Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-13
NEW YORK STOCKS.
Shares Feverish and Weak on Panicky
Foreign Feelings-No Disturbing EIe-
ment in the Domestic Situation-Rail-

ment in the Domestic cSituation-Rail-
| road Bonds Weak in Sympathy.
NEW YORK, May 12.-The stock market
| again hesitated to-day, and there was re-
| newal of the selling pressure on limited
scale, while the buying, which was so marked
feature of yesterdays trading, was entirely
lacking. Under the circumstances prices
dropped, and in some cases declined materi-
| ally. The principal cause for the check to
| the upward movement is to be found in the
/ disquieting news from abroad, the London
and continental bourses being depressed
through heavy sales of Portuguese and
| Spanish securities, which brought every
| thing else along with them to some extent.
There were further engagements Of gold,
but these we're not Of such magnitude as to
| is to be traced to the fear of further finan-
| cial complications abroad, which will neces-
state further call upon us for funds. The
favorable items in the situation are all to be
| found In this country and the situation in
| the stock market hinges upon the probabili-
| ties of further withdrawal of gold in the
neor future or a return of some Of that oil
moved, therefore, the general expectation
is for feverish and unsettled market, with
little animation outside of the leading
stocks, which are not in the hands OF
cliQues. IA
Early advices from London this morning
reported a panidky feeling there, and the
same was reported Of Paris, and at the open
ing of our market, London was o seller to
moderate extent, making a feverish and
lower opening, the losses from last nights
figures extending to u per cent. There was,
however, an undertone of strength left in
the market, and most of the opening losswa
regained in the early trading; but the lack
of buyers soon made itself felt, and q droop-
ing tendency became prevalent, which
carried prices down again, and they re-
manned below the level of the opening for
the rest of the day.
The Industrials were again prominent in
the market, taking second rank to the
Grangers; but Sugar was decidedly weak
and Cordage only little less soa.i The steady
decline in prices reached material proper
tions toward the delivery hour when an
effort to cover shorts made a slight rally in
the market. The only strong point in the
list during the day was the Wheeling and
Lake Erie preferred stocks, which are alone
this evening in showing small advance
The market finally cl6sed quiet but weak, at
or about the bottom prices. Everything,
with the one exception noted, is lower, and
Sugar declined 2Lc; Chicago, Columbus, Gin
cinnati and st. Louis, Rock Island and Louis
vile, ~; Pacific Mail and Union Pacific, 1s4;
Atchison, Northwestern, st. Paul and North
ern Pacific preferred, "; Burlington, IL,
and New England, per cent.
Railroad bonds were uninteresting to-day,
the sales reaching only 81, ,000, but the move
ments sympathized with the weakness in
stocks, and prices are in almost all cases
lower.
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: