The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-27
SHARP RISE TAKEN
STOCK MARKET CONES OUT STRONG
AFTER THE HOLIDAY.
Expectation of New Issue of Government
Bopds Is . Factor for Strength, and is
Aided by the Return of Money Rates to
Legal Figures and Favorable Railway
Earnings keports-Drict and Counter
Bond Issue-Cuban Movements Cause a
Rise in Sugar shares.

New York, Dec. 2s.-The resumption
ed by a sharp rise in values in the early
dealings on the Stock Exchange- The
confident tone was mainly attributable
to the expectation that the treasury viii
be strengthened by an issue OF govern
ment bonds. In the best informed OF
the financial circle, these views find ac-
ceptance. but thus far the only people
whose statement would carry and con-
viction are mute on the subject
Ii is not believed that a strictly gold
bond bill can be got through the senate.
and accordingly the impending issue
viii be under the same authority as the
last two. Reports Of any present or
recent offer by Russia 10 take our gov
eminent bonds. or loan gold 10 the Unit
ed States treasury, are authoritatively
denied. Other favorable Influences
were money rates at the legal figure.
and favorable reports OF railway earn
ings for the third week OF December.
The S.. Paul for the period mentioned
shows an increase in gross earnings OF
SS91. 654 and net $667672- These fac
tors caused a decidedly improved senti-
ment, resulting in advances in the gen.
eral list OF from 1 TO per cent. with all
the leading stocks participating. An
extreme rise OF AZ per cent in Lacka-
wanna. in the face OF a demoralized
market for anthracite coal, due TO the
unreasonable weather. was set down 20
the covering of short contracts. No
quota tons were received from London.
owing to the extended Christmas holi-
day at that center. but foreign buyers
orders were executed on this market 10
a moderate extent. The upward move
ment came 10 a halt soon after the ex-
piration OF the first hour. and in the en-
suing dealings sales were recorded at
figures close TO Tuesdays final prices.
In some instances the transactions
were noted below that days closing,
particularly in Reading. Burlington,
Manhattan and Leather preferred. The
reactionary movement was on selling
for both accounts. a sharp recession
occurred in the rates of sterling ex-
change on the sale of gold bullion and
TO revived talk Of gold exports by Sat-
urday's steamers. Up 10 the close or
business, no engagements had been
maed. however. No applications for
loan certificates have been made or are
expected to be received from the banks
or by the clearing house committee IN
til after the close Of the year at the
earliest. The pressure to sell subsid
ed around delivery hour and under the
leadership of Sugar prices took an up
ward course. The improvements, how
ever, as rule, did not exceed fractions.
Sugar was in brisk demand in the final
dealings and rose TO 10311 per cent, a net
gain of 35s per cent The rise was
credited to an advance in the market
for domestic refined sugars, and TO the
alleged proposition OF the Cuban revo-
lutionary leaders to destroy the sugar
crop Of the island. The closing was
qniet and steady at slight gains in most
cases.
In the bond market, the upward ten
dency which characterized the close on
Tuesday was resumed in the early deal
ingS today. Subsequently, in sympa-
thy with the reaction in the stock mar
ket, prices receded sharply, and the
closing tone was heavy.