Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-06-26
Wall Street Awaiting Developments on the
Free Coinage Act-Sugnr Trust Stock
Dealt In Quite HfoderareIy-Big
Snle 0f RendinU lt,cI,

DenIt In quite mOd0ratoIy-RiR
sale of Reading Stock.
NEW YORK, June 25-The street is still
awaiting developments in the matter of the
| silver bill, the railroad difficulties and the
Sugar Trust muddle but in the absence Of any
special bear pressure, quotations follow their
natural bent and slowly appreciate, notwith-
standing the most intense dullness. The ex-
ports of gold seem to have about exhausted
themselves. and still the money market main
tains a condition Of marked ease, and while all
the conditions of business, both for the rail.
roads and all other lines, are most favorable.
the general disposition is to wait the events of
the near future.
To-day the excitement in Sugar Refneries
calmed down, and the dealings In the stock
were brought down to very ordinary propor-
tions, especially after the early liquidation of
long accounts had been completed. That opera
tion carried its price down to &c. but as it had
already touched that figure during the past
week. its decline upon the decision seems not
to have been material. The feature of the day
was the activity and strength in Reading,
which once more took the lead of the regular
list, and rose to AZ against 445z last night The
buying is understood to be for the account of
the people who succeed Mr.. Corbin and his
party in the stock, and who are the people who
were very prominent in the REORGANIZATION of
Richmond and West Point some years ago
Five thousand shares were bought for the
account of one of the leaders and
the price rose above the limit, which
checked the activity advance. Chicago
Gas was dull and stagnant to-day with the re-
mainder of the list and even the speciaIties
which usually furnish one or two sharn move
ments even in the dullness were without feat
ure of interest. st. Paul, on the buyipg of the
Western operators, was comparatively promi-
nent in the market but its fluctuations were
confined to the smallest limits. The action of
the sales agents of the coal COMPANIES had its
influence upon the coalers, and the Vanderbilt
dividends were an element of strength in the
market. Good buying of Atchsop made it a
prime favorite in the last hour and a rise of
nearly per cent followed, but there we're no
features in the rest of the list and dullness and
stagnation were the rule. The close was quiet
aud firm to strong generally at about the best
of the day. The final changes we're almost all
for small fractions, but while Reading is up "a
and Atchison lH, Sugar is down 21s.
The railroad bond market was as dull as
that in stocks, and like the stock market
showed more material changes in quotations
than usual of late. The movement 10 Reading
extended to Junior bonds, and the seconds rose
21 to IS. They were the only features in the
market, however, notwithstanding that other
Charleston firsts rose to 107. The losses were
Louisville and Nashville Cecilian IS 81 at 1O6;
San Antonio and Arkansas. 1885, 234 at 861z.
Government bonds have been dull and steady
State bonds have been quiet and steady.
The Post referring to the movement in Read
ing says: This was merely marking up of the
price by the pool which controls Reading, and
was done in consequence of the proposed ad-
vance of 10 per cent per ton to be made after
July l in the price of coal. There is nothing
special in the condition of coal trade to war
rant the advance in price as is shown by the
fact that the companies, while voting yesterday
to advance the price of coal. also voted to re-
strict the output to 3250 900 tons in July OF this
year against 3,627,522 tons in the same month
last year. There were probably no shorts in
Reading to be squeezed by the advance in the
stock because the pool some months ago DEM
onstrated their ability and their determination
to keep the price of Reading stock up as high
or higher than the SIS. ,244 third preference
incomes, which come ahead Of the s3S s7y, 800 OF