Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-16
STOCKS AGAIN ACTIVE.
1rnnsaetions Numerous and ReaIizniious
Larger Than Heretofore-Th Morning
session Firm, but Weakens somc-

| AAcretoIorc-AuO
session Firm, bnt Weakens Some.
| whnt In the Afternoon.
| NEW YORK, May l5.-The stock market TO-
aay was again extremely active, especially dur
ihs Tue forenoon, when the transactions nearly
equaied Yesterdays large business but there
was marked falling of later in the day. The
temper OF the market was almost from the
start reactionary and, while commission houses
executed liberal supply of buying orders,
tne realizations were larger than at any time
heretofore, and the downward tendency in
prices was aided by the hammering operations
Oh the traders and the professional element
generally.
While there seems to be no diminution of
tne Dullish sentiment, and reactions are ex-
pected from time to time, the market at last
mas run up against its old enemy, tight money,
ana extra rates OH call ran up as high as 10
per cent while they never got below per cent.
London figures were again materially higher
TINS morning and the foreigners sent liberal
nuylng orders which, with the early demand
ing up the market from u to "a per cent The
pressure to sell was SO great, however, that the
1uoyant tone disappeared Immediately and q
slow and steady sagging of prices began. which
lasted almost throughout the day. There was
occasional rallies which, however, went for lit
Tie except in few stocks which received spe-
cial attention from their supporters. New En-
gland was one of these. and it was the bull
card OF the forenoon, keeping pace with
sugar Refneries and some of the spec,altles
IKE San Francisco. Later Oregon Iranscontl.
mental made sharp upward spurt. but OF all
bhe strong stocks there Is only one, Wheellng
and Lake Erie, which finally closed the day
with more than small fractional gain.
In the decline those stocks which have had
the largest and quickest advances were natur-
ally the first to suffer, and Chicago Gas dropped
away per cent and Sugar, after an advance in
the forenoon, declined about per cent. Mis-
souri, Pacific and Pacific Mail were both spe-
cially weak on comparatively light trading, but
Manhattan was strong and retained most OF its
improvement. Mexican Central and Mexican
National Certificates, which have been called
into activity by the silver legislation were both
active again today but neither made any
special movement. Tbs realizati0ns in the last
hour under the influence OF the high rates for
money became most pronounced, and while
there was light rally toward the end of the
session, the close was active and weak at or
near the lowest prices of the day. The entire
list with few exceptions are lower tonight,
and while the losses are mostly small fractions,
Sugar declined ~, Missouri Pacific 1ss, and
Pacific Mail IA
as yesterday. but the sales reached s., 3S4, 900,
with the same Issues leading in the trading that
have become prominent of late. AS a rule,
fluctuations even among the most active bonds
were confined to small fractions, and the final
changes are for the most part insignificant
Government bonds have been dull and steady.
state bonds have been active, and firm to
strong
The Post says: The news of the forenoon was
OF mixed character. The reports from the
West show further decentralization of passen-
ger rates, but the impression exists that matters
have about reached their worst and that an i'm
provement will shortly follow The general
temper continues bullish, and while reactions
are expected, higher prices are regarded as Ger.
tain to follow.
The market was heavier and lower in the
afternoon on continued realization of profits
and the lowest prices of the day were made in
the first half of the last houy. The higher rates
Tor money had some effect to deurpHs urireH