Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-12
MOVED UPWARD LISTLESSLY.
YESTERDAYS MARKET A FITTING END
TO AN INTENSELY DULL WEEK.
The List Generally Held Within the Narrow
est Limits and Only q Small Amount of
Buying Takes Place-No Animation Was

The List Generally Held Within the Marrow
est Limits and Only q Small Amount of
Buying Takes Place-No Animation Was
Shown.
NEW YORK, July 1.-THE stock market was
fitting end to a most intensely dull and
lifeless week. At the stock yards the deal
ings were devoid of interest The demand
for shorts with q little new buying served to
keep prices moving upward in q listless sort
of manner until the issue of the bank state
ment which created rather disappointing
impression with its small loss in
surplus reserve and immaterial losses
In other items. The only movement Of
note was that in C., C. &C. st. L., which rose X
per cent on rather large business for that
stock but afterward lost the entire improve
ment. The rest of the list was held within
the narrowest limits and only st. Paul,
Atchison, Burlington and Louisville showed
any animation whatever. The industrfals
and silver certificates which have monopo-
1izea so large a proportion of attention
lately were quite neglected. The opening
was firm and further advances of from IA to
Il per cent were scored, but the late trading
neutralized these gains to large extent
and the close was rather heavy at insig-
nif1cant advances over first prices. The
final changes are in all cases Insignificant.
Railroad bonds were relatively more active
than stocks and displayed a more decided
firm tone resulting in some material gains
among the inactive issues. Among these,
Houston and Texas IS rose ~ to s21S. The
sales were $4S1, 900. Government bonds dull
and firm State bonds neglected.
The Post says: At the present moment the
financial markets are practically becalmed.
The outlook mutually favors the bulls side,
but the bulls are showing no disposition to
take advantage of the situation, and there is
practically no outside interest. The ease in
loan market is largely an effect and illus
tration of the reluctance OF bull operators
D. ,t,,ro 70 inf ha ma nd is
not altogether legitimate argument on the
bull side. Thus far the only noteworthy re-
suit of the heavy July disbursements is
money to lower their rates. This change
has been slight but perceptible and does not
indicate a belief on the part Of tenders in
great speculative activity and consequent
Squeeze in money. To-days bank state
ment, as was foreshadowed i'll this column
Yesterday afternoon, showed a relatively
small change for the week in cash holdings
pointment, for considerable increase was
very generally predicted. The market,
however, was too dead to reflect any such
feeling.
the reason for limiting the offer of new
Louisville stock for shareholders subscrip-
tion to $4,So0, 900, when $1,000 900 had been
authorized. There ought to be no wonder
ment on this score. The g 360,0 900 which will
result from the present subscription will d
little more than pay for the Kentucky Cen
tral stock recently acquired, which was the
only immediate requirement. There is rea-
son to suppose that the Louisville will have
occasion before long TO pay for other stock
similarly acquired, but it would be obviously
bad policy to sell the rest of authorized
stock at the present low prices, when the |
cash is not needed.
The Finish at New York.
The following table shows the prices Of active
stocks on the New York Stock Exchange yester- |
day. Corrected daily for THE DISPATCH by WHIT |
NEY & STEPHENSON, Oldest Pfttsburg members of |
the New York Stock Exchange, 81, Fourth Avenue: |