New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-16
LOSING PRICES OF CHICAGO STOCKS.
ON THE STOCK EXCHANGE.
Tuesday October In


There was some good buying in the market to-
day for the long account and buying for the COW
erng Of shorts. which caused complete rally
in prices. resulting in gains throughout the list.
An encouraging and highly satisfactory feature
OF the market was the interest displayed In the
railway stocks, and although the transactions
were not large they were enough to transfer ac-
tivity from the Industrisls to the high-class in
,estment properties The days movement in the
railway stocks made 1t more evident than ever
that the amount Of such available stock in the
market is small and that 1t takes only small
purchases In them to advance prices. The move
ment also showed the underlying strength In
the market, which has frequently been comment
ed upon in this column The fact that foreign
exchange was stronger and that London did 1T
tie in this market was not sufficient to prevent
considerable buoyancy and 1t seemed that the
improved railway-earning outlook in the West,
the settlement OF the rate war there and the new
traffic agreement Of the roads east OF the Missis-
sppi were Just beginning to be realized on the
stock Exchange. The greatest activity was In
the Granger shares. the Southwestern railway
group. in Union Pacific and Chicago Gas
The upward movement began in Chicago and
Northwestern which advanced nearly per cent.
while Burlington and st. Paul. in which the
dealings were the largest, scored substantial
gains and Rock Island, which was not so largely
dealt in, gained rs per cent. Expectations on
the Forthcoming reports Of earnings by the Gran
ger roads for September and for the second week
in October are In favor Of large gains and great
deal of to-day's buying was based on such favor
able estimates.
The adyanc. in st. Paul was not so large as
that In the other Granger shares but this Is
not surprising in view OF the recent foreign sell
ing in this stock and that II Is listed IN Lon
don and largely held there. ST. Paui closed at
77A which is not far from Its best price OF the
year and. in the face Of persistent Foreign sell
ing II has sustained its value In manner
which might well attract attention 10 IL as
stock worth holding onto The SOUTHWESTERN
railway shares scored gains from . 10 per
cent and Union Pacific continued 10 lmprone
on favorable reports Of reorganization progress
The chairman Of the Reorganization commute
said to-day that the foreclosure OF the man
line and of the Kansas Pacific would De pushea
as fast as possible. and that everything "ouiu
be done to meet the just claims or the GOV
eminent and to secure its cooperation IN re-
facilitating the system. Manhattan Hni"
was higher on reports Of heavy increase III
earnings Outside OF Chicago Gas the mus
trial shares were comparatively inactive, p s
on the covering of shorts were higher IN ,ne
unlisted department there were deaHnss W
day for the first time in the stock OF the ne"
American Spirits Manufacturing company, tne
successor of the Djstilling and CattIe reeu'ts
Company. TIL Reorga nzation Commi,tete ~, ~
Distillers received to-day the stock ns,u - y,
the ex-president of the company. accoru'"s ~