Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-31
MORE ACTIVE AND WEAKER.
THE TONE OF THE STOCK MARKET
LEAVES PRICES LOWER.

Foreign Selling of Union Pacific, Owing tc
the Omaha Bridge Fight, Depresses Tha
Security-Lackawanna and Burlington
Are the Strong Points Of the Day.
New YORK, July 3O-The stock market to
| day was more active. and, as usual of late
when active, weak and demoralized and the
result Of the days trading is to leave prices
| in most cases materially lower than those oi
| last evening. The feeling on tho street con
! tinues bearish in the main, but marked un
| certainty exists and positive opinions are as
hard to get as a month ago.
| After the concessions in prices seen during
| the month just past, there has arisen feel.
| ing that some sort of Il rally should be due,
! but no one seems to have the courage to
| back the opinion, and the traders ard pro-
| fessionals, who now have the making of
| prices, slowly increase their short lines as
| quotations melt away.
| This morning there were some selling Or
| ders in the market from both London and
| the West and this encouraged the bearish
| feeling among the professionals, who imme-
diately began to increase their short lines,
| paying special attention to Chicago Gas,
Union Pacific and st. Paul, which continued
| to be the leading active stocks of the dav,
followed by Louisville and Nashville and
Northern Pacific preferred. The important
movements of the day, however, were in the
three stocks mentioned, and while the rest
of the list were weak and declining they
took their tone from the operators in the
West.
The full influence of the late decision In
the Omaha bridge case seems to have been
felt on the other side of the water and the
foreigners were liberal sellers of Union
Pacific, making that stock the feature of the
day, and to its special weakness in tho after-
noon was due the. material losses suffered
during that portion of the day In the rest of
the lisr. As a rule, however, the general
market displayed considerable strength in
the face of the adverse circumstances, and
Lackawanna and Burlington actually
n nhnyn fip11r 6u r tIf.
greater portion OF the day, but lost the
strength toward the close. The declines
were aided by the persistent circulation of n
rumor of the impending failure of some i'm
port house, and the liquidation done was in
large measure due to the discouraging eff
feet of these stories.
In the forenoon, after O weak opening,
Chicago Gas and Union Pacific led the down
ward moyement,and these were Joined later
by ST. Paul and Burlington, while many of
the less prominent stocks scored marked
loss without heavy transactions. In this
class Evansville and Terre Haute, c., c., c. g.
st. L. and some others were conspicuous.
The downward movement was interrupted
from time to time by slight rallies, but their
continuance was of short duration, and still
lower figures were always reached afterward
until the last hour. The rally which took
place then, however, failed to reach all por-
tions of the list, and the market finally
closed fairly active ana weak at or near the
lowest prices of the day.
The final changes are all losses, but while
tney are IN lnOSC cases 1Or 1ract1Onal
amounts Union Pacific declined per cent;
G., C., c. & st, L., ~; Sugar l55ss; Lake Shore,
11s; Chicago Gas, 1I and Rock Island, Bur
ington and Louisville, each per cent.
Railroad bonds were also a little more
animated, the sales of all issues reaching
900; but while the tone of the market
was weak in close sympathy with shares, the
only material movement among the active
bonds was the decline in the Oregon I'm
provement 5s, which touched IS ut the close,
q loss of 9 per cent.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by WHIT
NEI STEPHENSON, oldest Pittsburg members of
The New York Stock EXchange, 81 Fourth avenue.