Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-21
NEW YORK STOCKS.
A Favorable Bank Statement Has q Good
Effect on Dull Share Market-Gold
Importations Will Boom the

Importations VIII Boom the
Next Statement
NEW YORK, Dec. 20-The stock market to-
day was intensely dull and heavy throughout
the session. Before the close, however, there
was more strength displayed, especially after
the publication of the bank statement, which
was the best one made for a long time. The
gold received on Wednesday counted for only
three days in the averages, but. nevertheless.
the surplus reserve shows an increase Of S3 S9l,
600 and is left at over 100 000 There was also
an increase in the specie held of s. 1886 700, and,
as the statement was made upon rising averages,
the actual condition of the banks is in all proba-
bility, much better than was shown by the
statement
In addition, nearly ssOOO,OOO more of gold
arrived this morning, and will be factor in
next weeks statement. The statement, how
ever, undoubtedly reflects return Of portion
of the locked-up money, and for additional evil
dence upon this may be mentioned the ease in
the money market of late, together with the
fact that SO many time loans have been made
during the past week that nearly every house
having suitable securities has been able to
secure all the time money wanted, and to-day
many brokers called upon tirst-class houses
and offered six months money at per cent.
Many of the institutions which have been en-
gagged in locking up their funds are now trying
to make long loans before the January dis
estimated at about sl2O. 1000. Some of this
money must find its way into Wall street in
the purchase Of bonds and. dividend-payi
stocks.
The market to-day was almost entirely pro-
fessional. and the movements in the great ma
jority of the list were without significance.
The weakness i'll the early trading resulted in
fractional losses in many stocks, among which
Lackawanna was most prominent, but at the
same time Sugar was especially strong, and the
only downward movement of importance was
In Silver Certificates. which fell away ~ per
cent from last evenings figure.
After the publication of the statement how.
ever, the reaction which had begun before
made marked advances in all except few un-
important instances. The early losses were not
only regaIned, but something in addition.
cent, and the entire list was left at small frac-
tions better than last evening. Sugar. how
ever, shows gain of l4 per cent.
Railroad bonds were equally as dull as
stocks, the sales reaching only S363, 900, while
the fluctuations were upon the same limited
scale. San Francisco, Glass G, lost at los, and
Toledo, st. Louis and Kansas City firsts at IS.
The Post says: The bank statement was
quite as favorable as was expected by anybody.
In fact, more favorable than expected by many,
in view of the fact that exchange in Chicago
all the week has been heavily against New
York. and also that the largest half of the gold
imports only arrived this morning, too late to
be all embraced even in the bank averages for
the week. The increase of S4l36,700 in the
specie shows that specie-presumably gold or
gold certifcates-has come from somewhere
else than from Europe to swell the bank re.
serve.
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: