Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-04-21
NEW YORK STOCKS.
The Outlook for the Large Crops and the
Markets for Them-The Principal
Movement Comes From the
Western Districts,

Markets for Them-The Principal
Movement Comes From the
Western Districts.
NEW YORK, April 2o.-The opinion grows
daily that the extraordinary strength shown OF
late by the stock market in the face of the
most discouraglng circumstances has more con
| nection with the outlook for large crops and
| large markets for them during the coming sea-
| son than has been before suspected. The West
is unit in Its bullish feelings stocks and it
| Is undeniable that the principal support to the
| present movement comes from that quarter
| The stocks in which the West and particu.
larly Chicago, is interested, are the leaders and
their activity and strength give tone to the en-
.ire market.
There are two or three cliques among local
operators. however. and the backing Of Mr..
Cammaek is one of the enigmas which
the street employs its extra time liz solving,
and 1t is believed in many quarters that a most
powerful combination in addition to the West
is a revival Df both activity and strength in the
market and all the leading shares resumed
their upward march under heavy buying which
soon brought in offerings which swelled the
volume of business but were powerleSs to
check the upward tendency in prices for any
material length of time. The market during
the greater portion of the day acted more
like a genuine bull market than it has
for some time, although the same narrowness
was not visible and there was a lack of
vim in the dealings in the general list, while the
same stocks monOpOlized, as usual of late, the
great majority of the business done. The most
notable feature in the trading was the activity
and strength in Chicago Gas. The Grangers,
however, were the mainstay of the movement,
and, while there was The usual amount of busi-
ness in industries and specialtIes there was lit
tie interest In the trading outside of Grangers.
Atchison and Northern Pacific. Among the
industrials distillers and cattle feeders made a
sharp upward spurt, and in the regular list C.,
C., G. d st. l. and Lackawanna were strong by
turns. The general list, however. was quiet
and moved within narrow limits, and shows gen.
orally insignificant changes for the day.
The opening on the execution of the orders
accumulated over Sunday was very active and
materially higher, the gains over Saturdays
prices reaching per cent in some cases. This
brought out great deal of stock and the activ-
ity continued throughout the day, but the de-
mand was urgent and was sufficient to keep
prices moving upward steadily throughout the
session. Chicago Gas, Rock Island Lacka-
wanna, Union Pacific and some of the special
ties led the list at different times and all scored
marked advances.
The bullish feeling ran so high in the latter
portion of the day that no concession was to be
noted at any time, and the market finally
closed active and strong at the highest prices,
and with the buoyant tone uuimpaired giving
promise of a further advance in Oregon
Improvement fves and AtchiSon incomes, while
the general list was strong all the way out,
though the movements were. as rule, for
fractional amounts only. The Oregon Improve
menus FURNISHED Ine feature OF the uay ana
they rose from 6611 6915. but fell back to $50
at the close. Government bonds have been
dull and steady. State bonds have been ne
elected.
The Post says: The speculative public seems
to have got over the nervousness about the
export OF a few millions of gold; 1t is alleged
that finances in Europe are not in satisfac-
tory condition; chat both England and Ger
many have suffered enormous losses in Argen-
tines, and that they are now realizing i'm
portant losses on their investments. But SO far
as these losses may oblige them to sell securi-
ties that are readily marketable in order to
have ready money or gold, 1t is believed that
both England and Germany have sold back to
us about all their speculative holdings of
American securities. As for the securities
which have been bought there for investment
instead of speculation they are not likely to be
disturbed. The contravention Of investments In
the United States and those in South America
is so strongly in favor of the former that it is
more likely to divert capital from the securI.
ties of all other countries to those of the
United States.
- The following table shows prices of active
stocks OH the New York Stock Exchange yester-
day Corrected daily tor The DIsPAIcH By