New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-22
CLOSING PRICES OF PHILADELPHIA STOCKS
WHAT WAS DONE IN STOCKS.

TUESDAY, november Zl--p III.
The course Of prices at the Stock Exchange
took a sharp, even II not wholly unexpected.
turn to-day In every department there pre-
vailed a distinctly more hopeful and confident
sentiment. although there a dearth Of
news Of sufficient importance materially to
affect values A better tone pervaded the Lon
don market before the opening of business
here, but at no time in the day was there APP
parent extensive buying for European account
while foreign exchange was strong and higher
on renewed demand by bankers. Rumors were
current about the probable action of the Ways
and Means Committee but they may not have
come from Washington and some Of them
were nearly grotesque They were accepted as
favorable. but few stocks could have been in
f1uenced by them The strike by the employees
Of the Lehgh Valley Railroad appeared to he
even more effective than 1t yesterday. but
It had not extended to other lines and perhaps
there Is little doubt that the disturbance will
be confined to its present limits. The reorgan-
cation committee Of the Union Pacific Railway
was not announced. as had been half prom
ised while the directors Of the Northern Pa
ciflc Railroad about to move in the courts
to displace Mr.. Cakes from the receivership
and substitute the present president Of the
company There was little In these develop
ments and rumors to explain the abrupt change
in speculative temper. Prices moved upward.
however, from the start and. although occa-
sionaliy slight hesitation was pcrceptible in
a few stocks, the movement was continuous
and virtually uniform II was started I'M
doubtedly by brisk buying for the short ac-
count and the advances In the leading stocks
probably measured with approximate accuracy
the relative extent OF the short interest In them.
That good part Of the recent selling was by
the bear faction was proved 10y the rise because
the volume Of business was not very much
above the usual average and the market was at
no time active 1t is within the range OF pos
sibility that the assumed leaders OF the bear
faction started the upward movement in the
To-
following. In that case. they must have been
surprised by the prolonged advance and by the
evidence of buying for the opposite account.
Generally the closing was at the highest points
and with undiminished spirit. Sugar Refining
was in every respect the foremost stock. The
transactions In 1t exceeded $1,000 shares or more
than one-third Of the total business while 1t
advanced over per cent, and at the very Gloss
appeared to be In demand. ST. Paul was next
In activity. although long way behind the
heading stock but 1t also closed at its best
figure with a gain OF TX per cent or the other
Granger shares Rock Island and Quincy gained
1% and Northwest IA per cent. Western Union
Telegraph was conspicuous by a rise of 2M per
cent. The movement permitted no exceptions.
and aside from the stocks mentioned the final
advances were from l TO u. per cent Erie
affords an excellent illustration because II rose
IN per cent on transactions In less than 1900
shares In almost every instance last prices
were the highest.
THE DAY IN THE BOND MARKET.
There were no transactions In Government
bonds at the Stock Exchange, but the market
was strong In tone. and bids for both classes
of Is were raised a per cent Closing quota
lions were as follows
Bid. Asked. Bd.Asked.
U. B. avs. 1891, us.cur.es. 1895 1903 -.
continued at Scur.6s. 1895 c5
81 isss s::$:: I:;:iI
-3-05 1894 Inv ll2
Among state bonds there was moderate
business in Virginia funded debt 2-s per cents
at 50 and 52N. The only sale Of city bank
stocks was Fourth National 60) at 200
The general bond market was characterized
by an active and urgent demand Reported
transactions amounted to $SG00O0, against
31,1750O0 yesterday. The strength OF the mar
ket was not less prominent than the revival OF
interest and. moreover the business was
widely distributed and the movement almost
universal. Atchison general As were y per
cent higher at 7e. but while A seconds were
active they were not greatly changed Chesa-
peakc and Ohio general AVS rose Ia per cent
to 76M. Erie second consos were in active
demand, rising about per cent to 7Ix. Rock
Island coupon IS gained q per cent at 99% and
Chicago and Eastern Illinois general 81 were
unusually active at an advance OF " per cent
to 9sX. Philadelphia and Reading issues were
a,iet. but excepting third incomes. which were
entirely neglected, they gained large fractions.
Among special issues Oregon Improvement Is
rose tx to a. Kansas and Pacinc consols TO