New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-06
CLOSING PRICES OF CHICAGO STOCKS.
Chicago. March 5. 1897.
Yner fl.-taY.
sEx-dividend.
Friday. March 5-p. m

Friday. March 5-p. m
The suggestions contained in President No.
Kinley's Inaugural Address. II carried out, viii
give this country unparalleled prosperity No
man OF intelligence doubts the successful full
fllrnent Of the promises OF the Republican party
as presented 70 the people in the Presidents Ad.
dress No person in the enjoyment OF his faculs
ties doubts the intentions OF the Congress
elected last fall. which will sit in special session
on March II. to work TO the best OF It's abilities
for business revival and expansion. The con-
servative utterances OF the President upon tho
currency question will meet a hearty approvas
among all business men, especially as he believes
that in accomplishing changes In fiscal laws
strong commission should be appointed on lines
similar 10 those recommended by the great body
OF business men as represented by the New-York
Chamber OF Commerce. But like all business
men, the President believes that adequate reve-
nue. to meet the countrys obligations should %
the first consideration Of the new Administration.
No former Inaugural Address contained sugges-
lions Of more Importance 10 the business inter"
ests OF the country and II the appointed servants
Of the people enter into their work with the same
spirit as characterized President McKney's Ad.
dress the business men OF the country may soon
forget that an American President ever had .
Congress on MS ndnus wan Sreet - uoS
booming" and fortunately. No one cares 70
see an artificial boom In stocks. The market can"
not be benefited by overstimulaton. and the In.
terests OF legitimate business cannot be served
by speculative demonstrations.
A gradual absorption OF railroad bonds has
been in progress for a long time and ii is proba-
Bile that similar absorption will begin In stocks
as soon as the good effects OF the change In Ad-
ministraton begin 10 be reflected in general bust.
ness Already there has been a more encourage
ing appreciation among investors OK the value Of
American railway stocks; and the TACT that re.
funding operations are likely TO become general
in the next few years has had a pronounced Ell.
feet upon the stocks Of all hrst-class railroad
companies, as the gain which VIII be made ~
refunding on lower interest basis VIII naturally
accrue TO the profit OF the shareholders. Follow.
ing the Lake Shore refunding operations, an
nouncement was made this morning or an arr
rangement by which the Reading Railway COM
pany will extend the old Reading u per cent I'm.
provement bonds. due this year. on per cent
basis for a period OF fifty years. the saving on
+, he difference In interest from that now prevail
ing amounting to S1S1.2SO year. Reports that
tn New-York Central was also considering re.
funding onerations on issues which mature early
in 1Ms) led to q marked buying movement In
New York Central stock to-day. and maximum
advance OF IL. per cent was made. while the net
gain above yesterdays final price was per
cent. II was also announced that a contract had
haen closed with the St. Louis, Iron Mountain
and Southern Railway Company by which the
ors, and second mortgage bonds OF that com.
nanv-x4 OGO 900 3 per cents and S6.OO0.0OO per
rents-would be extended from their maturity.
Nav l. IT Al per cent for the first mortgage ana
Der cent for the second. to run Tor psriod q
nifty years.