Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-10

comparatively quiet to-day, and, while inclined
70 weakness under the hammering OF the room
contingent later developed strong tone, and
all of the early losses were regained. The pas
sage OF the silver bill by the House of Repre-
sentatives on Saturday furnished the topic OF
conversation for the street to-day, and there
aseome expectation that there would be a. little
Doom on the strength of IL. There was some
ooying at the opening which, with the limited
offerings. had the effect of opening the market
up from q to e per cent but the disposition
among tne majority of operators was to await
tne action OF the Senate upon the matter and
tne ADVANCE went but tslights fraction further.
me Ialng element interpreted this as an in
dlcauon OF weakness. and made some attacks
upon the list here and there. but outside of the
trusts the impression made was slight. al
thougn some selling for London account de-
pressed oregon Transcontinental, Louisville
and Nashville, Mexican Central. St Paul
Union Pacific, Rock Island and one or two
specialties large fractions. Toward noon the
announcement was made that passenger rates
had been restored all around. and the Wizards
were the first to feel the stimulus Oregon
Transcontinental moving up nearly 2 per cent.
Richmond and West Point followed later with
\ similar gain, and the trusts rose handsomely
from their lowest points. The talk of the
street has 1t that TranscontInental is worth on
the books about %, but the prospect of divi-
dends after the reorganization is said to be the
chief stimulating influence at present.
Richmond and West Point rose sharply.
rumors that the insiders would
probably os,ain control Of the Baltimore and
Ohio. There was evidence of inside buying
also. The general revival of confidence, how;
ever, was shown in all portions of the list, and
In the last hour the traders who had been sell
ing in the forenoon took hold of one stock
after another and aided materially in advanc-
ing prices. The trusts we're not so active, but
while they showed some wide fluctuations they
were on a smaller scale than usual of late, and
they fully responded to the late strength in the
only slight changes from first prices. The final
changes are quite irregular and usually inslg-
nifcant, but Oregon Transcontinental is up ~
per cent and Sugar and Missouri Pacinc l per
cent each. Railroad bonds were quiet through
out and sfailed to develop any special feature
whatever. The market displayed firm tone,
but there was no urgent demand at any time.
The trading reached only 81, Is, 900. Among
the advances Ohio. Indiana and Western sec
onds rose 2 to CO. st. Joseph and Grand Island
Government bonds have been dull and
steady.
State bonds have been dull and without feat
ure.
The Post says: With the recent advance in
the Northern Pacific stocks the book value of
the Oregon TranscontinentAl stock is figured
up by those interested in it TO about IS or 56.
But the speculative feeling in regard to it Is
based mainly upon the prospects Of its becon-
ing after reorganization, an important finan-
cial agent and powerful proportion of enter
prises somewhat in the same way as it was of
the Northern Pacific. 1t is understood that
the stock of the present company will De ex-
changed share for share for that of the new
company, and the expectation is that if specu-
lation is active, and many new enterprises are
brought out, the new 20. T." stock should
soon be dividend paying investment.
A dispatch from Chicago after l o'clock to
the effect that passenger rates everywhere in
the West and Southwest have this morning been
restored to the full tariff figures helped to
strengthen the general stock market IN the
afternoon, though for the time being it had
no special effect on the prices of the Granger
stocks. The continuance of encouraging re-
ports in regard TO the improvement in the
anthracite coal trade and in the iron and steel
trade made a stronger market for the Coal
stocks to-day.
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.: