Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-10
SPECTATORS HOLD BACK.
WALL STREET NOT INCLINED TO BE
vENTURESOME NOW.
Stocks on the Down Grade Most of the Day
Cordage Makes Bad Break Toward the
Close-Foreign Selling of Louisville and
Nashville.

Stocks on the Down Grade Most of the Day
Cordage Makes Bad Break Toward the
CIose-Foreign Selling of Louisville and
Nashville.
NEW YORK, July Notwithstanding the
abundance of money available for specula-
tive purposes, together with the bright pros
poets of the coming season, there seems for
the present to be no disposition to enter
into any ventures in the stock market, and
dullness, narrowness and general stagnatiOn
still mark the trading. To-day there was O
reversal of yesterdays movement, and frac-
tional losses were the rule, though only
among q few stocks was there any percepti-
bic tendency in prices
The rate of the Bank of England re-
manned unchanged this morning. and the
best observers proclaim that there is no
indication of a further shipment of gold
this week. but the traders thought they de-
tected a selling of Louisville and Nashville
for foreign account, and they attacked that
stock with some effect. The Grangers came
in for some of the same kind of attention,
and especially St. Paul and Burlington
weakened under the pressure. The re-
lnainder of the market was as a rule, devoid
OF feature from the opening to the Close
though Jersey Central lost "a portion of its
late advance. The traders, who are in COM
plete possession of the market, such as it is,
after being scared into the covering OF their
shorts, have discovered that the expected
demand for stocks has not materialiZed. and
are again encouraged to put out the stocks
SO lately covered, but only few shares are
deemed vulnerable enough to make the
risk in, and the market, therefore, continues
to be all in the few shares which have of
late been most prominent in the dealings.
These to-day include only ST. Paul, Burling
ton, Louisville, Atchison and Chicago Gas,
but the last named was the strongest of the
lot, without news of character to have
much effect
dull, and under the pressure the leading
stocks made considerable progress toward
lower figures in the first hour The declin-
ing tendency was unrelieved by any feat
ure OF note until late in the day, when
Cordage again gave way, dropping 22 per
cent and recovering only small portion of
the loss. The three or four active stocks
showed losses of something over per cent
at the lowest prices, and with some covering
in the last hour a shade was recovered. The
close was very dull and stagnant, with the
active shares at close bottom figures. The
hnal changes are in almost all casee insignifi.
cant, but Wheeling and Lake Erie lost ~;
the preferred, 1a; Cordage, 1L Burlington,
l1s; Missouri Pacific, i, and st. Paul, Union
Pacific and some others large fractions.
Railroad bonds give about the usual
amount of business and displayed rather a
stronger tone than stocks, but felt the
weakening influence and failed to score any
material change. A large number of issues
were traded in, but the transactions were
without importance and the fluctuations
hardly perceptible in most of them. The
business of the day reached s767, 900.
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by WHIT.
NEY STEPHENSON. Oldest Pittsburg members Of