Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-01-12
STOCKS IN A WAITING MOOD.
Business Crippled by the Uncertainty Attend
ing the Railroad Conference.


NEW YORK, January n.-Except for Pc
riod of moderate activity in the forenoon, the
stock market to-day was equally as dull and
uninteresting as that of yesterday. The prog
ress made by the railroad presidents and the
bankers in their task of restoring the prop
critics to dividend paying basis did not meet
with any response from the spectators of the
street. The market still waits for more pro-
nounced action and the dealings remain almost
purely professional.
This inacton in the face of the general ex-
pectation that the action of the presidents
yesterday would result in q marked improve
ment in values of securities caused much dis
appointment on the street. and had it not been
for the liberal foreign purchases weak mar
ket would probably have succeeded. There
was no weakness apparent, however, even with
the prevailing dullness, and the traders at one
time thought that they detected buying from
however that any large interest was
doing anything, but there was slow but
steady hardening of values which carried
prices in some stocks up as much as per cent.
The Improvement was most noticeable in the
Grangers. and those stocks overshadowed all
the rest of the list, although there was activity
in Erie, which was bought largely for foreign
account.
The market opened with show of anima-
tion, and first prices were all higher than last
evenings figures, although the gains were con-
fined to small fractions, except in the cases of
q, and 2per cent higher respectively. Lacka-
wanna took the lead in the general upward
movement which followed, though its advance
was only "a per cent, and in the others still
smaller fractions. Most of the gains were
afterward wiped out, and the market subsidized
into the usual dullness.
Later there was renewal OF the upward
tendency, and before noon all the active list
had again reached the above first prices. The
trading exhibited steadily declining volume,
however, and no progress was made until the
last hour except in the Grangers, in which st.
Paul was most conspicuous. Just previous to
the close there was more animation, and every
thing again moved uD slightly, the market clos
ing dull but firm to strong at fractions better
than the opening figures.
On the whole, the dealings in railroad bonds
exhibited more features than those III shares,
although the business done fell short of the
totals of the previous few days. reaching only
81, ,794, 900. Erie seconds were again active, but
failed to move to any material extent, while
the Colorado Coal skies developed marked ami
nation and strength, and recovered portion
of the losses of the past few days. The Gulf,
Colorado and Santa Fe bonds resumed their
advance, and tonight are nearly up to the
figures prevailing before the late scare The
Erie seconds furnished Sl7l, 600. the Colorado
Coal skies Sl26, ,000 and the Atlantic and Pacific
fours $4,000 to the days total. The general
list was firm.
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: