Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-06
A MONOTONOUS DAY,
Awaiting the Opening Of Proffers of Silver
Bullion-Bears Using the Corn Crop
Situation on Railroads-Less
Anima fton in Bonds.

Animation in Bonds.
NEW YORK, August 5.-The movements in
Atchison, Missouri Pacific and Sugar Rein.
cries continued to be the only features of the
stock market to-day. and the remainder of the
list was, as usual, extremely dull and practi-
cally stagnant. During most of the day there
was firm tone prevalent, but final prices show
very slight changes from those of last evening.
The monvtony was as oppressive as at any time,
and even in Missouri Pacific and Atchison the
movements were comparatively Insignificant,
the declarations Of the interest on the Atchison
incomes having seemingly no influence what
ever upon the stock or the bonds. The selling
of the past two days has come almost exclu-
sively from bear sources, but the buying is
more difficult to trace, but, as usual Of late,
when the pressure Of short sales was removed.
prices rallied while the market became dull
and uninterestipg.
The street is now anxiously awaiting the time
when the proffers of silver bullion will be
opened in Washington under the new law The
late movement of silver outward seems not to
have been maintained, and noted bullion
house to-day ordered S2OO, 900 in silver from
London, which will arrive in time to be includ-
ed in the first offering
The little furry in money last evening was an
other factor in the disposition to wait which is
| SO prominent In the street, and the action Of
the new law is awaited with the expectation
that all such movements will be prevented by
its enforcement. The rise in silver seems to
have reached its limit for the time being, and
the price to-day went back to below lib The
early London figures were generally lower than
ours OF last evening, and first prices here were
generally made up on the same plane with "a
special loss of II in Pacific Mail. Further de.
clines OF fractional amounts were scored under
a renewal of the pressure of the forenoon the
forenoon decline being led by Missouri Pacific
in the regular list, and Sugar. The bears united
their forces against Missouri Pacific, as a weak
ness in that stock always causes outsiders to
believe that Mr.. Gould is in favor of lower
prices. There is no evidence, however, that he
has been operating in the market.
corn crop situation and are using it to brighten
bolders of railroad stocks. but from the stand
point Of railroad earnings, which are the true
Test of values of railroad stocks, the per
centage of loss by the shortage in the corn
crop will be extremely small. The squirt in the
last hour was aided by a sudden bidding up of
money to 20 per cent, but up to that time the
market had displayed much more steadiness
than yesterday. The close, while quiet, was
heavy TO weak at small fractions under the
opening prices, even Missouri Pacific failing to
lose more than fraction. Railroad bonds
were, if anything, less animated than yester-
day, but displayed the same dropping tone and
almost all the final changes of note are in the
direction of lower figures The Atchison In
comes were the only real feature and furnished
S272,000 to the grand total of only SS4S COO. and
matera @ Decline Nors6ern es Paco "a @ans psr@pas
rose 2 TO Ill. Government bonds dull and
steady.
state bonds dull and without feature.
The Post says: There were no further en-
gagements Of gold this morning, and the bear
ish reports On the crop prospects early in the
day were the only basis for the hammering of
the market and the decline in the first hour.
The later recovery was on some foreign buying
and covering of short contracts. The news
during the forenoon was meager and OF little
importance.
Notwithstanding the higher rates for money
in the afternoon the market was duli, but
steady to firm, some stocks having made their
highest prices Just before O'Clock. In the
last hour there was q fractional decline, and
the net result for the day was decnnes OF n 70