Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-16
DULL AND NARROW.
COaIers and Sugar the Only Prominent
Features ofthe share Marker-Bears
Make a Drive - Gains

nj
NEW YORK, January l5-The stock market
to-day was dull, narrow and contracted, as
usual of late, but there was better distribu.
tion of the business done, though the Coal
stocks were still most prominent in the regular
list, and Sugar among the Trusts The tone of
the market, however, showed marked I'M
proVement over that of the past few days, being
firm to strong after the first half hour, and the
days business resulted in marking higher
prices for almost everything on the list OF active
stocks. The bears were early on hand this
morning with demonstration against the gen.
eral list, which had the appearance of hammer
ing to cover upon, but the result of the drive
was only fractional losses. and the support
given was such that the attack was soon dis
continued.
There were signs that the pressure was to be
changed from the coalers to the grangers and
some selling of st. Paul was done upon story
that the managers had charged larger amount
to capital account than they should have done,
and the insinuation was made that if it had not
been for this kind of bookkeeping there would
have been little or nothing for the preferred
stock. The decline in st. Paul, however, was
measured by the smallest fractions, and the
other grangers were equally well held. Chair
man Walkers opinion upon the Union Pacific
North western alliance was again made to do
duty against those stocks, but Northwestern
scarcely moved at all, and the success in Union
Pacific was on the same scale as that in st.
Paul Sugar was firm from the outset the
traders being prominent as buyers.
After the first drive the market settled down
to dullness and hrmness, but late in the day
when covering in the Coal stocks became
noticeable, the upward movement all around
became more pronounced and material ad-
vances were scored all over the list The spe-
cialties were all more prominent for strength
IT, N usual of late. and Oregon Short Line was
still weak, being the only stock to show a mate
rial loss at the close of business. The market
finally closed dull, but strong, and generally at
the best prices of the day, though in all but
two cases these were but fractionally better
than last evenings figures Short Line is down
l per cent, but Sugar rose 2SsA, and Manhattan
1ss,
ali issues being only $50 900, while the move
ments in the market were on a smaller scale,
even than during the past few days The only
feature of the trading was the pronounced
strength in Wisconsin Central incomes, which
rose from 81 to 67, the other changes being gen.
orally for Insignificant fractions
The Post says: The disappointment has for
the time being turned the majority of the board
room spectators to the bear SIDE and in the
last few days the outstanding short interest
especiallyin the Coal stocks, has been SO great
ly increased that a sharp upward reaction is
likely 60 come at any time and this is more
likely to happen in Reading than In any other
stock. even if it goes much lower. The mar
rowness of the market is still the subject of
uRceasing comment on the part Of those whose
business 1t is to make profits out OF wide huct.