Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-03
NEW YORK STOCKS.
A Good Opening for the New Year in Both
Share and Bond Markets-Prices
Reach Higher Figures Than
for MANY Days.


Reach Higher Figures Than
for Many Days.
NEW YORK, Jan. 2-The year 1891 opened
auspiciously in Wall street to-day and the
strength and activity displayed were unusual
for the day after New Years Day, especially
as It comes at the end of the week and on
Friday, when the monetary conditions are not
generally favorable to advances. Money is
easy, stocks are scarce and there Is large
amount of money seeking investment which
under firm condition of affairs in Vail street
would naturally find It's way there. To-day
gave evidence that such movement has al
ready begun. and the dealings. on the whole.
had less of the professional appearance than
they have for long time.
The traders and bears were not inclined to
believe that the rise OF Wednesday would con.
tinue over the holiday, and. therefore. there
was considerable pressure brought against the
list in the early dealings for turn. at least on
the short side. There was, however, strong
and, in some cases,:urgent demand for some
stocks, and the pressure which succeeded in
opening the market off from Il to * per cent
and establishing further concessions in the
early dealings waswithdrawn, and the demand
for the short account There was undoubtedly
considerable buying by insiders, especially In
the Southern stocks.
The coal stocks, however, were the leaders Of
the upward movement In the morning, Lacka.
wanna in particular being helped by the
rumors of its requirements of the SusQue-
hanna and Western, which latter also scored
material advance. Later in the day. however,
when the bears had been finally routed, the
improvement spread all along the line and
several Of the low-priced showed material
gains on light trading.
There we're realiZations as the afternoon
wore along. but no marked impression was
made upon the prices which were the highest
seen in many days. The close was quiet but
firm to strong at or about the best prices of the
day. The list is almost invariably higher to-
night, and among the more important gains
are Wheeling and Lake Erie. 25s; Tennessee
natl, Chicago and st. Louis. II; Lake Shore,
Union each ~; North American and Chicago
Gas, each per cent.
Railroad bonds are more active and stronger
than usual of late. and the total days business
reached S. .S2S, 000 out of which Northern Pa
cifc s. furnished SIS, ,00O and AtchIson incomes
S234 00O. AS in stocks the strength was well
distributed over the lis. and while the gains are
in few cases for large amounts almost
everything is higher than last evening. Bur-
lington Nebraska 4s rose to 49, Morris and
Essex rs of 1871. 81 to 1245z.
The Post says: .'The higher rates for ex-
change to-day were due mainly to demands for
remittances of interest and dividends While
we have no official authority for the announce
ment we have reason for believing that the
next dividend OF the Louisville and Nashville
will be paid in cash.
The following table SHOWS the prices or active
stocks on the New York Stock Exchange yester-
day. Corrected daily for THE DISPATCH by
WHITNRY & STEPHENSON, oldest Pittsburg menu
bers OF New York stock Exchange, 81 Fourth
avenue;