Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-25
STAGNANT WALL STREET.
NEITHER GOOD NOR BAD NEWS HAS
VERY MUCH EFFECT.
Stocks Lifeless, but Strong-The Selling
Down of Burlington About the Only
Feature-Coal Shares Decline in the
Last Hour-Ronds More Active

Stocks Lifeless, but Strong-The Selling
Down of Burlington About the Only
Feature-Coa1 Shares Decline in the
Last Hour-Bonds More Active.
NEW YORK, July 24.-The stock market TO-
day still continued in its rut of dullness, but
under the circumstances displayed marked
strength. The bears were favored by the
taking of 81, ,500,0 900 gold for export, but, not
withstandinQ this factor, their strength had
been so exhausted by the efforts of the last
two or three days that they were apparently
unable to take advantage of the aid ac.
corded
The selling of Burlington last evening was
reflected in an increased demand for the
stock in the loan crowd, and while there
was still considerable manipulation of the
price in the downward direction, it seemed
to be more for the purpose of covering the
already outstanding short contracts to
further depress the price. The other active
stocks which included only st. Paul, Louis
vile and Nashville and Atchison, were COM
paratively quiet to-day, and in company
with all the rest of the list fuctuated within
the narrowest limits.
The market was never more entirely at a
stand-stin than now. 1t responds to neither
favorable nor unfayorable developments,
and large crop movements, increased earn
ings and the easy condition of the finances
both at home and abroad fall fiat upon the
market, as we'll as gold shipments and bear
drives at special stocks. In fact, the pre-
vailing dullness is the most powerful bear
argument brought to bear. The operators
in stocks, both large and small, are all wait
ing for developments, and the influence of
the foreign situation, with its disagreeable
possibilities for the time being, entirely neu-
tralizes the effects ef the fattering pros
poets at home.
The market opened this morning with q
continuance of the pressure to sell of last
evening but there was more resistance Of
fered to the decline, and it soon ceased,
after which the entire market remained ut
terly barren of feature outside Of the actlv-
ity in Burlington and the selling down of a
few specialties, with the sudden decline OF
the Coal stocks in the last hour. The gen
eral list throughout remained dull at the
same level Among the SpeclaltieS which
showed marked weakness, East Tennessee
second preferred, Lackawanna and New
England were specially prominent, the
losses being apparently for no reason be-
yond pressure on a market with no demand.
The market finally closed very dull and
heavy to weak at the lowest prices, but with
mos. of the list at insignificant changes
preferred lost ~; New England, 1ss; Lack
awanna, l. and Burlington, "a.
Railroad bonds showed little more char
acter than usual of late. but the movements
were quite irregular and confined to the in
active issues The tone of the general mar
ket was fairly steady, but resulted in no
material changes among the active bonds.
The business done reached $5SS,000 with
transactions in a large number of bonds, but
no animation in any part OF the list. The
important changes are generally in the
direction OF lower figures, while Denver and
Rio Grande 5s rose 33s to so.
The following table shows the prices of active
stocks on the New York Stock Exchange yesterday;
Corrected daily for THE DISPATCH by WHITNEY &
STEPHENSON, Oldest Pittsburg members of the
New York Stock Exchange, 81 Fourth avenue.