The Wichita daily eagle., 1895-11-21
RALLY CONES LATE
COVERING BY SHORTS STIMULATES
AN ADVANCE.

- eAA .<sA<S ~ kCCAASCnt - l4RcStS0 10 nv
suit In the Increase of Earnings on the
Systems Inciuded and the Burlington
Divideod 10 Also . Matter of Encourage
Mention the Cloudy side. However. Is
the Two ard Three-Quzrters Millions OF
Gold Exports for the Week. and More
Expected-Kafsrs Shaky.
New York, Nov. 2o.-The stock mar
ket enjoyed a belated rally today under
the stimulus Of covering OF shorts by
both local and foreign dealers Mod
crate purchases for the long account
were also noted. Contributory caus-
es were various. In the first place
the general expressions OF opinion from
prominent railroad officials TO the even
tually extreme beneficial effect upon
earnings Of the respective properties
to result from the ratificati ton OF the
trunk line agreement, had a favorable
influence Burlington rallied from an
early decline on the announcement OF
the declaration Of the regular quarter
ly dividend. Secretary Carlisle's
speech at the chamber OF commerce din
ner was well received. Northern Pa
cific was helped by the publication OF
the earnings for the second week in
November, Showing an increase in gross
OF $S1,5oo. Furthermore. the short in
tersst in number OF stocks had be-
come unwieldy and a rally was locally
due.
On the other hand. the total OF gold
shipments for the week to date was IN
creased by $1,000, 900 to be forwarded
by tomorrow's steamer, making the ag-
gregate exports s2,750, 900: Despite a
reduction in the rates OF sterling ex-
change which was announced late in
the afternoon and was due TO the off,
erings Of gold bills, further shipments
70 gold are expected 10 be made on
Saturday. the estimates ranging up 10
100000 The comercial house ship
ping tomorrow was again in the mar
ket today as an offerer of gold cables.
London quotations for Americans pre-
yious 20 the opening here came lower
and the foreign news was not encourag-
Ing. The market started in active and
weak and the bears had a good grasp
on the speculation during the forenoon
and caused sharp recessions in a num-
Der of the leading shares. About 1
O'Clock the rally began. inspired by the
Burlington dividend and other infiuenc-
es noted elsewhere. In the upward
movement material gains were scored
throughout the list and particularly in
Tobacco, Western Union. Manhattan,
Tennessee Coal. Cotton seed Oil, Louis
Vile and Nashville, Sugar. Distilling,
Burlington and Missouri Pacific. Prices
at the top notch were above yesterday
finals and in some cases showed mate
rial net gains. The closing was dull
and strong and at about the best fig
ures OF the day.
There was some irregularity to the
course OF the bond prices today, but
on the whole better tone was evident
than on preceding days of the week.
The volume OF business was moderate,
the sales aggregating s1.37s,ooo. The
more noteworthy changes are: Ad-
vances-Chicago. Cincinnati and C1eve-
land and st. Louis fours, st. Louis di-
vision and c. c, c. and l., generals, IL
per cent; Oregon Short Line skies 2 per
cent; Oregon Short Line trust receipts
IL per cent: San Antonio and Aransas
Pass fours rs per cent and Peoria and
Easetern firsts. Peoria. Decatur and
Evansville firsts, Milwaukee, Lake
Shore and Western and La CIede Gas
fives ] per cent Declines-Atlantic
and Pacific guaranteed fours per cent
Kansas Pacific consols, Trust receipts
2& per cent; Wabash debentures, series
b, and Colorado Midland fours trust
receipts per cent; Brooklyn elevated
firsts rs per cent and Detroit. NJ. and
NJ, land grants, andsOregon Improve
ment firsts / per cent:
Governments were steady on transac-
tons of s3S, 900.
In state bonds Virginia centuries were
traded in at 81 per cent: sellers 20 days.
GOLD SHIPMENTS.
New York, Nov. 2O.-w. II. Crossman
and Brothers will export $1,e00, 900 Of
gold tomorrow.
Washington, Nov. 20.-The treasury
today lost 81 ,0o0.0 900 in gold for export
which leaves the true amount OF the
gold reserve at the close OF business
sS6, 500, ,594.
New York, Nov. 20-The American
National bank, late this af-
ternoon turned s3o0. 900 in gold into the
sub treasury in exchange for legal ten
der. Officials OF both institutions sta
ted that no significance attached TO the
transaction and that IL did not Indicate
any concerted movement by the banks
in general, to forward gold to the sub
treasury.
BANK CLEARINGsS.
Philadelphia. Nov 2o.-Ciearings s21,-
s6i. $50: balances 81. .70S, $50.
St. Louis. Nov. 20.-Clearings 1856
so4: balances s355. 5.ss1 Money 5q7 per
cent. New York exchange IS cents
premium bid.
SEMI-PA,yTC IN MINES
New York, Nov. 20.-Evenings Posts
financial cablegrams:
London-The stock markets here to-
day were fat from start TO finish. There
was a semi-panic and indiscriminate
selling. The news ca5led IN these dis
patches yesterday about the disap-
pointmen in the crushing returns OF
one OF the deep level Kafir mines near
" knocked the bottom out OF the mining
market IL must be remembered, tho
that at present nothing Is officially sta
ted. and some persons attribute the re
port 20 the bears. Mining shares closed
at the lowest ponit reached since the /
slump commenced Consols closed az |
l05S. and were heavy on bear sales. |
Americans were dull in sympathy with !
1ther markets. but closed above the 1
worst No special Developments were !
sial, but continental sales pour IN from /
AL sides. and the London market "a +
Hooded with bankrupt stock
Paris-The markets were fat ali day /
n spite OF an Official contradiction that /
4 - fr,H HFfris-saf.f.-z