The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-14
THEY'RE In AGAIN
INDUSTRIALS TRY HARD TO MON
OPOLIZE THE MARKET.


Leather Preferred. In Its Turn, Leads the
lndustriAis in Point of Volume of Trans
actions, Furnishing Ons-Third of the
Total Dealings, and Closing with its
Five and One-Eishth Per Cent Advance
Heid-Baitimore and Ohio Again spe-
cially WeAk-2xcific Maii-Panama De-
velopments-Bonds Firm and Higher.
New York, Dec. I3.-The industrials
practically constituted today's stock
market and irregularity in the move
ments was quite a feature. The entire
dealings aggregated only $4,000 shares
The dealings in Leather preferred fig
ured for one-third Of this amount, and
adding the transactions in Sugar, To-
bscco and Chicago gas, would leave
only 1900 shares for the other stocks.
Covering OF shorts was the chief stim-
illus 10 the speculation. a declining
tendency soon developed and material
losses occurred in several instances
Baltimore and Ohio was again CON
spicuously weak. dropping 2A per cent
on selling for both accounts The con-
sensus OF opinion in conservat tive cir
cles is that in view Of the persistent
and singulsrly definite attacks upon the
credit Of the company. the manage
ment should not content itself with
vague generalizing denials. In the
general market a firmer tone became
2y-iiAuf h-.f0ra tina end ar first hour
and a strong rally started under the
leadership of Leather. That stock
rose per cent and the preferred SIS
per cent, both retaining the improve
ment 10 the close. The strength in the
stocks named inspired sympathetic ad-
vances in the other industrials, extend
ing TO per cent in Tobacco. Govern
ing by belated shorts in Manhattan re-
suited in a gain Of IL per cent The
movements in the standard railway
shares We're confined TO fractional Inn
its. A report which was in circulation
10 the effect that the long expected
agreemnt between the Panama railroad
and Pacific Mail companies had been
actually signed by Presidents Sim
mons and Huntington, caused an ad-
vance OF about a point in the stock of
the last mentioned company. which was
subsequently lost upon the publication
OF denials. Long Island moved up 2ia
per cent on the report of the purchase
OF the property at foreclosure sale by
the reorganization committee. Buying
set down to Boston accounts, caused
a rise in that stock OF per cent. On
the othe-' hand Cleveland, Lorrain and
Wheeling attracted attention by a |
break OF 31s per cent ard a later rally |
"a "a ~
were unexplained. Consolidated Gas |
sold up 21s per cent, to 1914 per cent. |
the best price of the year. on the reit- |
Grafton OF rumors of consultations, |
stock dividends, etc. The final price |
however, showed only fractional i'm |
provement over yesterday. The mar |
ket closed moderately active and strong |
in tone.
In general the market for railway and |
bonds ruled firm and |
higher on transactions aggregating ST. |
49,, 900. The more important changes |
were: Advances-Baltim0re and Ohio !
firsts 2 per cent; ST. Louis /
and San Francisco consol As % per |
cent; Chicago and Northern Pacific first |
trust receipts. st. Louis southwestern !
seconds and Union Pacific sinking fund |
Fights IL per cent. The chief decline !
ceipts 315 per cent.
STOCK REVIEW |
New York. Dec. 13.-Bradstreet's FL
1ancial review says: While narrow
and professional, speculation in the
stock market has not been without fea-
lures OF decided interest Dizziness
has, indeed, prevailed for the greater
part Of the week. but II was broken by
Incidents Of sufficient Importance TO
produce temporary activity in certain
portions Of the stock list. particularly
n the industrial group and the coal
-tocks. The railroad shares have on !
ne whole been weak and showed a de
,ided tendency to sag lower. Appre-
tensions that congress may pass no
measures 10 remedy the existing cur
ency and financial troubles. and that
ne existing situation Will drag along
or considerable time. were partially
'ffset by belief tina; the treasury will
ssue bonds 10 replenish the gold re-
erve II necessary. irrespective OF what
Congress- may do or leave und0ne. The
act that foreign exchange has been |
weaker and that the exports for the
week amounted TO only 81. 900 900. was
lso not without a reasSuring influence. |
Europe took little or no part IN The
1
re all fat and more or less depressed.
rise in discount rates at Paris. Ber-
n and other centers, coupled with the
act that the destination OF the specie
xported this week is for Germany, Gre
ties an idea that Russia or some other
over * attempting 10 draw gold from |
his country rather than to take IL from /
.ondOn, leaving II uncertain whether !
ne specie outflow VIII not continue
ext week. The public here has been
ractically out OF speculation this week
kept during the liquidation in the in
caused by the rapid decline
American Tobacco stock. This in /
dent. indeed. absorbed the attention |
the street during the early part Of
De week. and had depressing effect /
pom the general market. The recoy-
" n the industriais which followed I
ided IN steadying prices 10 some ex-
mt. and the close Of the week was de-
oted 10 a bullish movement in the |
aiding coal stocks. which seems pre-
zratory 20 the announcement OF the !
eading reorganization plan. which Is
, De brought out next week
GENERAL Markets