New-York tribune., 1896-11-28
pp,crs ot, Ct{1CAGO STOCKS.
Friday, November 2I-p. m

FRIDAY, November -t-p III.
Trailing In stocks to-day was dull ana spirit
less. with prices gradually sagging toward a
lower level. final changes showing net losses In
the majority Of issues The only important eN
ception to the general weakness was in Chicago,
St. Paul, Minneapolis and Omaha, which gained
2H ner cent on buying induced by It's excellent
statement OF earnings for October. Cnicago
and Northwestern was affected favorably by
IN. advance in Omaha. although It's net gain
was under per cent. Reason for an upward
,,ovement in this stock was supplied when 1t
WAS remembered that the Northwest company
controlled $4,000 600 stock of Omaha. and con-
senuentlv snv enhancement in the value OF the
stock of the last-named company would mean
an increase in the value Of Northwest's assets.
St Pau and Burlington were weak on bear
nressure and the general railway list showed
the effects of bear operations and lack of sup
port while the Industrial list. as rule, maze
concessions and moved without life. even sugar
Refining's dealings amounting TO less than oWoV
shares. Consolidated Gas lost o1a per ceht oi
profit sales and disappointment at the laiiure
of the directors to declare scrip dlVideno, anu
Laclede Gas broke 3 per cent closing al net
loss Of 5A on small sales. Reading was on !
per cent. Elsewhere there were no important
changes in the active list. and outside OF head-
ing. Burlington. st. Paul. Manhattan. sugar Re-
fining American Spirits and United states
shares or more than two-thirds OF the total
business there was stock In which trans
actions were noteworthy. .
The developments Of the day were favorable
for higher prices In the stock market, except,
perhaps further strength In sterling exchange,
although that was due to speculative buying
and not to appearance OF any bad features In
the exchange situation Wheat went higher
again. the December option reaching 3012.
against S9A Wednesday. and closed at net
advance OF l per cent. The statistical position
Tgvtt. Stota nnan "a rod
with other wheat-growng countries. continues
strong. and the Indications, based upon the low
reserve stock carried by other countries ana
the diminished crops of Russia. India and Ar
gentina favor still higher prices for the product
The price and export movement OF wheat are
important encouraging features Of the current
situation, but they receive little attention
among bear traders on the Stock Exchange. who
are unable to take seriously the multiplying
signs of commercial and financial improvement.
The money market showed extreme ease and
it's condition and the condition Of the money
market in London were reflected In the strength
in the foreign exchange market. where there
was a renewed demand for long sterling by
bankers who use 1t as security for time loans.
the transaction virtually resulting In lending
money In the London market. the operation
involving the purchase OF commercial biils by
exchange houses which send the bills abroad
for collection and against which they draw
their own bills and sell them 10 people who OBJ
tain time loans upon them.
The Treasury statement for to-day showed an
Increase in the net gold balance OF $l,5S3,6U2
from the last preceding statement raising the
Governments net gold holdings to $129. 1856 1876
against $117 7.530316 just after the election. an
Increase OF S14S99.077. and placing the reserve
at the highest point since 1891 This increase
has been entirely due to the restoration OF con-
fideuce brought about by Mr.. McKinley's cleo
ton. and II represents In great part gold with
drawn before November by people who were
nervous over the possibility Of a sound money
defeat. In the same time legal tenders In the
Treasury have decreased $20.116.115. but the
actual cash in the Treasury vaults over out
standing certificates has decreased only S1.571.
2j7. silver holdings having increased 81. 245S41
Deposits in National banks have decreased
S221 .52S. and minor liabilities increased 81 1856
253 so that the actual cash balance has de-
creased 81 73S 433 For the month to date the
National revenues have showed a heavy deficit
S7.620,992. and since the election S6 3067
which explains the decrease In the Treasury's