Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-20
ACTIVE AND WEAK.
The Bears Made n Fierce AssauIt on Rail.
rOnd shares Prices Paralyzed-A
Slight Rally at the Close
HOuda IAfeleaa.

NEW YORK, February l9.--The stock market
to-day was again active and weak, the bears
making the most determined drive which thew
have done for long time, and the effort was
crowned with marked success. The decline in
Rock Island still remains unexplained, and al
though the friends of the company assert thai
the annual report will show a surplus over the
dividends there is an impression upon the street
that some one is selling ont and holders are be-
ginning to feel uneasy. To-day considerable
long stock came out and helped along the de-
cline, though the bears got more help from the
traders than from that source. The general
list does not act In sympathy with the weakness
in the Grangers. but heaYiness resulted from
the indisposition to enter into new ventures
engendered by the decline in those etocks The
action of the trunk lines in refusing to quote
rates west of Chicago confines the fight to that
territory, and the only sufferers BY the cutting
will be the lines in that section, and principally
the Rock Island and the Burlington and
Quincy.
In accordance with this fact the last named
stock was savagely attacked in conjunction
with Rock Island. and while it was not SO
active, it kept pace with it IN the downward
movement and per cent had been Knocked of
its value before the reaction appeared, and
that was for small fraction only. The pres
sure was extended to Louisville and Nashville
and Tennessee Coal to-day, and both were seri-
ously depressed, though the former recovered
most Oh lCS loss, Mnlle Gne 0rOp OIL OF per cent
in the latter was only partially regained-
Other specialties, such as Oregon Short Line,
Big -Four and some others, felt the weakness
particularly, and little recovery was made ex-
cept in Big -Four. Considerable business was
done in Lackawanna, Missouri Pacific and
Union Pacific, while all three were materi-
ally lower than the highest prices During the
afternoon recovery took place, which brought
them all up within a small fraction Of last
nights close. The only really strong stock was
Jersey Central, but it had no influence upon
the remainder of the market.
The Trusts were unusually QTliet to-day and
the transactions in the unlisted department
reached only 35253 shares. Sugar rose per
cent net during the day. The market was de-
VOID OF feature, and finally closed steady to
nrm. after fractional rally from the lowest
prices
Railroad bonds were even dulIer than on any
previous day this week, the sales of all issues
reaching only $4,000 The market was again
weak Tor the greater portion of the day. De-
clines are more numerous, and Big Sandy SIS
lost ~ at 100
The Post says: In the afternoon Rock Island
was even more conspicuous feature than in
the forenoon, and together with Burlington IL
furnished nearly one half Of the whole davis
trading in railroad stocks. All stocks were " |
to q lower in the afternoon, Burlington beine
down u from its IL O'clock price, to lO83[ |
Everybody, aside from the manipulators Is still |
wondering what il the object tobe accompIished
by the depression OF Rock Island, though one |