Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-01-22
STILL ADVANCING,
Railroad shnres COntinue Their Upward
MOvement-Ensy Money at Homo
and A~brSad-The Trusts Again

NEW YORK. January 2L-The upward move
ment in the stock market inaugurated yester-
day made further progress to-day, while the
market itself perceptibly broadened, and the
recent persistent pressure by the bears upon
the list was conspicuous by its absence. The
disposition of the latter was evidently to cover
their outstanding contracts, and rumors of a
coming resistance to future bear pressure
was in all probability an inducement to take
that course. One of the chief elements of
strength in the market to-day, however, was
the growing ease in money both here and in
London, time money being offered freely at 5
pei cent, while call loans were made as low as 8
per cent to-day.
The drives at values to-day were short and
sharp, but the subjects were well chosen, and
the covering was quickly done. In the general
list Missouri Pacific was again the leader of
the dealers, and while no marked movement
was made in the stock the rise of Yesterday
was fully maintained and slightly improved
upon. Western Union was attacked in the
forenoon, but Vailed quickly and finished with
a small advance. The strength in these stocks
of late is regarded as an indication BY the
friends of the management that the Gould
properties will in the future be of assistance
toward a better market. Reading was again
active, and the Sully party were reported az
buyers all DAY long, Wnlle assuring their friends
of the desire to smash voting trust. The stock
was advanced fractionally. but fuctuated over
a comparatively narrow range, as was the case
with all the leading shares.
The wide fluctuations were as usual made in
the Trusts and specialties. and Sugar Refneries
in the afternoon for no apparent reason was
bid up rapidly, touching 55%, though ii fell
away later to 54H and closed at 54L. Among
the specialties Louisville, New ALBANY and
Chicago was the most prominent for its rapid
rise under light dealings from 40 to A against
3S5s for its last sale. 1t closed at AZ. Chicago,
st. Louis and Pittsburg common and Hooking
Valley were also specially strong. The begin
ming of dividends is the direct result of the i'm
proved business done by all the established
roads in Ohio.
The general list displayed a firm tone through
out the day and improved fractionally under
small transactions all day long. The close was
dull but firm, but generally at or near the best
figures. The great majority of the list is
higher tonight, though confined to fractions
as a rule.
The railroad bond market was active to-day.
but it displayed no pronounced tone, the ma
jority of the list being quiet and steady, whilea
few issues showed marked strength and others
were equally as weak. The total transactions
were 81, $4,000, of which the Chesapeake. and
Ohio fVes furnished $2O7, 900, and, while the
Western fves and some others were prominent
in the dealings, they failed to reach an impor-
tant total. st. Louis, Alton and Terre Haute
dividends rose 3 to 81, Burlington, Cedar Rapids
and Northern consols lost 5 at gu.
The foIIowlng table SHOWS the pr1ces Of active
stocks on the New York Stock ExcnanRe yester-
day. Corrected daily for THE DIsPHTcH by
berS Of New YORK Stock Excnange. 81 rourth ave
nue.:
Open High Low. ing
Am. Cotton on Trust. a11