Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-03-11
NEW YORK STOCKS.
The Dizziness of Monday Continued, and the
Operations in the Hands of the Trad
ers-London Doing but Little
in fbe SfocLS

NEW YORK March l0--The stock market to-
day was still dull, the trading being purely pro-
fessional, and the movements accomplished
were evidently the result of the operations of
the traders alone. The covering of shorts
seemed TO be completed and realizations on the
rise of the past two days began which, as
usual. brought in more selling for the short ac-
count as soon as it became evident that the rise
was checked. The selling by London was
checked few days ago That center is dong
nothing IN oGr stocks at present and this
morning the arbitrage houses were sellers on
the advance like the domestic operators.
The dealing, outside of the professional op-
erations in the Grangers and Louisville dcvel-
oped only one feature, which was the renewed
selling of Atchison securities. The general
opining has now become settled that from the
way the earnings have been running of late
there will be nothing this year for the incomes,
andth weakness in the bonds was the one point
of interest in the transactions The stock
failed to sympathze fully with this movement,
but was weak ana led the afternoon decline.
The selling of the forenoon was confined first
10 Burlington, ST. Paul, Rock Island and
Louisville, but Lackawanna was attacked
later, and Atchison followed. The general list
showed few marked movements among the
inactive shares. among which the drop
tions in Oregon Navigation, and loss of
u in Buffalo. Rochester and Pittsburg were
most prominent. The declaration of quar-
terly dividend OF ~ per cent was the immedi-
ate cause of the movement in Navigation and
other movements among the general list were
from special causes. The coal stocks were the
last to feel the pressure, but after moderate
losses the attack was discontinued. and it is be-
lieyed that the resistance was too stubborn to
warrant any further effort to get them off The
general list rallied fully in the afternoon after
losses which extended to ~ per cent. but the
final dealings were again rather hesyy and the
market SO closed with very moderate volume
of business. The final changes are in all cases
slight and quite irregular the most important
being decline of q per cent in Lackawanna.
1he railroad bond market was enivened by
heavy selling movement in the Atchison in
comes ana thuse bonds retired to $685. but re-
covered at the close to 3915, loss of IL per
cent from last nights figure the sales reaching
s42LOOO out OF a total days business of only
SSS, 600 There was little animation in the general
list, and as rule the movements were on the
same limited scale. though Louisville. New
Albany and Chicago consol< con tiuued its RISE
reaching 81 after selling at g7h
Government bonds have been dull and steady,
State bonds have been dull ana featureless.
The Post says: The reported improvement
in the aspect Jf hnahcial affairs in London is
corroborated by the facts that the foreign ex-
change is easier. that the Continental demand
on the Bank of England appears to have
ceased, and that at the request of the Bank of
England Messrs. j. s. Morgan & Co. have
signed a contract for the agency of tie Argcn-
tine confederation, acting as bankers for
commission. This looks as though the Bank of
England would, to a large extent, assume the
financial management or direction of Argentine
affairs. and if any stability can be impaired to
The Argentine Government there is no reason
Ia doubt that the losses Argentine invest
ments will be comparatively small
The Lehtgh Navigation Company to-day de-
clared quarterly dividend of II per cent. paw
able April l5, and the Western Union Executive
Committee have recommended the declaration