Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-24
WALL STREET GOSSIP.
Fresh Trouble Predicted for LondOn-silyer
Stronger-Stock Market Narrow.

Fresh Trouble Predicted for LondOn-Silver
Stronger-Stock Market Narrow.
Spectators do not seem to be assured of
plain sailing. There are said to be breakers
ahead. The situation is outlined below by
John M. Oakley Co.'s correspondents, Wat
son & Gibson.
We have several times alluded to the injury
which will be inflicted on certain branches of
foreign industry by the financial embarrass-
ments of the Argentine Republic, in which
during the past year. the market for European
wares was greatly diminished and also the in
jury by the Mckinley tariff. We have heard
of no commercial troubles abroad, but it is
we'll TO bear in mind the actual condition of
many industries. We reiterate our opinion
that fresh financial troubles will break out in
tho speculative world of London, for
we do not believe. that by bridging
over Barring Brothers difficulty the
host of smaller concerns that were "tailing"
after this great house. Such immense sums
have been locked up in the Argentine Republic
and abroad, and such enormous conversions
have been made of private properties into Joint
stock companies. subscribed for on INSTALL
ments or margins, that great caution will have to
be exercised by England's financial houses to
avoid fresh complications.
The stock market to-day has been very dull,
but it has had one feature of finterest-hrmness
in Lake Shore. in an increase in it's dividend
from per cent to per cent. and an accom-
would be hard to conceive of a much better bull
card than this, for Vanderbilt stocks are in
public favor and their management is non
speculative. 1t naturally would be argued that
the directors of this corporation would not ad-
vance the dividend rate even on the confessedly
large showing of the current years traffic
if there were any doubt about the Commission
er's business. This fall does not appear to
have had the slightest effect on speculative
sentiment, and bears were unkind enough to
say that certain large interests here heavily
loaded with stocks had urged the policy of In
creased dividend to make a market to sell
bonds and stocks on, and they called attention
to the fact that Lake Shore earned only 70 per
centmor during the current year than last year,
when, too, the promise of the coming season
was far better than now. The increased divi-
dend on New York Central melted more ad-
verse criticism. for this road can hardly be
called prolific IN net profits.
Silver was bobbing about to-day, closing con-
siderably stronger than 1t opened, but the tuc-
tuation in the price of this metal exert very
unfortunate influence on business interests,
especially on those engaged on trade with the
far East and silver-using countries. 1t also
keeps wide open the relative value of gold and
silver. and we know that this question is viewed
with much apprehension abroad
The market continues very narrow. and as
we have shown. unreSponsive to bull1sh news
We have an idea that the market will go low
unless it grows more active. Santa Claus will
be requested to postpone his visit till . more
convenient season.