Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-17
A FEATURELESS MARKET,
Stocks Exceedingly Sluggish-specuIarors
All Waiting for Congress TO Decide the
Silver misunderstanding of
n FiurPv in Surnr


NEW YORK, June l6.-The stock m arket to-
day was the most featureless market seen at
the Stock Exchange for months and the deal
1ngs In the stocks composing the regular list
present absolutely no occasion for comment
The course of prices was scarcely perceptible
at any time of the day, but there was a Slight
dropping tendency In the forenoon which gave
way to more confident tone later. Speculat-
ors and even investors are still waiting upon
Congressional action in the matter of a silver
bill, and until some definite news is received
which will indicate the final result stagnation
is likely to be the chief characteristic of the
dealings in stocks. The news of the day in re-
gard to the railroad situation was of slight
importance and had no influence one way or
the other, and the small demand, as we'll as the
equally limited offerings of stocks, come from
the professional element entirely
There was, as usual under such circum-
stances, an attempt by the bears, aided by the
room traders, to whom stagnation in prices
me- means Itte OF no profits to ger prices down in
in Sugar Rehneries, but with the execution of
knocking the price of that stock off about l%
per cent and the dropping tendency shown in
the regular list during the forenoon there was
no result from the effort. Stop orders in Sugar
were placed in the market by the bearish spec
ulators and vigorous drive was made at the
opening to reach these orders, which, of course
was successful and from 80 the price dropped
within the first few minutes to S01S. A quick
rally to 81 followed, after which the
stock remained quiet to. dull at
lodging long stocks in the regular
list was unaecomplished and the most intense
dullness settled down upon the market and
was not lifted during the entire session. There
was some selling Of Oregon Transcontinental
after the issue of the address to the stock
holders giving the scope of the new deal and
its prospects, which broke its price about per
cent but the rest OF the list for the whole day
was moribund. The close was very dull and
steady at about first prices. There was no ten
dency in prices shown by final changes which
were irregular, but for small fractions only
even Sugar losing within a small fraction Of its
Saturdays price after all the manipulation.
The dealings in railroad bonds were not so
stagnapt as those in stocks, but there was dull
ket Sales, SS2S, ,00U. without active feature
Among the few marked changes Louisville
Southern firsts rose Ito SS
Government bonds have been dull and firm.
State bonds dull and featureless.
The Posi- says: This cessation of trading is
not mere lethargy, spectators have scarcely
been so wide awake and watchfu1 for year or
two. But the great majority are very much un-
settled in their minds as to what kind of sill. !
yer bill will be passed in Congress this week.
and still more unsettled as to what will be its
effect on the stock market. The general condi- |
tions of business are favorable to the later |
prices for great many of low-priced dividend |
paying stocks and many of the low-priced pros |
pective dividend payers, because the remark |
ably good earnings of the roads in almost |
every quarter of the United States are making |
The dividends of the low.priced dividend |
payers more certain. and therefore bringing |
theih. as Investments, more on level in that |
respect with the high-priced dividend payers. |
which also brings the prospective dividend |