Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-20
NEW YORK STOCKS.
Holiday Dizziness Depresses the Share List
Few Changes Are Recorded, and
Those in the Direction of Lower
Prices.-Smal Bear Raids.

NEW YORK, Dec. 19-Wall street to-day pre-
sented almost a holiday appearance SO far as
the desire to do business was concerned. and
the transactions for the day fell away to the
proportions of a quiet Saturday, while In most
of the list the fluctuations were scarcely per-
ceptible, and dullness and stagnation were the
only marked features of the day. In addition
to the usual dullnesS before holiday, every
one is waiting to see the outcome of the legis-
lative measures now under consideration at
Washington. No further ratifcations of the
agreement formulated at Mr.. Morgan's house
were reported to-day.
The principal feature OF the business in Wall
streetfor the past two days has been the buying
of bonds and dividend paying stocks To-day
the market was affected by the extreme apathy
of all classes of operators. and the London fig
ures coming lower with some light selling of
few of the. Lonpnn favorites, the opening
prices were lower H to n per cent being taken
from last nights prices The lack of buyers,
and the selling of the opening encouraged the
traders to take the short side for turn, and
steady pressure was brought upon one or two
stocks. among which Louisville and Nashville
was most prominent
The downward movement, however, lasted
only for half hour. and further slight frac-
tions being lost the market rallied to about
the level of the opening figures but became in
sufferably dull and long period of stagnation
in prices followed. Lake Shore was one of the
strong spots. and st. Paul and Union Pacific
were held while silver certificates, after OPEN
ing down. rallied per cent farther.
In the last hour there was some weakness,
and Louisville lost another fraction. The mar
ket. however closed very dull and fairly steady
at about opening prices for most of the list.
The final changes are almost all in the direc-
tiou of lower figures. but only Louisville and
Nashville, with loss of l3s and Silver Certiti-
Gates, with loss of Il, show any material
change.
Railroad bonds were more active and
stronger than stocks, but the same lack of
feature marked the dealings, and the final
4 inSj
as those in shares. Sales SSli 000.
The Post says: St.sPaul. Alchison. Louisville.
Lackawanna, Rock Island, Unon Pacific ard
Reading together furnished 81 per cent of all
the trading in listed stocks. There was con-
slant hammering of these stocks in a small
way, and constant efforts by the cir
the street to depress their prices.
There were exaggerated reports of petty strike
of switchmen on the Union Pacific, and Atch-
ison was sold short on predictions that its earn
ings would show a large falling off In the next
six months because its increase of earnings
heretofore had been acquired by illegitimate
methods, which had caused animosity on the
part of the Rock Island and other roads. IL
regard to Rock island itself, the sudden drop
of the Rock Island extension collateral trust
per cent yesterday from 9S to 95A, was claimed
to be the effect of sales by inside people
who were dubious about the effects of
a short corn crop in. the country west
of the Missouri river. But to-day the Rock
Island extension 5s were up again to 97b, which
is just where they were three weeks ago, so
that the sudden selling of the bonds may have
only been a ruse to help depress the stock. The
short selling of Reading is claimed to be for
account of Insiders. because the borrowing to
apply on these short sales is claimed to be by
inside people who are anticipating bad an
nual statement and are selling short now
against their long stock to be delivered later.
The following table SHOWS the. prices or 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
avenues: