Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-13
NEW YORK STOCKS.
An Upward Tendency, Followed by Re-
action. Causes More Excitement Than
at Any Time Since the November
Break-Sugar Causes the Fun.

action. Causes More Excitement Than
at Any Time Since the November
Break-Sugar Causes the Fun.
NEW YORK, Jan. 1.-THE stock market was
quite active to-day, and furnished more excite
ment than OF any day since the great break in
November, and, while the first tendency Of
prices was upward, there was natural re-
action toward the Close considering the ma
terial advance which the market has had since
the first of the year, which has been practically
without setback of any kind. There was a
widespread sentiment that a reaction was in
o. .er, and to-day it came, the bulls seeming
rather to favor it than to oppose it, probably
un Ter the idea that it would bring in fresh
buying and give increased breadth to the
market.
The dealings in the general list, however,
were completely overshadowed by those in
Sugar Refneries, which were given rise on the
completion of the reorganization and the pros
pectIve payment of the pei cent in cash.
There was an extremely large and excited
crowd gathered in the Stock Exchange this
morning and at the sound of the gavel a scene
of the widest excitement ensued, large orders
having been placed in the market to buy, while
the shorts fairly climbed over each other to
recoup their contracts. The stock had closed
Saturday at 70E, ard the first sale recorded
this morning was at "a, while higher quotations
were made on different sides ofsthe crowd at
the same time The demand was SO great
however, that Slk was reached before this de.
mand was satisfied, and the price then reacted
to 7S where it was maintained for the rest Of
the day.
In the general list there was the same taking
of profits, which in the afternoon forced the
list of, and while there were few specially
strong spots as Chicago Gas, Northern Pacific
Missouri Pacific and silver certificates, the
grangers were weak Atchison and Rock
Island in particular, and Lackawanua also
tailed behind the list The early gains were all
nritN ntnrf ,ulnr in On
Gas in the afternoon on the rumors OF new
bull pool in the stock, and also of the probable
declaration OF a dividend. A rise of nearly per
cent was scored, but the reaiizations afterward
wiped out the greater portion of the improve
meuL Silver certificates were moro active
than for long time and decidedly strong, the
advices from Washington giving encourage
meut to those who are hoping for wider use
of the metal.
The general list presented no special feature
whatever, but slowly sagged of during the
afternoon and the market finally closed active
| but heavy at or near the lowest prices of the
day and only slightly changed from the finals
of Saturday. The important changes are as
follows: Chicago Gas is up 35ss; Silver, lss;
Missouri Pacific and Northern Pacific each |
per cent, and Sugar. nc, while Rock Island is
| down "a, and Lackawanna and Atchison each
| per cent
Railroad bonds were less active than during
the latter portion of last week, the sales to-day
| reaching only s., 10 900, but a firm to strong
tone was shown throughout the day, no SYM
| pathy with the weakness in shares being dis.
played at any time. Almost everything traded
in scored slight advance, though the Reading
incomes were weak, because of the non-pay-
ment Of interest. The active issues were Atchi-
son incomes, with S256 600. the As. with Sl03,-
QOU; the Northern Pacific IS. with $50, ,000, and
Reading trsts with S2Q4, ,000
The marked changes were not specially numer-
Gus, however and most prominent were Boston,
Hoosac Tunnel and Western debentnres, ~ to
9715; burlington debentures 2 to l02; New York,
Lackawarna and Western frsts. ~ to l3U;
Detroit Bay CITY and Alpena firsts. 4 to 50;
Evansville and Terre Haute firsrs. 8 to lis;
Oregon Improvement firsts, 4 to 96; Peoria,
Decatur and Evansville seconds, to Is.
Government bonds have been dull and steady.
State bonds have been dull and featureless.
The following table shows the prices OF active
stocks on the New York Stock Exchange yester-
day. Corrected daily for The DIsPAICH by
WHITNEY STEPHENSON. Oldest Pittsburg mem
bers of the New York Stock Exchange, 81 Fourth
avenue: