Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-17
ADVANCES SCORED.
A Lively Day on Wall Street-Stocks
Tossed by the Bulls-The Standard
Monopoly Takes a Hand

MOnOpOIy V0ke9 a HAND
Bonds Active.
NEW YORK, May l6-The stock market was
more active to-day than for any day for over
two weeks, while the bullish feeling became
very pronounced and the advances scored were
more important than at any time during the
continuance Of the present rise. The contest
in Oregon Transcontinental was continued to-
day, and the excitement attained degree
which has up to this time been unknown. The
borrowing demand increased and the rates for
accommodations went up to as high as IL per
cent for the day, and the difference between
sales seller 8, and 10 days, and those in a
regular way reached ~ per cent also, while
sales for cash commanded premium of from
a to per cent.
The stock was strong throughout, though its
movement was slow and steady, and at its
highest point, which was at the close, it was
materially higher than last evening. The
struggle is expected to continue tomorrow.
Aside from the excitement in Transcontinental,
however. there was broader and stronger
market and the demand from Chicago and the
local operators was increased, which was soon
shown in the course of prices. The foreigners
were doing very little and sold some stock
which, however, was easily absorbed.
Purchases by brokers usually connected with
the Standard Oil interest were very conspicu-
Gus, aud did great deal to frighten the shorts
which ran to cover and aided the rise material
ly. Late in the day the Coal stocks became
prime favorites, and large amounts of Reading
changed hands, with the effect of sending that
stock up over per cent in short time, though
the others did respond to the movement Ad-
verse reports upon the Housatonic bill made
New England the weak point in the list, and
toward the close it reacted sharply, dropping
about III from its best figure. Chicago Gas was
more active and moved up slightly, but Cotton
int NJ av16 lu1 pI1ll
man also showed new life and regained most of
the late losses, but the other specialtes did not
show any marked feature.
The opening was rather heavy, and Wheeling
and Lake Erie preferred and Rock Island were
down e and per cent respectively, but the
general list while somewhat feverish and irreg
ular in the early trading. was strong and prices
slowly mounted Toward noon there was a
marked movement in the Grangers, and the
entire list showed a more pronounced strong
tone, Burlington and Rock Island, in which the
buying was specially good, showing the way.
Reading and Cotton OIL then came to the 'front.'
and the best prices of the day were reached to-
ward P. NJ, after which realizations by the
smaller bulls led to a fractional reaction in the
general list though New England was specially
weak. The close, however, was quiet and firm,
and generally at close to the best prices of the
day. The final quotations show some irregu-
1arity, but the great majority of the list is
IL, Burlington 1N and the others fractional
amounts.
Railroad bonds were fairly active. the sales
of all issues aggregating Si,77S,OOO, of which
Reading second incomes contributed Sl52OO0
The market like that in shares was decidedly
broader and the tone more pronounced than on
any day since the Centennial HOLIDAYS though
the improvement in most of the list is for small
fractions Burlington, Cedar Rapids and
Northern consol IS rose 21s, to 3i5S; Cedar
Falls and Minneapolis frsts 2, to Y, and Erie
incomes 81, to 78116. San Francisco class B is
down ~, at ll61z.
The following table shows the prices OF active
stocks on the New York Stock Exchange.
Corrected daily for The DISPATCH by Whit
ney 4 stephenson, members of New York
Stock Exchange, 81 Fourth avenue: