Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-06-09
THE WALL STREET BUGBEAR
CONTINUES TO BE THE OCCASIONAL
SHIPMENTS OF GOLD.
1t Still Tends to Depress the Stock Market,
Which Is Sustained Only by Favorable
Crop Prospects-Last Prices Better Than

1t Still Tends to Depress the Stock Market,
Which Is Sustained Only by Favorable
Crop Prospects-Last Prices Better Than
heDay's Lowest.
New York, June S-The stock market con-
tinued to show the uncertainty which has
been the principal factor in the making of
values for securities, and while some con-
fidence was shown at the opening, and frac-
tionaIly higher prices were established in
the early dealings, the Improvement in
values induced realization, and the selling
was increased by an announcement that a
sum of gold had been taken for export and
that more would follow. This Immediately
caused not only a reaction from the high
prices of the opening, but also small losses
in all the active shares. On the other hand,
the reported shipments of gold were soon
contradicted, and full recovery followed,
showing conclusively that this influence
alone keeps the market down and prevents
covering of the outstanding short in
stances.
A generally accepted diagnosis Of the sit
in the same dull and listless condition until
the gold shipments are known to have
ceased or some damage has been done to the
growing crops. The latter seems to be the
6rincipal Sustaining influence to-day. In
| the railroad list there was little or no fea-
| ture after the occurrence: noted, ana the In
| duStrialS furnished nearly all the interest,"
there was in the dealings. Jersey Central
| sold ex-rights, and the expiration of the
| time was signalized by a renewed weakness
| in the stock, which at one time was down
| 81 per cent.
Rumors unfavoraple to the crop situation
were circulated in the afternoon, and as
| they were accompanied by considerable
| pressure to sell not only the stocks which
| might be affected by small crops, but many
others as well, it is reasonable to suppose
| that the rumors had O speculative origin:
| Prices were depressed to the lowest level OF
| the day. however, and the active shares
] showed losses of from Il to ~ per cent, but
| this was followed by an active effort to cover
I shorts, and the last prices were something
| better than the lowest, the market closing
| firm though quiet on the rally.
fiuctuated rather widely, and while st. Paul
| showed nearly as large total at the END OF
| the day, its Importance in the dealings was
| tant change in quotations, as the result OF
| the operations OF the day, and last prices are
| irregularly changed for small fractions only.
Railroad bonds were q little more active
| than usual the sales of all issues reaching
| s667 OO0 but the activity in Northern Pacific
| is accounted for most of the increase, they
furnishing Sl50,000 to the total. They were
| weak in sympathy with the stock, but lost
| only q fraction, and the other changes, as
| usual, were for insignificant fractions
| 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, q Fourth avenue: