New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-09
CLOSING PRICES OF PHILADELPHIA STOCKS
Tuesday. September S-p. m.

Tuesday. September S-p. m.
Recent incidents in the stock market pointed
toward d reaction in prices. and expectations
Saturday that il would come to-day were, In
measure. fulfilled. as during the morning, de-
clincs were general net losses in the first two
hours IF trading running from Il to q per cent
Traders were in control. and little be sides pro-
fessiOnal transactions was accomplished. There
was some disappointment over yesterdays de-
clines in the London market. and the rather
unsteady tone there today promoted weaker
tone here Opening prices we're well below Sat
urday's closing. but in the afternoon the ma
joriy of stocks enjoyed a rally and last prices
showed few material changes from last weeks
closing. most active shares being at net frac-
tional gains In the early trading Manhattan
attracted considerable attention. break from
the opening at 81 TO sos being precipitated
by rUmors that the quarterly dividend would
be reduced a groundless report. however as at
the directors meeting the regular ~ per cent
was declared The influence of this declaration
upon the stock was shown in rapid recovery,
but the enthusiasts the stock. If there are
any should bear in mind that the company
for the fiscal year ended June 30. showed
deficit Of S6S1 903 against one of S2II.9J2 in
the preceding year. and that the surplus. which
is given in the reports over $4,oOOOOO is
being encroached upon for dividend payments.
In 1895 the Manhattan company carried on Its
main lines where the cable roads were the
chief competitors for traffic 10 1856 passen-
gers. against 100 S54 in 1894. or a loss Of
! | 49, 1913 passengers. which was loss In fares
Ct over half a million dollars. NEWCOMERS
evidently do not like the dingy and foulsmell-
ing elevated rolling stock. More regard ior the
convenience and comfort of the public by the
Manhattan company would give 1t some popu-
larity with the travelling pubic. and conse-
quenty make its stock more attractive as an
investment holding. Western Union directors
also decided upon the regular IL per cent quar-
terly dividend to-day
The financial situation showed little material
change to-day. More gold arrived from Europe.
some of which was deposited in the Sub-Treas-
ury ard il reported from London that
further Withdrawals had been made from the
Bank Of England for shipment here Up 10 the
close of business hours $66O,W gold had been
deposited at the SubTreasury In exchange for
legal tenders and some OF the Assay once
checks for gold deposited last week were ex-
changed for legal-tender notes, the gold thus
deposited at the Assay Office becoming part OF
the Treasury reserve. which. II Is likely. no"
stands near S1O1 600 600 the deposits OF Satur-
day and to-day not figuring in to-days Treas
ury statement. The sterling excharge market
was steady. with the chief demand from gold
importers. and in the money market there was
no change from conditions prevailing at the
close Of last week. In Germany money rates
were higher to-day. owing to an advance yes
terday in the offciii discount rate OF tne I'M
pera Bank OF Germany. The closing prices In
stocks were at better figures than the opening.
the excellent showing made by the St Paul
company in the year ended June .'0-as set
forth In its report published inns afternoon
contributing To the stronger tendency. Little
interest was taken in the result Of the Arkansas
election as it not considered that that
election was any guide for the November re-
suit traders efforts to create uneasiness on
account of the Democratic fraud victory fall
ing fat.
Sugar Refining gained Ia per cent: BurIing-
ton is. per cent; General Electric. 1as per cent.
and Western Union. 1ss per cent. Elsewhere
among the active stocks gains were fractional
Illinois Steel. Atckison preferred. Laciede Gas
Missouri Pacific Susquehanna and Western
preferred and Wabash preferred were among
the weak features at the close.
Closing prices for number ~ active stocks
conn AIRED with the final figures OF Saturday
va follows.