Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-21

done. While there was no pressure of long
stock upon the market there was. during the
greater portion of the day, a dropping tendency
in the general list. though no impression was
made upon prices except where the bears were
testing, and that to only very limited extent.
Both parties in the speculation, If such 1t may
be called, are holding off for the present, pend
ing the April disbursements. and, in the mean
time, although the bank reserves are low. the
absence of a demand for speculative purposes
Keeps rates easy, and there is no lndlcatlon OF a
money squeeze between this and April l:
There was verJ little in the general list to-
day, but some selling of Union Pacific was
done, and it yielded slightly. Missouri Pacific
was also pressed for sale and shaded OFF to
slight extent, while of the other Gould shares
Western Union alone showed any life and that
was weak. losing nearly per cent after selling
ex dividend. Sugar retineries was the special
feature of the day, and it moved up at first on
the expectation that the permission to declare
the dividend would be granted this morning,
but, when the decision was reserved. it again
fell away. Later, however, there was an i'm
proyement, and the stock closed at last nights
figures.
In the regular list only Tennessee Coal and
the Wheeling and Lake Erie stocks showed
any real strength. and the first named moved
up from 81 to 543, the rumor being that the
Brice-Thomas party had acquired large block
OF the stock, and that the late depression had
been for the purpose of accumulating the stock.
Wheeling and Lake Erie preferred rose 21a per
improvement. The market finally closed dull
and steady. with only a few unimportant
changes.
The railroad bond market presented the same
duilness and stagnation as stocks and the sales
of all issues reached only $685.. 900. while the
fluctuations were small and unimportant III all
but few instances. The dealings showed ab-
solutely no special feature whatever.
The Post says: For the advance in Wheeling
preferred there Is some reason in the facts that
1t represents an improving property, with rap
idly increasing earnings, and that the advance
in its price has been moderate, being only two
points since March l. and that as a per cent
that pays 5H per cent. But for the wild fuctu-
ations of Tennessee Coal from 50 month ago
TO 42H on Tuesday. and back to 5413 at noon to-
day, there are no causes in anything connected
with the business or prospects OF the property
itself. They have been caused entirely by the
either know nothing about the value of the
property, or else must have ignored the fact that
stock on which the net earnings in 1889 were
scarcely equal to per cent was not worth over
90 at the utmost.
Even if it were regular dividend paver of
per cent it would not be worth more. But as it
is only possible divdend-payer some time, a
SO than such other prospective dividend-payers
as Union Pacific or st. Paul are at their present
respective current prices. Canada Southern
not only earned, but paid. last year per cent
and yet was selling at almost exactly the same
price this forenoon as Tennessee Coal at which
a per cent dividend will certainly not be paid
this year, and possibly not next year.
The following table shows the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for The DISPATCH by
bers Of New YORK Stock Exchange. 81 Fourth ave-
nue.: