New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-27
CLOSING PRICES OF pHnADELpuIA STOCKS.
Saturday, June 26-p. m


The weeks movement In The securi;os markcta
resulted III many record prices for the year. ard
in nUrnber OF issues last years best prices
surpassed. The gain in stock market values has
been in progress for the last six weeks. IN that
TIM healthy and gradual advance has taken
place. resisting vigorous efforts Of reactOa!sts
and being based upon a good demand for securi-
ties from investors who made their purchases
with confidence in the outlook for Industrial ex-
pansion a noteworthy collection Of high-grade
properties have their securities listed upon the
New-York Stock Exchange Intelligen, inan-
ciers and capable and practical railroad men are
in control of the great majority OF railroad prop
erties Of this country and this never more
apparent than at present, contrasting with The
disasters brought about in recent years by dis
homes, and inexperienced managers OF the many
railroads which were forced into bankruptcy fol-
lowing the panic of 1898. The best men are now
in control. The fnanciers who are asked to
float the securities OF reorganiZed properties are
mere rigorous than ever before in their personal
examination of the standing Of the companies
affairs and every possible protection is afforded
the security-holder interest against repetition
of the losses incurred through the reckless man
agement Of past years. wall Street banking
houses, whose offerings of investment securi-
ties are frequently seen in the advertising
columns OF The Tribune. are firms Of tn.
highest repute. Of keen judgment and -
unbemished business character. They make
searching Investigations OF the properties in
which they are interested. and In offer
ing the securities 10 public investors they DO
with the full knowledge that the opportuni-
ties they mention based upon facts. and that
their own interest is as much at stake In Offering
the securities as that Of their intending purchas-
ers. The great banking houses in Wall Street
study the value Of securities before Offering them
for public subscription. The best legal advice is
taken upon all questions affecting the OrganiZa-
ton Of the company The best accountants are
put upon the books. and the past history Of the
company, its earning power In the past and
present, and its prospects for the future. are
passed upon. In fact everything is done which
will show the merit Of the company. and when
bankers of merit are satisfied 10 handle the Sc
curti"s, investors can rest satisfied In placing
their money. And just now investors realize the
merits Of railroad investments. and their inter
est in the security market promises to be lasting.
The end OF the week gives little evidence that
stocks will he a sale for some time 10 come.
and the majority Of brokers advise n purchase
on all weak spots. In to-days market. after
unimportant reactions caused 10y traders press
ure and realizing sales. prices resumed their
upward movement. and the majority OF issues
closed at the best figures ~ the day and week.
The publication Of the st. Paul report for May.
which show ed a gain in net earnings OF Slls.4g6
as compared with May. 1896. started the days
advance and furnished increased activity In tho
Granger shares and elsewhere In the railway
list Rock Island was assisted hy the general
belief that the company's dividend Will be in
creased to per cent. and II made a net gain
~ over per cent. advancing 10 its best price
OF the year and Is per cent above its best price
In 1896 Burlington reached SIS and ST Paul
Sla. other noteworthy strong features were
Sugar Refining American Tobacco. Brooklyn
Rapid Transit and Chicago Gas The wheat
market again strong and higher. The
weekly statement OF the associated banks
showed further expansion In loans. amounting
to So l3os0o and an Increase in cash and sur
plus reserve holdings Cash increased 81 .oN9-
500. made up by gain Of S3Joun In specie
and a gain Of 81 639soo IN lesal-tender notes.
Deposits increased S4.JG6. 100. The result OF all
the changes increase OF Ssts.2pp in sur
plus reserve TO so 30 $50. agains, .32j
this week last year. and S3i. 22j..2o In the same
time in 1890 Compared with year ago. de-
posts show an increase OF Slm,ll9..Do. and
loans an increase Of Si66S2.3oO. Deposits 1t
present are S154l30o0 above loans.
Prices for the last sales OF the principal active
stocks to-day, compared with the final figures
OF Yesterday, were follows: