New-York tribune., 1896-01-09
CLOSING PRICES OF san FRANCISCO STOCKS.
on THE STOCK EXCHANGE


Sentiment in the street was tranquil in the
absence Of any news and there was nothing to
prevent the markets natural tendency from as
serting itself Outside OF the National financial
situation there is nothing In sight ~ a dis
couraging nature and when there no de-
veIopments bearing upon the Governments $
financial position and plans higher values in the
security marke; are likely to prevail Prices for
most stocks were higher to-day. The discourag-
ing part OF the National financial situation does
not lie in the active present condition OF the
Treasury. but in the complications and disturb
ance which are apt 10 follow when the ADMIN
istration persists In experimenting with I'M
practical financial theories az tn" best methods
to fortify and strengthen the Treasury. the
gold which the Treasury gets from bonds
cannot be kept if the receipts continue to
fall behind expenditures Three bond issues
have been made to replensh the Treasury, yet
the gold reserve Is below s59,Ooo.ooO, and FOR
these bond issues the country VIII be- called
unon TO pay sl2477s 4sO In interest. As yet there
ia no agreement In Wall Street IA to the result
Of the last call for gold for. bonds nor is there
anv agreement as to its effect upon the money
and foreign exchange market in the next thirty
days The free Offering of gold bllis To-Day
foreshadows further gold exports on Saturday.
and II Is not at all unlikely that they VIII
amount to high total The presence or gold
hills and a somewhat better supply OF com
mercisl bills caused An easier foreign exchange
market dema nd sterling closing at iss, re-
ductiOn of Hc. - ,
Early advances in stocks fell Of a little toward
the closc bat most Of the active shares were
above yesterdays last figures The most c"i-
spicuo,is advance YVES ir Delaware ana HUDSON,
which gained 2>s per cent on the anrounceinehl
that the regular per cent dividend would be
Al. MT
action OF this cOmpany's directors, Tor tht con-
d,tion of the anthracite coal trade in the last
year has not indicated heavy dividends Tor IN"
coal companies, and II was D"heVed III some
quarters that the Delaware and tudsOns hlgh
dividend rate would come down Wmie inns
company's coal business, like the other anthra-
cite roads, has been unsatisfactory III the last
wear its regular railroad operations have shown
great Improvement and its increased earnings
from this source may have been sufficient 10
offset the loss sustained by the unfortunate
condition OF the coal trade. II must be reInein-
bered however. that the present dividend Is
not Daid from current earnings. but from lis
accumulated surplus. The policy Of the com
pany has always been to increase Its surplus
Whenever possible. in order to insure regular
7 per cent dividends In bad years. such as
1894 and 1885, and the conservative and abie
management of this property has made such
surplus fund Of large proportions. All the coal,
ers were strong Other stocks which scored
substantia gains were Cleveland. Cln'An-
ratj chicago and St Louis, st. Paul Northwest
and Denver and Rio Grande preferred Man
haitian weak feature. selling over per
cent off London bought small amounts OF
I Iouisyile and Nashville and st. Paul nut gen
erally sold the other International shares. Deal
were more restricted than in several days
and only in two stocks-Sugar RenhinS ana
st. Paul-transactions amounted 10 more Una" ina
N oOO shares. the total for the day being IA
5sS shares. against 264276 yesterday. Tne CLOS
Ing was dull and irregular.
Closing prices Of the chief active stocks COM