The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-14
LONDON LEADS OFF
QUEENS SPEECH Has SOMETHING
TO DO WITH THE CASE
onciliatins Tone of the Government on
the Subject OF the Venezuelan Trouble
Reflected in the Stock Markets in Both
Commercial CspItaIs-Americ2ns More
in Demand and Orders in the Market
on This Side-lnfiueace of Congressional
Action on Sflver-Railroad Earnings
Great DoIngs in Tobacco.

New York, Feb. 13.-Business after
the holiday started in under the stimu-
lating influence of higher prices for
American stocks in London and buying
orders for the account in this market.
chiefly for ST. Paul and Louisville and
Nashville. This condition Of affairs
was mainly attributable 10 the concilia
tory tone or the queens message in re-
lation TO the Venez. uelan imbroglio.
The local market, while somewhat less
active than that OF Tuesday, and ire
gular al times, exhibited an undercur-
rent Of strength that was as surprising
as it was unpalatable 10 the profession
al bears and the bulls without stocks.
Influences bearing upon special stocks
We're the annual report Of the Ameri-
can Tobacco company, the decision al
Albany favorable 10 the Chicago Gas
company, in the Pitt-Barrows case, and
strong and higher market for domes-
tic and foreign sugars. In the late
dealings the market was stimulated by
Washington forecasts Of a decisive
free silver defeate by the house COM
mittee of the whole. Railroad earn
ings that came to hand were as a rule
favorable. and experienced judges OF
the commercial paper market predict
ed an easier turn, provided money
rates continued on about the present
basis. In purely speculative circles
a pessimistic tone prevailes on the sub
ject OF the probable actual results OF
the new government loan and predic-
tons OF resumption were freely made.
The market opened fairly active and
hx-
an advance of 1 per cent on a favorable
exhibit Of earnings for the past year.
in the face of the severe conflict that
has been waged with manufacturers.
The report, however, did not make
clear the reason for the gloomy stand
taken by the management in regard
to the last dividend. Other important
but less material improvements occur
red in Sugar. Chicago Gas. General
Electric and Louisville and Nashville.
Tobacco led the entire market in point
OF activity and the extreme rise in II,
as compared with Tuesdays final sales.
was IS per cent. Offerings by insiders
and realizing by the traders were re-
sponsible for a recession TO S0k per
cent a covering demand for the
shorts sent The price up to S2Ik per cent
at the close. Manhattan was well sup
pcEOcu, gaining - per cent. Win a SUD-
sequent break 10 1O912G1OO per cent.
The manipulation OF this stock for some
time past has baffled all reasonable in
depreciation. Up TO midday the move
ment in prices had been somewhat er-
ratio, but after that hour the entire
list developed decided upward ten
dency. in which the grangers. coalers.
Louisville and Nashville, Chicago Gas
and few other shares made the great
est progress. The news of the decision
of the attorney general of this state,
denying the motion for an Injunction
to restrain the Central Trust company
from participating in the consolidation
of the Chicago companies, carried the
price of the stock up 81 per cent. New
Jersey Central advanced 31a per cent,
presumably on covering of shorts. The
grangers and Louisville and Nashville
lq2A per cent, the last mentioned max
ing the eXtrc le rise. Missouri Pacific
declined rs per cent and subsequently
recovered almost all of the loss without
explanation. The stock of the Brook
Ign Rapid Transit company, the sue
cessor of the Long Island Traction COM
pany, was traded at 212s 2315 per cent.
The closing was moderately active and
strong at the best figures of the day.
Railway bonds Were less active than
usual recently, but an upward tendency
was noted. The sales aggregated ST.
o62 900
Prices Of government securities were
shaded somewhat on trading amounting
to S575, 00O