l5.-The stock market
shows about the same amount of business from
day to day, with the interest centered in few
shares only, but to-day there was q stronger
tone than usual Of late, and some of the active
stocks are higher this evening" Oregon Trans
continental was still the great feature of the
day, and while the buying was as urgent as
during the preceding few days, there
seemed plenty of the stock for sale notwith-
standing that the daily borrowing rate went up
to u per cent, and sellers three.days' options
were made at a discount of Il per cent Sales
at seller 5 and seller 10 were recorded at " per
cent below the regular price, The difficulties
between the Union and the Northern Pacifcs
was felt in the market and made those shares
the weak points In the active list, while Oregon.
Navigation declined materially on very small
sales
The trading in the general list was mainly of
professional nature, but the buying by the
Chicago party in ths Grangers was feature
and Burlington and Omaha preferred were ad-
vanced sharply at one time, but the others took
secondary place in the market. Notwith-
standing the last report Of reductions in coal
prices the Coal stocks became strong, and Lack
awanna and Delaware and Hudson especially
scored marked advances while Reading and
Jersey Central were moved within narrow
limits, though the last named displayed more
strength than the general list.
Chicago Gas was again feature ambrose to
above 5S, becoming one Of the leading active
shares. The result of the sale of the Wabash
was announced late in the day, and the stocks
Of that road became prominent Immediately
for strength and animation, the preferred seor-
ing material rise for the day. Among the
specialties Pullman developed weakness
toward the close and declined per cent but in
no other stock was there feature or movement
of importance. The market displayed some
hesitation at the opening, and first prices were
only fairly steady, while Union Pacific and
Omaha were down Il per cent each. New En-
gland became the leader at first, and moved up
nearly per cent, but soon retired and re-
NAMED dali throughout the Remainder of the
day. Several stocks dropped Delow their open
ing prices in the first hour, but toward noon
the Coal shares came to the front. and their
strength was soon impaired to the rest of the
list, which, however, made but slow progress.
Toward delivery hour the Western stocks
again became prominent. and the market took
on stronger tone than at any previous time
during the day, and Atchison, Lackawanna,
Chicago Gas and Transcontinental were all
prominent in the last hour The close was
quiet but firm to strong and generally at the
pest ngures Pullman is down per cent and
tennessee Coal ], but Wabash preferred rose
~, Omaha preferred 19s and Lackawanna IA
The transactions in railroad bonds were some
what larger to-day and the tone, especially in
the afternoon, when the greater part of the
business was done, was decidedly stronger and
at the close many issues were materially high
er than at the last previous sales No special
feature marked the trading, but the important
advances include Kansas City, Wyandotte and
new VT fiTsts 3 to S61z, and Texas Central rs,
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: