Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-07-03
A FEATURELESS MARKET.
Dailness TO n Marked Degree Prevahs
In Wall STRENGTHENING Valley
the Leader of the Day.

the Leader of the Day.
NEW YORK, July 2-The stock market to-day
offered even less opportunity for comment than
that OF the preceding days Of this week. tne
dealings being smaller and the tuctuatlons on
reduced scale, while the slight movements
in the list, especially after the first hour pos
sessed no significance whatever The trading,
such as it was, was entirely professional In lts
character. and as even the professionals Were
disinclined to trade there was little or nothing
of interest in the market To-day some ANNA
tion was displayed at times In LacKa-
wanna, Reading, Lead Trust, New England,
Louisville and Nashville and Hooking valley.
but except for the dividend in LOUISVILLE and
Nashville there was nothing of a character to
have any influence either upon the amount of
business done or the course of prices Hooking
Valley furnished the only really important
movement of the day, rising to above ~ again
and holding the advance well. few large
lots of Reading changed hands toward noon.
but the changes i'll its quotations were not on a
parity with the business done. In the regular
list, New England was the only stock showing
any advance of note. and with Reading and
Lackawanna was the most active STOCK on Inc
list. Pullman again moved up and SHOWS a
gain Of ~ per cent this evening. but STANDS
alone as the one stock showing any materla!
Improvement, The dividend on Louisville and
Nashville failed to have any effect one way OF
the other. The market finally closed dull and
steady to firm at insignificant changes for the
day for most of the list.
Railroad bonds were comparatively more ami
mated than stocks the transactions for the day
reaching $50, ,0G0. but the tone of the dealings
was of the same kind. stagnat1on being the
principal feature. The default in the interest
on the San Antonio and Arkansas Passenger
frsts caused a sharp setback to those bonds,
and to-day the 65s sold at ~ and the Sos at ",
against S715 and S7L respectively at the last
sales. Milwaukee, Lake Shore and Western,
Ashland division 6s, rose ~. to l20.
Government bonds have been dull and
steady.
State bonds have been dull and featureless.
The Post says: The United States Treasury
was debtor at the Clearing House in the sum of
So. 422, Ill showing that large amounts are al
ready coming out and that an important effect
may be expected on the next bank statement.
Hooking Valley has attracted attention late
The net earnings for the four months
to April 80 were s263. .S74, an increase
of STA All, or SO per cent But this increase is
in progress yet, and has been mainly in the last
few months, as Is shown by the fact that the
net earnings for April were Sl35 725, an increase
of S6S. .356. or ia per cent. The San Antonio
and Arkansas Pass Railroad is understood to
have defaulted yesterday on the interest on its
first mortgage bonds. The net earnings in the
year to June 80 1882 were $371, ,278, and, as the
gross earnings thus far this year have been
S706 400 in the nearly six months to June q,
against only $5l6 45S in the same period OF 1889,
it would seem that the net earnings, II availa-
BILE, should be more than equal to the annual
interest. The difficulty is that the company is
using all its money in extensions east of Hous-
ton and west of Arkansas Pass, and is putting
out new securities for the extensions.
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-