Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-20
DULL AND HEAVY.
Railroad Shares Fall Into a Rut-A Narrow
Movement of Prices-small Losses
in the Niniority-Bonds

Llfeless.
NEW YORK, March 10.-The stock market
was dull and with generally heavy tone dur
ing :he forenoon. which gave place later in the
day to firmer feeling. and prices are LETT at
Insignificant changes from last nights figures.
The usually active list all fiuctuated within the
narrowest limits, and the only wide move
ments were made in the specialties and were
few in number. The principal influence upon
the market to-day was the weakness in London,
which was reflection of the uneasiness in
Berlin over the resignation OF the great Ger
man Chancellor.
The depression of the opening was of short
duration, and was accompanied by no activity
or excitement, and the market quickly settled
down into its usual dull and listless condition,
the movement in prices being scarcely per-
ceptble in the great majority of the list for the
remainder Of the day. Almost all of the news
bearing upon the stock market was of favor
able nature, and the report of Chairman Fait-
horn that satisfactory progress had been made
toward the settlement of the rate disturbances
between st. Paul and the seaboard was pow
erful aid to the late frmness in the market.
The opening was made at concessions from
last nights figures of from "A to q per cent
generally, though London prices came from u
to per cent down. few further losses were
sustained, but prices soon began to rally, after
which the usual dullness and stagnation ruled
the list until well into the afternoon. when
sugar refineries moved up on the prospect that
the dividend question will be settled to-mor-
row. Tennessee Coal also Indulged in one of
its sudden movements rising from 40 to 81 on a
rumor that the differences in the management
had been settled. Some other sharp movements
took place in specialt1es, and Wheeling and
Lake Erie preferred after decline. rose to II.
Louisville and New Albany and Chicago
dropped about per cent from its last previous
sales and Toledo and Ohio fell off over per
cent.
The market as a whole was almost barren of
general features, and finally closed about steady
at close to first prices. The final changes show
a majority of declines, which, however, are in
yariaby for insignificant fractions, while
Tennessee Coal is up per cent and sugar N.
Railroad bonds were also extremely dull. the
sales of all issues reaching only $50 COO with
special animation anywhere in the market.
The Post says: The fact that the prices of
stocks were little lower in consequence of a
political event in Germany does not however.
necessarily imply that the stock market would
prehensions of the extreme conservatives
should be realized. The values of these stocks
and bonds are based on their dividend ard in
terest paying prospects, and certainly these
prospects have not been so good for all rail-
roads in the United States at any time in
three years as they are now.
There is an unusual abundance of capital in
Europe seeking investment, and when the
owners of that capital become convinced that
the present prospects are rapidly materializing
into great and permanent Improvement i'll
the earning capacity of the railroads, there Is
likely to be greater inflnx Of foreign capital
for investment than has been witnessed at any
time before.
stocks on the New York Stock Excnange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHENsON oldest Pittsburg MEM
oers Of New IorS Stock Exchange. 81 Fourth ave-
nue.: