The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-13
BETTER NEWS CANE
STOCK MARKET INFLUENCED, A
BEFORE, FROM ABROAD.


Actual Sterling Exchange Rates Re
daced and Cotton Bills In Greater
Amount-RAflroad Earnings Increase
Prob.ble-fiiIal Sales ut Top Figures
New York. Nov. 1.-THE key note TO
the speculation today came, as usual
recently, from abroad. The earlier ca
bles from Europe reported some unea-
siness as to the fortnightly settlement
In London, which began today, the
British consois and prices for Ameri-
can securities at the center came low
er. Later advices were more reassur-
ing. London had not been a seller in
this market and the appearance OF ex-
porting orders here at the early frac-
ticnal recessions that were recorded.
together with the prevailing belief that
no further gold exports would be made
until Saturday at the earliest, stimu-
lated pronounced rally all around.
The latest London Aews reported a re-
coyery in Americans and this gave fur
Their impetus to the upward movement.
The volume Of business showed i'm
provement over Mondays record and
uted. with the grangers and industrials.
as groups, leading in point OF activity
anil extent of fluctuation. Covering of
shorts was the main spring OF the mar
ket movement. but there was also fair
buying for the industrials long account
and also for certain pools. Favorable
influences. not elsewhere noted, includ-
ed a reduction on actual sterling ex-
change rates and reports OF increased
offerings of cotton bills. Leather stocks
were helped by denials OF alleged recent
further cuts in union tanned sole leath-
er. The argument employed in favor
of ST. Paul and others of the grangers
was the proba blity OF continued large
increases in the earnings this month
from the active movement of wheat.
There was no actual news regarding Pa
cific Mail, but gossip Of a probable
speedy establishment OF friendly rela-
tons between that company and the
Panama arilroad was made 10 pass cur
rent In explanation Of a rally in the
first mentioned stock. No confirma-
tory details were forthcoming. In view
OF the general advances recorded, spe-
cial reasons for the various movements
would, however, appear to be superfiu-
Gus. The gains at top figures extended
in the active list to 81 per cent in
Leather preferred. The other more con-
spiciousiy strong stocks were Chicago
Gas, Rubber common and preferred,
General Electric, the grangers. coalers.
Southwesterns, Louisville and Nash
Vile, Tobacco, Cincinnati, Chicago and
st. Louis and Tennessee coal In the
inactive stocks. Minnesota iron rose Ga
per cent and Metropolitan Traction, on
the rally in traction stocks in Philadel-
phia. jumped 5 per cent. more than re-
covering yesterdays decline. The final
sales were at the top figures of the day
and the market closed buoyant IN tone
and at substantial net gains.
Pronounced strength was apparent
in the speculation in railway and mis-
cellaneous mortgages today. The i'm
proved tone was due TO the hopeful
financial situation abroad. The trad
ing was quite brisk, the sales aggre-
eating s., 1S0, 900. The more conspicuous
gains We're: Savannah and Western
frsts, trust receipts pa per cent: Oma- |
ha and ST. Louis firsts, trust receipts |
21s per cent; Ohio Southern firsts and |
Ohio railway firsts; Detroit, Monroe |
and Toledo firsts IL per cent and LOU /
isli devnaloa ?aa:t
isville and New Albany consols. Read |
ing flrstS incomes and Oregon Improve |
ments firSts l Y per cent. Oregon Navi- |
CATION fives trust receipts reacted per
cent and regained half of the loss and /
Detroit, Minneapolis and Minnesota
conSolS are down 4 per cent
Governments ruled strong on trans
actions of $3.50
Trade in state mortgages amounted TO
S, 900 South Carolina AS