The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-06
STOCKS ARE LOWER
MARKET REFLECTS WEDNESDAYS
PROFIT-TAKING.
Railways Again Occupy the Center Of the
Stage, But the Industrials are by No
Means Lacking in Prominence-Aggre-
gate of Dealings Again on q Large
and to Some Purpose-Moncy Market
Easier Tobacco Plays Over Ten-Point
RsnSe-Reaction in London.

/
Rsnse-Rezction in London.
New York. Nov. 5.-The railwa,
shares as a group again today absortet
more speculative interest than the indus
trials, although some notable move
ments occurred in Sugar, Tobacco ant
Chicago Gas. The market reflected III
enormous profit-taking on the boom yes
/ terday, and although the total transac
tons fell short Of Wednesdays record
by about 127, 600 shares, the operations
during the last hour were as animated
and upon as large a proportionate scale
as on that day. Extreme irregu,aritJ
! characterized a number Of stocks, par
ticularlyrin the industrials and special
! ties. and the course of prices trended low
! er, the declines being accelerated by 3
renewal Of street jobbing rumors of i'm
| pending Cuban complications. London
was not a noteworthy factor in the spe-
! culation ard there was but little in the
way of important new developments, al
| though an easier condition OF the money
and commercial paper markets was not
! ed, the time funds touching a minimum
| of per cent. for all dates. This condi-
ton was partly responsible for further
hardening in actual sterling figures, but
! the rise was also attributed to the tenn
porary indisposition OF leading houses 20
draw bills, while on the other hand the
demand from importers was reported
somewhat urgent. The star performer
was Tobacco, which made a teH-point
fiuctuation. The stock sold down rs per
cent early, TO 7S1s per cent, jumped TO "a
per cent on the declaration of "a per cent
dividend and finally slumped rapidly, and
without other explanation than realiz-
ing, to 7s per cent. Manhattan fell per
cent, to SO per cent, rallied later to 9714
per cent and reacted 10 95A per cent at
the close. Sugar declined rs per cent TO
11Sls per cent, rallied TO 119 per cent, re-
acted to 116A per cent and finally rallied
about a point. The market after having
exhibited sagging tendency in the
forenoon speculation upon a considerably
diminished volume OF business, as COM
pared with Wednesday, developed ag-
gressive strength around midday, under
the leadership of Tobacco, and the best
prices Of the day were then made.
Around delivery hour the advance was
stemmed and the market became excep-
tionally active and excited on the Cuban
war rumors referred 10 above and prices
slrmped all along the line. Special pres
sure was directed against the industrials.
Tobacco breaking 5 per cent. Sugar SIS
per cent and Chicago Gas ~ per cent.
Til railways yielded 1a1& per cent, the
grangers, Reading and Manhattan lead
irg. The closing was weak at sharp frac
t:cral net declines generally.
The total sales of stocks today were
459, eSS shares, including: American To-
hanND c(A. A "a AiA
Burlington and Quincy $1,000; Chicago
Gas 81, 800; General Electric $4,000; Louis
vile and Nashville 1880: Manhattan
900; Missouri Pacific 300: National
Lead 3400; Reading 1920; Rock Island
1880; st. Paul Sc, 200: Tennessee Cial and
Iron $500; Union Pacific 16 1000; Western
Union 5000; Wheeling and Lake Erie g.
800; Southern Railway preferred 500;
silver certificates 5000.
The railway bond market was less &C
tive but showed decided weakness on
rrcfit-tahng. The Atchison and other
leading issues were sold freely, with COM
parative prices showing general conces-
sions. The sales were s2,212, 900.
Governments were weak and lower on
sales of $4,000.
Silver certificates showed strength and
moved up y cent on purchases of 81. 600.
"A NATURAL REACTION.
New York, Nov. 5.-The Evening
Posts London financial cablegram:
The stock markets here showed a nat
urai reaction today. Americans were
unsettled, as is always the case when
dealings are so largely in options The
tone is still hopeful. however, and there
was considerable investment buying by
the public of low-priced gold bonds |
no Sh ri ;c -tiI
one. Mines were better. New York ex-
change is watched eagerly. the London |
money market literally hanging on it. |
The tendency of money will be easier |
Until the next gold shipment to New !
York is announced. The bimetallist !
manifesto. claiming the election in the /
United States as a bimetallic victory, |
;auseS amusement. The Paris bourse |
vas quiet, the settlement being salts /
'ectorily finished. The Berlin market 4
vas steady.
London, Nov. 5.-Consols for money
90 rs; for the account, log 3-S; Canadi- J
IN Pacific. 60; Erie, Is rs; Erie first pre- /
erred, 81 S-4: Illinois Central, SO; Mexi- |
an ordinary, 20 "a; St. Paul. comon,
o 1-2; New York Central, SO: Pennsyl- /
-ania, So IA: Reading. Is 10: Mexican
,entral new tours, 90: bar silver. % 49,
cd per ounce. Money L. per cent.
he rate of discount in the open market |
or three months and short bills LA |
5-S per cent. The Bank OF Ensland's
ate OF discount remains Unchanged at
per cent Gold is quoted at Buenos
Ayres today al 1890: Madrid. 1926:
lisbon. 81; Rome, 10S.S5. The amount
{ bullion withdrawn from the Bank OF
England on balance today. ia. eC0
iounds. Bar gold IS quoted at as I'D. /
Paris. Nov. 5.-Three per cent rentes
Def 81 1-2c for the account Exchange
n London 25f zoe for checks.
Berlin. Nov. 5.-Exchange on London
light days sight 20 marks IS LIZ pfen-
igs.
CHICAGO STOCK EXCHANGE
Chicago. Nov. 5.-After having bean
losed for over three months. the Chi
ago stock exchange was re-opened to-
ay. The opening was attended with
o excitement and though one or two
mall failures were expected they failed
, materializs. the most OF the traders
ed IN allegiance by the closing Of the
having been amica5ly settled.
LOANS AND EXCHANGE.
New York. Nov. 5.-Money on call 4Ts
p cent; prime mercantile paper car per
M: sterling exchange firm and high- -
it'll actual business in bankers bills a.
"a 1--di.s4 ga for demand and s4sf
I for 50 DAYS; posted rates AsII-sT
50 1-e ard Sls5liss; commercial bis
so: bar silver 81 L.; silver certificates
3-iG651s
BANK CLEARINGS.
New York. Nov 5.-Clearings. sIIssIe
2; balances, s.. SEA. SSl
Boston, Mass. Nov. 5.-Cleariags, SIS
! $50; balances, Si.Sl.4s5- :
Phils ieiphia, Pa, Nov. 5-Clearings.
>. 81. So: balances. s2.li1.5I5