New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-21
CLOSING PRICES OF PHILADELPHIA STOCKS
WHAT WAS DONE IN STOCKS.

Monday July cop. m.
Speculation in stocks, is controlled, temporarily
by the uncertainty about the commercial ana
financial situation in Europe. The English mar
l;ct apparently was not affected to-day by the
bank failure announced on Saturday. but fresh
engagement of gold for shipment to London was
made 1t would have been better, perhaps, IL the
shipment had been omitted and a little more
pother had followed the suspension OF oahh
with 49,, 900. 900 of deposits which prooaoly are
invested in South American securities. Inc sus-
picion might be aroused that the strength OF the
London market was superficial and intended ony
fer effect on prices here, while the export vi
specie was a hard fact which could not be ig-
nored II gold leaves the country at the present
rates of exchange and in face of the trade balance
no one may safely predict the end of the move
ment The two latest shipments may be followed
by others which also may be explained on tne
theory that they are special transactions 1t
would be relief 10 know the amount of peremp-
tory orders and special transactions which tns
country must meet. there might be no disaster
even if Europe gave notice that 1t was oollged
70 withdraw all it's funds more suitable OPP
portunity for a settlement of accounts could not
be desired by the United States. .
There ought to be an end forthwith and for
ever of the recent financial METHODS Dy when
assistance is rendered to bankrupt firms and IN
situations The object is simply 70 dlstrlDute
what ought to be original losses, while the effect
is concea lment of the real condition OF aHalfs,
The stagnation which now afiicts speculative mar
kets everywhere is the direct consequence OF uhe
false financial theories which have prevailed since
the failure OF the I}arings in November.
The stock market was somewhat more active To-
day and naturally prices declined. The opening
was rather strong in response to what was called
reassurng news from London, but the first prlceS
were virtually the best for the day. The engage
nlent of $500, 900 gold for export tomorrow tully
counteracted happier announcements me granger
shares were specially weak, although the crop news
was favorable and the receipts of grain az ChcaSo
we're reported to be unusually heavy. The decline
of nearly 2 per cent in Chicago. Burlington and
Quincy may have been due TO selling for the short
account and in that case the loss OF about l per
cent bv Rock Island and the gain of only l-S per
cent by ST laal must be considered sympathetic
Aud vet AtchisOn closed 3-S lower, although the
directors of the company announced per cent
interest on the income bar DIS, and Missouri Paclllc
suffered still lar!er loss. Both lines run through
a territory where large crops have virtually been
harvested The reputed short selling OF Burllng-
ton moreover, hardly explained the weakness OF
lake Shore and Union Pacific, while the decline IN
the anthracite coal stocks could not be fairly at
tributcd TO possible doubts about the corn crop:
The closing was at a rally which made the 1lDal
variations generally fractional.
TIE DAY in THE BOND MARKET
Government bonds remained neglected and, ap
parently for no other reason, the as yielded la
and > per cent. The market was not weak at
these closing quotations: