New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-27
losing PRICES OF PHILADELPHIA STOCKS
'Sales.
Monday, July 26-p. m.

Monday, July Up. m.
large volume Of business was done in the
stock market to-day total transactions amount
ing 10 49,. O34 shares The early trading showed
a decided tendency on the part OF traders TO
sell for profits. and bear operators endeavored
TO bring on substantial reaction, but
their efforts were Offset by heavy COM
mission house buying and, after slight de-
clines, a rally set in. and prices ruled strong
the greater part of the rest of the day. Com
mission houses received large Buying orders in
their mornings mail. Important interests were
again in the market, and after first prices had
been made there appeared little prospect of
material reaction. Traders believe that the ad
vance has gone far enough and that prices
ought to enjoy q reaction and few obserN-
ers Of the market are inclined TO this view. but
the majority Of good buyers evidently do not
think that prices will go lower, and as long as
the market gets this legitimate supper, values
will not he materially low cred. temporary
cessation Of outside buying will permit traders
TO cause lower prices. but unless some uneX-
pected development should present itself. the
level reached on declines cannot be much be-
low that now current. Top prices apparently
have not yet been reached. The improvement
IN the business situation which must necessa-
rily take place as the result Of the passage OF
in part, and reactions which may occur in the
future should reflect nothing but speculative
0anpuVrine
London did not continue buyer of stocks in
this market to-day, and the cable reported that
London operators were disappointed because
the Senate had failed TO pass the currency bill
adopted by the House If London sold for this
reason, II showed the same poor judgment that
mas charac teriZed its operations in this market
during the summer. but 1t is probable that its
selling purely speculative and due TO pro-
lessiOnal reports sent from this side on Satur-
DAY advising London operators Of probable
break in this market to-day. large number
OF local operators sold Saturday in expectation
o' a considerable decline. but some of the
largest market interests continued aggressive
ouils. and this with commission mouse buying
caused the early discontinue OF the bears. The
local interest to-day was distributed over a
arge number of issues, and while the Granger
SHARES Sugar Refining and American Tobacco
furnished over onc-third of the total dealings Il
good volume Of business was done elsewhere in
he list. EspeciaI strength was developed by
the anthracite coal shares, Delaware ana Hud-
son advancing to III and closing at 11Gi4 and
Reading second preferred TO ~. closing AT net
gain OF rs per cent. The so-called Gould shares
we're strong features and IN the Granger group
Rock Island made a new high record for the
year al SIS. American Tobacco made sem
sational advance on heavy dealings. In the late
trading and after the completion OF commission
house orders vigorous bear attack was made
on Sugar Refining, which broke over per cent
from the opening, and the movement in this
STOCK affected the general list. which reacted
from the best prices Of the day, and in many
stocks the persistent bear hammerng at the close
resulted in fractional net losses. Buying in the
Granger shares was stimulated by another ad-
vance in wheat and by further faVorabie reports
on the crops. The grain receipts at Chicago last
week were S62. 900 bushels in excess Of those OF
the preceding week. and 1857 900 bushels more
than in the same week In 1896 The chief
changes In the active list to-day we're net losses
81 AZ per cent In Sugar Refining, IL per cent
In Burlington and / per cent in st. Paul. and
net gains OF 2ss per cent IN American Tobacco,
IA per cent In Delaware and hudson and rs
Der cent in Reading second preferred The rail-
re I'D earnings received to-day for the third week
IN july showed encouraging gains in the ma
1ority Of cases. Louisville and Nashville. Mis-
souri, Pacific Rio Grande Western Texas and
Pacific, Baltimore and Ohio southwestern,
Chesapeake and Ohio. Denver and Rio Grande,
Kansas City Pttsburg and Gulf and Chicago
Indianapolis and Louisville made particularly
favorable reports.
Prices for the last sales OF the principal stocks