Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-19
GOOD OLD TIMES AGAIN,
STOCKS ARE NOT ONLY STRONG, BUT
SOME ARE BOOMING.

Bonds Make Even a Better Comparative
Showing-Ihe Usually Inactive Shares
the Most Animated Now-Erie, Cotton
Oil and Sugar Among the Leaders.
New YORK, Dec. 1s-The strength of the
stock market was again clearly demon
strated by the heavy realizations which
took place but which were absorbed without
effort, and higher prices all around are the
result The market also broadened out
materially, and the most active day since
the present rise began, both in stocks and
bonds, was seen. The important move
ments, however, were few and confined to
the inactive shares, as q rule, while among
the stocks which now lead in activity prices
were not widely changed, and such stocks
as Erie, st. Paul and others of a like nature
were traded in over a range of less than
per cent.
Erie again led the list in activity, and
Atchison also displayed an increasing bust
ness at slowly advancing prices. The out
side centers were again well represented in
the purchases, and Chicago, Boston and
Philadelphia, rs well as the arbitrage con.
tingent, were heavy purchasers throughout
the day.
There were many signs of nervousness on
the part of the short interest in the Coal
stocks, and while the rising tendency in
those stocks were stubDornly resisted
rumors and assertions of trouble among the
companies in the near future were freely
circulated, but without apparent effect, ex-
cept in Jersey Central which, however, has
of late been very feverish and sensitive to
every breath that blows. The Western
operators took the Changers in large lots,
while the realizations prevented any
material movement in any Of them The i'm
portant movements were in such stocks as
Chicago Gas, Cotton Oil, Wabash preferred,
Sugar and st. Paul and Duluth.
The opening was very active, ana the
struggle between the different forces in the
market was early seen to be severe one
with the advantage on the side of the bulls,
the opening gains of small fractions being
followed by further fractional gains in the
general list, while the only material move
ments were in Cotton Oil, which rose l5S,
and in st. Paul and Duluth, which on un-
usually large transactions for that stock
moved up rapidly from 43l4 to 49,. Later
Sugar displayed pronounced strength, and
Wabash preferred scored an advance of Ia
per cent, and Lake Erie and Western 81
with l per cent in the preferred
The great bulk of the stocks traded inI
however displayed stubborn strength
which was sufficient to absorb the offerings
but showed lack of speculative forcing,
and while the list was placed on slightly
higher level than that of last night no
movement of note took place. In the late
dealings the realizations became more
numerous and some shares yielded enough
to wipe out the early gains, Northern Pacific
preferred being specially prominent in the
movement The market finally closed
most of the list still at small fractions better
than last night. Wabash is up ~; Cotton
Oil, IL; and Sugar per cent.
The total sales of stocks to-day were $751;
5S3 shares including: Atchison; 30, AGO. Canada
Southern, $3.50: Chicago Gas, Is, 17s; D., L. &
w. 9,167: Erie, 50,7S5; Louisville and Nash
ville $3.50: Missouri Pacific, 4 $50: NORTH
western, $3.50; North American, 1850;
Northern Pacific preferred, 69lO Reading,
81 l60; Richmond and West Point, 7405; ST.
Paul 1880; Union Pacific, 1915.
Railroad bonds were relatively stronger
than stocks. The largest business of the
season was done at che same slowly-advanc-
ing prices. The Atch1son issnes and the
Reading issues were most prominent in the
trading, but other bonds of less note scored
the more important gains.
The following table shows the prices of active
stocks on the New York Exchange Yesterday.
Corrected uaily for THE DISPATCH by WHITNEY Il
Oldest Pittsburg members of New
York Stock Exchange. 81 Fourth avenue.