Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-07
NEW YORK STOCKS.
Prospects of Financial Legislation Booms
Silver BuIlion, but Has Little Lasting
Influence on Stocks-Most Changes
Advances, but Very Slight.


NEW YORK. Jan 6-The consideration by the
Senate of The Financial bill was said by the
bears to open the door to a free coinage act
and they used this statement to hammer GER
tain stocks and thus affect the general list ad-
versely. The Omaha bridge matter was also
used in connection with a specially vigorous
attack upon Rock Island. which was forced OFF
2per cent There were furthe. losses estab-
lished in the general list during the forenoon.
The temper of the speculation, however
underwent marked change for the better
later in the day, and toward the close good H.
vestment buying was again noticeable. On the
whole, the outlook for a much better market
continues favorable. and there is considerable
money in the banks and banking houses seek-
ing investment
There was at the opening a continuance of
the selling for foreign account, which has been
such feature of the dealings of late and this
also gave its influence in the making of lower
quotations at the start. The concessions from
last nights figures, however. were in all cases
slight. and in the declines which followed there
was no marked impression made, outside of
Rock Island. which yielded 2 per cent and
Colorado Coal. which lost l. The revulsion IN
feeling came at noon. and from that time there
was steady, though in most cases slow, appre-
citation. which finally placed most of the active
stocks on slightly higher level than that of
the opening
Louisville and Nashville was the leader in
LnlS advance. Notwithstanding the 1acC that the
rumOrs in regard to the dividend were still cir
culated freely. The strong point in the list,
however was New England, which became
prominent in the upward movement in the last
hour. after yielding only fraction. 1t stands
alone in showing material Improvement for The
day. The market retained its strong tone to
the close, which was active at the hest prices of
the day. The advance in New England was
II per cent, and the other changes are irreg-
ular with majority of advances, which, how.
ever, are for small fractions.
Railroad bonds were again very active. the
total days business reaching 81, 357 600, and
while the market was inclined to follow the
weakness in shares during the early trading,
there was most pronounced strong tone later
in the day. The gains in a few instances were
large. but in the specially active issues. Atchi.
Northern Pacific IS, which sold Sill, 900 there
were only slight changes. Big Sandy Is, how
ever, rose 8 to 93 Omaha aud st. Louis lists. 2
to 55 and Louisville Trust 5s. to I03
The Post SAYS: Silver bullion was almost the
only thing dealt in on the stock exchange to-
day. that was higher in the forenoon. 1t was
up nc in the first hour. owing to the belief,
the force bill had been accomplished only by a
compromise which would, at least, insure some
further silver legislation to provide for further
purchases or bullion by the treasury, if not to
have some bearing on the free coinage ques-
tion.
Exchange was again advanced u cent on the
pound again to-day by some of the foreign
houses. for the same reasons that it was ad-
vanced yesterday.
The following table shows the prices of active
stocks on the New York Stock Exchange yester-
day. Corrected daily for The DIsPA1CH by
bers of the New York stock Exchange, 57Fourtt
avenue: