New-York tribune., 1896-11-20
CLOSING PRICES or BOSTON STOCKS.
Thursday. November 1872. m.


Early trading in stocks developed strength uue
70 covering shorts and little commission nouS7
huying but in the late afternoon Deai 'aU''
tegan 10 SELL their operations resulting III "iee
ularty and many net losses at the cioSe' n w
cline in the wheat market and stronger s'erl''s
exchange may have prompted the iate Ieao''o''
although neither factors would nave oee" vi
sufficient importance TO affect snare specui"'''''
unfavorably II there had been any legithia' 'e
support 10 prices Large operators old lit'ie' anu
the small boardroom traders were pretty eehei
ally in control except In such STOCKS as "us"l
Refining and American Spirits, whlch co''''i'ueN
10 reflect the manipulation which mas chai
lied dealings in them in the last rev days Do'"
stocks lost IL per cent. the only noteworthy
losses among active shares. Atchlsoh' |heea
peake and Ohio the Grangars. Northwest e"-
oepted. the Gould shares. Pacific Mail, keaoihs'
General Electric and Tennessee Coal ana ITO"
resisted to some extent the general weakness III
The afternoon. but their dealings were sila15 anu
uhlmportant the only exceptions DelhS III i.e% a
ing. ST. Paul and Burlington These s'oehs
with Sugar Refining and American spirits Iu,
hlsned over one-half of the total transaciiohS !"
all stocks. An advance in sterling exchanse ap
Prdrcd 10 result from special uahSac'ioi''
c@oie report from London stating that th. az
vance was due to speculative buying anu Aiui "a,
cauons here showing that actual cOholloHs az
hot warrant a strong sterling market. Inc nish
money rates abroad and the low rates rullhe
mere were given as the cause for the Increased
oeinand. but this certainly did not come I"I"
importers. for they do not owe London 70 any ~ eN.
UNI, and the increasing export trade Icdds W t'c
opinion that the demand from this source loi
some time 10 come will be more than onset py d
favorable balance on international trade. lHc
eenand In the exchange market has hot yct
brought out all the sterling bills boarded before
lhe election. The stock market was without
news OF any Importance and there was little de-
M nlahd TOT money in connection with speculative
operations
railroad earnings now being received com
pare with statements last year which showed
unusual Increases over the same tine III lh1
preceding year, and they do not reflect actudi
r~hditions now existing In general trade cHcie9.
me earnings in October were poor. On account
the disturbance to business caused by silver
ssitation and the returns for the hrst t"o
weeks in this month made unfavorable eN-
noits for the same reason. With the exception
W W the roads In the South and Southwest ear
...ss al this time last year were lncreaseu py
tae neavy movement in grain. by the reviva,,
a., !" .ne iron industry and by general rev
~ ~ Trade following the good work OF the ponu
yndicate. and. although there has been heaVy
sam movement this fall. the roads IN tne
so,,nwest 80 have lost in earnings on accouii.
a. tne phenomenal crop in the spring wheal
sstncts last year On the other hand the
.oaos In the South and Southwest snow IN
res reases over last year. due to this years I'M
S.o'ed cotton movement reflections or WHICH
~ Sce found in an increase for the second week
- - november by the Missouri. Kansas an"
.ssxas. Of x63. 776 From now on railway re-
.urns should show improvement over last year,
~ trade Is reviving and reports from all over
t ae country are growing brighter every day, ex-
~ os1aing ing encouragement and hope to the Owners Owners
49,, - al classes Of railroad securities. OCTOBER
tssurne and those for the first two weeks OF
tn s month should not be taken as basis TOT
,sessIhs the present earning power or the ran
oaos; nor should the recent decreases be judged
- ~ stogether unfavorable exhibits. as the com,
E.s'sons are with an unusually favorable perlod
49, year. Compared with 1894. recent earnings
~ SHOWN In many cases a fair percentage OF
Ss.sase. as In st. Paul. which. for the second
ssxi ~ IN November gave loss Of x2l4,0oS. com
SSeo with the same week In 1885, but an IN
se Of S74105 over 1894 Reports from the
s. z"~t indicating the increase In business ac-