The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-11
LONDON SWINGS In
HIGHER PRICES FOR AMERICANS IN
THAT MARKET.

Also Purchases for That Account on This
Side-It Dawrs on the British Mind
That the American Outlook il More
Roseate Than had Been ImaFined-
Commission Houses Report Plenty of
Orders-Iime Money Easier and sterl-
ing Exchange weaker-Stocks Close Ae-
tive and Strong, at Net Gains.
New York, Feb. 10-The speculation
today was characterized by pronounced
strength. The volume OF business ex-
ceeded any totals since the stormy
days following the Venezuelan mess
age. The dealings were very widely dis
tributed and took in a number OF IN
usually neglected shares. Higher prices
for American securities in London. pur-
chases for that account in this market
stimulated by fuller appreciation OF
the improved outlook on this side. as
defined by the success OF the govern
ment bond issue; an easier condition q
the time money market and weakness
in foreign exchange rates. all contribut-
ed TO encourage the local dealers. The
change Of front on the part OF London.
which had previously been a persistent
and fairly large seller, was considered
particularly encouraging. Leading
commission houses reported an influx
Of orders and a decidedly cheerful tone
prevailed. The news Of the appoint
ment of a number of banks as govern
ment repositories for the new bonds
was regarded as tending to prevent ex-
IRENE disturbance of the money market.
The purchasing movement carried
Manhattan railway up Az per cent, TO
lib per cent. \ variety of favoragle re.
ports and rumOrs regarding the prop
erty that have recently been current
were again made TO do service, but all
as yet lack official verificatiOn. Tobac-
co fell on fraction and then, on heavy
purchases, jumped 1 per cent, 10 81.
per cent. The movement was chiefly
based on The covering operations OF
the professional bear dealers. The at
tending story was the old one of A
truce between the company and the op-
posing plug tobacco manufacturers.
Lack OF confirma ton Of the report re-
suited in a slump of per cent, 20 77Is
per cent, but IN the hate dealings the
! uptacy was resumed and the stock ad-
Vanced 10 S0A per cent Sugar main
| tained its leadership Of the market In
point OF activity, despite unusually
heavy totals in a number Of shares,
notably Tobacco. which figured for S.
| 500. and St. Paul for 40. 900 shares. SUI
gar gained 2 per cent, but the improve
ment was not sustained. as Washing
ton advices that a bin had been intro,
F, duced providing for the repeal Of the
differential on the staple encourage a
raid on the part of the traders and pro-
voked liquidation by outsiders The
stock fell 3 per cent. but recovered par
tally afterwards and it closed un-
changed on the day. The general list
| gained lq2 per cent. with the grangers
Louisville and Nashville. Western
Union. Consolidated Gas and General
Electric the leaders. Leather preferrei
was a conspicuous exception 10 the
movement, receding 2Ss per cent on re-
iterated statements Of the improbable
ity Of action on a dividend at the COM
ing meeting OF the directors Around
p. m. the execution Of realizing sales
on a liberal scale unsettled the market
Manhattan lost Il per cent Of the rise
and important receSsions occurred IN
many other stocks. In the late opera
tons prices again took on strength un
der the leadership of Tobacco and Su
Sdi. IL CIOSlnB was active ana strong
at general fractional concessions from
the best prices, but with material net
gains the rule.
The bond market displayed consider
| able irregularity today. but the under
tone was firm The sales were S2,O76.-
900.
Governments stiffened slightly on
purchases of $685.. 600
Philadelphia, Feb. 1O.-Clearings 81
962, 449; balances s1,471.II6.
Chicago, Feb, 1O.-Clearings. E7.313.-
175
st. Louis. Feb. 10-Clearings s4577.-
313; balances sS37,7S1. Money Gas per
cent.
Berlin, Feb. 10.-The weekly state
ment of the Imperial bank OF Germany
shows the following changes as com
pared with the previous account: Cash
in hand, increase 10, 0S0, 900 marks; treas
ury notes, increase /. 02O. 900: other secur-
tiles. decreased 1890. 900: notes In cir