Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-07-04

failed to have any depressing influence on
the market, as the manipulation was TO-DAY
the 0ther way. A bear attack from BOSTON
on New England knocked the stock on over
per cent, in the face of the strength OF the
rest OF the list, but the final loss was lnslg-
n1hcant. The foreign houses were without
orders; but Louisville whose fluctuations it
has been fashionable to attribute to foreign
influence, was specially strong, while st.
raul Kept pace with it.
ing the Western National Bank from paying
the dividend checks of the American sugar
kehning Company did actually help that
stock up. The strength displayed may with
truth be ascribed in part to the announce
ment that the ~ per cents would be ex-
tended, which was made public late last
night, but certainly more to the desire OF
the trading element to even up its contracts
over the holiday.
The opening was made at slightly higher
ngures than the finals of last evening. which which
was followed by further small fractional
gains In the entire list during the early traa-
the drop in New England. The upward
single setback throughout the day, ana
the Changers, Missouri Pacific, Sugar ana
spec1alties were prominent for the advances
made toward the close of business. Tne
trading, however, was marked by no special
feature of interest, and the market nnally
closed dull but firm to strong at the best
nn aSd Of the use aa F anal
amount; Southern Pacific, IA: Wheeling and
Lake Erie and Missouri Pacific, each ~, ana
ROCK Island, Pacific Mail and wabash pre-
ferred, each per cent.
Railroad bonds displayed the usual dull
ness, and the tone of the trading was gen,
orally steady; but the advance in stocks had
its effect toward the close. and some mate
nal advances were scored among tine IN IN
active issues. Richmond firsts rose 8, to 6s,
and Fulton Elevated frsts2, to g.
Reasons for Higher Prices.
John NJ Oakley Co. received the follow
ing by special wire: "Iondon prices came in
higher this morning. and this with the action
of the Cabinet yesterday upon the matter OF
the extension of the ~ per cent bonds
caused a better feeling at the opening of our
market, and during the first hour prices re-
corded a general fractional advance.
'The earnings of the St. Paul road for the
fourth week of June made splendid show
ing, as by comparison they show an increase
of $92, ,946, and for the month of June $l97, 73S
gross.
Contrary to expectation Sugar Trust GER
tificates instead of being weak on the late
complication connected with the payment
of dividend was one of the strongest shares
on the list to-day, and subsequently 1t was
announced that Judge Barnard had vacated
the order restraining the Western National
Bank from paying the Sugar dividends.
Chicago Gas with a preponderance of
bullish points in circulation was one of the
weakest stocks on the list, selling down to
1891. This stock is SO merrily and merc1-
lessly manipulated that the avarage specu-
lator is a loser on either side, but If the
statement made regarding this corporation
and the present situation of its affairs can
be verified it should be one of the strongest
stocks on the list and desirable as profit
able investment.
"The weeks business was an unsatisfac-
tory one from speculative standpoint, the
market moving within very small range,
but with the gold shipments out of the way
and a few other roads to show such a hand
some increase in their earnings as the st.
Paul reports have done, better feeling and
higher prices should rule. With the fall
wheat harvested the Southwestern roads
should be the first, and that very soon, to
record decided improvement in earnings,
and in these increases are bound to tell on
stock values.
"The market closed to-day with quite
satisfactory gain from the prevailing prices
of last Saturday"
+ 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 Pittsburg members of
the New York Stock Exchange 81 Fourth avenue: