Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-05-20
NOT A TINE FOR VENTURES.
WESTERN FLOODS HAVING A BAD
EFFECT ON STOCKS.
Undoubted Selling for the Long Account
Gould Not a Bear-AtchsOn Raided-
The Passing of the Dividend Hurts

Undoubted Selling for tho Long Account
Gould Not a Bear-Atchison Raided-
The Passing of the Dividend Hurts
Northern Paciffc-Bonds Quiet.
NEW YORK, May ls-The stock market was
again practically in the hands of the bears,
and, though stubborn resistance to the
pressure was seen in some stocks the special
points of attack yielded rather readily, and
losses approximated 2 per cent in some
cases. There was undoubtedly some selling
for the long account, small holders becom-
ing discouraged by the failure of the market
to rise, while the floods and disasters in the
West are having some influence to deter
buying; and in view of the waiting attitude
of the more influential Spectators, many
regard the present as not favorable time
to enter into new ventures.
There was special pressure brought
against Atchison this morning because of
the proposed issue of bonds, and while Incl
dentally the Changers were paid particular
attention none of them suffered as much so
as the Erie stocks, which yielded readily on
comparatively light transactions. The at
tempt to prove the Gould following in favor
of a lower range of values ceased, and Man.
haitian rose rapidly per cent. The Wizards.
also, seem to have had their day as bear
cards, and all were well held. and in the
able strength, without scoring an advance
of note.
The Iow-priced stocks were quite neg
lected, ana in no case furnished any feature
of any kind. In. tho afternoon the whole
list subsidized into the same condition, the
pressure to sell being removed and no buy
ing movement being stimulated by the de-
clines.
The opening gave promise of a firm tenn
per to the dealings; but there was a lack of
buying orders, and the bears soon pressed
their advantage to the utmost. The decline
extended until well into the afternoon, when
it was resumed on the renewal OF the
pressure upon Northern Pacific preferred,
whose decline again carried the list down
ward. The announcement of the passing of
the dividend was the signal for tho later
demonstration, and Northern Pacific pre-
ferred was carried down to 535s, while other
stocks lost only small fractions further as q
rule
The covering of shorts failed to rally the
list to any marked extent, the close being
est of the day. The losses are generally for
fractional amounts. The transactions
reached $50, ,S6s listed and 5,44s unlisted.
The total sales OF stocks to-day were 1885,
s5S shales Including: AtchisoI, 1850; chi,
cago Gas, 1l.5O0 Delaware, Lackawanna and
Western, $500: Erie, 2O.455 Hooking Valley
lie Missouri Pacific, y, LIS: Northwestern
4675; Northern Pacific, 460; Northern Pacific
preferred, 66 .334; Reading, 23,700; st. Paul,
81. 400: Union Pacific, Is 460.
Railroad bonds were more quiet to-day,
with the exception of Atchison incomes,
which were again heavily pressed for SALE
The rest of the list were only moderately
traded in, and the close was barely steady.
The following table shows the prices of active
stocks on the New York KS, stock Exchange yester-
NEY STEPHENSON. Oldest Pittsburg members Of
the New York Stock Exchange, 81 Fourth avenue.