New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-27
CLOSING PRICES OF PHILADELPHIA STOCKS.
Friday. February 26-p

An urgent demand from the short interest
caused general advances in stocks to-day. and
final prices showed substantial net gains In the
majority OF issues. while transactions gave an
increase Of more than GO0OO shares in the total
dealings as compared with that Of vest rday
The changed character OF Cuban news was the
chief factor in the days market. but it attracted
no material outside buying, dealings in the ma
iority Of issues representing nothing more than
professional operations. Although foreign in
terest in the market reflected selling by arbitrase
houses. the more peaceful appearance Of affairs
in the East helped bullish sentiment here. the
few sales for foreign account being made to take
advantage of the advance in prices on the local
exchange. and not representing any liquidation.
The fact that European selling Of American
stocks in the last few months has exceeded the
buying has revived interest in the foreign eX-
change market, in which rates have recently
grown firmer. and at present do not rule much
below the gold exporting point. Demand ster-
ling to-day ruled at 81 S1li and long sterling al
81 SJA and the demand for remittance was a
trife heavier than that recently prevailing.
There has doubtless been a considerable decrease
in the s,Ipplv Of accumulated sterling held here
and some bankers report an inadequate supply
Of commercial bills t. meet the demand. but at
the same time they do not look for any outward
movement Of gold at this period while other
bankers do not think there Will be any gold cX-
ports on trade balance this year. The balance or
trade is still in favor Of this country, and i'm
norris Of merchandise and drygoods show no
noteworthy increase. the imports of drygoods at
this port for the week ending to-day giving Il
decrea 60 in value from last week Of S}I i.9 and
as compared with The same week year ago
a decrease Of 81 J:3}3 500. while for the year TO
date a decrease as compared with the CORE
snonding period in 1896 Of $GO6l Aga. The total
drvgoods and merchandise imports from Janu-
airy TO last Saturday showed decrease in value
from the same time last year of S36'S'"'S ana
exports Of merchandise for the week ended Feb
ruary % increase over 1870 OF S-Jo--o anu
over 1880 an liner, Of SIJO-tlb
Advances in the active stocks ran from ira
lions TO larger figures. the lnduairlalS aS run
making conspicuous gains, ana III some % wv
/ railroad stocks noteworthy net gains over yes
/ terdaV's final prices were recorded. Lake Hh"l'
/ on good buying gained ~ per cent Closing al
/ 100 the highest price ever reached anu IN. m
/ Granger stocks We're strong AT advances OF ="
/ IL per cent. There was no particular news re-
garding Lake Shore. but the buying III IL br"uE"'
OUT the report that the question OF refuhuihS
the companys high rate bonds. which soon ma
ture had been under consideration III the Ia
few days a large number or nigh grade ran
+ road bonds mature within the next three Irdi .
and II is more than likely that extensive rctuHd-
] ing operations Will be undertaken on CONSIDER =
/ ahIv reduced interest basis The general bona
/ market continues to exhibit investment buying,
! and operations to-day were moderately large al
/ advancing prices. Among the railroad earnings
! recorded an especially encouraging report was
! made by Louisville and Nashville for the thlrd
/ week I'm February showing an increase as com
| pared with the same week In 1870 or Sllo'''
| also NV the Southern Railway, which returned an
| Increase Of S24.bSl. 49,.
Prices for last sales OF the principal ac"'e