Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-14
DULL AND LIFELESS,
With the Accompaniment of Dropping
FIRures-Speculation In Silver Ger.
tiicaies Drops Out-Money
IInxunHA

uuc0tea drops Out-uAOuoy
Jumps Upward.
NEW YORK, August I3.-The activity and
strength in the stock market yesterday disap-
pc ared entirely to-day. the dealings sinking
back into the late prevalent stagnant and list
less condition. In the stock market to-day the
demand from the shorts was lacking, and
while the foreigners were not disposed to fol-
low up their purchases of yesterday, there was
no deposition to press stocks for sale. The
market therefore, Notwithstanding the material
advances in London, again became dull and
lifeless, with the usual accompaniment of
dropping figures.
The waiting was principally caused by the
interest in the new law and the announcement
that the prices at which silver will be offered
or accepted will not be made public, met with
some adverse comment. The speculation In
silver certificates at the Stock Exchange sud.
denly became dormant, and whore the trans
actions of late have run up into the hundreds
of thousands of ounces, few bids and offers
comprised the business done to-day.
The strength Of yesterday was carried over
to this morning especially as the early London
figures were SO strong, to which only partial
response was made. That the demand had
been satisfied. however, soon became apparent,
and while London did purchase q small line of
stocks, it failed to support the market after the
first few minutes trading. Money was also
marked up again, though 1t did not come
within many per cent of its extreme height the
past days, but it had the effect Of raging the
price of slowly in all portions Of the list. Dull
ness and sragnation, however. resume their
sway IN the market, and, after the first hour,
there was little change in quotations outside of
. few specialtles. Canada Pacific was tho
strong point on the list, and 1t scored material
advance, while cotton oil receipts developed
marked weakness, though portion of
the loss was recovered. There was
sgh: rally ans,,on in front the r.. last few
made by the strike upon the Delaware and
Hudson, which dropped that stock ~ per cent,
and the close was dull but firm at small frac-
tions under first prices but close to the lowest
able irregularity with slight Dredominance of
losses, and the only important one was the ad-
vance Of N in Canada Pacific.
Railroad bonds were still dull and quite feat
ureless, the changes in quotations remaining
insignificant with but few exceptions. The
sales were only S691, 900. and while Burlington,
Cedar Rapids and Northern flrsts rose 2, to 9S1<.
Chicago and East Illinois consols ~, to III, and
Hooking Valley 5s 2, to 81.
Government bonds have been dull and
steady.
State bonds have been dull and featureless.
The Post says the money question is now the
most important factor, and up to 2 o'clock to-
day the market merely waited to see what if
any, would be the effect of the Inauguration of
the purchases OF silver unQer the new law, and
whether there was any immediate prospect of
large purchase of bonds by the treasury.
Silver bullion certificates were not traded in
at all until after o'clock, when<there was
few sales at l2z<. 1t was understood in the
forenoon that no report of the amount OF
silver purchased by the treasury to-day would
be made until o'clock, and it was this
that stopped the trading in certificates for the
day.
The following table shows the prices OF active
stocks on the New York stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY STEPHENSON. old Pittsburg mem
bers of New York stock Exchange, 81 Fourth
avenue: