Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-05-23
WALL STREETS REVIVAL
A BELIEF THAT GOLD SHIPMENTS
HAVE ABOUT CEASED

Gives the Stock Market an Unexpected
Boom-In Nearly All Gases the Opening
Prices Are the Lowest and the Closing
Figures the Highest.
New YORK, May 22.-The stock market dis
played unexpected activity and strength TO-
| day, and the result of the days operations IS
toleave almost every thing materially higher
than last evening. The interview with the
eminent German banker Herr Bleichroder,
| in which he positively states that the I'M
| portation of gold into Russia had ceased,
| gave the bulls new life at the opening, wnlle
| the shorts made rush to cover, sufficiently
disclosing the nature of the trading at pres
ent, and especially of the selling in the last
| two days. Rumors of all kinds were af1oat,
however, and one that the Bank of England
had reduced its premium on American golu
was especially influential, in connection with
| the buying for arbitrage account, which was
estimated at some 1900 shares. Bankers OF
| influence were again outspoken in their
opinion that the drain of gold from these
shores is practically ended, and an active
and buoyant market was soon underway.
check was given to the upward move;
ment in the first hour by the further actual
taking of gold for export, and whilehthe
traders were fighting the rise with lSthe
vim in their power, they could do nothing
ward movement. The West then appeared
in the market as buyer, and notwithstand-
ing the adverse influences mentioned, an
other squirt was made in the early aftereoon
which carried prices up rapidly and ma
terially, the net advance at the time being
over per cent in many of the leading
shares. The improvement was specially
well distributed among the leading stocks,
and while st. Paul maintained its lead IN
the matter of activity others were equally
as prominent in the unward movement.
New life was given the 1ndustrials, and
both COrdage and Sugar rose with the rest of
the market the former again crossing 100.
The Coalers were again strong, and recov-
cred not only their losses of yesterday, but
scored a material gain as well. The after
noon rise brought everything up to higher
figures than have been attained in many
days, and, while there was the usual realiza-
tion of profits on the advance of the day in
the last hour, it made only slight impress
sion upon prices, and even this was neutral
lied before the close of business, which was
active and strong at the highest prices
reached. The first prices were in almost all
highest The advances are most i'm
portant all through the list, and the
final gains include Union Pacific, ~; Sugar
and Rock Island, 255s: Louisville and Nash
vile, ~; St Paul and Burlington, 23s: c., c.,
Lackawanna, 2 per cent; Atchison and Mis-
souri, Pacific, IL; Northern Pacific preferred
1A: Southern Pacific, TX; Northwestern, New
England and Pacific Mail, ~; Western
Union, 1Ss; Northern Pacific and Reading,
"a: Wabash preferred, M Wheeling and
the rest large fractions.
Railroad bonds were quiet, the total sales
of all issues reaching only 81 10S2, ,000 but
strong tone prevailed, while only in few
bonds were there material advances.
The following table shows the prices of active
stocks on the New York Stock Exchange yesterday.
Corrected daily for THE DISPATCH by WHITNEY& &
STEPHENSON, oldest Pittsburg members of the New
York Stock Exchange, 81 Fourth avenue: