Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-07
NO DRIVES IN SHARES.
CONSEQUENTLY THE NATURAL BULL
ISH TENDENCY is SHOWN.

Shipment of Gold Has but Little Influence
Sugar and Reading Cause the Shrink
age in BusIness-omaha, Chicago Gas
and Union Pacific Up.
NEW York, May 8-The stock market to-
day was relieved from the incubus OF Sc
we're drive at any OF the leading stocks; and
while further heavy shipments of gold were
reported, they seemed to have little actual
influence upon the course of prices. The
May quotation of Sugar by the large inter-
ests which caused the per cent drop yester-
day having ceased, the smaller local opera
tors tried their hands upon it and lew OF
the railroad stocks, but with very indlner-
ent success and, the general list being lett
to take its natural course to some extent,
displayed firmer temper and an advancing
tendency was developed Before the cIose
the market sank into a more intense dull
ness than it has seen for some time. Inls
clearly demonstrates the narrowneSs OF the
speculation, as well as its professional char-
acter.
London was not a factor in any way, and
commission houses report dearth OF out
side orders either to sell or buy. The SHRINK
age in the amount of business done to-day
was almost entirely in the two leading spec
ulatives, Sugar and Reading. Whlle the
general list was, as usual, almost barren OF
feature, few points of interest were seen
and the market was saved from utter stag
nation. These movements were in every
case advances, doing much to give the nrm
appearance during the greater part OF the
day.
Omaha common, Chicago Gas and Edison
receipts, as well as the recovery in Sugar
and Cordage and the gain in Green Bay. at
tracted attention over the stagnatfon IN the
rest OF the market. The opening was quiet
and tame, but with the remains OF yester-
days depression showing in the lower quo
tations, and the further slight losses in the
early trading. The fact that the pressure
had been Withdrawn soon became apparent.
Prices improved under the demand from the
shorts, though no material progress was
made until the afternoon, when all the
stocks mentioned, in addition to MoDlie ana
Ohio, which moved up from IS to Al and
closed only small fraction lower, made
their advances.
The dealings beyond these incidents were
without special interest, and among the
active stocks fluctuations were very small, |
Reading ranging over only Is per cent during |
the entire day. The prices were well main +,
tanned in the late trading, the market clos
ing dull but firm at the improvement. Ihe |
final changes show slight gains in most
cases. but Omaha is up lss: Chicago Gas, ~,
and Union Pacific, per cent.
The total sales OF stocks to-day were l9i,426 |
shares. including: Atchison, 1S,4OO; Chicago
Gas, 10, l40: Erie, 1850; Northwestern, $500; |
Northern Pacific preferred. 5,700 New Eng |
land, 1925: Reading 10000: st. Paul, $500: st.
Paul and Omaha, 1865.
Railroad bonds were still fairly active |
with a widely distributed business and Few |
features of interest. The first temper is |
steadily maintained, however, and while |
the great majority of the list move within |
narrow limits a few make substantial
progress from day to day. Norfolk and |
Western firsts rose to 100, but the active
bonds were more sluggish and changes are |
small The trading reached S ,699 600.
The following table shows the prices of active |
stocks on the New York Stock Exchange yesterday.
Oldest PsbE Of the
New York Stock Exchange, 81 Fourth avenue.