Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-19
A SLIGHT IMPROVEMENT.
SHARE DEALINGS SHOwAN OUTSTAND
ING SHORT INTEREST.
Weakness in Richmond and West Point
Holds Back the Market-The Increased
Dividend of Burlington Fails to Advance
That qfock-SIipht Gains


Holds Back the Market-The Increased
Dividend of Burlington Fails to Advance
That stock-slight Gains.
NEW YORK, Nov. ls.-The stock market
to-day was somewhat more active than that
of yesterday and displayed decidedly more
strength, especially in the forenoon, but the
gains were generally lost owing to the weak
ness in the Richmond and West Point secu-
rites aud the consequent checking of the
buying power, though no losses for more
than small fractions we're seen outside of
Richmond and West Point shares.
The market shows evidence of very large
short interest, both here and in London, and
while the spectators are operating for de-
cline in the main, operators who pay for
their Stocks rs well as the more prominent
of the street operators, are known to be
buying at every material reduction. The
peculiar conditions which now control spec
ulations, however, are seen in the fact that
the dividend on Burlington, which was in
creased, failed to move the price OF the STOCK
up much after the reduction had depressed
it some 10 per cent and the expectation Of
the passing of the dividend on the Richmond
and West Point pref today dropped the
The upward movement, however, while
not 50 sudden, is more steady, and the gen
eral market to-day acted more like bull
market than it has for some time, and many
stocks reached figures which they have not
seen in long time. Burlington touched
mar, and Northern Pacific preferred, 20. The
London figures this morning we're all lower,
and the traders sold the list at the opening
on the strength OF the aspect of the foreign
markets; but while the foreigners were
small sellers at the opening they soon turned
buyers, and beyond these purchases there
was buying power which advanced the
Gran.e ers CoGlers and Vanderbilts, materi-
aliy helping along the rest of the list.
The gains extended in these shares to 26
per cent, and only the Richmond and West
Point stocks were sluggish, and when the
announcement was made that a failure to
secure a quorum had been made, the infer
ence that the dividend would be passed pre-
cipitated an attack upon all securities of the
road and the common stock retired from Il
to lO5s and the preferred from 5413 to 4s1144,
though the latter afterward recovered to
81.
Outside of the dealings in these securities
there were no special features to the trad
ing, and while the sudden and material de-
cline in them caused Il settling back of. the
regular list, a few marked advances were
scored, and the market, as whole, closed
quiet but firm at something better than last
niyht's figures. The loss in Richmond and
West Point common was only u per cent,
but the preferred is down per cent, while
Sugar is up N and Delaware and Hudson
Railroad bonds were like stocks-active
and strong in the forenoon, but reacted
later in the day: but while the advances
were generally insignificant, few issues
show material gains after all. The highest
and closing quotations were: