Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-12-14
BIG GOLD EXPORTS
Fail to Diminish the Strength
of the New York
Stock Market.
THE TRUSTS STILL LEAD.
Whisky, Sugar, Gas, National Lead,
Starch and Cordage Prominent.
ROCK ISLAND is QUITE ACTIVE
On the Prospect of the Liquidation Of Its
Claim against the N. & St L.
ROCK ISLAND is QUITE ACTIVE
CALL MONEY ADVANCES NEARTHE CLOSE
ESPECIAL TELEGRAM TO THE DIsPATcH.I

ESPECIAL TELEGRAM TO THE DISPATCH!
NEW YORK, Dec. 13-Though to-day's
rock market was not large affair,
tendency to broaden was discernible and
degree of strength was displayed that was
remarkable in view of the heavy exports OF
gold TODAY, those scheduled for tomorrow
and the prospects of still heavier ones next
week. The amount shipped to-day was
8, ,75O, 600 and the amount engaged for to-
morrow's steamer is s., ,0OO 600. Wall street
has apparently begun to view this move
ment of gold out of the country with GER
tain degree of complacency and to regard its
continuance as inevitable.
The event looked forward to with the
greatest interest to-day was the declaration
OF its quarterly dividend by the Distilling
and Cattle Feeding Company. The ex-
pectations of those best informed as to the
affairs of the dstilling company that the
dividend would be IA per cent were
fulfilled. The street, as usual, argued that
the increase of per cent dividend had
been discounted and sold the stock, with
the result of leaving the price point lower
than yesterday.
National Lead rivaled Distilling in respect
to activity and closed at a net advance of
17er cent The movement was based upon
reports of progress in the direction OF
consolidation with, or absorption OF, the
National Linseed Oil Company. Dealings IN
rlc stock OF the last named were light and
left the price fractionally lower than
Yesterday OF the other industrials Sugar
Refining and Chicago Gas were moderately
active and tie market fCr them was nlIn
National starch showed animation Tor the
first time and scored net advance of 22
per cent The market for National Cordage
NJ, arT rT.acr f1a HOnnunc cement that
the stockholders have assented to an
increase o. 100 per cent in the common stock.
In the railroad share list the most import
nut dealings we're in Rock Island. num-
Der of circumstances combined to stimulate
& demand for it, One was a notice that the
reorganization committee of the Mime
arOlis and st. louis Railway Company has
given the court notice that the committee
has in hand sufficient to pay off the obliga-
tion. which amounts to about s., 900 OCO and Is
chiefly held by the Rock Island Company.
The Liquidation of this claim means that the
creditor company will receive between
S5.0lJ0OO and $4,000, 900 in cash.
The market developed its greatest strength
in the afternoon, but sold off slightly at the
close owing TO an advance in the rate for
call loans to per cent. The closing was
steady.
SPECIAL FROM DOW. JONES co.,
NEW YORK, Dec. 13.-There were three
features of interest that affected stocks
favorably to-day. The first was the con-
Uinuous advance in Lead on progress in the
NEGOTIATIONS with Linseed Oil, and the
knowledge that the stock had earned per
cent Keene brokers were buyers at the ad-
vance. The second was sharp advance in
Rock Island on the announcements that the
NJ nueapolis and st. Louis Railway will
pay OF the equipment bonds, thus
giving Rock Island s4OOO,OOO cash for
the bonds This started n lively move
uent in the other grangers and
forced some belated bears to cover,
eepeciallv in Burlington, Boston having
cc:~ed selling long stock for the time being.
A laird feature of Importance WAS some
nuvfns, in Union Pacific on the return from
Europe OF Mr. BClsscOsIn, as il is understood
fr.sr lie will control the road after the next
election. 1t is believed that he has secured
the support of the London firm whose proxy
was .l-ed bv Wurmser Tor Gould last spring.
Friends o Union Pacific say also that action
usay he taken in Congress on the Pacific
RafIruad'~ funding bills. 1t is thought that
foreign buying would follow either OF these
facts
q. Ter cent for the quarter caused an ad-
vance in the stock, although the dividend,
n in the case of Western Union and Dis
ffrcrs had been discounted. The latter
sock was inclined to sag on realizations,
and other weak spots were Reading, despite
-r.s lie of some bonds abroad by Secretary
Ta,ior, and Northern Pacific, preferred, in
which however, support was promised by
Pai.aGclpnia in the event of further fall.
The general impression among traders is
that the market is more natural than OF late.
No more gold can be shipped this week,
~ no French or German steamer sails till
Tuesday next. Exports next week are
likely to be heavy. Sterling is higher.
senator JullOm's amendment to the inter-
S.a-e commerce law is considered i'm
pyr.ant.