Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-06
NEW YORK. STOCKS.
Strong Tone With Investments as the Prom
inent Feature-Greater Activity in
the List Than Any Time Since


NEW YORK, Jan. 5.-The stock market to-
day maintained its strong tone, and the invest
ment character of the buying was the mos:
prominent feature of the day. The dealings
showed a pronounced broadening out of the
market, and some stocks which have been
neglected for months were traded in and the
activity in the general list was greater than at
any time since the present rise began. There
was considerable selling. which appeared to be
for London account. but there were indications
that it was largely manipulation and seemed to
have no appreciable influence on the new buy
ing, which has now come to be SO pronounced
a feature of the market. The traders
ferings were easily absorbed, the ur-
gency of the demand taking everything
put out and more beside There was consider
able realization in the last hour, which settled
many of the leading stocks away from the best
prices. but never at any time OF the day was
the strong undertone impaired for a moment.
The increasing ease in the money market is at
present a most encouraging sign and the sur
prisingly favorable bank statement of Saturday
was not without its influence to-day. The SELL
Ing OF the arbltrage brokers atno time, except
Just at the opening, was of any material infu-
ence and it was felt principally in Louisville
and Nashville, about which there are many
rumors afioat in regard to the next dividend.
the most pronounced being that the company
would have to pay portion of 1t In scrip, as the
amount OF stock authorized for dividend pur
poses was exhausted in the payment or the
last dividend. These rumors, however, had no
material influence except at the start and later
the stocks showed marked strength and is one
of the lew active stocks showing an important
gain for the day. The Fanderbilts were all
conspicuous FOR strength and there was more
trading in them than usual of late, while the
Nillards were helped by the late statement of
the Northern Pacific and North American in
particular became The leading feature of the
market in the afternoon. The activity in
Lackawanna and the Grancers was great, but
none of them were able to hold the advances of
the morning in the face of the realizations of
however, showed considerable strength with
most of the list at close to the highest points.
The list is generally higher tonight. but the
only important advances were North American
u; Wheeling and Lake Erie preferred, l3s;
Louisville and Nashville. IL Northern Pacific
preferred. III and Chicago gas per cent
The railroad bond market partook of both
the activity and strength in the share list and
the business done reached 81 456 000 with
special activity in Northern Pacific 5s, Atchi-
son incomes and Reading firsts. The majority
oi the active bonds show advances, and some of
them are over per cent.
government bonds have been dull and steady.
state bonds have been dull and featurelcss.
fetfoleum opened steady and advanced
slightly on light buying orders from the West,
closing firm.
PENNSYLVANIA oil. spot. opening at 727z; high
est, 70; lowest, 72s4; closing, 7S January op-
tion: opening. 741s; highest, 74a; lowest, "a;
Lima oil. opening 20; highest, Il; lowest, 20;
closing: 2o1a; total sales. 81, 900 barrels.
The Post says: The first positive indication
OF tre suosidence of the financial panic which
prevailed in greater or less degree through No
vember and part of December was the increase
OF money in the New York banks, as shown by
their statement last Saturday. An increasing
evidence of 1t is in the lower rates for money in