Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-07
NEW YORK STOCKS.
Bears Have Their Inning, and Make 1t
Lively for the Corr Roads-The In
active List Down in Sympathy
Latest Prices Better.

New YORK, March 6.-The feeling among
the PROFESSIONAL operators IN Wall street this
morning was generally bearish, ana to this end
the general apathy of those to whom the public
is accustomed to look for support in certain
stocks had not a little to do. The tests applied
to the market during the past few days have
satisfied the bear leaders that there was an
opening for vigorous attack upon the
GranCers, which invite the attempt on account
OF the comparative losses in earnings due to
the shortage in the corn crop.
The bulls, also are somewhat discouraged be-
cause all the late favorable conditions have
failed to bring in buyers. and the prospects of 4
further out-go of gold, which the bears continu-
ally hold up as a bugbear, completely out
weighs the facts that the Bank of England
seems in no need OF gold at present. and from
week to week proves false the predictions of
the bears of = rise in its rate of discount
To-day the bears made the attempt to get
prices down by vigorously hammeriug the
GraDgers, and the tranSa ctions of the day were
run up to figure which has not been seen in
weeks, while the material declines forced in
those shares dragged most of the list down
with them. Naturally the corn roads suffered
most but st. Paul was paid attention to. and
Northern Pacific preferred, Chicago Gas and
Louisville and Nashville were weak and all
scored marked losses sor the day. The low
price stocks and the 1ndustrials were neglected,
and only in Illinois Central, which is included
in the corn roads, was there any movement of
importance among the inactive shares.
The opening was firm. with considerable for
eign demand, but the pressure was applied i'm
mediately, and the attacking column received
accessious as the morning wore along. and be-
tween II and o'clock the selling was fast and
heavy, the market being very active and de-
cidedy weak. After that time there was less
animation, and prices showed weakness only
in spots, though there was no recovery of I'M
portance Notwithstanding that there was con-
siderable covering in the late dealings. The
difficulties abroad. especially in the Argentine,
which are expected to be again reflected IN the
London market and SO here, cause the general
feeling among the street operators TO be still
beaTsh, though there is little likelihood of any
pressure from the other side as London is be-
lieved to be pretty bare OF Americans.
The close was dull and heavy at a shade bet
ter than the lowest prices. The final changes
are all in The direction of lower figures. but the
great majority are fractional. while Rock
Island lost ~; ST. Paul, rs: Reading, Pacific
Mail, c. Z. &. d st. L. anu Sugar. each N:
Burlington. rs; Missouri Pacific, l15 and
Chicago Gas and Northern Pacific preferred,
each per cent.
Railroad bonds were 4 little moro active but
did not sympathize to any extent in the weak
ness in the share list. the changes being. as
rule, confined TO the usual insignificant frac-
tions, while there was no marked tendency in
either direction. Sales, S. OIL 900.
Tne following table SHOWS the prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DIsPAICH by
WHITNEY & STEPHENSON. Oldest Pittsburg mem
bers of the New York stock Exchange, 81 Fourth
avenue: