New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-25
CLOSING PRICES OF PHILADELPHIA sTocKs
WHAT WAS DONE IN STOCKS.


The stock market was more active but less
famboyant than it was yesterday. The trans
fer of a few thousand shares Of Lackawanna
stock to the name Of Of the Nanderbilts
failed to exert a lasting influence. 1t was recog-
nized as a mere sequel of some financial compli-
cations in the July panic, and, instead Of being
a purchase for investment. it probably
fresh proof Of enforced liquidation at that time
Elaborate theories in regard to its purpose
whether they concern the relations OF the trunk
line railways or the anthracite coal companies.
become valueless when 1t is remembered that
the acquisition might hardly have been made If
circumstances had not apparently compelled It,
That the best will be made Of the bargain is
certain. and 1t Is not impossible that the future
conduct Of the Lackawanna Railroad will be
more in harmony with the dominant interests
in the anthracite coal trade and the trunl, line
association. The community Of interests has
not become powerful that higher prices Of
coal may be feared or competition in traffic
between this city and Western points wholly
stfed. In the circumstances the activity and
strength in Philadelphia and Reading stock and
junior securities the most conspicuous
features Of the market to-day The efforts In the
stock were not remarkably successful. and
after unusually large transactions the final
gain in its price was only "a per cent and its
last was not above It's opening price. This
stock however was somewhat better of than
its neighbors, because Lackawanna fell 7 per
cent, and, In spite OF a smart rally, suffered "A
loss Of per cent, while the other anthracite
coal stocks closed large fraction lower. This
movement may have been only natural
reaction from the abrupt advance made
yesterday A feature of almost equal prominence
was furnished by the fluctuations in American
Sugar Refining. which, by the way. has
yet been placed the regular list at the
Stock Exchange. The company consequently
Is not forced TO make statements In regard TO
ings and increased dividends lack official author
ity. II Reading be reduced TO full stock
Sugar Refining remained foremost In point Of
activity. Its fluctuations in price also the
most violent and interesting. From its lowest
point, which was reached early in the day the
stock rose z per cent. and falling rapidly in
the last few minutes closed with a gain of
was accompanied by rumors Of embarrassment
that were said on the best authorities 10 be
wholly unfounded. The other changes in view
Of the extreme activity in Reading and Sugar
Refining. were hardly worthy Of notice The
Granger stocks gained finally from to IL per
cent. and even larger advances were recorded
in special stocks in which the transactions
were light. The closing confident I'm the
main, and affected by favorable reports
from Washington in regard to an early repeaI
OF the present silver law. The loanine rates
for stocks If they can be accepted as a guide
did not indicate any material reduction in the
short interest.
THE DAY IN THE BOND MARKET.
There were no transactions in Government
bonds at the Stock Exchange. but the market
strong and fractionally higher. Bids for
the extended AZ per cents were lowered / per
cent. The final quotations were follows: