Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-10
ENTIRE LIST LOWER.
The Strike Gives Occasion for an Assault
The Bank Statement Worse Thnu
ExDected-The Closing In

Qulet Dut weak.
NEW YORK, August. 9.-The strikes upon
the various railroads were to-day made the oc-
casion of vigorous assault upon not only
those stocks. but also upon the list in general.
although the bank statement, the crop situa-
ton and the closeness of money, with the
apathy Of the bulls. were factors in the demor-
alization of the latter. The New York Central
has had no trouble with its employees for long
time, and while the officials gave expression to
no fears in any way, the inference that the
trouble must be deep-seated and would prob
ably extend to other roads was made free use
of by the bears in order to frighten out weak
holders, and in the absence of support stocks
were offered down rapidly, with the result of
leaving the entire list materially lower than
last evening, and the declines sustained were
on the average larger than on any full day for
long time.
The bank statement was, if anything, worse
than was expected. The early London figures
were generally higher but had no influence
upon this market and the list was opened
small fractions lower than last night while the
Vanderbilts showed losses extending to / per
cent in Canada Southern. The pressure was
kept up to the close, however, and further
losses were sustained over the entire listswhile
New York Central declined from 107 to los; O.
G. @. and ST. Louis from ~ to 69Hc, and
Canada Southern from 55 to $3.50. The move
ment extended. however, and the Grangers and
specialties suffered severely while the indus
trial stocks for the time being were almost
neglected and failed to move except for small
declines.
Among the specialties the bituminous coal
stocks were weakest and scored marked losses.
The market never rallied, ana closed quiet but
weak at the lowest prices as a rule, though the
nnal bids showed some improvement. The
entire market is materially lower tonight, and
the principal losses are as follows: Hooking
Colorado Coal. l5ss; Northwestern, Lackawanna
and st. Paul preferred, each III; Canada
Southern, Cleveland, Cincinnati, Chicago and
st Louis, each 1sk; St. Paul and Missouri
Pacific, each ~; Union Pacific, IL. and Hook
ing Val ley, Rock Island, New England and
Wabash preferred, each per cent;
Railroad bonds were neglected, the sales only
reaching S2S7, 900, but the market sympathized
with the temper of the stock list to some ex-
tent, and all the important changes In quota
tions are declines.
Government bonds have been dull and steady.
State bonds have been neglected.
Exports of specie from the port Of New
sLTl.3S6 was gold. The imports of specie
during the week amounted to IS, U.s., ,091, Of
which Sl02 2S1 was silver.
Stock Exchange-Opening, 9l16c: highest
921se; lowest. elzsc; closing, &C. Consolidated
Exchange-Opening, e23<o highest 935xc; low.
est y2ssc: closing. e29zc. Total sales, 10000
The Post says: The bank statement was very
unfavorable. The loss Of actual cash was
principally to the treasury and the decrease in
the legal tender item reflects the movement of
money 70 the West and the interior
While Tor the time being the outlook for
money ana business u not very dattering. the