Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-23
NEW YORK STOCKS.
There is a Much More Settled Feeling in
Financial Circles, and Brokers Are Not
Looking for Increased Business Until
After the First of the Year.

Alter the First OF the Year.
NEW YORK Dec. 22-The stock market to-
day retained its purely holiday character and
business dragged slowly along with little
feature There is now a much more settled
feeling in financial circles The supply of time
money is increasing, though Wall street brokers
are not looking for an increase in business
until after the lst of January, but after
that time large investments are expected
both IN bonds and stocks. and there is
confident feeling that London will in all
probability be ready TO again take hold of
American securities. The market, outside of a
few shares was entirely devoid of feature to-
day, but as usual in the dulness, the profess
sional and trading elements bearlshly in
clined. and the selling for the short account by
those operators furnished the bulk of the bust
ness and caused a downward tendency, which
had the effect of leaving most stocks fractionally
lower than on Saturday. The Nanderbilts we're
the strong points in the list many rumors
in regard to the statemenE of the Lake
Shore and the probability of an increased
extra dividend stiffened up not only
that stock but the other Vanderbilts
as well. On the other hand, silver certificates
were still lower. e-ting the disbelief that the
silver legislation will be passed. Sugar certIfi-
Gates were strong in the early dealings on the
covering of a moderate short line, but sagged
away later in the day, losing most of the gain.
Reading became the strong feature toward the
close, and advanced fracuonally. but enough to
leave it materially higher than Saturday on the
news of its requirement of extensive terminals
lp Philadelphia. There was consider
able weakness in the grangers during
the day, St. Paul and Atchison being
specially conspicuous at times but in none
there serious decline. The market for the
general list dragged along and finally it closed
dull and steady at fractional concessions from
the opening figures which were slightly lower
than those of Saturday. The only final changes
OF note were the advance of l7ac in Reading
and the decline of $3.50 in Pacific Mail, which
was adversely affected by poor prospect of the
shipping bills AT present. Railroad bonds were
dull and presented as little feature as stocks
while no pronounced tone could be detected in
the dealings. The business reached only $685.
600, and the final changes while irregular. are
in few cases of Importance. Brooklyn elevat ed
seconds however, lost at s.. while st. Paul
eightS rose to l02; Northwestern cnnsols AZ
to 1897, and Navigation tirsts, ~ to lCS1S.
Government bonds have been dull and
steady. State bonds have been dull and steady
Petroleum, January option advanced 30 in the
early hours on some buying from the West.
The opening was steady and after the squirt
the price reacted u and the market closed
dull. Pennsy wanna oil, spot, opening Csc;
highest, csc, lowest IS; closing 69ll; Janu-
ary option onened Csc; highest. 7O13c; lowest,
sales, $1,000 barrels. The post says:
The supply of cotton bills in the
exchange market has been increasing
for week past and they sold at 81 7S15 today
AS IN accordance with other years, there are
over 1000, coo bales of cotton to be exported vet
which will make over 500, ,000, 600 of exchange
between now anu next summer, and as the cot
ton exports were retarded by the financial
difficulties both here and in London in Novem-
Der, 1t is 10 be expected that 1t will go forward
more freely from now on, and create an in
creasing supply of exchange. A decline of IL
cents on the pound from present prices for cot
ton bills will make it profitable to buy
them 10 cover the imports of more gold and it
Is not Improbable that they will be down to
that price before many days. The sum of $780,
600 of gold came in on two steamers this morn-
ing. There is no such special emergency re-
QuiTIng the Importation of more Just now as
there was a week ago. apd if more comes 1t
Will be in the payment for cotton. IT. in aCdi-
uon to this, London becomes q buyer of stocks
the imports of gold will be very large
The following table SHOWS the prices or active
stocks on the New York stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNEY & STEPHENSON, oldest Pittsburg mem
bers of New York stock Exchange, 81 Fourth
avenue: