The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-07
SAILING is PLAIN
STOCK MARKET NO LONGER VEXED
BY FINANCIAL SHOALS.

dustrial situation Strongly Reelected
Heavy Covering by Shorts all Along the
Line-Specuiative Bonds Dealt In Heavily
ut Material Advances - Foreign share
Markets Good.
New York. Nov. 6.-The stock market
today, while less sensational than in the
forenoon boom on Wednesday, displayed
great strength and the volume Of busi-
ness, which was better distributed. did
not fall far short of that days record.
The large number of hundred-share lots
dealt in was regarded as indicating a
big short interest and aggressive
strength was displayed in the face of
strenuous resistance TO the rise by some
professional bulls without stocks. Hea-
Wy coverings of shorts all along the line
was decided feature. The buoyancy
of the market was evidenced by the
low-priced as we'll as the gilt-edged
stocks. while the usually spectacular
specialties and industrials also partic-
ipated in the improvements. This con-
dition Of the speculative temper was
due variously to the dissipation OF yes
terday's disturbing rumors and 10 the
frequent successive reports of reviving
industrial activity in nearly all branch
es of trade, to the complete disappear
ance OF apprehension regarding the f.
nancial outlook, the easier monetary
rates and the distribution Of dividends
in certain properties. Speculative bonds
were also heavily dealt in at material
advances in prices. Sugar was quite en-
ratio and after a gain OF SIS per cent,
to 121 per cent, at the outset, fiuctuated
sharply between 119 IL per cent and
lis IA per cent. closing at ll9 3-S per
cent. The other industrials also fluct-
uated widely, with Tobacco and Chicago
Gas the most prominent. The last men
toned stock rose 2 1-2 per cent on the
dividend announcement, which was
thought to have been discounted. In
the specialties, New York, New Haven
and Hartford and Illinois Steel. rose 5
per cent, causing sympathetic though
less extensive improvement in other
shares of their class. The more i'm
portant extreme gains in the regularly
active list ranged up TO ga per cent in
Burlington, Rock Island and Tennessee
Coal. In the low-priced shares, many
usually inactive stocks made material
advances as compared with previous
sales. General Electric doomed into
prominence in the late trading and I'M
der heavy purchases rose per cent.
London operated on both sides of the
market. but was a heavy seller at the
high levels The Atchison shares were
slightly depressed on the announcement
of the appointment Of a local receiver
over small section of the line in Kan
sas. The importance Of this develop
ment was made clear later and rallies
ensued. The closing was at the best fig
ures of the day.
The total sales of stocks today were
4sS,6l0 shares, including American To-
bacco. 1860; American Sugar, 72.100;
Burlington and Quincy Al 500: Chicago
Gas, 1880; Chesapeake and Ohio 5000:
Erie. 1900; General Electric. 10, 800: Man
haitian. 500; Missouri Pacific. 1900;
Northern Pacific. $500: Northern Pacific
preferred. 5000; New York. Susquehan-
ma and Western preferred, $500; Read
ing, 81, 800; Rock Island. IL 500: st. Paul,
SO. 600; Tennessee. Coal and Iron $500;
Union Pacific, 2S,SoO; Western Union,
8. 900; Wheeling and Lake Erie. 3,100;
Southern, 100; Southern preferred, s.
900; silver certificates. 100000.
Transactions in bonds were on large |
scale and extensive fractions were scor-
ed in many issues. Large blocks OF |
more prominent bonds were taken for |
foreign account, a number OF the high |
est grades OF securities figuring in the |
dealings In the bonds OF reorganized |
increased activity and |
market were noted. The |
sales were s3,s9S,000.
Governments moved up slightly on |
sales of sso,500.
Silver certificates were in demand and |
rose IL per cent on transaction of $780, |
0e0
London cablegram:
The stock markets were quiet but |
good here today. Americans opened dull |
but recovered before the receipts of the |
prices in New York. The close was at |
the best. Low-priced bonds were bid for |
freely. The rise in consols TO 109 "a is !
rather puzzling in the face of the news. |
am told that ogld has actually been /
engaged for shipment. on Saturday for /
New York, but at present IL is so small |
as to have no significance. Russia is tax
ing all the gold in the market for coin
age. The Paris and Berlin markets
were good"
London, Nov. 6-Consols for money
LOG 1-2: account. 100 SIS; Canadian Pa
ci6c. so 1-2; Erie. Il Is: Erie firsts pre-
ferred, IS; Illinois Central. 50 IL; Mex
can ordinary. 20 3-4: ST. Paul common,
80 Is; New York Central. IS 1-2; Penn /
sylvania % IA; Reading Is 10; Mexican
Central. new fours. SO "a: bar silver.
. 15-1sd per ounce. Money 1-2 a per
cent The rate OF discount in the open
market for both short and three months
bills 1-2 q 3 IS per cent. Gold ia quqot
ID at Buenos Ayres today at $50; Ma
irid, 1925; Lisbon. "a L.: Rome. ~ IL:
par gold is quoted a. as 10 I'D.
Paris, Nov. 6.-Three per cent rentes
OFF CSC for the account. Exchange On
London, 25f 81 I-2c for checks.
Berlin. Nov. s.-Exchange on London
light days sight 20 marks 36 IL pfen-
1igs.
LOANS AND EXCHANGE.
New York, Nov. s.-Cail money easy
l. 1-2 per cent: last loan per cent:
,losed 3 i-2 q per cent; prime rnercsn-
lie paper sG3 per cent Sterling ex-
,hange firm with actual business in
,ankers bills al 81 81 "a a 81 IS for de-
nand and s4,s1 1-2 a s4s1 "a for sixty
lays. Posted rates. sis2d4s2 IL and
f. q ass Posted rates Ase6
So l-2 and S4s5 IL q ass Commercial
,iIls 81 50 i-2 Bar silver. ca rs. Silver
certificates, s. IA q So L.
BANK CLEARINGS.
New York Nov. s.-Clearings, sfsl-
81. SIS: balances. S5.ll2.07z.
Bcston-Clearings So. "a. SIS: balznc-
=. 81 ss91s5.
Philadelphia - Clearings. si25s7 .3c5;
,elances. 31,7s2. sii.
Baitinore-Bsnk cieariugs, S2.55f,lI7;
ALLIANCES. SSs7. IA
Chicago - Clearinzs. s1477e.iss: bal
noes, s.. 3s.4s5. Money firm. pe-
ent- Foreign exchange. 3s4I-2 @