New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-07
CHASING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Wednesday, April 6-p. m.
An increase in the volume of business today for
the 1rst time in many days. did not represent
either liquidation or declining prices In bet
ter distribution Of transactions too, the market
made a gain in its standing before the conserva-
tive element in Wall Street. Tie short interest
contributed largely 10 the increased activity hy
covering contracts, but there were indications OF
buying which might foreshadow renewed aggres-
sion by the bull cliqucs The improved tone
primarily came from the continued purchases for
London account For three days al least these
operations have been obvious and persistent. and
q weakening tendency in the foreign exchanges
Pas lent color 20 the legitimacy Of the trans
actions The remarkable ease in money In London
would seem to assure a lowering in the Bank oil
England discount rate tomorrow, but arptiaee
houses here ascribe considerable importance TO u
judgement Of the British House Of Lords which,
in reversing a former decision OF the court or
Anpeals. will facilitate the procurement of loans
with incorporated banks for the purpose OF carry
ing American securities. In the absence OF inioT-
nation in detail this influence may not DC 'nof;
0upbly discussed, and in any event, tbr pIlnclpdI
matter of interest 10 spectators or investors IL tue
attitude OF foreign operators II Enr1P IL ~
covering from the poverty CONDITIONS WlilcIl .",l
bincd with political and other considerations. nave
induced il for mont ms to feed our market WIN
American securities, that fact Will coun, much Ill
the making OF nOHP SHulH'u,'
The local market IL consldrrcd 10 navy p'v'
benefited by the apparent cessation OF the Ilqulha
ti0n i'm New-lOrk and Ncw-England STOCK. lhab
stock early broke 10 80 "a, and helped Ia nm
settle the general list Temporarily, pun II IaIiieI
with spirit to 40 3-sa40 IA. IL may ne heh'ohcu
here that the friends Of the New-llayen koad arc
confident of further developments shortly whlch
will benefit that property, but II cannot W carhf
whether they necessarily Will InIure inc IiVa
road The Richmond Terminal securities suffered
further depression but the plight into winch ,hc
REORGANIZATION plan has fallen j. now 80 Dad thht
the Street can hardly be injured by It's compete
failure. The appeal OF the reorganization com
mittre for a quick deposit OF the Terminal stocks
and bonds before April Ia might not 90 unbccded
if holders and some important banking interests
realized the chaotic cOndi tons that donb'css womb
follow the collapse OF the present bchcme. E.
The coal stocks were alive with new activity,
suggestive of coming Developments The theory
on which the rise in Reading was explained was
that the death Of the Ncw-Jcrscy egalizng lcglh-
latiOn would compel closer holding Of control IN
order to maintain the coal combination his
hardly cxplains the net advance In Lackawanna Of
over 4 and in Delaware and Hudson OF more than
3 per cent while New-Jersfy Central improved
only l-2 per cent The London buying OF Union
Pacific was liberal, and the stock gained nearly 3
per cent although there were statements respect
inQ the coming change III management thai Inc
Tribune has not already outlined. The movement
i'm ST. Paul aroused the query, why that stock.
which sold nj SO 3-S on January z, should be
this year the company's gross earnings have in
creased over 1891 nearly 100000, and the net
more than 100000.
The general advance in the market extended to
the industrial shares Tie speculative temper
seems 10 be ripe for London influence, and the
closing was strong at about best figures.
TIE DAY IN THE BOND MARKET
Exchange. The market was firm at the appended
final quotations.