Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-18
LOOKING AHEAD.
Dizziness Still Dominates Wall Street.
Stock Spectators Discuss the Probable
Effects of the silver Bill-Gold

NEW YORK, July 1.-THE situation in Wall
street remains unchanged, and the principal
features of the market are dullness and stag
nation. The dealings in regular list in the stock
market to-day presented absolutely no feature
of interest beyond the continuance of the rise
inPacifc Mail, which has been started by the
passage of the shipping bills. The movement
was spasmodic, but the improvement made
was retained, and the next lift will start from
the higher level. The dividend upon Denver
and Rio Grande preferred seems to have done
its work, as that stock this morning was off
per cent from its last evenings price, and only
a portion Of the loss was recovered.
Sugar RefnericS was again the great feature
of the day, but the movement was downward
in the forenoon, though recovering later in the
day. The movement in a measure gave tone to
the general list and while the movements were
insignificant, heaviness marked the transac-
tions of the forenoon but firmer market was
seen later in the day. In addition to Pacific
Mail and Rock Island, Lackawanna was
strong feature, but its fluctuations were slight.
In the face of the dullness of speculation, a
dullness mainly caused by the oppressive heat,
comes a continuance of the good showing of
the railroad earnings.
In default of speculation operators discuss
the probable effects of the silver bill. The
bulls argue that it will be of great benefit not
only to Wall street but TO the business of the
whole country, They say that the addition to
opr circulation will encourage new enterprises
and lead to greater activity in business circles
next fall The improvement will begin to fall
early in August.
They rest their faith on the reduction in
sterling exchange, the passage of the silver
bill, the advancement of rates and the appear
ance of rain in the corn belt. where there has
been great drouth. No Improvement in specu-
lation may be looked for in New York while
the present heat continues.
The engagement of $780, 900 gold for export
was made the occasion of raid by the bears in
the last few minutes of trading, and the
granger stocks especially were ratified off. The
oIose was heavy the decline. The final
changes are generally insignificant, but Wheel
ing and Lake Erie is down n.
Railroad bonds were more active, the sales
being s., ,1S9 000 but the changes were like those
in stocks, without Importance, and the tone of
the dealings undecided.
steady. State bonds have been entirely neg
lected.
The Post says: The general speculative pub
lie in this country are at present more than
usually disposed to look for and speculate for
higher prices "A few people who were, perhaps,
a little too eager, and have been loaded up
with stocks for a good while, have been some
what disappointed that the rise has not come
before now, but as soon as London shows dis
position to buy stocks there will be found
plenty of people here to do likewise and the
activity of Sugar Trust certificates will be for
gotten in the greater activity OF railroad
stocks.
the following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for 1HE DISPATCH by
WHITNEY & STEPHENSON, oldest Pittsburg mem
bers of New York Stock Exchange. 81 Fourth ave-
nue.: