New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-20
cr os,,c pp1crs OF PHILADELPHIA STOCKS.
Monday, April 1872. m.


With this exception Of the local market, none
of the worlds great security markets were open
to-day. the result being that the first effect of
the Greco Turkish war. so far az securities were
concerned. was borne by the local Exchange
The fact that the European markets were closed
complicated the situation somewhat as regards
securities and IT was impossible TO form any idea
Of the extent Of the war influence In the Euro
mean financial circles, although banking houses
with foreign connections were not disposed 10
expect any very serious results on the foreign
bourses tomorrow. The fear that the present
complications might involve some of the first
class Powers was not pronounced In local imam
cial circles and pending the course OF British
consols in to-morrows market no attempt
was made to remark with any feeling OF GER
tainty upon the actual effect of the Eastern war
upon the stock and foreign exchange markets
abroad. The effect upon this market should be
TEMPORARY and from to-day's course Of prices
the absence Of outside liquidation. save that by
London seemed to reflect total indifference on
the part of investment holders. There certainly
is no possible reason for holders Of American Sc
curities to be driven into liquidation on account
of the quarrel between Greece and Turkey, and
possibly heavy selling tomorrow on the Euro
pean exchanges, accompanied by aggressive bear
attacks upon the local market, should not cause
investors to make foolish sacrifices Of their high
class holdings.
There was no suspicion Of panic on the stock
Exchange to-day Prices sold off rapidly. but
trading was not heavy. except In few stocks,
particularly those with an international market
local foreign banking houses selling a consider
able amount of ST. Paul and Louisville and Nash.
vile and smaller amounts OF New-York CentraI
and Southern Railway preferred. Losses or lu
3 per cent were made by the international group
of stocks and declines in the rest Of the railroad
list were generally per cent and above. The clos
ing was unsettled and feverish at slight rallies
from the lowest prices Of the day. Strength In
the foreign exchange and wheat markets ac-
centuated the situation abroad, but the holiday
in London left sentiment over the exchange
situation uncertain and chiefly upon the uncer-
tainty felt regarding the effect OF the war upon
the exchange marker houses az rule asked
higher rates demand sterling advancing to 1854
04SS1a against 4.S1% 4.SS Saturday. The gold
export point was figured to-day by some brokers
at 1854, but at that figure, or at 4SS1a there
would not be sufficient profit in the transaction
TO induce shipments. 1t Is not at all improbable,
however that the rate for sight sterling will ad-
vance to profitable shipping point in the near
future The wheat market opened in wild dis
order to-day and prices fuctuated within wide
limits. the close being at net gain over Satur-
day of 3d5 per cent. The money market was not
affected by the influences prevailing in the Sc
curity and wheat markets.
Prices for last sales of the principal active
stocks to-day compared with the final figures OF
SATURDAY. were as follows