The Wichita daily eagle., 1896-12-11
AFRAID TO VENTURE
CUBAN AGITATION MAKES sEoURI.
TY-HOLDERs TIMID.
Bear Leaders Keep 1t up Against the High
Priced Specialties as Inexpensively ae
Posstble-Railway Earnings are Matter
for DiscouraGement-Lond Influence
Prominently In the Days Dealings -
Break ia Consolidated Gas Closing
Weak at About the Lowest.

Prominently In the Days Dealings -
Weak at About the Lowest.
New YorVk, Dec. 10-UntiI the Cuban
resolution agitation at Washington is
over, prominent security holding inter-
ests declare that they will not commit
themselves in the market, and for this
reason spells Of intense duliness are not
ed. a contributory influence is the in
disposition on the part Of the bear lead
ers to extend their obligations merely
while il is so difficult to shake out long
stocks The last mentioned faction con-
tinLes to work against the high-priced
speciaities for effect upon the general list
but. is careful to lose as few stocks as
possible in its operations. Regardless Of
other considerations, the advocates of
higher prices for securities are chilled by
the unfavorable character of the exhi-
bits of earnings made by a number of
the leading lines and by the material con
traction in general trade, as partly indl-
Gated by the abnormal ease in money
and scar city in mercantile paper. Lon
don also fails to figure to Gny note
worthy extent as buyer Of our securi-
ties and. in fact, in some shares is sell
e.
AS rule the specialties were affected
today by peculiar considerations, induc-
ing liquidation. The market opened at
general improvements, despite a heavy
decrease in the st. Paul earnings for the
first week in December, which had been
expected tG materially resist the bears
in depressing prices. London, contrary
TO the theories of the trade, sent liberal
buying orders for the stock, which were,
however, inferred TO represent coverings.
This unlooked-f0r development impaired
frnness to the general list. Reading
was subjected to a raid soon after the
opening, on rather vague rumors of i'm
pending proceedings by the Pennsylva-
MIA state authorities against the Read
ing railway organizations. Consolidated
Gas made q further break of 21a per
cent, to 15311 per cent, on the agitation
for reduction in the price of gas and
the organiZa ton of the Consumers Fuel
company. Subsequently the stock f1uc-
tuated widely and finally left off at 155
per cent Long Island was again con-
spicuous by a break to AZ per cent, as
compared to 81 per cent, yesterdays fin
al closing transaction. The stock later
rallied to 20 per cent. The substantial
declined . per cent, to As per cent, on
the statement that the dividend had
bele passed. This decision was not made
known until late in the day, although the
directors had been in session the greater
part Of yesterday. The market at times
bUrdered on virtual stagnation, and the
fiuctua tions, ds rule. lacked import
ance, until receipt Of Washington Cuban
agitation advie es encouraged a bear dive
under which many leading shares yield
ed a point, or thereabouts. Cleveland,
Chicago, Cincinnati and st. Louis broke
2k per cent on the expectation Of con-
tinued unfavorab.e reports of traffic re-
turns. The closing was weak, with
prices at about the lowest.
The total sales of stocks today were |
1859 shares. including: American Su- |
gar 26. 200; burlington $500; Chicago Gas |
0, 500; Consolidated Gas $500; Manhat-
tan 1900; st. Faul 1900; Western Union
3, 100
The railway bond market was fairly |
active and with the exception of heavi- |
ness in some of the speculative issues. |
the tendency of prices was upward. |
Union Elevated firsts were conspicuous |
for slump Of s per cent, with a subse-
quent recovery TO 721s per cent. The net |
gains in the general list ranged from l to |
per cent. The sales were s11, ,652 900.
Governments were a shade higher on /
of 5000.
New York, Dec. 10.-The stock ex-
change viii be closed on December 26,
the Saturday following Christmas day,
but will be open on Saturday, January .,
owipg to the large financial settlements
iue January /.
FOREIGN STOCK MARKETS.
New York, Dec. 10.-The Evening
Pests London financial cablegram says.
The stock markets opened dull to-
lay hut closed better ali around, with
he bears covering. Busenss was quiet
With good undertone. The rise in mo-
ley rates has little effect, because it is
usual at the end of the year. The rise
u Indian exchange is closely watched,
md council bills sold today at nigh as
3 1882. Brazil bonds continue to rise.
:. IS reported that today's Withdrawals
rom the Bank of England and for
egypt forms a part of the half million
pounds 10 be paid by the British gov
in return for the advance made
" the Egyptian government for the
'oudan expedition but / believe that
uch is not the case. 1t is probably an
rdInary transaction. The Paris and
Serlin markets were firm. There was d
etter tone in Paris, where each month
passed should mean a safer
position, which is by no means
lear yet
GRAIN AND PRODUCE MARKER