The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-03
SENDS STOCKS UP
SHORTS COVER IN INDUsTRIALs Al
A LIVELY RATE

Sugar. Chicago Gas and Other Oversold
| Shares are Partakers In the Movement
| Insiders are supposed to have . Straight
Tip from the Powers that Bs-Gold Sit
uation Being Less Alarming. Assists the
streagth of the Market-R.iiways have
Little Cause for NEUTRALITY-SUSPICIOUS.
Close Firm In Lo.don Foreign Markets
New York. Dec 2-Lively covering
Of shorts in the industrials was the fea-
ture Of today's speculation and re-
suited in a strong market for that
group. The railway list was relatively
less active as whole. and was ham
pered to an extent by an abatement OF
the demand from the shorts. and by
foreign selling OF the international
shares and especially St Paul.
The market showed no improvement
as 10 its professional character. There
wer, but few developments bearing d.
rectly upon the speculation. Denver
and Rio Grande was helped in price by
the Cripple Greek mining excitement
The statement OF the company's opera
tens for October was also favorable.
The exhibit Of the Louisville and Nash
vile for the same months did not ex-
ert sustaining influence on the stock
although substantial increases in earn
irgs were reported. In Sugar the hand
OF the most important insider in the
property was believed TO be manifest.
1t was aggressively strong throughout
and inspired hurried march TO cover
. - - l.
other oversold shares, and especially
Chicago Gas The raise was attended
by allegations OF foreknowledge by
powerful manipulators that no serious
legislative attacks upon the industrials
are impending in the near future. The
marke. was strengthened too, by the
encouragement of gold for shipment
on Wednesday. although this may be
premature argument A German-Arn-
erican banking house il expected 10
engage $500. 200 to 81 900. 900 in bars to-
morrow.
The market opened dull and firm.
Pronounced strength soon developed in
the irdustrials while the railroad list,
led by he grangers, improved fraction
ally. Toward the end of the first half
hour an effective raid on the grangers
resulted in declines of per cent or ov-
er, Rock Island and Burlington sus-
tair ir < the greatest loss. The general
market yielded fractionally in sympa-
thy. After midday. Chicago Gas be-
came conspicuous by a rapid rise OF
about per cent. This was generally
rega rded az a squeeze OF shorts. In
the mid-sfternoon. realizing sales were
resro rsible for the loss of a considera-
bic part of the early improvement in
the industriais. Sugar was again put
forward as leader by the bulls in the
last hour. and the price was marked
up to Is per cent, net gain OF 3s per
cent Chicago Gas left off 2S per cent
Tobacco ~ per cent and Leather pre-
ferred Is per cent net higher. Specu-
lation left of strong for the industrials
aud s.eady for the railroads. In the
last class. hut few important changes
occurred Denver and Rio Grande
preferred held a net improvement OF
IL per cent and Lake Shore OF rs per
cent.
Bonds ruled dull and irregular. The
sales amounted to $4,000. The prin>
cipal changes are: Advances-Omaha
and St. Louis firsts trusts 2ls and
per cent in ST. Paul guaranteed sew
ems and Western Union collateral fves.
Declines:-Cedar Rapids, Iowa Falls
Paul II and D division fives IL per
cent and Duluth. South Shore and At
lantic fives and Louisville and Nash
vile y and d division seyens l per
cent.
New York, Dec. 2-Evening Posts
financial cablegram:
London-The stock markets opened
dull today on the political situation but
improved later, consols leading the rail-
~ The closing was steady 10 firm.
Americans opened weak but closed bet
ter on New York support.
Paris-The settlement Is proceeding
sa tisfactorlly and the bourse closed
firm.
Berlin-The markets were steady
here today.
Berlin. Dec. 2.-Exchange eight days
sight 20 marks. 4s1z pfennings.
LOANS AND CLEARINGS.
New York. Dec. Mooney on call
easy at 1hG2 per cent; last loan per
cent; closed 21z per cent. Prime mer-
camille paper 3%Q5 per cent. Sterling
exchange firm with business in bank
ers bills at s4.ssqk for demand S4s72.
G4ss for sixty days. Posted rates
81 ssh@490; commercial bills ASsh4
a. Silver certificates 67AQ4. Bar
silver 81.
New York. Dec. 2.-Clearfngs ;ss. 1885, |
459; balances 81. 357. 1853.
Boston, Dec 2-Clearings sl5.s14.s3s; |
balances S2.555, 465.
Baltimore, Dac. 2-Clearings S2.zz3,-
7es; balances s34o.s30.
St Louis, Dec 2-Ciearings 81 ses,-
800: balances $751; Money 5g7 per
cent