Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-10-03
NEW YORK STOCKS.
Both Sides Waiting for Developments-Benrs
Attack Unprotected spots-Treasury
Disburr emenis Likely to Enter
RniIrond Stocks

Disburr epenIs Likely to Enter
Railroad Stocks.
NEW YORK, October 2-The stock market
to-day has been duller and more stagnant than
on any day since before the monetary strin-
gency and as far as the course of prices in an
tlcipation both sides are again waiting for de-
velopments with the usual accompaniment of
dullness and its alternate of bear attacks upon
the unprotected spots in the list
The opinion is generally expressed that we
have not yet begun to feel the real effects of
month, and when that money really seeks in
vestment large proportion of it mus. go into
railroad stocks and bonds. Railroad stocks to-
day, however, were very uninterestng. there
being apparently no influential interest at
work that could make any impression upon
prices in either direction. and while the usual
dullness induced the traders TO take the short
side late in the day. the fluctuations were
confined to the smallest fractions
The long delayed publication of the Burling-
ton and Quincy earnings for the month of Au-
gust occurred to-day, and as expected they
showed a material loss from those of last year,
the decrease in the net being S3i9, 600 The ef-
feet seemed to have been pretty well dis
counted and after fractional rise, made in all
probability to sell on, fractional recession oc-
Cured. There was considerable selling of
Sugar Reflneries during the forenoon and a de-
cline of nearly per cent was brought about,
Notwithstanding the passage OF the new tariff
law, but rumors were afoat that the dividend
would not be paid, as the money had been lost
on suits etc. The bears made the loss in earn
ings on the Burlington the occasion of an at
tack upon the Grangers in general and Incl
dentally upon the general list, but while Bur-
lington lost ~ from its best price, Rock
Island suffered as much, while Sugar, which
had been very weak IN the forenoon. showed
considerable recuperative power and rose
fraction. The dealings on the whole were with
out special feature of interest and the close
was very dull and heavy to weak, at about the
lowest prices of the day.
The final changes show majority of losses,
but they are for the most part small fractions,
the only important ones being Pacific Mail l3ss,
and Sugar " while Wheeling and Lake Erie
preferred rose lI per cent, ana with Chicago
Gas. was: the only stock showing any real
strength through the entire day.
The railroad bond list was slightly more
active than usual of late, but there was the
usual slight changes. even among the active
issues. Only in Houston and Texas general
and the Union Pacific As were there any move
ment of importance, both being weak in the
extreme. The total sales reached S94l. .0OO out
of which Atchison incomes furnished $l32, 600
and the Texas Pacific second incomes Sl20,0
Government bonds have been dull and steady.
State bonds have been dull and steady.
The Post says: The rates for exchange were
higher again to-day, and a very little more ad-
vance will probably result in some exports OF
gold. There would be nothing unusual in this,
as a renewal of gold exports has occurred for
two years past in October or November. But
this year there appears to be reason for expect
ing some larger gold shipments than usual.
owing to the recent large decrease In the me-
talic reserve of the Bank of England. There
has been rather unusual withdrawal of coin
from the Bank of England since the middle Of
September for circulation in Scotland and
other parts of Great Britain, but the greater
fact is the Withdrawals of gold for South
America, which have probably been something
like 900, or say from 81, ,00O 900 to S8000 900
in the last four weeks. These heavy with
drawals of gold have caused good deal of un-
easness in London. The evidences of this
easness were manifested in the sudden ad-
vance paid here for cable transfer to London
on Tuesday, showing that there were appre-
tensions in regard to the settlement in London
on October l. But the fact that the Bank of
England did not advance itserate of discount
to-day is evidence that the governors of the
bank do not regard the situation as being 80
serious as might otherwise be inferred
The following table shows the prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY q STEPHENSON, oldest Pittsburg mem
bers of New York Stock Exchange, 81 Fourth
avenue: