The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-04
SCARED BY SILVER
STOCK MARKET TAKES FRIGHT
OVER THE SENATE VOTE


the Occasion of some London Selling
/ and Operates to Produce Fears In Ger
tain Quarters for the Success of the
Bond Issue, Which are Much Allsyed by
/ the Consideration OF the Probable Fate
OF the Amendment In the House-Mar-
/ ket Closes at Net Losses.
New York, Feb. s.-Today's stock
| speculation was almost entirely pro-
! fessionaL The volume OF trading
/ showed a considerable contraction com
( pared with the recent records and the
/ business was indifferently distributed.
I London, as had been expected, came
/ lower for Americans. but the losses
below New York parity did not reach
full figures. There was also some sell
( ing for foreign account in this market
on the passage in the senate OF the free
silver coinage amendment 20 the house
bond bill. The same influence was op-
erative in causing a lower range OF
prices. II was also feared that the
success Of the government bond issue.
as a popular loan. might be jeopard!z-
ed. Foreign bankers, however. held
conflicting views on this point. On the
one hand. il was suggested that the
largest expected German subscription
for the bonds. amounting 10 about 49,
0O0, 900 might be Withdrawn wholly or
in part. while other interests made Il
the point that IL was just as fully rec
ogniZed abroad as in this country that
defeat awaited the free silver meas
ure, either in the house, or al the hand
of the president. Domestic subscrip-
tions for the bonds were very large.
Bids for $50 600 were received by the
United States Trust company in the
last fifteen minutes Of business. and Il
is trustworthy stated that the insti-
tuition named will put in bid for con-
siderably more than one-nalf Of the en-
tire loan.
Sugar led the market in point OF ac-
tivity. Outside OF that stock the lar
gest transactions were recorded in the
grangers and Reading. The industri-
ais displayed the greatest weakness.
the declines being attributed 10 special
influences. General Electric yielded
25s per cent. 10 IA per cent. on the
discovery that no direct negotiations
had taken place between that company
and the Manhattan railway regarding
the proposed electrical experiments on
that line. Lead broke IL per cent on
the announcement OF the death of VII
liam p. Thompson, the president OF the
company. Sugar scored a loss of about
as much, on successive reductions re-
ported in the prices OF domestic refined
sugars, and on revived rumors OF i'm
pending action by the German reich
stag increasing the bounty paid on su-
CARS exported from that country. Mis-
railroad group, declining per cent
without attending explanation or gOs-
sip. The drop in price was eventually
accredited TO liquidation by insiders
The reactions in the balance of the list
were. as a rule, of less consequence
than in the stocks noted. Around l
O'Clock the market enjoyed a sharp
rally, in which Rock Island was most
conspicuous at an advance Of 1 per
cent. Covering Of shorts was the
handspring Of the movement, induced
partially by marked weakness in the
sterling exchange market. Posted
quotations were reduced 1 per cent by
a leading drawer and sharp concess-
ions were noted also in rates for actu-
al business. In the late dealings the
market was Hstless- The closing was
staeady at a rally from the lowest, but
the days opera tons.
The total sales OF stocks today were
~. 096 shares, including: American
Sugar II. 500; Atchison $500; Burlington
10000; Distilling and Cattle Feeding /
1920; General Electric 1900; Louisville !
and Nashville 5000; Missouri Pacific !
$500; Reading 12.40O; Rock Island TO- !
500; St. Paul 14.S00; Southern preferred |
1920; Tennessee Coal and Iron 1000: |
Union Pacific certificates $500; Wheel |
ing and Lake Erie $500.
The railway bonds ruled dull and
lower. The declines were material. |
however, in only one or two instances. /
The sales were 81 ,112, 900.
Governments were comparatively &C
tive, s67, 800 being dealt in at nOtewor>
thy advances over the bid quotations.
LOANS AND CLEARINGS.
New York, Feb. 3.-Money on call |
firm at 1905 per cent. Last loan
per cent. closed per cent Prime
mercantile paper 6GS per cent Ster-
ling exchange weak and lower, with
actual business in bankers bills at
sAS7AG4sS for demand and t4s64G
81 for sixty days. Posted rates S4s7
G4S7ll and :4sShG4sO. Commercial |
bills Sass Silver certificates GA a q.
New York. Feb. 3.-Clearings $50
IS, $50; balances $7,444. s31.
Boston, Feb. 3.-Clearngs sl3. 753. 01s: |
balances 81, SOC, S25.
Philadelphia, Feb. 3.-Clearings tl2.-
1889; balances $500. IA.
Baltimore. Feb. 3.-Clearings $685.
223; balances $305. 296.
ST.. Louis. Feb. 3.-Clearings 34,435.- |
331; balances 1888. +59.
FOREIGN STOCKS AND MONEY.
London. Feb. S.-Consols for money
los; for the account (March) JOSH: Ca
madam Pacific 5gh; Erie 1Siz: Erie sec /
onds IS; Illinois Central s9lz: Mexican
ordinary 1917: ST. Paul common 73Is
New York Central 100Iz; Pennsylvania
54it Reading ~; Mexican Central new
fours 6ast. Bar silver 20sd per ounce. /
Money Z per cent The rate OF dis
count IN the open market for short
bills 7sG1 per cent; three months bills
7sGlss per cent
London. Feb 5-Goli is quoted az
Buenos Ayres today 217.50; Madrid L.
g; Lisbon .; s.. Petersburg 20: A.h-
ems -: Rome los; Vienna I53
Berlin. Feb. 3.-The weekly state
ment Of the Imperial bank Of Germany
shows the following changes as com
pared with the previous account: Cash
in hand. increase 2.ss9.OO5 marks. treas
ury notes. increased i.ss0.000; other So
cur!ties. decrease 1880 90; notes 81
circulation. decrease :. 5s0.Gc1
Paris, Feb 3--Three per cent rentss
I02 francs. s7izc for the account: eI-
change On London . francs. &c for
checks
GRAIS NA-.KET
CHICAGO.
Furnished ~ p L BO5TTCK. Cozr's-