The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-10-23
FINANCE AND COMMERCE
OFFICE OF THE EVENING TELEGRAPH,
Tuesday, October %, 1896.

The Stock Market was more active this morn
ing, and prices were 6rmer In Government
bonds there was no material change to notice.
Sc of 1881 sold at 1l3l, and July, 65, 6-20s at
lOSS0108}; 1l44 was bud for old 5-20s; 1861 for
June and July 1905 and 995 for lO-40s. City
loans were in fair demand at an advance. The
new issue sold at l000Dl00{, an advance of I, and
old do. at 81, an advance of {.
Railroad shares we're steady. Reading sold at
58@682, an advance of /; Pennsylvania Railroad
at 57t, no change; and Minehill at 574, no
change; l29 was bid for Camden and Amboy;
SO for Little Schuylkill; 60 for Norrstown 80
for North Pennsylvania; 66& for Lehigh Valley;
29 Tor Elmira common; Az for preferred do;
3l4 for Catawissa preferred; 81 for Philadelphia
and AZ for Northern Central.
City Passenger Railroad shares were un-
changed. Thirteenth and Fifteenth sold at 81;
SS5 was bid for Second and Third II for West
Philadelphia; l55 for Hestonville; 80 for Green
and Coates; IL for Lombard and South; and 294
FOR Germantown.
Bank shares continue In good demanl for in
vestment at full prices. Mechanics sold at 81,
an advance of J. Ill was bid for Sixth National;
1923 Tor Seventh National ; 230 for North
America; $50 for Philadelphia; l34 for Farmers
Kensineton; Sc for Penn Township; 50 for
Girard; 80 for Western; SO for Manufacturers
and Mechan cs'; 100 for Tradesmen's; SO for
City; So for Commonwealth; 20 for Corn Ex-
change; 66 for Union; and 125 for Central.
Quotations of Gold-10k A. NJ, 145i; ii A. NJ.
145S; IL NJ, 1455; p. NJ, l46t.
Canal shares were firmly held. Lehigh Navi-
CATION sold at SGT, slight advance; 2st was bid
for Schuylkill Navigation common; 364 for pre-
terred do; 123 for Morris Canal preferred l5h for
Susque hanna Canal; 81 for Delaware Division;
and so for Wyoming Valley Canal.
There is no material change to notice in the
Money Market. Loans call are offered at
40D5 per cent; LIST class mercantile paper con-
tinues scarce, and ranges at from COZ per cent.
per annum.
The New York Tribune this morning says:-
'The money market is fully supplied with call
loans at 4D5 per cent. By reference to the bank
statement it will be seen that their managers
are still expanding their loans in the face of
steady decrease not only In their deposits but
in their reserve of legal-teuders. Nor is there
much reason TO suppose they will change their
policy until the financial balloon explodes.
Bank officers, managers of railways, and fnan-
cial institutions generally, go great way in
making up the swarm OF bulls who are now put
ting up prices by clique movements, aided by
cheap money at call, They are not disposed
by conservative measures TO check an advance
which would inflict severe terms upon them in
common with ordinary spectators. They may,
however, be brought to their senses by re-
duction in plain legal tenders in the next Trea-
sury statement to the extent of $40 100000, and
perhaps to $l4, 900, 600, aud an assurance by Mr..
McCulloch that he is able to destroy $4,000, 900
forced loan in the form of legal tenders is
| cancelled. Such are the ntimations from
Washington, and in view of the meeting OF
Congress, they are likely to be fully realized
The New York Herald this morning say5:--
! ''The practical ease of the Money Market was
! demonstrated by the offerings of loans at four
per cent. which were made freely during the
afternoon. This was the general rate; but the ce
! few Of the leading dealers in Government secu-
rites were able to borrow at 3@3s. AS on the
25th instant the remaining fifty per cent. OF the
Clearing House certificates mature, there fs
every probab bility that further bank expansion
will follOw.n
PHILADELPH STOCK EXCHANGE SALRs TO.DLY