The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-18
FIGURES MOVE Up.
FIRM TONE CHARAOTERIZES STOCK
DEALINGS.

Speculation Mainly Confined to the Home
Account General Market Early De
pressed by a Realizing Movement-De-
preston Checked by Purchasing Orders
and the Gold Reserve Report-sharp
Covering Advances Industrials aud a
Few Of the Railway Lis;-CIose Near the
Days Best Figures.
New York. Feb. 17.-Speculation on
the stock exchange today was mainly
confined 10 the home account, owing
10 the fact that the London stock mar
ket was SO narrow as 10 afford little
opportunity for arbitrage operations
here. There were, however. some
small purchases OF s.. Paul and a few
sales Of Louisville and Nashville. Wa
bash preferred and Ontario and Wes,-
ern. The local trading was in Lighter
volume than Of late but the dealings
were characterized by a DECIDEDLY
firm tone and the trend of figures was
upward \ factor for strength was
The lack OF q pressure 10 sell in any
one OF the pools, except that during the
morning there was some professional
selling Of Manhattan, resulting in
break in that stock of pa per cent from
the closing price of Saturday. II was
expected that several stop orders
would be uncovered on the way down
in view OF the unfavOrable quarterly
report published on Saturday but only
one such order was disclosed and sub
stantial support being accorded 10 the
stock a sharp rally took place. sending
the price up 10 1865 per cent, a gain
of 37s per cent from the low point, the
closing being q per cent below the top.
The general market was somewhat de-
pressed in the early trading owing 10
the development OF realizing move
ment which quickly spent its force.
though assisted by lower prices from
London. The industrial shares were
weakest but the only reactions ex-
ceeding fractions Were in Sugar and
Leather preferred, which yielded l per
cent each. The declining tendency
was checked before midday by the ap-
pearance of purchasing orders in the
leading shares and the announcement
that the government gold reserve had
been increased TO over $780, 900 help
ed the upward movement. There was
some sharp covering in the afternoon
which resulted in gains Of rs per cent
in Sugar 2h per cent in Leather pre-
ferred, per cent in Tobacco, IL per
cent in Chicago Gas, 2ss per cent in
New Jersey Central and a fraction in
the rest of the list. Pacific Mail was
an exception and fell off Y per cent on
a rumor that 6 misunderstanding had
arisen between that company and the
Panama railroad as to the amount OF
business turned over to the railroad
from San Francisco under the agree
ment between the two companies. In
the late trading the market was rather
quiet but was strong in tone and the
closing prices were at OF near the best
Of the day.
The bond market was quiet but gen.
orally firm. The Northern Pacific is
sues were conspicuous in the dealings
and displayed pronounced strength, the
seconds gaining Ia per cent and the
threes and collateral trust skies 2 per
cent Other important improvements
were noted as follows: 81. Louis and
San Francisco Trust f1ves 5 per cent;
Duluth, South Shore and Atlantic fives
pa per cent; Ann Arbor firsts, Louis
vile, New Albany firsts 1ia per cent;
Loyng Island fives IL per cent and
| Chicago Gas firsts and Seattle. Lake
Shore and Eastern firsts trust receipts
1 per cent The action of holders OF
Oregon Improvement firsts in combin-
ing for mutual protection owing 10 a
default IN the semi-annual interest, was
reflected in a drop In the issue OF 61a
| per cent, TO soy per cent; Oregon I'm
provement consol fives trust receipts
also fell 2 per cent, to 30 per cent. The
| aggregate dealings We're $1,000. 900.
The government bond market ruled
strong and higher with a continuance
Of the trading in the new fours coupon
at 1163sG& per cent. The total sales
| were s5S0.251.
BANK CLEARINGS.
Philadelphia, Feb. 17-Clearings So
443, 253; balances s., 291.1 69.
Chicago, Feb. 17.-Clearings S14.701.-
SOL. Money firm al per cent for call
loans and 6g7 per cent for commercial
paper. New York exchange 20 cents
discount. Foreign exchange firm; bank
ers London sterling S4.s71AGs4-S7.
ST. Louis, Feb. 17.-Clearings "a. 49,
401: balances s47s.521. Money 6aS per
cent New York exchange % cents dis.
count bid par asked.