Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-03-18
BULLS DISAPPOINTED.
They Lny Low for n Boom Which Did Not
Pan Out-sugnr Advanced ON
Cannrd-The Money

Question.
NEW YORK, March 1.-THE stock market to-
day was dull and somewhat disappointing to
the bulls who had expected O further response
to the very favorable news of last week. The
disposition, however seems to be to await fur
ther development on the money question,
though there seems to be no lack of funds seek
ing borr wers. and rates on call rule from 8
to per cent. The bulls early in the day ran I'D
against the Disappointing earnings reported by
the Union Pacific for January, and further
break in Tennessee Coal, which was attacked
by the professional traders and stop orders be-
ing uncovered drop from 4715 to 49, resulted
First prices as rule were generally higher
than the final figures of Saturday. but the fac
tors above noted soon neutralized the early
gains. The bears, however. meeting with no
response from the rest of the list, withdrew the
pressure, and some excellent buying of Atchi-
son for Boston account appearing the tone of
the market was changed for the better. Read
ing also was strong, and for some time TO-DAY
commanded a premium of "a OF per cent per
diem for use though it afterward loaned fat
1t was kept within narrow limits. however and
scored no movement of importance while the
business done IN 1t was comparatively quiet.
The Vanderbilts, as usual of late. showed a
stubborn strength upon light transactions, and
did much to help along the strength in the gen.
eral list. The most important movements were
again in the low priced specialtes, among which
Lake Erie was most conspicuous, the latter at
once time showing q gain of per cent. The
former was much more active than usual, and
rose to 3lA against 272s, as its last previous
price last week.
Sugar refineries was the feature of the after
noon. being pushed with marked increase in
activity on the report that the dividend was to
be paid, but the story was afterward denied,
and the improvement was all lost except a
small fraction The final changes are generally
in the upward direction, though only one i'm
oIuar xunQ naAa A
Gibson. On the other hand, Tennessee Coal is
down 2L per cent and Oregon Short Line ~
In to.days railroad bond market the Atchi-
son income 5s, which are believed by the in
siders in the property to be the coming specu-
lative security, FURNISHED $3.50 followed by
the Louisville, New Albany and Chicago con
soils with Sl65 900 and the Reading 3s with sI37, 600
out of a total days business of 81. .7S3 000 The
market displayed a more decidedly firm tone
than usual OF late, and almost all the import
ant changes for the day are in the upward di-
rectiun. Outside of the issues mentioned how
ever, there was little or no feature to the trade
Chicago, Burlington and Northern frsts rose 3H
to l031s.
The Post says: The established fact that the
Vanderbilt roads are all earning considerably
more than their regular dividends, and this
being applicable to the Lake Shore and the
C. c. C. and st. Louis, has had an effect TO in
crease confidence in the earning capacity of
the Middle State roads east of Chicago, and
stimulates speculation in their stocks.
The unprecedented depression in the anthra-
cite coal trade still has It's effect on the coal
prospects of the Lackawanna as regards its
trunk line business, and notwithstanding the
investment buying of its stock, it does not ad-
vance but hangs rather heavily about l36. On
the other hand, Reading which is much more
seriously affected by the condition Of the an