Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-05
NEW YORK STOCKS.
The Grangers Scored Several Importanl
Changes In the eMarket-Higher Rates
for Money Unless There ID q
Big Movement From

The Changers Scored Several Important
Changes In the Market-Higher Rates
for Money Unless There Js
Big Movement From
the Interior.
NEW YORK, May A-The stock market re-.
acted to-day, which was prominent at times
during lastweek, and while there was no great
activity outside of st. Paul, the Grangers gen.
orally scored important losses for the day.
The trading element which has fought for the
reaction for long time, to-day had the CO.
operation Of both London and the West In SELL
ing the list, while there was also some help ac-
corded them from local operators. who now bss
gin to fear the money question as feotor in
the making Of values again.
The prineipahbuyers, however, were the COM
mission houses with good connections. and
outside Of the specialties of the interests
named the movement downward was of insig-
nificant proportions. The export movement in
gold, however. furnished the bears po verful
lever with which to move the market, and it is
felt that any further outgo without CORE.
spending movement from the interior will re-
which, however, the bulls do not seem to regard
in a serious light. The features of the trading
In the market to-day were the weakness in the
Grangers, and especially Burlington and Rock
natl. Chicago and st. Louis. although the last
named lasted only a short time and
was was 90 on purchases by 2 few brokers.
that the dividend rate on common
was to be raised at next meeting and stock
placed upon per cent basis. Silver certifi-
nris, Sa1es were Yer neglected EXCEPT
were made at close to 100, but the ,sa me
rumors OF a supposed large oraer for shipment
abroad were circulated The selling of the
Grangers was persistent during the greater
portion of the day, but ST. Paul was well held
even though the trading in 1t was very large.
The pressure OF short stocks was specially
Pacific and Rock island. The opening was
heavy and the downward movement was unin-
terrupted from that time until well into the
afternoon when prices were down ~ per cent,
but toward the close there was an Improvement
and the market rallied and final figures were
considerably better than lowest of the dav
Beside Cleveland. Cincinnati Chicago and
stocks were prominent for strength and
especially in forenoon when they advanced in
the face OF weakness in the rest of the list, the
Strength being principally due 10 the fact that
the increase Of earnings for April was largest
In the history OF the company The close was
duh, but frm at the Improvement, but while
Wheeling and Lake Erie is up per cent, being
almost alone In showing q material gain, the
rest of the list are fractions lower, while
Louisville and Nashville lost lH and Burlington
per cent.
Railroad bonds were actually dull once more,
and while the dealings extended to a large
number of issue, the total business was only
s799. 900 and the transactions failed to develop
any feature Of note. Prices were steady, No
movement in any portion Of the iisr, while the
active issues like Kansas and Texas bonds and
Reading Issues. were inclined to drop.
Government bonds have been dull and easier.
State bonds have been neglected.
The following table shows the prices OF active
stocks on the New York Stock Exchange yester-
asE GoFTestef daily for rd TnF ptssmIom by
bers orthe New York stock Exchange. 81 Fourth
Rvenue'
,et Clos
Open High Low ing