Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-16
NEW YORK STOCKS.
Wall Street Concerned Over the Meeting of
the Railroad Presidents, the General
Impression Being That a Favorable
Result Would be Arrived At.


Impression Being That a Favorable
Result Would be Arrived At.
NEW YORK, Dec. lathe great concern In
Wall street was the conference of railroad
Presidents. The impression prevails that a
favorable result will be arrived at. Confidence
is gradually returning and money lenders are
more inclined to do business. The reappear-
ance of time money places brokers in position
where they can recommend.buying on margin,
and commission houses are therefore
ready now to buy stocks for their
customers. The market to-day was a
dull and sluggish one, the general
disposition being to await the outcome of the
Presidents meeting before doing anything in
the market, and narrowness also marked the
dealings from the same cause. The demand was
very light, the shorts having covered to a large
extent during the final days Of last week, and
that support to the market was lacking, while
ing The London figures. however. were
materially higher, and our market opened
from Is to per cent better, in sympathy with
1t, but the lack of demand after the first buying
movement had been satisfied, which raised
prices from Il to z per cent over the opening
and there was Saggins movement which lasted
throughout the greater portion of the day,
wiping out most of the advances over Sat
urday's final figures.
There we're few specially strong spots, how
| ever among which Missouri Pacific, Wheel
I Il
| were prominent. The great feature of the
| day was the sharp advance in silver certificates
| from los to ITO on the prospect that there will
be purchased the Sl3 00u 900 silver in the coun-
/ try together with the possible utilization of
| the fractional silver, besides the prospect of
! other legislation which is considered favorable
| by the silver men. The advance was not all
| held, but it closed at near the top Another
sharp advance was made by La Clede gas
| which was started by the decision of the Su-
! preme Court of Missouri in favor of the COM
! pauy, which allows it to charge 81 % Der / 900
| instead of so cents fixed by the city council
last year 1t touched l73z, against II last Satur-
| day and closed at l13s.
The market dwinuled away to the smallest
| proportions in the afternoon but a little buy
| ing in the last few minutes closed it with
| for most stocks. The final changes are almost
all advances, though generally for insignificant
| fractions. but beside the advances in La Clede
! Gas and silver certificates Wheeling and Lake
preferred is up ~. Pacific Mali IL Northern
Pacific preferred ~ Missouri Pacific IL and
Canada Southern l per cent. Railroad bonds
showed the usual moderate business which
reached s.. .255 700 for the day, and while a
rather heavy tone prevailed in the early trad
ing stronger tone was developed in the after
noon, resulting in marked advances in many of
the more active issues. Mobile and Ohio As
rose 2% to 6; Northern Pacific and Montana
firsrs ~, to l023; San Francisco 6s 2. to los;
Iron Mountain IS 21a, to 9l1s. and Wabash de-
beutures class b, . TO 81,
Government bonds have been dull and steady.
State bonds have been quiet and featureless.
The following table shows the prices or active
stocks on the New York stock Exchange yester-
day. Corrected daily for TIE DISPATCH by
bers of New York Stock Exchange, 81 Fourth
| avenue: