New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-05
CLOSING PRICES OF PHILADELPHIA STOCKS
iehigh Valley. ?s> :sii Con IT stock %
Saturday. December 4-p. m.

To-day's stock market was dull and irregular.
with Arm undertonc. Commission houses had
few buying orders. and the absence OF agrees
sve support encouraged traders to work for a re-
action in the last hour OF business. Their sue.
cess. however was measured by small fractions,
which in only few issues reached net losses
The majority OF stocks closed at small net gains.
Chicago Great Western issues. Consolidated Ice.
Susquehanna and Western preferred. American
Tobacco. Delaware and Hudson Pacific Mail and
Omaha and Western Union were strong features.
the two first named stocks developing strength
and activity on favorable talk regarding the
companies. Chicago Great Western. next 70
Sugar Refining. was the leader in point Of actv-
ity. transactions in It amounting to more than
1900 shares In the two hours Of business. Earn
ings OF the company for the fourth week In No.
vember were better than optimistic estimates.
and. In view OF the mileage OF the road. the re-
suits were almost phenomenal. Probably no
road in the country OF like mileage has shown
such heavy gain In earnings. All the roads re-
porting for the fourth week In November
show exceptionally fine earnings those printed In
The Tribune for twenty-one roads giving an In.
crease OF 81 per cent as compared with the
same week year ago. The statement OF the
Associated Banks. published to-day. reflected In
an increase In loans the renewed speculative
activity In the stock market Loans Increased
S34765OO and deposits $64l7.1OO. cash holdings
standing 81. 166 800 In excess OF those shown .
week ago. TIE result OF all changes was De.
crease In surplus reserve Of S4379I5 to $22.
$50 as against $50. AGA. 400 this time a year ago
and $40 2N.215 In the corresponding week IN
1898. The showing made by the banks Is stu
somewhat mixed. owing to the heavy disburse'
ments made In connection with the Union Pa
cihc purchase payments
The wheat market this week failed to reflect
an enormous foreign demand for the cereal. At
lantic exports amounted to 4.lSi .6I2 bushels
axainet 2O79 457 In the same time year age
and for the last five weeks to l1611.4Il bush.
els. against 9.S17.150 for the corresponding weeks
in 1896. The large receipts Of grain al Western
points indicate a larger yield than expected
early in the season. but despite the gain the de.
mand from foreign countries should be sufhclent
10 make material difference IN me mar rsv
value before long. The condition OF the money
market Is not favorable 10 bankers who ike "
get good rates for loans and to feel the inhuenes
Of heavy demand for accommodation Receipts
OF currency from the interior exceed shipments,
and the demand for commercial loans CONTINUES
light Yet payments through clearing houses 10.
dicate large volume OF business kegaralns
the improved condition Of business Throughout
the country It Is interesting to note that coliec'
tions In all parts Of the country are more favor.
able than at any time since 1892. Information
the credit man of one OF the largest wholesale 10,
dustrial concerns in the country. his persona.
knowledge being backed by reports to him from
the leading credit men OF the leading houses IN
various parts OF the country. The heavy excess
OF currency receipts Is due In part TO favoraps
collections. When II Is possible TO make eA
tremely favorable collections business must %
necessity be good.
The foreign exchange market was easie, "
the close Of the week. chiefly In demand steriins
and cable transfers long sterling continuins
firmly held with fair demand for Investment.
The accumulation Of long sterling In otnes
cities has been large. The fact that the foreisn
exchange market Ia experiencing comparat.s
scarcity OF bills, when the foreign trade oaiane.
is so largely In this countrys favor arises tron.
the difference OF money rates between New io.S
and foreign money centres. the lower rates ne1s
making it profitable for the purchase OK ions
sterling for investment. This demand Tor pamS .
ers' bills requires the purchase OF IKE amoS Ss
of commercial bills TO cover the sales Ano.noI
influence in the market. which Will be more pr
nounced later on. Is the payment due aoro1a On
January interest coupons and DIVIDENDS. ina a.
much as the money rates here are lowe. ."~ -
in London, IL is likely that the greater par. "A
the payments will be attracted to the last-nans
CITY rather than remain here for relnvestmssnts
The chief influence In tie s xcnsncs MS; nSr.
however u the dsmand tor invss'"s"'