Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-08-15
NARROW AND DULL.
Money the Important Question-No mnte-
rial Change In Quotations - Sugar
Makes Considerable Gain-Close

Vu1et ana StrOnRs
NEW YORK, August A.-The money ques-
tion still continues to be the most important
one in Wall street, and the market is again in
waiting mood owing to the non-success Of the
Secretary in securing enough silver to make an
issue of notes that would have any effect upon
the rates for money. To-day there was feeble
attempt to get prices down again, bit only in
Rock Island was there any impression made,
and that was partly neutralized by publication
of the fact that the earnings Of the road SO far
this month we're in excess of those OF last year.
which was tho largest month In the history of
the company.
The market, as usual. for the past few days
opened with a little boom, but the demand was
not sufficient to keep up the improvement, and
only slight pressure sagged prices off slowly.
The early London figures were lower than ours
of last night, but the rally in progress at the
close was carried over this morning, and first
prices generally showed advances of from n to
n per cent over last evenings figures. The
movement in Rock Island was the only feature
of the forenoon's trading, and while there was
a dropping tendency developed, no material
change in quotations was brought about. In
the dullness of the regular list, however. Sugar
Refueries was again brought to the front, and
after the first hour. showed considerable
activity at advancing prices. 1t scored a gain
of nearly per cent over Its lowest
figures. but failed to stimulate trading in
anything else in the market Denver and Rio
Grande preferred was the strong feature of
the regular list, and until the last hour was the
only stock showing any real strength.
The money market eased off late in the day,
however and an easier feeling on money pre-
vailed. The bears. soon realizing that the situa-
tion had changed, began to cover their shorts.
A sharp upward movement took place at that
time, which sent Sugar Retineries up 8 per cent,
and the stocks of the regular list from fractions
to ~ The demand ceased only with the close
of business, and the close was quiet but strong
at the highest prices OF the day. The entire
list is higher tonight, and Sugar is up 25s;
Denver and Rio Grande preferred. IN; Bnrling-
-Four. Lake Shore and Missouri Pacific, per
cent each and Great Northern preferred, TX.
Railroad bonds we're still duller to-day, the
sales of all Issues reaching only $557, ,000 There
but later a firmer tone was noticed in sympathy
with the improved feeling on stocks Govern
ment bonds have been dull and steady. State
bonds have been entirely neglected.
Tho Post says: The stock market Is SO mar
row and dull that it invites such attacks from
the bears as that made on Rock Island this
forenoon. But one of the chief factors in keep
ing it dull is the higher range of the rates of
interest for all loans thus far this summer than
at any corresponding season for several years.
Just now New York exchange in Chicago is so
to 80 cents per 81 900 discount indicating con-
tinued movement of money to the West at an
earlier date than usual Money is easy in Lon
don, and the exchange market Is weak enough
to make the prospect that some little OF the
gold sent out two weeks ago may come back.
But the United States Treasury is still the
great sink hole of the money market as shown
by the report from Washington that yesterday
the treasury gained 81, ,057, 200.
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
IT Nex Yart ssoes 9 "
avenue: