The Wichita daily eagle., 1895-11-30
SUGAR MAKES GAIN
ONLY ACTIVE STOCK TO ADVANCE
NOFEWORfHuY.

Leads the Market Both In Activity and
Strength - Irresularity the Markets
Chief Feature-shorts Cover In sugar
on Favorable News from Insiders,
Hence, Chiefly, the Rise Tobacco and
Chicago Gas Overshsdow the General
List-Lishter Gold engagements than
had Been Expected.
New York, Nov 2e.-Irregularity was
the chief feature Of today's speculation
The volume OF business was somewhat
lighter than on Wednesday and the dis
trIbutIon of transactions, which were
almost entirely professional n charac-
ter, was very narrow. Sugar forged 10
the front as the leader OF the markec,
both In point of activity and strength.
Tobacco came next n extent OF trad
ing, followed by Chicago Gas, St Paul.
Western Union and Burlington IN on
ly one other stock, Rock Island, did the
business come anywhere near the 1V.eVe
share limit. Prices moved sharply and
in an erratic fashion. but os a result or
the days operations, only one active
stock. Sugar, left of at a noteworthy
gain The last closed near the best OF
the day and at a net advance OF Is
per cent The rise was chiefly due 10
covering OF short contracts on favo-a-
bic news from insiders as 10 the Statis-
teal position Of the American Sugar
Refining company, and 10 anticipation
OF the impending declaration Of the
regular quarterly dividends.
The industrials, or, as a matter Of
fact, three Of them, completely over
Swallowed the general list in point Of
activity. American Tobacco sold or
early per cent on raiding by the bears.
but rallied to within a fraction OF the
closing on Wednesday and wound up
at an extreme net decline OF 1H per
cent The aggression of the traders
was credited 10 the report that the
American Tobacco company was still
losing money heavily, despite the ad-
vance IN It's plug tobacco 10 a figure
not absolutely ruinous as heretofore, in
the fight with the outside manufactur-
ers. Chicago Gas dropped is per cent
on new proceedings to restain the con-
solidation OF the various properties. but
rallied subsequently TO within y per
cent of the opening figure and left off at
net loss of an unimportant fraction
The general market opened fairly ac-
tive and steady for the railroads, while
the industrials, as noted, were quickly
subjected to effective hammering.
Fresh liquidation broke out in United
States Leather preferred, causing an
early drop Of a point. Later on an ad-
ditional loss OF IS per cent occurred.
Covering late in the day caused rally
OF Us per cent from the extreme how
fsrrr +h. L. -E
decline Of Is per cent. The weakness
was due to a reported cut OF 4 cents per
pound in belting butts. After the first
half hour the general market exhibited
a rallying tendency, which wae in turn
checked by the publication Of the Bur-
lington's statement for October. show
Ing disappointingly small increase In
net earnings. This caused q loss Of a
point in the stock, TO S5 per cent and
subsequently it touched S42t per cent
The closing was practically at the low
est and showed net decline OF l per
cent. On the other hand Sugar was ad-
vanced from 9S24 per cent TO 1001z per
cent
The engagements OF gold for Ship
ment tomorrow, aggregating, up to the
close OF business s1.750. 900: 81. .000. 900 in
bars and $3.50, 900 In coin, were much
lighter than had been expected. Quite
late In the day a somewhat easier ten
dency in exchange rates was explained
by the news OF the sale or 81 200, 900 OF
exchange against Georgia Central
bonds for foreign account. In the last
hour the market was, as a whole, ir-
regular and unsettled until just before
the close. when Sugar was worked up
to 1olk per cent. the highest Of the day.
The grangers were weak, with the ex-
ceDtion Of St Paul, which closed at IS
per cent, the highest point, ON the pub
ncation OF the company's October state
ment, showing an increase in gross
earnings of $3.50. .9s2, and an increase in
net earnings OF s669.954. The market
ended irregular. Aside from the net
losses referred to. Manhattan Railway
finished per cent lower.
The bond market was, as a rule.
stronger today.
The transactions IN governments
reached s4S.500 including $4,000 new
fours coupon OF 1925 at III per cent and
$500 registered fours OF 1887 at 11I4s
per cent.
In silver certificates $4,000 were
dealt in at s7A per cent
BRADSTR EETS STOCK REVIEW.
New York, Nov. 2s.-Following Is
Bradstreet's weekly review OF the New
York stock market: Three causes con-
trFbuted 10 a better speculative feeling
this week. with a partial recovery in
stock prices. They were, giving them
according 20 the influence they exerted,
the increased short interest, the decline
In exchange and comparatively small
gold exports, and the recovery IN the
foreign market. The two latter cor
cumsanceS seeTn to have affected the
imagination OF the traders who had
been selling stocks for the short sc-
count during the preceding fortnight. ?.
and IN 50 narrow a speculation, inter
rupted as II were, by the THANKSGIVING
day holiday, the tendency from Mon
day 20 Wednesday s-esTned TO BE- strong
Iy toward covering such contracts. The
same feeling seemed to prevail on Fri
day, though the market was very mac
tive, and for that reason, inclined TO
sag OF It's own weight without bearlsn
assistance. Considerable selling press
ure was noted IN some Of the indus
trials. particularly Sugar. Tobacco and
United States Leather preferred. but
this seemed 20 BE- partly for the purpose
OF facilitating the purchase OF other
stocks. On Friday the market was
slightly disturbed by a new legal a.
tack OF another leading industrial
Chicago Castle proceedings this time
taking the form Of an attempt TO ea-
JOIN the Central Trust company from
acting as the depository of Tie pressu :
certificates under the proposed plan o;
reorganization On The whole, the rail-
way share list has been very firm and
a. times strong. the covering operatsoas
% the bears exte16l1g finally 70 -he IL
dus.rlAls- Al the same tine tbe mar
ket wss ysry narrow, professional az
fair. The public keeps cut. and rhe
better feeling abroad, While affecting