The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-20
STOCKS ARE DULL
HOLDERS OF SECURITIES NOT BEING
DISPOSED TO SELL

| investment OO0d houses REPORT ar
Extraordinary Inquiry Short Time
Money Goes Begging at Four Per- Cen,
Days Share Dealings Light and Con
fined to q Few Stocks.
New York, Nov 1e-The stock market
is dull and moves, generally speaking,
within narrow range owing to the fac
| that holders of securities will not sell
to any appreciate extent, although near
ly all of the professionals arranger upon
! the bear side. Transfers of the dividend
paying stocks show large and steady
| movement into the hands of investors
and representative investment bond
houses report the largest over-the-count-
er inquiry for small lots of bonds, inc,ud-
| ing governments, railway and prime mu-
nicipal Issues, that has ruled within a
year. Individual corporations and trust
companies are in the market for large
and small lots Of bonds and the supply
| OF first-ciass material is light. Leading
bankers say that ii is now difficult to PIT
out short time money a. even four per
cent while the market is bare Of prime
mercantile paper in the face OF a brisk
demand. These facts explain the indif-
ferent success obtained by bears recently
in their efforts to shake out lopg stock
| IN cases where there is no SPECIFIC unfa-
Vorable news. Business today was light
and was practically confined to four
stocks. the dealings rejecting almost en-
| hirely professional operations. The mar
ket was strong in tone in the early session
and noteworthy gains were scored in the
1 VOL ~ ~y14
although actual sterling rates were mark
cd up about u cent and in some instance;
posted figures as well. The strength of
exchange was attributed TO increased
demand for remittance purchases. facili-
tated by the easier monetary conditions
here. There was also some disappoint
ment in bear circles over the non-fulfill-
ment Of the predictions of an advance to-
day in the Bank OF England rate of dis
count. The grangers and other leading
railway shares made substantial gains
and the speculative temper showed a de-
cidedly more cheerful sentiment.
Good buying in Leather preferred.
which carried the stock up to 6 per ceIS
was attended by reports from apparently
well informed quarters that the COM
pany had cleaned up the balance of its
$4,000 900 loan. Lead, common and pre-
ferred, We're In moderate request, but
advanced 1a1k per cent respectively in
expectation Of the declaration Of the reg
ular quarterly dividend on the preferred
stock. The usual rumors of a possible
distribution on the common shares We're
also current. Later the preferred lost l
per cent of the improvement and the
common reduced to 26 per cent bid at
the close. Foreign houses were moderate
int chs htIt
without marked influence upon prices.
Bay State Gas was a notable exception
to the general trend of values, falling
per cent on liquidation and is now ruling
at about the figure that obtained previ-
Gus 10 the declaration of the scrip divi-
dend. The market in the late tradingS
lacked important features. until the final
hour, when determined bear drive fore
ed Sugar down rs per cent and other
shares 1za1 per cent. The low-priced
stocks were offered freely, particularly
American Spirits, Tennessee Coal and
Pacific Mail and Southern Railway pre-
ferred. Toward the close covering pur-
chases impaired steadier tone to the
market. The net changes are unimport-
ant.
The total sales of stocks today were
203,351 shares, including: American Su-
gar 40,l00; Burlington and Quincy 900:
Chicago Gas 1900; General Electric 1000;
Manhattan $500; Pacific Mail 800: Read
ing 20,600; Rock Island 1000; ST. Paul
1860; Tennessee Coal and Iron 4.SO0:
Wheeling and Lake Erie 400; Southern
Railroad preferred $500; silver certifi=
Gates 1900.
The bond market was fairly active,
with an advancing tendency. which was
most prominent in the inactive issues.
The sales were s1,o2S,0O0
Governments We're firm and notably
higher for the currency issues The sales
were $50. 900.
Silver certificates wre dull. but trihe
frmer on purchases of 81, 900.
FOREIGN STOCK MARKETS.
New York, Nov. 19.-Evening Posts
London financial cablegram:
The stock markets were dull today on
fears in some quarters of rise in the
bank rate and of failures in the Kaffir
market. Neither event occurred, how
ever, and hence came recovery at the
close, mines closing al the best of the
day. Consols were good a-'1101a per cent
Americans were bid for in the street and
closed at the best of the day. Notewor-
thy also was a recovery in Brazilian
bonds. Although the money market was
shade easier today firmnesS is looked
for, as the Russian demand for gold is
expected 10 press on London. The rise
in New York exchange has not had much
effect, because, the cables state, the
movement is due TO speculative buying
by a candidate in New York. The Paris
bourse was better on a further rise IN
Spanish stocks because of the success OF
the new Spanish loan. The Berlin mar
ket was steady"
London, Nov. 19.-The Bank OF Eng
lands rate of discount remains unchang-
ed at per cent.
LOANS AND EXCANGE.
New York. Nov. 19.-Noon: Money on
call easy at SAB 1-2 per cent; prime mer-
cantile paper Sac per cent. Sterling ex-
cnange strong with actual business in
bankers bills al s4.s5 3-4ai.S6 for demand
and AsGa4.S2 Ia for sixty days. Silver
certificates .S13.o00 at So IL. Bar silver
90 cents; Mexican dollars 80 IS. Gov
eminent bonds firm; new tours registered !
and coupon 10 1-2: SIS registered liz "a:
coupon liz rs: Is reg. and coupon 100
81: cs reg IS: Pacific 6s of 90 101 L.
notwithstanding sl0,532, 594; bal |
2nces s., 5S5, $50.
misunderstanding S2.547.sl1; bal |
ances S2sc.s70.
ST. Louis-Clearings si.255.0ls: bal !
ancss Si70. "a. Money Gas psr cent. New /
York exchange 70 cents premium bid; /
Sl.00 premium asked