Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-21
A REACTION.
Railroad Shares less Active, but Show
Some Strong PoInts-sugar Comes to
the Front - Money Tighter
London john the Benrs

Some Strong Points-sugar Comes to
the Front - Money Tighter
London Joins the Bcnrs.
NEW YORK. May 2O.-The stock market was
quite irregular to-day in its movements, and
until the last hour was much less active than
any day for few weeks, and while the general
tone of the list was dropping there were a few
specially strong spots which served to give a
character to the dealings which, otherwise
would have show some weakness. The Lon
don market became materially lower this morn
ing, and there was free selling of London
favorites at the opening, Louisville and Nash
Vile being especially weak, but, in the light Of
subsequent events, suspicion that the London
market had been rugged for effect gained
ground. The bears aided their selling opera
tons in the early dealings by vague rumors Of
an influential financial institution in difficult.
ties, but when the name of the bank came to
be known it met with instant denial and the
talk of it ceased
The favorable factors of the day were the
bullish utterances of Mr.. Armour with the
special developments In q few of the leading
stocks. From the start the bears went gun
ming for stop-overs, and did succeed in uncover
ing few, but the losses sustained in all but a
limited number of stocks were insignificant.
Atchison was strong feature all the way out.
Inc prospects of the acquisition of the CON-
with the late handsome earnings reported by
the road, created a demand which kept the
stock moving slowly but steadily in the upward
direction, even when the rest of tho list were
sagging The Vanderbilts again came to the
front, and Cleveland. Cincinnati Chicago
and ST. Louis showed special buoyancy
the occasion of which w3s found in the rumors
of 81 per cent dividend upon the stock at the
next period and talk OF rights on new acQui-
sitions of the road.
Sugar was strong all the way out also, and
bull points were as freely distributed upon it
as at any time since the present manipulation
began. 1t scored rise of nearly per cent. al
most all of which was retained at the close.
Richmond and West Point was taken in hand
in the last hour, and ON very large trading it
advanced about ~ per cent on the calling of
cation of the system. Oregon Transcontinental
was the weak point in the general list. but its
final loss was only fractional Among the low
priced shares, Ohio southern became promi-
nent late in the day by sharp RISE but the
movements in that class of stocks rs rule
were without special Improvement
The money market ruled fairly easy through
were put up sharply, but although 10 per cent
was reached it seemed to have no influence
upon the upward movement in progress at the
time, and the close was active and strong at
about the best figures in most of the list. The
final changes are insignificant as a rule, though
few stocks recovered their opening declines,
and majority OF tie list is lower tonight, but
while Delaware and Hudson with q loss of 2
per cent Is the only stocks to show q material
loss Sugar is SH, Ohio Southern 2S&, Richmond
and West Point. both Common ana preferred,
rs. Atchlson u and Cleveland, Cincinnati,
Chicago and st. Louis per cent.
railroad bonds showed about the same