Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-05-04
CALLED A HALT.
Dealings In Railroad shares Show n De.
cided Loss of VIm-The Railroad
muddle Disturbing Element
Insignificant Changes.

| lnsiRn1ncant Changes.
NEW YORK. May 3-The stock market was
! quiet to-day in comparison with the large bust
| ness of late. 1t remained feyerish with no
marked changes except in a few shares, which
| were affected by special influences. This was
most marked in the granger stocks, Lacka-
| wanna, Oregon and Transcontnental, Manhat-
| tan and Wheeling and Lake Erie both pre-
| ferred and common. Trading to-day was of a
professional character, but the pressure was
| from Chicago. While there was a good demand
for speciaties there was a feeling of disap-
pointment about the condition of the railroad
war There is nothing to show that the settle
ment contemplated is intended to cover any
thing but passenger business, while the war of
freights, which represents the most important
part of the railroads earnings, is likely to con-
tinue.
llThe market was up and down within narrow
limits with no movement at all worthy of note
in the general list, and only in a few special
ties was there anything like life Oregon I'M
provement, the Chicago, st. Louis and Pitts
upward spurts, but these constituted the only
features in the trading There was better
tone developed toward the close on the scarcity
OF stocks offering. and the close was fairly act
i've and firm at insignificant changes for the
day. st. Paul, Atchlson, Oregon Transconti-
mental and Richmond and West Point were the
active stocks.
Railroad bonds were quiet to-day, the sales
for the session being s1,067.OOO, with
Texas Pacific seconds and Atchison
incomes the leading active features.
State bonds have been dull and neglected.
Petroleum opened weak at IS for spot and 85sS
for June option. Spot oil moved up to 85sa.
then became dull, and remained SO until the
close June option fell to IS and closed dull at
that figure.
,osss stock E Exchange change opening s5 highest s5l
closing, s. Total Sales $4,000 5arreIs. % The
exports of specie from port of New York last
week amounted to S283, S9S of which S86 67S was
in gold and Sl97,220 silver. The imports of
specie for the week amounted TO s. S07 of
which S. .176 was in gold and S7263l silver. The
PoSt says: The early prices for stocks in Lon
don this morning were generally lower than
the closing quotations here last night, and this
was followed by lower prices here for nearly
all stocks throughout the short session. A re-
action has been expected for several days past.
,.rHss paiees had .% gone up 50 steadily for two
many of whom had carried long stocks
Tor two or three months. had pretty
well sold out, and many of them had
put out lines of shorts, in st. Paul, Union Pa
ciic, Lackawanna, Northern Pacific, perferred.
Burlington, and some others. The news Of the
cut made by the Eastern Minnesota and
frelghts from the Northwest to Atlantic sea-
board. thus threatening to cause another |
freight war among all the Northwestern roads |
together with the reports of labor strikes in
Europe and United States, also had some effect. |
The reaction, however. was much smaller to- |
day than might reasonably have been expected |
under the circumstances. showing that there is |
an extremely strong prevailing sentiment in |
favor of a continued rise in prices, which is |
not likely to be changed, except by some |
thing more unfavorable than the occurrences |
of the last day or two. There is o reasonable |
probability that prices may react still further |
on the first two or three days of next week but |
at considerable reaction speculators are pretty |
certain to be buyers again, because they see it |
is easier TO advance prices than to depress them.
The following table shows the prices Of active
stocks on the New YORK stock Exchange yester-
day. Corrected daily for The DISPATCH by
WHITNEY & STEPHENSON, oldest Pittsburg MEM
bers of New York Stock Exchange, 81 Fourth ave-
nue.: