The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-21
TREND is UPWARD
STOCK MARKET CLOSES At THE
DAYS BEST PRICES.

| }. In the Face of Tighter Money Mar
ket-Grain and Gold Situations are she
Eminent Bull FActors-Middsy Keac.
tion Recovered and Additional Gain.
Made-Raiiway Bonds Strons.
New York, Oct. 2e-The stock unarke.
today displayed q substantial increase
in activity and business was fairly well
distributed. Aggressive strength was
noted and in one or two cases the shorts
were severly treated. notably in Bur
Hngton and Chicago Gas. For several
days rumors have been current OF prob
able squeeze Of shorts in both properties.
| Especial significance was attached To
the fact that the largest buying orders
N the last mentioned stock were re-
cefved from banking house that has
| chiefly been identified with the manage
| n1snt- The extreme advance scored was
AS per cent, 10 e57s per cent. At inter-
walls the speculation was quite animated
and the dealings embraced number OF
the Usually inactive shares The up
ward course of prices again engineered
III the face OF a stringent money market
and again the chief motive power came
from the forecastin OF q continuation %
the present extraordinary grain move
ment and advances in the prices OF cere-
ais. An additional bull factor was the
reported engagement OF an aggregate
OF over 100000 in gold from Europe.
together with reports Of q car famine at
the west Higher London quotations
and moderate purchases for that &C.
sri rc.J
the opening. with the greatest activity in
sugar ard the grangers. Increasing
strength ruled until midday, when a re-
dictionary tendency developed on reali-
zatfons and Manhattan and Sugar.
which had earlier exhibited a sagging
tendency, IN contrast TO the general list
dropped is per cent and 81 per cent,
respectively. The other reactions were
trivial and the upwa Hrd trend was soon
resumed and on good buying for both
accounts further gains were recorded
Sugar ard Manhattan subsequently
made full recoveries. The extreme gains.
aside from Chicago Gas. extended in the
railways TO "a per cent in New York
central. In the usually inactive list,
Illinois Steel rose y per cent, Manhat-
tan Consolidated 81 per cent, Cotton Oil
preferred, New York Central and 81
Louis second preferred per cent and
Metropolitan Traction IL per cent
Wheeling and Lake Erie preferred
was in good demand at the close and
jumped to 295s per cent, against % per
cent, yesterdays final bid Money on
call ranged between 4ds per cent, clos
ing at 81 per cent, and in the afternoon
a slight stiffening in exchange rates was
noticed. The speculation in the late
dealings was timulated by a revival OF
strength in the wheat market. The clos
ing was at the best prices of the day.
Railroad bonds were strong and more
active. Texas and Pacific and Reading
second income IL per cent gain. The |
gains otherwise were less notable in the /
speculative issues. but Atchison, Colo !
RADIO and Pacific first figured for a rise !
of 213 per cent. The sales wewre 81 ,234,- |
900.
Government bonds made a further |
slight gain on purchases Of 3d. 900.
Silver certfficat ties were steady. The |
transactions aggregated 5000 at IS.
FOREIGN STOCK MARKETS.
New York, Oct. ao.-Evening Posts /
London financial caolegram: The I
stock markets were overshadowed ali /
day today by the prospect Of gold ship
rnents. Except for Americans. the clos
ing was at about the lowest. Cousols
Were i019s. Americans were good from
start TO finish, with a further rise in
the street. the higher prices for wheat
giving the stimulus today. Illinois Cen
-ral was especially good The Paris and
Berlin markets were dull.
London, Oct. 2o-The Bank OF Eng
ard today sold $4,000 pounds in Amer;-
a-rT. ~
Bar gold is quoted at as lid.
LOANS AND EXCHANGE.
New York. Oct. 20.-Mone~ on call
EASIER at 4GS per cent; last loan. per
,ent: closed, offered . per cent Prime
rarcantiIe paper. nomiHally. rae per
actual business in bankers bills at s4SS
z for demand and s4-S61a for sixty days.
Posted rated rates S4S0IaT4S2% and
4. S3Iz d4S5. Commercial bills sA7Sa4.
silver certificates 6512G4; bar silver
IA.
BANK CLEARINGS-
105, 156. 7a5; balances $500. G53.
Boston, Oct 20--Bank clearirgs siS,-
45.5s9; balances s1,52S.195.
Philadelphia, Oct. 2o.-Cleerings s11,-
II 6Q3: balances 81, So, 1876.
Baltimore. Oct. .e0.-CIeariugs s2,604.-
81: balances s34S, 267.
ST. Louis. Oct. 30.-Clearings s3.927.-
p: balances $31o,470. Money 6'dS Per
eEt; New York exchange Sl-25 discount
i'd; s100 discount asked.
BANK OF ENGLAND'S RATE.
London, Oct. e0.-The Times viii say
1 its financial article tomorrow: a
iSe il the bank rate IS almost ilevita bIe s
n Thursday. Considering that tfe rate ]
exchange does not make gold exports
r0itabIe, IL cannot be doubted that a !
rerT.-u=n IS being pad 70 the houses un-
these gold shipments by the ,
.me-ican banks. whose clients are Sc
I-ing II for boarding purposes. There
IRE i IS calculated that il Mr.. McsKa- {
y S elected most OF tbs boarding god ,
G1I eventually frd its way back" :
GOLD ENGAGEMENTS
London. Oct 2o.-SanueI Montague :
I'd sons state tEat today's large vita
-aTaI OF gold (:.53o.00D. n American
o,d. is owing 70 the advance n wheat,
lUch OF ti.e sixty days exchange falling {
IL ard the rate q exchange, II colSe- =
1e1ce being lower F,
New York. Oct. ee-The following
DID enga gsneuts for import are report
!: Kuhn. Loeb & Co.. $1,000 0eo. Bank :
: British Aalsrsca SOC. 900: Muller.
chau & Co, s975.o00; Kiddsr. Pez5cdy !
Co. II Boston. $50 GO; Lazari Ere
: 81 eco eoe; L. Won Hoffman < CO, r
~. 60; total s45e5.ooo.
GOLD RESERVE
Washington. Oct. e0.-Tae treasury r
day lost $3.50. so in god con ard $4,000
bars. which l-aves TIE true AMOUNT of :