The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-04-18
PHILADELPHIA CLOSING QUOTATIONS..
SATURDAY, April II,

April IL.
The collision between armed forces on or near
the boundary line of Greece and Turkey has
affected all commercial markets this week.
There have been other considerations affecting
the prices, but their influence has beer moro
restricted. For example, reports OF the en-
barrassment of a large operator In African
mines, the foundation for which IL Is impossible
at this distance to determine, have depressed
the speculation in Kafirs. both in London and
in Paris, and have to an extent unsettled the
market for other securities at those centres.
Fears of heavy Withdrawals of gold from
London by Japan on account Of tho Chinese
indemnity have also been n factor Of some i'm
portance in European financial markets. OF
local developments the most important is the
announcement Of the plan for funding tho
maturing bonded indebtedness of the New York
Central Railroad Company. 1t had, how
ever, little or no effect upon the mar
ket for securities. Still another incident
worth mentioning is the progress that has been
made in the Illinois Legislature toward giving
various corporate interests, among them the
Chicago gas companies, the legislation they de-
sire for the purpose of conserving and extending
their respective lines Of business.
The Street continues to dwell upon the unfor-
tuuate character OF the decision Of the Supreme
Court In the Trans-Missouri Traffic case. and at
Lux bhLhC tiAlo q Booou Voi VI IL lolu upOh
the protracted tariff discussion. 1t Is q question.
however, whether all Of the circumstances
enumerated are not subordinate to the ono first
mentioned, namely, increasing prospects Of q
European war. Although the exports
Of wheat and breadstufs have not been
heavy this week, the price of wheat has adj
vanced materially. and at the same time there
has been moderate yet effective selling of securi-
ties by Europe. This last, together with un-
usually heavy imports of merchandise, caused
by prospects Of higher customs duties. has
strengthened the foreign exchange market.
which closes at the highest prices recorded this
week and also for a long time past.
The tendency of the foreign exchange market
has already started a discussion as to the proba-
bility of exports of specie in the near future.
Upon this point 1t is exceedingly interesting to
note that foreign bankers are In the main averse
to making shipments at this time unless ex-
change should rise to figures that would insure
a fair profit on the transaction. They argue
that the abnormal imports of merchandise arc
about over, and that should a European war
occur exports Of breadstufs and other food
| products would speedily Offset tho speculative
selling OF securities by Europe, in which case
exports OF specie. for which the Treasury and
the banks Of this city are amply prepared, would
not become important in volume and might
speedily be followed by q return Of the gold to
this country.
Trade reports contain little that Is encourage
ing. Business Is held In check by the tariff dis
cussion, by the weather. particularly In the Mis-
sissippi Valley. by the political situation
abroad. and also by the feeling OF depression
caused by the Supreme Court decision in
tho Trans-Missouri traffic case. The trad
ing in stocks has obviously been within
very narrow limits. The moro substan-
tial ipfereata both In md nut NJ Wall utraat oro
waiting for the situation, both here and abroad.
to become more clearly defined. as 1t doubtless
will within the next sixty days. Within that
period some tangible information regarding the
crops will DO obtained and also the probable OK
tent Of the demand for staple products. Tho stock
list, with only a few exceptions, is lower than It
waslast Saturday. The declines, however. are not
of great magnitude. averaging for the so-called
active shares something less than Q y cent. The
dealings have not been large, averaging about
10000 shares a day. The falling of in bust
ness has been more pronounced in the bond de-
partment, where the transactions have averaged
only $500, 900 par value per day.
To-day's market was weak throughout, with
Chicago Gas, American Tobacco. and New York
Central sustaining the greatest net losses, which
were approximately l y cent. The pressure
to sell was not pronounced, but the absence
Of support was moro conspicuous than
usual. owing. probably. TO the holiday char.
acter of the market. A little Encouragement
was derived from tho bank statement, because
1t shows. for the first time In a number of weeks.
an increase In the loans. Coincident with that
increase, tho banks have gained In lawful
money q little more than they expanded their
loans. These two changes are reflected moro
accurately than usual In the deposits. The net
result Is an Increase In the surplus reserve of
nearly $500. 900. The final prices for stocks
were fractionally above the lowest recorded.
As compared with the final prices OF last Sat
urday the list 10 lower. with the exception Of
New Jersey Central. which was q y cent. higher.
The more important net declines are In Denver
and Rio Grande preferred and Tennessee Coal
and Iron. 2os y cent. each; American Sugar Re
filming. 2is; Chicago Gas and Northern Pacific
preferred. lie each; American Tobacco. North
west, and Louisville and Nashville. 1la each;
Atchison preferred. Omaha, and New York Cen.
trial. Ia each; Kansas and Texas preferred.
Northern Pacific preferred, Southern Railway
preferred, and Western Union. lie each; Rock
Island and United States Leather preferred, /
each; Cleveland, Cincinnati. Chicago and st.
Louis. q; st. Paul and Pacific Mail. y eachi
Consolidated Gas and General Electric. q =
cent. each.
Final sales compare with those of Thursday
as follows:
Aprn lb.Apra I'LL ADra 10. ApraI ~.
A.TAsFs, 10 eS Cent. 9pb %
A.T&sFsp 1871 leh N Cent. 77s IT
Am s Ref lila lllS Omaha com 6sh b7Ss
Am Tob.... 72 II Pac MAIL. 26S 2es
sklyu UGaslo3s 1894 Pull p caT..lbeh lbe
c.o.c&stL go ESS Rock Island e GIN
o., 71Anf M ReAdinK...s l8A 18ls