Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-23
ADVERSE INFLUENCES
Brought to Bear Upon Wall street-stocks
Open Firm, But Weaken and Close
FraciionaIly yLower-Railrond
Ronds EoirIv Active


NEW YORK, March 22.-The stock market
was intensely dull during the entire day with
the exception of the first hour and prices were
as near stagnant as possible. There was firm
feeling in the forenoon and the purchasing
continued with the effect of raising quotations
fractionally. and many of the active stocks
reached the best prices of the week. There
were several influences which, however, had a
depressing effect upon the speculation. first of
which was the engagement of $1,000, COO gold for
export and the loss in the Northwestern earn
ings for February, while there were further re-
ports of rate cutting in the West.
The market yielded to the adverse influences
and prices sagged off slowly until the bears at
tackled Burlington, which dropped per cent.
and most of the Granger stocks sympathiZed to
greater or less degree, though Rock Island
was the only one which showed any decided
weakness. The trust stocks were the strong
feature OF the days transactions, and again
Chicago Gas led the list in both activity and
strength, although it lost most of its gain late
in the day and closed only a small fraction
higher than last evening.
Chicago was buyer in the early portion of
the day but later there was evidence of some
selling for that center. London did little either
way, though it sold some, notwithstanding the
adVices from the other side were to the effect
that the crisis was over and the European mar
kets had resumed their normal condition. Ten
nessee Coal was weak under the selling on the
closing of the books, but in no other stock was
there any movement of importance, the trad
ing being principally the scalping of the
traders. The opening prices were generally
slightly higher, and further fractional gains
were scored all over the list in the early trad
ing, while Missouri Pacific and Burlington rose
point each.
The early demand for stocks, however, soon
died away, and the market sank into the most
extreme dullness, and prices remained stagnant
until the sagging tendency became noticeable,
when some pressure was brought against the
Grangers and Burlington and Rock Island sold
of rapidly and Chicago Gas lost almost all of
its early material advance. The rest of the list
sympathized and everything was brought down
to shade below the opening figures, the mar
ket closing quiet and heavy. Almost every
thing on the list is slight fraction lower this
evening. Tennessee Coal lost IL and Burling-
ton 1N.
Thero were more issues traded in the railroad
bond market to-day, and again there was a
moderate degree of animation, the sales aggre-
eating ST. 6SS 600, of which Sl94 600 was in Read
ing As Sl30 900 in Texas Pacific seconds and Sll0-
0C0 in Wabash. Detroit dividend receipts.
The tone of the dealings was generally firm, but
the important changes in quotations were few
in number and several declines occurred.
Great Western tirsts rose AZ to ll5N.
The following table SHOWS the prices Of active
stocks on the New York Stock Exchange.
Corrected daily for The DISPATCH by Whit
ney & Stephenson,C members Of New York
Stock Exchange, 81 Fourth avenue: