Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-08
OMAHA COMMON LEADS.
IT REACHES THE HIGHEST PRICE FOR
MANY MONTHS.

| Sugar Not Far Behind In Activity and
| Strength - Reading Lacks Life, and
| Lackawanna Is Raided Down - The
Bank Statement Unfavorable - Bonds
| Firm.
NEW YORK, May THE stock market to-
day was quiet and in the main strong, but
| it was as narrow as at any time during the
week, presenting few features of interest
! and the general list showing only slight
| fluctuations. The great feature of the day
| was the extraordinary animation in Omaha
| common, which rose to first place in the
| dealings, while reaching higher prices than
in many months. The stock rose from 50%
last night to 52s5, but portion of this was
lost, while the preferred stock was stub
bornly held at the highest point.
Reading was active, as usual, but dis
played no vitality and was traded in within
narrow limits with the rest OF the market
The Industrials were the most prominent
feature after Omaha, and a substantial rally
in Sugar, owing prin cipally to tho covering
of shorts, was helped by rise in Chicago
G as, which carried its price above 80 on the
expectation Of increased dividends in the
future.
A bear drive was made at Lackawanna,
which was supposed to be to shake out
enough stock to enable the operators inter-
ested to cover their shorts, which seems at
pres ent to he the object of most of the raids
Prices yield readily to these attacks, owing
TO the lack OF speculative interest in the
market; but stocks are so tightly held that
the buying to coverimmediatelv sends them
ba elk again, and little is gained.
The issue Of the bank statement which
was an unfavorable exhibit. had some In
fluence in creating some reaction in the late
dealings. and many of the list were carried
down below the opening figures The mar.
w
most stocks within the smallest fractions of
last nights figures. Sugar, however, was up
lsss and Omaha ~ while the losses were in
Tine total sales of stocks to-day were 13l ,65s
shares, including Atchfson, 5,0l0; Chicago
Gas, Is, a36; Delaware, Lackawana and West
2.1O7; New England, 2,400: Reading, 5000: ST.
Paul. 1000; st. Paul and Omaha, q, 100; Union
Pacific, 2,l00.
The dealings in railroad bonds were signal.
lied by the return to activity of the old
favorites, Erie second consols and those
bonds lead the dealings. contributing sl03, 600
market was still very firm,and a few marked
advances were made among the inactive
issues.
The Bulls on Deck.
John NJ Oakley & Co., furnish the follow
ing budget from their Wall street corre-
spondents:
"The stock market started out strong and
-
when the bank statement came out with its
surprising loss of $5.CoO,O0O in reserves, but
the bulls soon rallied round the flag. Lacka-
wanna was attacked and broke in conse-
quence, but this did not dampen bull ardor,
and the continued rise in Omaha and Chi
cago Gas exercised a good influence on
prices and sentiment The market is very
narrow, and one dav of strength succeeds II
day of weakness, good news puts prices
down and bad news puts them up Traders
are much mixed up in their opinions.
Next week the Western Traffic Associa-
tion will hold their meeting in this city, and
their deliberations will cover the question
of cut-rates. Western opinion is that moth
ing effective will be done. Jay Gonld will
not be there. 1t is far easier to construct
bull arguments than bear arguments, but
things that are less logical are often in Wall
street the most sensible"
The Finish In Stocks.
The following table shows the prices Of active
stocks on the New York Stock ExchRn &c yesterday.
Corrected daily for THE DISPATCH By WHrTNRr& .