Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-20
NEW YORK STOCKS.
The Market Dull, the Disposition Being to
Await the Result of Legislation at
Washinston-The Kansas City Bank
Failure Has a Stronp Effact

Await the Result of Legislation at
Washinston-The Kansas City Bank
Failure Has Strong Effect.
NEW YORK. Jan. 19.-The stock market to-
day has been narrow, and during the greater
portion of the time and for the great majority
of stocks dull, the disposition evidently being
to await the outcome of the financial legisla.
tion at Washington. This. of itself has been
sufficient to interrupt the upward movement OF
the first two weeks of the year, and other
minor matters seem to work at present in har.
mouy with this cause. To-day there was
heavy bank failure in the West
which Immediately checked the upward
movement in progress at the time showing con.
clusively the sensitive temper of the market at
present One of the most influential events TO-
day was the exposure of the forged agreement
put in circulation to prove that the New Haven
Railroad had made terms for the control of the
New England, and which was supposed to have
been the foundation for the late material rise
in the latter stock. The bull movement in it
was not only stopped short, but drop of 81
per cent was made in it from The final
price OF Saturday The supporters of
the bull movement came to the aid
oil the stock but only portion of the loss was
regalned even at the best figures of the day
and a:material decline is shown by the
final price. The industrials were quite a feat
ure during the day, and while Lacleue Gas and
Chicago Gas were specially strong sugar be-
gins to show evidence of the selling of long
stock and was weak throughout. Outside of
the stocks mentioned there was little animation
excenS IN the Wizards, which were firm, and
st Paul which was inclined to weakness
ihe opening was irregular and slight
losses were scored in the first few
many Of the leaders up about ] per cent
and New England early 3. The bank failure
however, checked the buying and slow set
tnng away marked the transactions during
most of the remainder of the day, though there
was 1eeole rally in the last hour. The close
however, was rather heavy and generally at
small fractional declines from Saturdays fig
ures. Inc only n,arl ell changes were a rise of
lls in Chicago Gas and losses of 33S in New
England az" ~ m Sugar
Railroad bonus were quiet and sympathized
closely with the temper of the share list
throughout the day there being considerable
strength in portions of the list but weakness in
others and nnal changes, while generally de-
sales reached Sl,3lS co., of which Northern Pa.
cine 5s furnished $4,000 and Texas Pacific sec.
onds Sl46.000; Minneapolis and St. LOUIS, Iowa
Government bonds have been duh and
steady.
State bonds have been dull and featureless.
Ihe only trading to-day in petroleum was in
February option, PENNSYLVANIA oil. These con-
tracts opened steady at 73s<c. fell off to 73c.
then rallied lie on Western buying and closed
steady. Pennsylvania oil, spot sales none
feOruary option, opening. 1870; highest. 74c;
lowest, ,5c: closing, 733zc. Lima oil, no sales
Total sales. IS ,0J0 barrels
The Post says: So far as the rumors of fnan.
ciai troubles IN London are concerned, there is
absolutely nothing on the surface to indicate
anything OF the kind. The rates of discounts
In LONDON. the rates of exchange here and the
operations OF London speculators in American
stocks to-day furnish nothing on which TO base
a suspicion.
A great deal has been said about the pros
pectlSe decrease in tonnage for the railroads
west 20 OF ., Chicago iE consequence of the short
age Oh the corn CROP December is usually one
OF the heaylest months for receipts of corn at
Cnicago; In december, 1883, the receipts of
total receipts OF corn for the whole of that year.
In December, 1853. the receipts were 1885. 700
Dusneis Dnt IN IN December. 1890 they
were only 2954,2S4 bushels SO that il may
be assumed that the December earnings of
the railroads would fully reflect the decrease
tnat might oe expected for the rest or the
year as the result of the short corn crop. The
Burlington is the largest corn carrier of the
Western railroads, and as yet We have no re-
port OF its December earnings to see what the