Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-03-13
A COLD WAVE
Strikes Wall Street and Depresses Stocks
The Market Without Special Feature,
hut Everything Slightly Lower


Railroad Bonds Quiet.
NEW YORK, March 1.-THE stock market
to-day was dull and stupid throughout, with
very little movement in prices and after the
first hour a general sagging tendency, which
had the effect of leaving most shares tonight
slightly lower than last evening. The copper
sensation has ceased to have any effect upon
the stock market. and this morning, notwith-.
standing that the advices from the other side
in that matter were very favorable, there was
no response to the good news. The covering Of
shorts, which was so marked feature yester-
day afternoon, was lacking to-day, and in the
absence of any disposition to buy there was
nothing to hold quotations outside of the usual
small demand, and while there was on the other
hand no inclination to hammer prices. the
market sank into intense ,dullness, and prices
after the first squirt sagged of slowly and be-
came sragnant.
The waiting disposition seems to have again
taken hold of the local operators. and after the
price of coal has been settled and the meetings
of the Illinois Central and the st. Paul direct
ors are over and we have heard of the final in
tention of Commissioner Walker there may be
a more decided character to the speculation.
There was considerable irregularity to the
movements within the narrow limits and while
st. Paul was stubbornly held there was some
weakness in the afternoon in New England,
and during the earlier hours Lackawanna and
Manhattan lost point. Pullman also retired
per cent on an Insignificant business. Read
ing, st. Paul and Lackawanna were the only
stocks showing any animation in the regular
list, but Cotton Oil was again very active, and
after drop of l% per cent remained in the
neighborhSod of its lowest figure for the re-
mainder of the day. The movements in the
others were entirely insignificant
The opening prices were generally from "a to
g per cent above their figures of last evening,
and this advantage was further improved In
the early trading by small fractional advances,
which, however, in no case exceeded II per
cent. st. Paul was the only really active
England afterward came to the front. The
strong tone disappeared after the first demand
was satisfied and the list was quickly brought
down to below the opening figures, after which
the most intense dullness marked the trading
and stagnation became the leading characters
tic of the market Louisville and Nashville
showed some strength and New England de-
clined somewhat in the afternoon, but no other
feature was shown and the close was dull and
steady, generally at slight fractions under the
opening figures. The final changes are irregu-
lar but declines are in a majority, though, ex-
cept in the case of Pullman, which lost 2 per
cent the changes are for fractional amounts
only.
Railroad bonds were quiet, and. like the
stock market, were irregular with but slight
changes in quotations and no marked features
of any kind. There was some animation in the
Milwaukee, Lake Shore and Western converti-
bles and the Louisville, New Albany and Chi
cago seconds, but while the total sales reached
81, ,207, 900, there was no special activity in
either. The advances in the list include Har-
lem firsts, 8 to l34.
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: