Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-24
THE FEELING EASIER.
The Demand IL small and Prices are
Dropping A Small Rally, With
Close Dull and Heavy-The
Monav Pinch Over.

NEW YORK, August 23.-It became known
that the acceptances of bonds yesterday aggre-
gated about So 300, 900. and the feeling on the
monetary situation was perceptibly easier this
morning. and while there was little attention
paid to the threatened strike. the chances that
there would be one were believed to be small.
Little demand for stocks appeared, however,
and the opening prices were irregular as COM
pared with those of last evening, the changes
extending to n per cent either way. The gen.
eral expectation was to the bank statement, as
it would not ref ect the purchases of bonds for
the past two days, would show a further loss in
the reserve, and the local operators were in
clined to take the short side again for turn.
with the result that prices were dropping
throughout the greater part Of the session. No
special weakness ap psared except in Sugar Re-
fneries. Cleveland, Columbus, Cincinnati and
st. Louis and Chicago Gas in declines of rs
1as and, " per cent respectively were forced.
The losses In the rest of the list extended to
only "a per cent. and before the close Of the
first hour a substantial rally occurred. Ex-
treme dullness then intervened, and little or
no change took place until after the issue OF
the bank statement, which reflected deficit Of
S2500. 900 in the surplus reserve. and the droop-
ing tendency was resumed. The close was
therefore dull and heavy at fractional losses
for the day in most cases, though there were
some advances, and Sugar Refneries is down
per cent.
Railroad bonds were very dull, the sales be-
ing only Sz45, 000 and while there was gener-
ally heavy tone most of the active bonds show
gains, Louisville Southern frsts rising to 81.
Government bonds were active and steady.
State bonds were neglected
The Post says: The effect OF the threatened
railroad strikes seem now to have been to
large extent discounted. If the Knights of
Labor decide to-day to try to institute gem
eral strike, 1t would probably have some slight
further effect to depress the stock market.
But the main question is in regard to the rates
for money, and so far as this is concerned there
is abundant reason for believing that the pinch
is over. The importing merchants have been
compelled to stop their excessive importations,
as is clearly shown by the latest statistics of
imports at the port of New York. The offer Of
the Treasury to redeem the AZ per cent bonds
at par and interest to maturity September !,
1891, has already brought in nearly "a co., 900 of
the $40 00O 600 called. and the rest will undoubt-
edly come in few days. As soon as capital in
London finds that there is not going to be any
serious financial trouble here, but that q fair
rate of interest can be had for money, 1t will
come, and. though money is likely to work close
during the remainder OF the year, there 10 no
reason to expect continuance Of any decided
stringency.
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, old Pittsburg mem
bers of New York stock Exchange, 81 Fourth
avenue;