Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-30
ACTIVE AND FEVERISH.
Tho Market Again Demornllzed by the
Trusts-The Commission Business on
the Waue-Conf1dence In tho
GranUer. nm y,R p

the "ane-COnhdence In the
GranEers A gain Restored.
NEW YORK, May 29-The stock market to-
day was active and feverish with a strong tone
in the forenoon, which gave way to decided
weakness in the afternoon though a smart
rally toward the close brought most of the list
up to within small fractions of last evenings
final figures. The trusts were again the de-
moralizing influence in the market, the bears
using the declines in those stocks to hammer
the regular list, and in some instances with
marked success. Oregon TranscontinentaI the
Northern Pacifcs, Missouri Pacific, Rock
Island, Delaware and Lackawanna and New
England all yielded readily to rapid selling
Missouri Pacific was one of the weakest stocks
and there was eviden >. of disposition on the
part of the insiders t., lot the price off a, fact
which led to the impression that its controllers
were not opposed to q decline.
Atchisop, the Nanderbilts, Wheeling and
Lake Erie and st. Paul were the strongest
stocks of the day, the declines in them being
small in comparison to those in most of the Jist
The effect of the restoration in rates was felt
in the list this morning, and the Londoners
were on hand with large buying orders in their
specialties which opened the list from "A to Ia
per cent higher than last evenings figures but
the buoyancy in the railroad list was met by re-
newed decentralization in the trusts and Chicago
Gas IN particular. The last named stock made
quick drop of 5M per cent to 1851 but the
news that the appointment of the receiver had
been put of Tor week, and that the trust
would fight the appointment IN the higher
courts caused rally which, however, was not
fully maintained To this inf uence was added
further liquidation in Sugar refneries, and
while that stock was stronger at The opening
than Chicago Gas, it failed to rally, and reached
materially lower figures than before. The buy
ing in the general list was checked and the
bears turned their attention to the regular list
meeting with some aid, it is believed, from the
bull leaders, who were desirous of shaking out
some of a too numerous following.
The pressure most severe upon the Viii
lard stocks and Oregon TraEscont,nental led
the drop with decline from 4911 to As with the
Northern Pacifcs and Missouri Paciric follow
ing. Missouri Pacific, New England, Rock ISL
and Lackawanna, st. Paul, Reading and Rich
mond and West Point all made marked de-
clines and weak holders were shaken out all
over the list, the existence of numerous stop
orders aiding the decline when 1t was once
starred. A number of unsettling rumurs were
set afioat to aid in the decline, and one of the
most influential was that the Wizards had de-
manded a ditferential. Money also became
dearer and rates on call we're run up to 10 per
cent which helped the liquidation. The general
belief that stocks were passing into the hands
of strong men, however. soon induced sharp
rally. and everything made material progress
toward higher figures in the remainder of the
afternoon, while the business done was large
throughout. The close was active and strong
at the recovery. The list is generally fraction
ally lower this evening. but Chicago Gas Is
down 3sS, Sugar 3. Cotton Oil receipts and
Transcontinental IL each. New England ~,
Northern Pacific preferred ~. and Lacka'