Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-20
THE DAY In WALL STREET.
CONTINUED GOLD SHIPMENTS CAUSED
SALES FOR BOTH SIDES.

| Tho Market Bearishly Inclined Despite a
Decidedly Better Feeling in London
Waiting for the Clearing Away of the
European Clouds.
NEW YORK, May 19.-The stock market to-
day gave promise of developing q reaction
| from the depression of the last few DAYS, but,
Notwithstanding the moro hopeful anC
favorable advices from abroad, the continu-
| alton of the gold shipments caused re-
newal of the pressure to sell for both sides
of the account, and the improvement scored
early in the day could not be maintained.
There was q decidedly better feeling in Lon
| don, and prices for Americans there were up
as much as " in some cases, while all for
eign securities were reported better, even
Portuguese.
The boom here, however, was not less
bearishly inclined and supplied all bids from
the foreigners and the bulls, with the ulti-
mate result when the gold shipments for
to-morrow's steamers were seen to be up to
the expectations, of depressing further the
prices of all the active shares. The bulls
point still to the special ease in money,
though this is partly accounted for by the
disinclination of tenders to make time loans,
preferring to place their surplus on call
where it can be quickly called in case of
nothing at present, and in the opinion of the
best informed people are not likely to do
anything until the European situation is
more clear, which, according to advices,
cannot be before the end of this month.
The general expectation of a better state
of affairs after that time, however, prevents
anything like general liquidation of long
holdings and the progress made in depresS-
ing prices is almost entirely the result of
the efforts of the active bears in the market.
The opening advances to-day reached as
high as "a per cent, but the further gains
were not made until after severe drive had
brought prices down again, wiping out all
the early opening gains, and even more in
Missouri Pacific and the Northern Pacifics
The general bullish feeling engendered blythe
buoyancy of the foreign markets and the
buying of the arbitrage brokers was suff-
cient to cause rally which before noon had
placed almost all the leading shares some
thing above the opening prices, st. Paul,
Rock Island, Chicago Gas and Union Pacific
being specially prominent for the strength
displayed, the first named gaining nearly
per cent.
The lowest prices were reached before de-
livery hour and later the covering of shorts
caused a rally which again brought prices up
from 15 to per cent St. Paul leading the
upward movement with large amounts of it
changing hands. The market finally closed
quiet but firm at the rally. The final changes
actually show some advances and the only
material loss for the day is 1 per cent in
Atchison.
transactions reached $7Ol,OOO which is
slightly more than usual of late. Prices fol-
lowed those in shares down, but no material
movement took place in the list, the final
changes showing the usual insignificant
losses. The business was rather wider dis
tributed than usual, but failed to develop
any feature of interest. Government bonds
have been dull and weak. State bonds have
been dull and steady.
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: