New-York tribune., 1896-09-30
CLOSING PRICES or BOSTON STOCKS



The reactionary tendency noted ir the stock
market yesterday continued In the early trading
to-day but II ran It's course before noon and
was followed by upward movement. which
gave net gains TO the majority Of active shares
traded in. Bear operations yesterday were no;
successful in bringing out any investment stock.
and the sales for profits which constituted the
bulk OF the operations did no injury TO the mar
ket, a reaction brought on by such transactions
being healthy symptom and calculated to en-
courage the placing of idle capital in good in
vestment securities. At a time like this. when
the political and business outlook is so vastly
improved over that recently prevailing. reactions
in the stock market furnish just the opportunity
capital is seeking. Probably on every reaction
which may occur between now and election fresh
capital viii be on hand to find investment In the
various properties whose shares are represented
on the Stock Exchange and evidence OF this was
given to-day In the buying movement in both
stocks and bonds.
The report Of the Burlington Company FOR
August was considered more favorable than tx
pected and this helped speculative sentiment
TO some extent. although the dominating nfu-
ence in the market was the support II had from
heavy interests and from investment sources.
The Burlington statement showed a decrease In
net earnings of only s26,2lJ. but this showing
was made a decrease in operating expenses OF
S91 .6G5 the loss in gross earnings being SllL-
$50 In ST Pauls statement, which was pub
lished yesterday. the loss for the month In net
earnings was given at Sl1J,Sll, but It's actual
decrease in gross earnings was not much above
Burlington's. its operating expenses, unlike Bur
llngtOn's. showing an increase ST. Paul IN gross
earnings decreased S13SG19, and Burlington
Sl1 $50 AS noted in this column yesterday,
severe rate cutting has been the cause OF me
poor showing by the railroads. The August
earnings will probably mark the worst results
of the year. for the business OF the country lor
the rest of the year and in the next few years
Will expand and thrive under wise legislation,
and railroad earnings Will be the first 10 reflect
that Improvement Signs Of Frightening bust
ness are increasing and buyers of securities are
taking them on the prospects of future condi-
lions The Granger shares were helped by Bur
lngtons statement closing at substantial ne' au-
yances Increased activity in Reading encour-
aged buying Of the anthracite shares, and the
Industrials under the lead OF Sugar Rehning
were somewhat irregular. but closed az net
gains the only exceptions being American To-
bacco and Chicago Gas. Tobacco stock IL ap-
parently being Influenced by the reports of pos
sible developments at the directors meeting next
week when the question Of retiring the existing
dividend scrip will be under discussion.
The foreign exchange market continued firm
to-day, and sterling was quoted at ngure
above the point at which gold imports could be
prohtably made 1t IL not thought likely that
This rate will hold for any length Of time. or
that the gold importing movement Is over for
this season. especially IL the constant increase
of domestic exports of merchandise are TO Ce
considered For the week ending to-day. ex-
ports of merchandise from this port aggregated
in value SS.506, III. an increase Of more than
50 600 900 over the same week last year. ana
an increase Of about 81 900 600 over the week
ending September y. this year Besides this
the money market here, despite the advance
in European money markets. affords the for
eipn lender better rates, and IL does not seem
probable that local money rates will decline
this year to a point unattractive 10 the for
eign lender There have been fewer com
mercial offerings in the market recently, but
the strength in the cotton and wheat markets
tends TO restrict such offerings and the prev III
ing low rates in the exchange market have n
creased the demand from remitters. About
s. &C O. 900 gold is on Its way 10 San Francisco
Il orn Australia, making nearly $5,OOOooo from
that country, and the demand for our com
modities abroad and the demand for securities
which will follow Mr.. McKinleys election VIII
continue the flow Of gold this way.
Closing prices for a number Of active stocks
compared with the final figures yesterday were
e2 folows.