New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-24
CLOSING PRICES OF PHILADELPHIA STOCKS.
Saturday. Oct. 23-p. m

SdtuTudy, w. ~o-P' III
small number Of incor sequential traders
ru,ded the course Of securities values to-day,
operating within fractional limits and endeav-
crns 10 snatch profits out OF insignificant huct-
nations The total dealings amounted 10 only
1872 shares of which sugar Pefning. Chicago
Gas Burlington. 81. Paul. Northern Pacific pre-
.erre6 Union Pacific and Bay State Gas fur
lishcd ~ 500 shares. There was TO pressure 10
sell at any time and bear efforts to bring on
important declines were not successful IrregG-
lary was the chief feature OF the price move
ment with unimportant net losses at the close
Now that Spain has drawn UP ar answer TO the
recent diplomatic note presented to the Spanish
Government by the United States, exaggerated
reports of its contents may be looked for but
holders of securities need not corcern themselves
over the answer or over bear attempts 10 lower
values for neither will have any effect upon the
actual value OF American railroad securities
The bears may hammer prices next week, but
they will also be the first TO buy back securities
which they sell Conservative interests have
absolute faith that President Mckinley VIII con-
duct the country's International affairs upon
lass insuring peace: the only people who seem
10 think otherwise are palc Gel Of bear specu-
lators (who think so for revenue oniy) and tiinid
security holders WHO appear to operate solely
for their own loss and bear profit
The weekly statement Of the associated banks
made noteworthy exhibit i'll all its items. ihe
result Of the cessation Of the outward flow OF
currency and the receipts of gold last saturday
and early in .he week figured in heavy IN
crease In lawful holdings ana general expan-
sion In specie and legal-tsnder balances. Cash IN
creased So 636 600 made UP by an increase or
S5S6960O in specie and S4.TcI.0OO in legal-ten-
Ger notes Loans decreased S6.9il,6oo and de-
nosits increased 81 $50 COO The result or all inc
char ges was an increase in surplus reserve OF
&29U2c0 to S2l904. 1Oo. against Sli.JoooO al
his time a year ago. and SlV,"so y" 81 me
same time in the preceding year. The money
market has been easier this Wcch. and the grow
Ing pethcri of money at this centre insures 10"
interest rates throughout the rest OF the yea
a favorable effect upon securities prices by at
tracing renewed active speculation. 1t certainly
seems though the next decided movement IN
tie ma rket ought to be- upward. ana TINS despite
the Cuban question. which is likely TO come ID n
head at any minute. II l. unreasonable 10 SUP
pjse that an armed conflict hetv etn the united
Stats and Spain would be the outcome or the
vtole matter and il Is still more unreasona bic
" think that A war between TIE Two countries
Would lessen the actual worth Of railroad securl-
tfs. There are practically no flnancial relations
between the United States and Spain, ana IL
would be a sorry spectacle IL see home investors
and holders OF stocks selling them even on an
actual outbreak Of hostilsics. which, OF course.
~ rot In the region OF PROBABILITIES SPAN mas
mue ~ our securities 10 sell
Prices for the last sales Of the principal active
accks to-day compared with the maj hgures
" Yesterday, follows