New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-19
CLOSING PRICES OF CHICAGO STOCKS.
Thursday, February Tsp. m.

The stock market is so narrow and profess
sionaI that marked Improvement. in railroad
earnings fails to influence values. Traffic re-
turns throughout the country beginning to
show most encouraging gains over this time
last wear and OYER the year before that, and
when il is remembered that the returns at this
neriod In 1896 were unusually good there is ade-
ouate cause for pronounced cheerfulness over
c,.rrent exhibits of railroad earnings. The value
Of railroad earnings to the public In general lies
In the fact that they are accurate indicators Oh
trade conditions. and among investors in the
bord market an appreciative realization OF the
Improvement in the railroad business is reflected
in a steady absorption Of railroad mortgage II
sues. Noteworthy increases over 1896 and 1880
were exhibited in a number OF railroad state
ments received to-day for the second week in
February. OF twenty-five companies reporting.
eighteen showed gains. as compared with the
corresponding week year ago. OF SZV3,-o', ana
four losses of SoO.63I the greatest improvement
being made by Chesapeake and Ohio, Baltimore
and Ohio Southwestern Canadian Pacific. Kan
sas City, Pittsburg and Gulf, Lake Erie ana
Western. Missouri Pacific Ontario and West
ern. and of Mexican roads by Mexican Centrai
and Mexican National This improvement GER
tainly foreshadOws a marked change III the
ccuntry's industrial activity at no late time. ana
already reflects n gradual business growth ana
expansiOn in all parts OF the Nation Buyers oi
bonds both on the Stock Exchange and over the
counters in bankers Offices show no lack OF con-
6dence in the resumption Of business on con-
servative and prosperous basis, the enormous
accumulation Of various classes Of railroad bonds
in tho last month affOrding the best evidence OF
the faith CT investors and capitalists IN the nut
ure welfare OF the cOuntrys railroads..
AS already noted trading in the snare mar
ket furnishes no reflection OF the improvement
in railroad earnings. but AT the same ''tle ~
provides no evidence OF uneasiheSs among hoiu-
ers of investment stocks and no Incubation. ne
yond that induced by manipulation among pro-
fessional operators. In tO-days market the pio-
fessional character OF TRANSACTIONS was pro
nounced, traders choosing 10 operate lof io"ei
prices on the political uncertainty tproan
the ONLY exceptions to the general weak
ness being in the Industrial STOCKS, IN Nhicn
small advances were MADE on uaoms y.
those generally identified with the lnnustr'il
manipulation Hooking Valley was igain
conspicuously weak feature on continued IN,
favorable reports about the companys fnanclai
condition. Reports were circulated that soiiie
ARRANGEMENT would be made by Wnicn the c'u.
mons on the company's per cent ponds aue
Ma rch / would be brought up. but they lacked
and the stock and bonds were 500
down on the general belief that as yci the co'i
many had been unable to secure the ahoun, y,
rmonev-S221 OOO-rcQuired 10 meet the March
no vments Anthracite shares were again ioNrr
On hear attacks following renewed weaknssS '
7 ehigh Valley on the Philadelphia EXchabsc.
As TO the movement In TINS stocn, ,nefe e.. DO
=" no no reason, except bear selling, for us ue
.yne the current attacks apparently being pasTd
mon some recent selling or long s'och' ioi
20 cons hest known TO the sellers but IN no "ay
onnac,ed with the financial condition or me
unarty as there is nothing wrong win the
rnn,nanv nor il II In need or money 10 meet .ne
...,n.s. due on it's bonded debt on March j. inc
total amount OF business In all STOCKS a'''o""'eA