Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-29
SOME BIG GAINS.
A Few SpecLalties Hold Up the Stock Mar
ket-Declines in the Majority A
strong Close, at About the
Ton Fi1uraa

NEW YORK, May 28-The stock market was
somewhat less active to-day and there was not
SO strong tone as during the previous few
days. The result of the days business is that,
while some stocks show material and even phe.
nomenal gains, there are more declines than
usual of late. The buying still continues from
out of town sources and the local commission
houses are still well supplied with orders, but
the professional element and the traders from
day to day were inclined more and more to
work for a reaction of material extent. To-day
there was also more general realizing move.
ment than has been seen for some time past
and the strength of the few specialties was all
that carried the market through. The buying
for Chicago account, however. seems to be un-
diminished and the favorites of that center
were still the leaders in the upward movement
and the statement of st. Paul met with as
much commendation as that of Reading did
with disapproval. The latter, however did not
have any effect upon either the price Of Read.
ing or its kindred shares.
London was somewhat lower this morning
and was a seller to some extent in this market
during the day. but also bought some Union
Pacific. Louisville, St Paul and Northern Pa
cifc. The trust stocks maintained their promi.
nent position in the market, and though Chi :
cago Gas stock did not advance much it dis
piayea strong tone, and the others were de-
came active in the last hour, and Lake Shore
especially attracted marked attention by its
sharp upward movement Among the special.
ties the great feature was the sudden rise in
the San Francisco stocks, and the common
shot up per cent, followed by the preferred
with smaller gain. Others which were par
ticularlY strong were the Lake Erie and West
ern shares and the East Tennessee stocks but
the Chesapeake and Ohio stocks went back a
shade.
The opening was made on large volume of
business, but first prices were affected by
the lower London figures and declines were
quite as numerous as advances. The demand
for stocks, however, soon started an upward
movement, which continued until toward III
o'clock, when the efforts of the traders and
professionals brought about somewhat lower
range of values and some of the weaker stocks
were broughtdown below the opening prices
The depression was of short duration how
ever, and in the afternoon there was renewal
of the buying for the long account, and prices
once more moved upward, though EXCEPT in
the few specialties the gains were for Small
fractions only. Toward delivery hour
at the close the market was active cfU aTs but
generally at close to the bestfgures of the dav
The total number of listed shares traded in was
372 791, of which St. Paul contributed 81 an
cent, but the oIher losses for the day were
small and few in number, while San Francisco
is up AZ. the preferred ~, St Paul IL and
Canada Southern per cent.
Railroad bonds were more active and dis
played a more decidedly strong tone. which aH-
tended to all portions of the list, and the adj
yances made are very uniform. ST. Paul n 4
D. Is rose 2 to III; Dakota and Great Southern
IS, q to 9915; LaOkawanna convertibles. 2L to
ul1S; Duluth, South Shore and Atlantic S. M
to 100; Ohio, Indiana and Western Is. & To 81.
Ohio southern lists, to liz, and the incomes
21s, to 5lSs.
The following table shows the prices OF act,va
stocks on the New York Stock EXCHANGE
Corrected daily for The DISPATCH by Whit.
ney q Stephenson, members of New York
Stock Exchange. 81 Fourth avenue: