Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-21
SHARES BUOYANT AGAIN.
ALL THE GENERAL LIST, WITH SOME
MATERIAL GAINS.

A New Buying Movement, Beginning With
the vanderbilts-The IndustriaIs Also
Prominent, but Secondary to the Recog-
nizcd Dividend Payers-SuRar Makes No
Gain.
NEW YORK, Nov. 2O.-The stock market to-
day was not only decidedly more active
than usual of late, but it developed n strong
bulIish sentiment and the tone of the deal
ings, especially in the afternoon, was fairly
buoyant. resulting in material gains in many
of the leading active stocks while the entire
list showed some improvement over the last
previous sales. The strength of the market
was due to a new buying movement started
to-day on the Information that the showing
of business of the leading railroads at the
end of this year will be much larger than
that of the previous year.
The impression that all the Vanderbilt
lines will divide larger sums than for many
years, has taken possession of the street.
and the investment buying of those stocks,
which has been going on for some time, has
ut last had its legitimate result, and the
buying has spread to the rest of the list
Outside of those shares. the strongest
stocks to-day were Burlington and Quincy,
which selling on an ex-dividend OF ~ per
cent, closed at the same price it did last
evening, having, therefore, regained the
not on the speculative list were st. Paul,
Wheeling an0 Lake Erie, Rock Island and
Reading. The Fanderbilts to-day fairly led
the upward movement, and, while the In
dustrials we're prominent in the advance,
they were second to the recognized divi-
dend-payers, and the temper of the new
buying was seen in the prominence given to
many stocks which are prospective divi-
dend payers in the near future, such as Erie.
The opening of the market was made on a
quiet business but with small fractional
1,,,k&
stocks neutraliZed by the sales of the room
traders during the forenoon. notwithstand-
ing that the strength in the Nanderbits had
become pronounced at that time. Later,
however, the temper of the market became
more apparent and the resistance met with
was insignificant, the trunk line stocks be-
ing followed by the Changers in the upward
movement, which finally reached every
thing traded in Sugar, however, was n
marked exception, and, while it was more
active than for weeks, it failed to score any
material gain at any time of the day, and
finally closed at its last nights figures
St. Paul came to the front in the last hour,
but after its sluggishness during the ea rlier
part of the day it was too late to make any
marked Improvement. The preferred stock,
however, scored a handsome gain. The in
active list was not at any time prominent
for features, and the Vanderbilts were the
only shares which showed any life among
them, the Chesapeake and Ohio, Michigan
Central and Canada Southern, with Nickel
Plate stocks making all the gains. The
market was never subjected to enough pres
sure to even check the rise, and the close
was active and strong at the top figures.
The gains of note include New York Cen
tral, 25s: Louisville and Nashville, 1ss: Rock
Island and Canada Southern, IA, and Atchi-
son, c., c., c. and st. L., Northwestern, Erie
and Wabash preferred each per cent
Railroad bonds were strong like the share
list, but not relatively so active: but the
dealings we're very widely distributed and
with sales of s., 1888 600 only two active issues
were seen. The most marked strength was
in Richmond and West Point The highest
and closing quotations were: