Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-05
BETTER TIMES AHEAD,
Wall Street Operators Predict Large In.
crease iu Speculative Business-Uu.
easiness Regarding Railroad
Rofes md GoId GLinma,t.

NEW YORK, August 4-The disposition to
await DEVELOPMENTS is still paramount in Wall
street, and the stock market even under the
most favorable conditions. shows no sign that
there is to be revival of interest in specula-
| ton or an increase in business. Shrewd opera
tors, however, are credited with the utterance
of optimistic opinions on that point, and they
say that the men, the money and the stocks
are here, and when the times are ripe there
will be seen the greatest speculation the street
has ever seen. In the mean ime the rather
mixed condition of the railroad rates, notwith-
standing that the returns from the traffic at
present are most encouraging. is one of the
most efficient causes in creating the feeling of
hesitation and the universal disposition to
make no further move until the situation is a
little clearer. The gold exports also contln ue,
and there is a well defined fear that the design
of the Bank of England is to draw still more
gold, for. which this country offers the only
available supply at present. At the same time,
while the bullish feeling is very pronounced
upon American stocks in London the South
American muddle prevents any appreciation
of any kind of securities in that market.
Local operators are more bullIsh than during
the past two months, but are affected by uncer-
tainty, and prominent commission brokers ad-
wise waiting for tie present. The bank state
ment of Saturday was. great deal of disap-
pointment to the advocates of higher figures
and further engagements of gold were made for
export to-day. This gave the bears another op-
purtunity. and they selected the Missouri Pa
CHG anu ALCnlSOn TO Dear Lle Drunt OF the at
tack. The talk of a scarcity on the corn crop
of Kansas and hints of a possible failure to
pay the interest on the Atchison incomes, to-
gether with the recent passage of the dividend
upon San Francisco first preferred stock, were
the impelling causes for the attack. Both of
the stocks were forced off about l% per cent
but Sugar was strong, and held the decline in
the general list in check, and, Notwithstanding
that special efforts were made to get St. Paul
and Rock Island down, they were maintained
at close to the opening prices, the gain in earn
strength displayed. Further gold exports added
their mite to the depressing influences how
ever. and, late in the day, after a material i'm
provement had been scored from the lowest
point, money became apparently scarce, and
rates on call were run up to per cent at the
close. Missouri Pacific felt the last Influenza
most, and retired to the lowest figure, while
Others again declined slightly. The close was
barely steady, generally at small fractions be-
low first prices.
A comparison of railroad earnings reported
to-day with those of the corresponding week of
last year shows that PitJsburg and Western
alone scored decrease. while Iowa Central
increased q per cent Toledo, Ann Arbor and
North Michigan 25. Lake Erie and Western
27A, Toledo, ST. Louis and Kansas City III St
Paul and Milwaukee and Northern lS Sugar.
Atchison, Missouri Pacific and St Paul being
the active stocks. Missouri Pacific is down
~ per cent and Sugar is up IL, but the rest
show generally fractional losses for the day.
Railroad bonds were more active but SYM
pathized slightly with the depression in stocks,
and most of the few important changes this
evening, although as usual some of the in
active issues show material advancesf The de-
clines, however, were void OF feature and the
great majority Of the list were steady and re-
manned unchanged.
Government bonds have been dull and
steady: State bonds have been entirely ne
elected.
The Post says the engagement of 81, SOC, 900
gold Tor export, the reduction in eastbound
rates from the Missouri river to Chicago, de-
crease in Rock Island earnings and the close Of
the London market to-day all helped to make
lower prices for stocks here, and the net result
for tie day was decline of II 60 per cent
from Saturdays closing. The highest prices
were made at the opening and the lowest In the
in the afternoon the close having been dull.
but steady to firm. The Grangers and South
western were the features throughout the day.
The follJwlng table SHOWS the prices or active
stocks On the New York Stock Exchange yester-
day Corrected daily for 1HE DIsPAToH BY
WHITNEY sTEPHENsoN, oldest Pittsburg mem-