New-York tribune., 1896-07-23
CLOSING PRICES SAN FRANCISCO STOCKS.
CLOSING PRICES OF CHICAGO STOCKS.
Wednesday. July 22-p. IN.


The situation in Wall Street appeared TO be
distinctly improved to-day. The influence Of
bankers efforts to help the Treasury during
the gold export movement was reflected in
higher security prices, despite Withdrawals Of
81, 600 900 for export Another important factor
contributing to an easier feeling In the Street
was meeting at J. PierpOnt Morgan's office OF
the leading foreign exchange bankers of the city.
At this meeting II was decided 10 take steps 10
end gold exports by concerted action on the part
OF all the leading exchange houses in manner
somewhat similar to that employed by the
Government bond syndicate last year. and
committee was appointed 10 devise the best
method of beginning such an operation the
plan will be probably 10 sell sixty-day bills or
exchange negotiated In the London market. and
it is understood that exchange to the amount
of $4,000 600 will he provided 1t is not likely
that the exchange market will have TO be con-
trolled in this way for any length OF time, TOT
there will soon be cotton bills Offering, ana II
is proba BILE that this wise and patriotic action
of the bankers will cause an increased foreign
buying movement in the security market The
bankers realize the necessity OF restoring pubic
confidence The best way 10 do II is TO end the
toId-export movement 1t is well 10 mention
here for the benefit Of the critics and revilers
of the New-York bankers that risk Is taken
that there will be no profit in the operation for
the bankers and that they undertake a great
amount Of work in order TO help general
business The bank presidents ana the prl-
yate bankers Of New-York have again cause
for the loyal support and esteem OF every citi-
zen OF the United States.
Tbere were some striking advances in stocks,
although the buying power was limited. Ef-
forts OF bear operators TO weaken the market
we're unsuccessful. and final changes showed
substantial net gains in the majority OF shares
7 ondon prices were again higher and arbitrage
ho,,ses we're liberal buyers Of stocks The for
a,gn exchange market weakened under the i'm
nroved conditions, and a number OF sterling bills
.aro cold against stock which will be shipped 10
E,rono at the end of the week. Loan bills were
,r the market and there were offerings OF sixty
dav hills The gold taken for export VIII go 20
Carnany but the effect OF the export on the
Treasury will be Offset by gold turned IN to-uuy
nv the banks in accordance with their promises
yesterday UTp to o'clock to-day nearly Soooo-
0n0 rad been turned In on this account. ana the
rss, ~ the amount subscribed VIII follow In the
Course Of the next week. The principal transac-
,fons in stocks were in Jersey Central. Burlng-
80 c. paul Chicago Gas Rock Island. Louis
vile and Nashville. Sugar Rehnlng ana western
T-rion The market was not so active rs on the
Nrst davs Of the week. and fluctuations were
xn,su i'm comparison with the recent Noieht
choucaa Strength among the active shares was
,nost nronnunced in Sugar Refining. which gained
o7l per cent; American Tobacco "a per cent,
Rnrlnrton 3 per cent; Chicago Gas. 37i per cent;
Gas, 2ia per cent; Delaware ana
Hudson IL per cent: General Electric pei
canf. 4 Krnsas and Texas preferred. l4s per cent
7 aLe shore / per cent: Louisville and Nashville
IL nor cent: Manhattan, 3A per cent jersey
Central 2il per cent; New-York central z pr
cent. Northwestern. is per cent; ROCK lsidnu
os. per cent; st. Paul pa per cent; SoutnNrn J
liz nor cent: United states Leather preferred. rs
ner cont and Western Union. ~ per cent H.,
Closing prices to-day Of nufnptr OF ac"'e
stocks compare with yesterday as iouows'