The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-25
TONE WAS BU0YANT
SITUATION IN SECURITIES PROM
IsES REGENERATION.
London IL Very Much Less of q Factor
Light Selling for that Account But Lit
tie Help From that Quarter is Expected
soon-Day Develops n Com 2licated hiniS
In the Sterling Exchange Situation
Market Opens Active and Strong, Ad-
vances Ensuins-ClosinE Strength FOX
lows n Deciine-Forcign Exchanges


vsnces Ensulns-ClosinE Strength FOX
lows a Deciine-Forcign Exchanges
New York, Dec. 24.-Today's stock
market feu somewhat below the total
OF yesterday but business was well dis
tributed and the tone was buoyant-
London was much less OF factor than
on Monday, bu< there was compare
lively light selling for that account
Important buying for London Is not
looked for in the immediate future, as
the snort interest al that center has
been practically eliminated and inves-
tors are deferred from this market by
miSgivings as TO our currency outlook.
The features of today's local trading
were the purchase by large houses
with Washington connection, due 10
expectation of an impending issue OF
government bonds on a basis satisfac-
tory TO the, treasury department, and
the gratifying results OF the timely &C
ton Of the clearing house committee in
preventing distressing rates for money.
Although some call loans were made at
9 per cent the bulk Of the business was
done al 8 per cent and transactions
eral at per cent The market proved
superior 10 the sharp rise in the sterl-
ing exchange market. partly owing 10
the great disparity between the
amount of the actual engagements OF
gold for shipment tomorrow and the
previous extraordinary estimates. II
was attempted 60 be explained that the
export should have been much larger
but for the difficulty experienced by
would-be shippers OF the yellow metal
in securing legal tenders. This condi-
ton prevailed 10 a very moderate eX-
tent AS a matter OF fact, foreign
bankers are disinclined TO sell exchange
to a large amount where the gold is re-
quired TO be shipped three or four days
ahead, because in the event of clearing
house loan certificates being used. the
banks where they deposit their checks
would receive for their credit, loan Ger
tificates instead of legal tender notes.
The loan certificates could not be paid
over TO the foreign bankers and the
banks would not be willing to pay in
legal tenders out OF their own stock,
as their reserve would soon be ex-
hausted-
The market opened fairly active and
firm and soon became generally strong.
advances being extended in some in
stances to per cent About IL o'clock
reactions occurred on the sharp ad-
vances in actual and posted rates OF ex-
change. The losses were soon recov-
cred, heavy purchas IS by the shorts
turning the scale. The upward tend
ency was thereafter maintained as a
rule, the highest figures OF the day be-
ing reached between l and o'clock
The appreciationS at the extreme point,
as compared with last nights closing
prices are: st. Paul and Omaha pre-
ferred and Wheeling and Lake Erie
preferred AZ per cent; Rock Island and
Consolidated Gas Az per cent: Della
ware and Hudson 4 per cent; Sugar
3B per cent: Bay State Gas 3%4 per
cent: Chicago Gas and Iowa Central
preferred 81 per cent; Denver and Rio
Grande 32s per cent; St. Paul and
Cincinnati. Cleveland, Chicago and st.
Louis 81 per cent; Hooking Valley S1s
per cent; Canadian Southern, Lake
Erie and Western preferred, Louisville
and Nashville and Lead preferred "a
per cent; Northwest 2Ss per cent; Burl-
ington, Missouri Pacific. Southern pre-
ferred and Tennessee Coal 21A per cent;
Kansas and Texas preferred and New
Jersey Central 212 per cent. The best
figures of today record gains from the
extreme panic prices OF Consolidated
Gas per cent; Lead preferred u per
cent, Pullman IL per cent, Rubber pre-
ferred and Rock Island 10 per cent:
Cincinnati, Cleveland. Chicago and st.
Louis 90 per cent; Alton and Terre
Haute, Chicago Gas, Delaware and
Hudson. Tobacco and Wheeling and
Lake Erie preferred per cent; Lake
Erie and Wetern S94 per cent; New Jer-
sey Central s4 per cent; Lead and
Manhattan S per cent; Sugar and Dis
filling rs per cent; Canadian Southern
ia per cent; ST. Paul and Burlington
~ per cent; Kansas and Texas prefer
red and Louisville and Nashville Il.
per cerst. Around delivery hour there
was disposition on the part Of the
traders TO take profits on the advance.
and a sharp slump resulted in which
the grangeTs. Manhattan. Chicago Gas.
Tobacco, and Cincinnati, Cleveland.
Chicago and S. Louis were most con-
spicuOus. The pressure was soon over
and the upward tendency was resum-
ed. the market closing stronger.
The total sales OF stocks today were
s41, 4ls shares. including: American SUI
gar $500; American Tobacco 1900;
Atchison Il. 400; Burlington II 200; Chi
cago Gas 1850: Distilling 1900; Gen
eral Electric $500: Kansas and Texas
6, 500: Louisville and Nashville 10 500:
Manhattan $500: Missouri 10.100: Sus-
quehanna and Western 1000: North
west 1900; Pacific Mail 800; Reading
5. 800; Rock Island $500: ST. Paul "a 500:
Southern rallrcad $500; Southern rail-
road preferred 500: Tennessee Coal
and Iron 1880; United States Cordaze
5. 900: United States Leather preferred
6. zoo; Wabash preferred $500: Western
Union 1890; Wheeling and Lake Erie
10. 500.
The appearance OF heavy purchasing
orders for investment caused a sharp
advance IN the railway and miscellane-
Gus bond market throughout the day.
The transactions footed up 32,37s. 90.
The more important net gains are
Pittsburg and Western firsts Al pr
cent: Rock Island extension fives and
Chesapeake and Ohio A. =. AZ per cent:
Northwest debeature hyes OF 1871 per
cent Oregon Short Line consols, trust
receipts = Per cene; Oregon Sh0Tt
Line sizes "a per cent; Oregon Short
Line trust receipts 2iz per cent: Kan
sss and Texas firsts ~ per cent; Kan
sas and Texas seconds and Reading
fours ~ per cent; Beading truss r.
ceipts and first incomes Ia per cent.
Southern fyes and AtchiS0a adjust
ment tours "a Per cent: AEchlson f0urs
trust receipts. RIO G-ande Western
h-sts and Wabash seconds ~ D. cent
Government boads broke sharply o.
the anticipated new issue q bonds Ts7s
new S5u-s recede3 Ia Per cent and TIE
Old tO1rs per cent
FOREIGN EXCHANGE.
New York. Dec zf-The Evening
Posts London czb3ezrarn says: There