Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-07
nished by whitney Stephenson, brokers. No. 81
Fourth avenue. Members New York Stock Ex-
HEAVY. DUMPING
Causes a Decline In Railroad Shares
Changes Small. but Widespread
Money Working Closer-West-
-. Sisu,ffoa Tmnrovfu0

ern Situation Improving.
NEW YORK. May 6.-The stock speculation
halted little again to-day and the result of the
days operations In most of the list Is insignificant
changes of small fractions only. though they
| are generally in the direction Of lower figures
There was marked Improvement in the as
pect of Western railroad affairs indicated by
the dispatches and no seeming diminution in
the bullish Telling which has been SO pro
nounced upon the street for the past two
weeks, but money worked a little closer, and al
one time was running up to 10 per cent on call
though it was of cred at 4 per cent at the close
after every one had been supplied.
The realizations, however, again assumed
large proportions. and with slight falling of
in the demand for stocks the pressure to sell
was sufficient to cause sagging off of prices
for the time being. London came stronger and
higher this morning and was the usual com
plement of buying orders from the other side:
though some selling orders in Ontario and
western were noticed. Westerners took the
grangers freely on the improved condition OF
tnlngs In that region, and several OF newly
formed pools were actively at work in their
favorites, which were the only stocks showing
any decided strength during the day.
Chicago Gas was again the most conspicuous
of thece, and 1t scored gain of per cent on
large dealings for the stock. Oregon Trans
continental was very strong and active again,
and is slowly approaching book value of so,
which it Is calculated it IS worth. Atchison was
taken for the account of the same parties who
were prominent in the stock yesterday, and the
other grangers. while not so active as usual of
late, were well held.
The traders set in to discount the return of
Mr.. Willard and made Northern Pacific COM
noon, both in point of activity and strength.
The trusts were again active, but only Cotton
OH displayed any marked strength, while
among the specialties Rio Grande, Western
nrQfQrran 1aIo Cas- ou.i anti fNr
the advances made. The dealings extended to
large number of stocks though there was
less trading in the low-priced issues.
The buoyapt feeling of yesterday was ap-
parent at the opening, but the realizations on a
large volume Of business sagged prices of in
the first hour and the losses had extended to
nearly per cent before pressure Stacked away.
After that time the market was more quiet, but
no recovery of note was made except in the few
stocks which have the advantage of special
circumstances, and among these Chicago Gas
was most prominent; leaving off with net gain
of 21. followed by Rio Grande, Western pre-
ferred with per cent, Cotton Oil receipts with
IA Atchison and Chesapeake and Ohio lst
preferred with lH each and Oregon Transcon-
tinental with per cent. The market was held
fairly steady during the afternoon, but re-
manned rather feverish and closed unsettled
with a majority of the list at slight fractions
below last nights figures.
Railroad bonds were again fairly active, the
sales amounting to 200, with Texas Pacific
2nds Atchlson As and incomes and Wabash lists
the leading active features. The market was
inclined to follow the share list in the early
trading and displayed some weakness, but
afterward recovered and closed strong. There
was no special feature beyond the strength in
Kansas and Texas 5s, which rose per cent to
Is. but other advances were Omaha consols
to 1881: Erie collateral trusts to ITO.
The Post says: The news of the day was Of a
favorable character. in that it confirmed the
reports of an Improvement in the rate situation
at the West, together with large earnings of the
roads and easy condition of the money market
both here and abroad. The general market
was less active in the afternoon. and prices
were not materially changed, the net result for
about where they were at the close yesterday.
The close was firm at a fraction lower than the
best prices.
The following table shows the prices OF active
stocks on the New Y ork Stock Exchange yester-
day. Corrected daily for The DISPATCH by
WHITNEY & STEP HEN son, oldest Pittsburg MEM