The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-06
SHARES ON THE SAG
SPECULATION LIMITED AND MOVE
MENT IRREGULAR.
Iarket Professional and the Trend Down
Shorts Covering-AmeriCans Lower In
-London-BaDk Statement Is Altogether
of tho Increase In Deposits in Four
Weeks Review Of the Stocks and Bonds
Markets for tho Week.

OF tho increase IN Oeposits IN Z our
wseks-Review of the Stocks and Bonds
Markets for the Week.
New York, Dec.r 5.-Today's limited
speculation was irregular in movement.
but the changes were in most instances
unimportant, aside from the specialties.
This last class was affected by independ
eIt in fiuences. The market was clearly
professional and the trend of prices
| mainly downward. The declines were
interrupted at intervals by purchases to
cover shorts. The initial dealings show
ed losses gene1 ally, in part occosianed
by the influence OF depression in the Lon
don market for American securities. A
rally soon occurred under the leadership
OF the industrials. Union Pacific dis
played activity and strength and rose g
per cent in connection with the resump
ton Of efforts by strong financial inter-
ests TO agitate the question OF a settle
ment Of the company's debt to the gov
eminent. In the final dealings some
stocks sagged sharply, particularly To-
bacco. The present plethorem of money
caused favorable bank statement. The
market closed heavy at fractional net
concessions generally.
Railway bonds were active. but lack
ed feature. Eirmness was almost gener-
ally noted, but declines occurred in sew
eral issues. International and Great
Northern seconds lost IL per cent The
sales were s2199, 900.
The market during the week was DOM
mated by the interests attaching to the
forthcoming session of congress and the
probable tenor Of the presidents message
touching upon the Cuban question. Lead
ing interests were content to remain pas
sive until the outlook was more definite,
and this fact has improved by the oper-
ators for decline, their special efforts
being directed against the industrial
group. The market was unfavorable af-
fected by more or less constant liquida-
ton in the specialties and by discourage
ing exhibits of railway earrings. Foreign
dealers cao'ed moderate selling orders in
the leading international shares. The
Specialties were the features of the spe-
culatlon, however, and fiuctuated rapid
~ with a downward trend The stocks
OF IRON and steel companies were depress-
cd, incidentally to the halt in these in
dustries. The extreme ease in money
rates, receding to a 11ad2 per cent ba-
SIS, which would ordinarily stimulate ac-
tlVlty in stocks, involved an advance in
sterling exchange rates, which OCCASION
ed discussion regarding the probability
OF the resumption of gold exports from
TINS country The theory does not find
Wloe acceptance, owing TO the unusually
favorable international trade position of
the United States and the large sums of
money that have been loaned to Eurape.
In addition to the influences noted, the
suosldence Of activity in the railway
bond department and the lighter move
ment OF grain TO the sea board. were
Claimed by the bears to foreshadow de-
creaslng bull prospects Sugar was de-
pressed with a view towards influencing
the general list, in Connection with the re-
ported impending starting UP of the in
ternatlonai Arbuckle refinery. The mar
kes strengthened as the week progressed
ana wider distribution of the dealings
was noted. Commission house buying be-
came evident, and an increased inouiry
also occurred in the so-called miscella.
heous Stocks. Suggestions of favorable
prospects for dividends on some Of the
ioW-prlced stocks helped to an improy-
ing tendency Of the market and were TO
an extent borne out by the declaration
OF per cent disbursement on Southern
hallway preferred. This action was con
sldered especially significant oe conf
oence entertained by the powerful inter-
estS connected with tn property. as TO
the improved rate situation in the south
ana the general business outlook. For
elgn operators changed front in the clos
ing half of the week and re-purchased a
considerable portion of the stocks previ-
ously sold, including those of the reor-
ganized properties. The indications of
early action on the usual December div
loends on the Vanderbilt properties in
q hTt .l- g.,
Wnicn, IN turn, gave tone TO the other
regular dividend payers. The Lake Shore
statement for nine months, showing am
pie provision for al charges and div
oends. caused an advance to 1851 per
cent, the best price ever recorded for the
stock. Baltimore and Ohio DISPLAYED
pronounced weakness on the pjublica-
ton OF the Little expert account of the
management of the property The mar
ket closed heavy in tone, on realiza-
ions. but most stocks show net gains.
VMcago Gas list up Az per cnet and
Lake Shore and Omaha reached 3Is per
cent. Sugar, exceptionally, closed 14
per cent be,ow the final price of the
week. The aggregate sales were 952 713.
The bond market during the week was
active, at well-defined inquiry for in
vestment. The important changes were
noted IN the usually inactive issues The
comparative figures show general gains.
whicsh We're fractional in the active
bonds. Rock Island debentures fives
and Denver and Rio Grande fives adj
vanced 4 per cent and Union Pacific
gold skies 3ls per cent. The declines in
cluded Union Pacific collateral fives. 5
per cent: do AS trust receipts IA per
cent; Utah Southern extension sevens |
receipts per cent: general seven trust |
o rrS TX
bentures, series s, %. per cent The ag-
gregata sales were So. 225 900.
The government bond market ruled |
firm and active on an investment in |
quiry, Chiefly for the new tours. Deal |
ers reported large oyer-the-counter-sa |
The transactions at the board footed UP |
s26S. 900.
Application will be made to the gov
erning committee OF the New York ex-
change 10 suspend business from Thurs |
day. December "A. at p. m, 10 Monday |
December IS. at 10 a. m.
FOREIGN STOCK MARKETS.
New York. Dec. 5.-Evening Posts !
London financial cablegram: "Consols /
sold at 112 cash today and money con-
unues cheap. The tone OF the stock mar
kst was good, butb usiness was quet. |
Speculation here was largely confined to /
home Industrial companies"
NEW YORK BANK STATEMENT.
New York, Dec. 5.-The weekly bank
statement shows the following changes:
Reserve. Increase s1.053.9 loans, in
crease S. s23. 500; specie. decrease $685.. 100
legal tenders. increase 500: deposits
increase sll.4l 200; circulation. decrease
500. COCO. The banks tnox hold SO. 49,
400 in excess OF the requirements OF the /
IS per cent rule
New York. Dec. 5.-The New York
Financisr says this week:
FOR the first time since Disc. =. 1885,
the deposits Of the New York clearing
house banks exceed $500. o.. zoo. the bank