Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-22
SUGAR THE FEATURE.
The Usual Opening Dizziness in Wall Street
With Brighter Outlook for the
Week-Railroad and Government
Bonds Dull and Weak.

Bonds Dull und Weak.
NEW YORK. July 2L-The opening of the
new week in the stock market while possibly
not so thoroughly stagnant as the last two days
of last week, still showed no relief from the
dullness and oppressive stagnation in prices
which have ruled now for SO long. The habit
ues of the street as a rule are all a. sea as to
the probable course OF the market IN the near
future, and few expressions of opinion are to
be heard. all seemingly afraid to do anything
and all awaiting developments on one side or
the other. The railroad situation is about in
the same condition that it was week ago, but
the action of the Secretary of the Treasury in
inviting offers of bonds on a more liberal scale
indicates desire to speedily stop the accumu-
lation of money in the Treasury which has
been going on at faster rate than usual for
some time past.
There was a diversity of opinion on the bank
statement of Saturday and it seemed to be a
surprise all around as there were those who
had expected a marked increase in the surplus
reserve, but much larger number had expect
ed that the outgp of gold would not be balanced
by the receipts from the interior, and were
looking for a material loss. The actual result
in all probability had much to do with the
irmer tone to the market exhibited to-day,
though as usual all the movements worthy of
notice were confined to few stocks most of
which were affected by circumstances peculiar
to themselves. The easier feeling in London
was reflected in higher prices from that center
this morning and our market responded with
advance over Saturdays final figures of from
s TO q per cent. Sugar refineries was again
the most marked feature of the days operation,
but it was weak again in the forer oon, losing
~ per cent. and settling down to 1872. The
loss was afterward recovered, however, though
it closed at a little below the opening price
There was something like an attempt to reach
stop orders which met with some degree of sue
cess. but support was Forthcoming at the lowest
points.
In the regular list, Laclsawanna was the
strong feature with some specialties like
Hooking Valley and some others, but Atchison
and c.. C., @. & st. L. were weak and the latter
after selling ex-rights fell away ~ per cent,
and closed near the lowest. Atchison was at
tackled in the last hour and dropped per cent.
The close was dull but firm generally at some-
thing better than the opening prices. Atchison
is down per cent, but all the other changes
are for fractional amounts only with majority
of advances.
Railroad bonds were very quiet though there
was fair business transacted in the forenoon.
The usual stagnation in prices, however, was
shown with rather heavy tone, but no i'm
portant changes occurred in the active bonds.
Government bonds have been dull and f1rmer.
State bonds have been dull and featureless.
The Post says; One Of the most significant
features of the market was, Notwithstanding
its extreme dullness, prices were higher in re-
sponse to the slight improvement in London,
where money was 11@l per cent lower to-day
than last week. The South American financial
troubles which have been the chief cause of
the stagnation of speculation in London, show
no improvement yet but the appreh9nsions
that they would cause serious financial embar-
rassment in London seem to have abated.
London is now the most important factor in
the New York stock market. The situation in
the country Is favorable to higher prices for
stocks.
The latest reports from Chicago indicate that
the railroad managers in session there are
really trying to come to an agreement to ad-
yancesrates; indicates the probability OF better
earnings for the railroads and an increased
supply of floating capital stock investment.
It only requires that London should bncome a
buyer of stocks to give the whole market
considerable advance.
Ihe following table SHOWS the prices Of active
stocks on the New York Stock Exchange yester-
day Corrected daily for The DISPATCH by
WHITNEY & STEPHENSON, oldest Pittsburg mem
bers Of New York Stock Exchange, 81 Fourth ave-
nue.;