The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-11-23
BANKS WILLPUT Up
GOVERNMENTS NEW LOAN MORE
THAN BID UP ALREADY.
Arrangements TO Obviate n Draw on
the National Treasury-ShSres
Open strong i'll sympathy With
Foreign Market-Become Unset
lied, Close Kesvy.

NEW YORK, Nov. 22.-Subseriptions for
| an amount greater than the entire issue
OF $50. 000, 600 Of government tives will be
! made by n number OF banks and other
/ financial institutions of this city, includ-
| Ing some foreign capital. This WIS de-
| cided today after number OF conferences
and IL was settled also that the mem bers
of this agreement should make their bids
separately, but at exactly the same price
| This action insures the success of the Joan,
which is now certain To be over SUD-
scr,bed. The figures which bankers in the
| agreement will Did for bonds : not made
public. hut i, is understood that II
will allow good profit 10 the
government Some of the banks who hold
the largest gold reserve have agreed TO
furnish gold 10 Subscribers 10 the loan u
the amount of $50 COG. 000 and other banks
announced that they will supply their
customers with MI the gold they may need
for the purpose OF the loan, without draw
ing upon the United States treasury. Gold
is being shipped from San Francisco and
other cities of the MON and from Canada
I TO his city for the account OF intending
subscribers to the loan, s. .O00, 600 alone
coming through the Bank OF Mon
treal. l. is 70 be seen from this
! that the situation is Frightening
and IL is fair TO assume that as
a result of the loan the treasury gold re-
serve will be brought M 10 or very near
the Sl00. 900 Geo IusrK. Mo- until about the
close of business on the STOCK exchange to-
day were the circumstances made public
and the current speculation was not in
fiuenced thereby.
AT the opening of business the share
market WAS strong in sympathy with the
improved tone of American securities on
ne
eign buying of the international stocks,
both of which facts led 10 a covering
movement on the part of the shorts
and sent prices upwards fraction, the
Changers joining in the procession.
The market, however, had not recovered
from the shock of yesterdays scaling OF
the Burlington dividend and the conse
quent break IN prices. aud the advance OF
this morning was not maintained for
long. \ reaction followed in which the
gains were almost entirely lost. and
throughout the day rhe trading was irreg-
uiar recoveries and declines following
each other in rapid succession up 10 the
close, which was marked by depression,
the final trading being quite heavy in
tone. The Changers attracted the chief
speculative attention and were very largely
dealt in. bnt huctuated within a much
narrower limit than yesterday. Burting-
ton rose y per cent, reacted q PER cent,
per Ccut. C''slHN =. per Ccut
below the highest, and 81 per ceOt up on
the day. St. Paul moved within range
of q per cent -nd shows a gain OF q per
on tue day. Northwest advanced per
cent bur WAS attacked by the bears ou IN
fsvora bic reports as the Forthcoming di-
vidend, whirh it is claimed will have 10
! BE- scaled rs have Rock Island and Burl-
ington. Heavy selling caused a break in
| stock of ~ per cent. with rally of per
cent. of which y per cent WIS lost AT the
close making decline of e on the day.
Rock Island sold no * cent and reacted
Is per cent, closing = per cent higher
than on yesterday. Sugar re-
coded 7 per cent, advanced "a per cent.
broke 215 per cent on clique selling with
only rally of Is per cont, showing het
loss of 2J5. The preferred is down 4 per
cent. Pullman broke 5J53 per cent on the
| liquidation of block OF stock at a time
when there We're no supporting orders;
sales of the stock We're made At 15l5S per
cent seller, Ag ,inst 15S per cent regular
Cordage common fell OFF II per cent but
recovered per cent
The bond market YVES generally firm
during the day. The Atchison- issues
were heavily sold and betrayed weakness
but in the final dealings they scored a
slight recovery. Those securities figured
for s596,OO0 in the transactions out of a
total OF s., $50 900 for the day.