Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-14
NEW YORK STOCKS.
Money Accommodating at All Centers-SuSar
Refineries' Artificial Advance-Good
Effect of Railroad Harmony
Shares Close With a Boom.

NEW YORK, Jan. 13.-The stock market to-
day was active and strong during most of the
day, though there was some hesitation in the
early dealings, which soon disappeared and
there was q most decided advance toward the
close. The traders were generally inclined to
push the reaction of yesterday to larger pro-
portions, but there was a marked absence of
selling of long stocks, and receiving no help
from the insiders they soon deslsted from their
efforts, and joined the rest of the operators in
aiding the advance
Money seems now to be sccumulating at all
the prominent centers, both here and abroad,
and, notwithstanding the broadening out of the
speculation here, the supply of funds does not
seem to be diminished IN any way. The offer
lnrS became less as the day wore along, and the
upward movement was accelerated, being most
pronounced at the close.
Sugar Refnerles was again feature OF the
day, both for its activity and its strength, but
the movement Is generally looked upon as
clique manipulation, and it excites little inter-
est outside of the clique who are managing It.
Its advance to-day was not on so large a scale
as that of yesterday but it was very large as
compared with ordinary movements,
In the regular list the sudden development of
activity and decided strength in the low priced
Vanderblts, was one of the most striking fea-
lures of the day, and when the rise had fairly
begun toward noon, Cincinnati. Cleveland and
Columbus and st. Louis and Canada Southern
were placed in the front rank. while the other
Vanderbilts were comparatively quiet and
sluggish. The Wizards occupied the position
of leaders in activity still, and all scored mate
rial gains in the afternoon.
The recent progress III the establishment OF
harmony in the railroad world begins to show
its legitimate effects, and to-day the Grangers
were all prominent IN the dealings, while keep
ing pace with the rest of the market i'll the ad-
vances established. ST. Paul, Union Pacific and
Rock Hand we're all very strong, and there
was Gould buying in Union Pacific, which was
not without Its influence upon the remainder of
tbc
improved financial conditions over the entire
world and the bright outlook for the railroads.
The market closed with little boom at the
best prices of the day. The final changes are
al advances, and Sugar is up 31s; Rock Island,
2h; C., C., Z. and st. L.. 23s: Lackawanna and
Union Pacific each ~: Burlington, ~; st,
each I3s; Northern Pacific preferred. ",
Northw estern, Louisville and Nashville North;
ern Pacific and Richmond and West Point
each "a: Chicago Gas and North American,
each rs: Atchison, Tennessee Coal and Wheel,
ing and Lake Erie preferred, each per cent
and others fractional amounts.
Railroad bonds continue active. but the vol
Vme OF business was rather less than few
days ago. while the strong tone to the dealings
Is less pronounced. To-day the total transac-
tions were s., ,S94. 900, and few material de-
clines are To be nuticed as the result of the
trading. The great majority of the lisr. how.
ever. are higher. though the importan. changes
are comparatively few. The Atchison incomes
were not So active to-day, and the leading act
i've issues we're Northern Pacific 5s. with S267.
600: Reading tirsts with s246 900, and the Texas
Pacific seconds with Sll8.0U0. Among the ad-
vances may be noted New Albany and Chicago
consols to 81; New York and Northern sec
onds ~ To Az.
The Post says: A good many spectators, and
also many commission houses. were disposed TO
look for q further downward reaction. The
general opinion however, seemed to be that it
would he only a reaction" and not a con-
tinued decline. In fact, there is nothing in the
situation, either in this country or in Europe,
to warrant any expectation of a recurrence to
anything near the prices of November and
December. Those prices were the effect of ex-
traordinary causes and a panic, and could
scarcely occur again. On the contrary, there
are goVd reasons for expecting a further ad-
vance. London did little selling this morn
ing, and the bears here immediately proceeded
to pat out new lines of shorts, but their selling
had little effect on the market.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for The DISPATCH by
WHITNEY & STEPHENSON. Oldest Pittsburg mem
bers OF the New York Stock Exchange, 81 Fourth
avenue:
Clos
Open High Low ing