New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-08-29
CLOSING PRICES OF BOSTON STOCKS.
Friday. August 2S-p. m.

The stock market developed much strength
to-day. There scarcely a stock on the ac-
tive list which did not show good gain. The
market derived its strength largely from the
gold importatons The speech of General Har-
rison at Carnegie Hall also contributed ma
teriaiIy to the restoration Of confidence in the
situation. Altogether il was the most hopeful
day in the financial community in weeks. Bur-
lington and quincy was again made leading
feature Of speculation by sharp advance which
followed the publication of the report OF the
company for July showing ar increase in gross
earnings over the corresponding month in 1s95
Of S1O15S5 and an increase in net earnings Of
S11O.729 There was surplus after charges
of 1913 323 against deficit last year Of S10.36O.
There was a general covering of shorts during
the cay The closing was strong
There was a complete Generalization in the
foreign exchange market Sterling rates were
carried far below the gold-importing point, and
an additional impetus was given to he move
ment Of gold to this country from the otner
side At the end Of the day the gold when had
arrived. was on the way, and had been engaged
for immediate shipment from Europe agSre-
gated S121OO0OO. The first arrivals were
$500 600 by the St Louis. of the American Line
and S17J0O00 by the Normannia of the Ham
burg American Line. Nest Of this latter con-
signment of gold was procured in Paris The
succeeding lots have been obtained IN London
The Bank Of France has sought TO prevent gold
leaving its vaults by an advance Of Il per mill
in the premium charged. and this makes oil
ference of about one-half a cent per pound in
exchange, or enough to render it more advan-
tageous to secure gold in London. The Bank Of
England is making no effort TO stop the outward
movement Of gold from London. In fact II
could not very well do so without unwarranta-
tlv interfering with necessary financial trans
actions The only thing II has tried to do is TO
induce the use of American coin, instead OF
hars or sovereigns which, as has been eX-
nIained is an advantage rather than dls-
advantage TO shippers 1t has put up the price
NJ bars and nut down the price OF American
oaqles The coin which il supplies is said TO be
Of pretty good weight but stil there - SUI
fjcient abrasion To snow gam Ior inc A'-' w
can ironorters when they come TO dispose OF II
here where il is taken at its full race Naiue
There appears 10 he now reason TO eXpeC6 -n n,'
the importaticns Of gold VIII reach
or So 100000 by OCTOBER l. IL Ho' ny '''0 NM
there IS also some reason to think that the
,norev market will relax, In degree, pelva
Tho close Of the coming week. even without tIs
issuance of Clearing House loan certliicalcs' Il
il shsll do So it viii be the CONSEQUENCE OF In
influx Of gold. II is true that me now u ~ ~
reucv TO the interior. particularly 10 lhe "tat
and South will not end for time yer, put INC
presence Of S10O00O0O or Slo,oOVu"' Oh nv
nonev in the shape Of imported gold VIII nah1
up largely for the loss Of currency. ana WIZ
certainly make it easier for borrowers. IL IS
natural to look for ar unfavoraDie pank IN, I
800 tonoorrov The currency Outgo VIII De
reflected in it, while the gold importauohs VII,
not Next week the stat me MT ougnt 10 De' anu
probably we'll be. altogether Inherent .,.o
p Nrotswortbv advances in the prices Of active
stocks. comparing to-days closing with that oil
YESTERDAY were American Sugar, "a amer rs,i
can Tobacco. a. Atchison preferred. ~ en- en-
capo Gas /: Burlington and Quincy. "a; CHI
cago and Northwester. 1i2 General Electrio
~ Illinois Steel AZ Louisville and Nasn Nn
Iersev Genial IA: New-York Central. n
Reading. /: Rock Island. 19s: St Paul. L.
Southern Railway preferred. l@s Lfa liner pre-
ferred. rs. apd Western Union ~ Inc '''"'
sales were 1866 shares -.,..o a.oous
Closing prices for number OF actve t stuGny
compared with the final figures Of yesterday
wore as follows: