The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-17
CLOSE FOR SUNDAY
SHORT OPERA ions PUT THE STOCK
MARKET ADVANCING
Market Opens Strong 1T Fractional A.
vances, Followed by Break In North
west Affecting the Market Generally
Another Advance Succeeds. and .
Slighfer Reaction. and the Close ts Firm
Weeks History That of Weakness ON
the Bond and Currency Situation and
Decreased Railway Earnings.

New York. Feb. Ie.-The stock mar.
ket during the two hours OF business
today was very irregular in It's move
ment but in the main inclined toward
higher prices. this tendency being due
TO the closing out of short contracts
over Sunday. At the opening the spec
ulation was strong IN tone and frac-
tional advance was recorded The I'M
provement was not, however, MAIN
tanned for long. break OF ia per cent
Ia National Lead causing sympathetic
reaction in the general market. New
Jersey Central was also attacked ana
broke "a per cent. Before II O'Clock
the temper OF speculation had under
gone a charse for the better. Lead
having recovered Il. per cent. New
Jersey Central rallied rs per cent on
covering OF short contracts and tho
rest of the list moved ap under similar
influences. About 80 shere was
slight reaction but in the final trading
the market was firm and closed in good
tone. the greater part OF the shares
dealt in being 10 i. per cent higher
on the day.
Speculation was restricted in the ear
lier part OF the week. as but little hope
was entertained OF congressional relief
feat OF the bond bill merely added slight
~ to existing depression Another fac
tor OF weakness was the unfEVorab.s
reports of railroad earnings. notably OF
the Granger roads. The republication
of the terms on which the government
has sold its four per cent bonds TO the
Belmont-Morgan syndicate had good
effect. The requirements which pro-
vided for the Importation OF gold from
Europe and that which bound the SYM
dictate TO use its best endeaVors % pre-
vent Withdrawals OF gold from the
treasury We're looked upon as most IA
vorable 10 the future of the market.
implying a sit does. the control OF thu
foreign exchange market so as Co keep
rates below the gold shipping point
The bears attempted 10 exaggerate the
Importance of the purchases OF some
IA the open market. the buyers paying
a commission OF %alz per cent 20 bull
lion brokers. But the effort to create
scare on the gold premium Was insf-
fective.
Northwest was feature of the share
speculation throughout the week and
suffered from heavy liquidation To-
bacco was forced down ia per cent To-
81 per cent The primary cause OF the
break was the current rumor 10 the ef-
feet that an insider was selling the
stock. In the latter part OF the week
there Were evidences of inside buying
which resulted in a rally OF ~ per cent
Street gossip To the effect that the off,
ces OF the United States Cordaze COM
pany would soon be transferred TO tho
care of receivers resulted in a slump I'm
the stocks. The closing trading OF the
week disclosed a demand for the issue
and they marked UP TO Az, e5s and ~.
per cent, respectively. the net losses
being only u per cent for the common.
/ per cent for the preferred and y per
cent for the guaranteed. Sugar. while
most prominent In the trading, moved
within comparatively narrow limits. In
a majority OF instances the last ngCres
OF the week are below those Of the pre-
cedinx week The aggregate sales OK
the week were 500 500 shares.
The bond market today was firm but
dull. the sales sggregating S50e. 0lO. I'M
ion Pacific Denver and Gulf firsts arc
down per cent. The trading during
the week was extremely apathettc and
uninteresting save In "a few OF the In
active mortgages. The final sales ara
for the most part below the figures pre-
yailinz a week ago. Government bonds
showed more activity than for some
time past. the combined sales asgre-
eating $3.50. 900. The fives show an adj
vance of a per cent and the fours OF y
per cent. which Is due to the high bids
made for the new loan taken by the
syndicate.