The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-24

livery Hour, the Selling Movement Sub
siding-CI Closing Is Steady But Very Dull
| New York, Dec 23-Today's stock
market was OF holiday proportions, and
| the course OF prices indicated desire
| to even up CONTRACTS on both sides be-
| fore the impending protracted holidays.
| Trading came to a positive halt, occasion
ally, and the moderate business was az
| most entirely for professional account.
Prices move irreguiarly, but an under
current OF strength was noted. For some
time past efforts to shove cut long stock
have, as a rule, disturbed only small
holdings, and today covering of shorts
was the basis OF Improvement in spots.
FoFreign dealers appeared Indifferent as
regards our stocks, but late in the day
sold New York Central, Lake Shore and
others of the international shares, result
ing in material declines in the two last
! mentioned. The selling was induced by
the reduction in the Canadian Southern
dividend for the half-yeaT. Manipulation
in the industrials caused some decided
gains and impaired sympathetic strength
to the general list. Towards the close
realizations impaired the tone Of the spec
uiat:ons.
The market opened at a slight shading
| in prices, but fffrnness soon developed
on purchases by the bears, which.in the
case of the Burlington, carried the price
up an extreme l per cent. The anthracite
coal shares were well supported on the
improved outlook for the trade and the
re-assuring advices regarding the pro-
bable action on the 1897 dividend by the
Delaware and Hudson directors. The
stock rose 2ss per cent and New Jersey
Central IL per cent. SGsquehanna and
Western preferred fell 2 per cent, but
recovered half of. the decline. Tobacco
common was active and rose 2 per cent,
and the scrip made an equal gain, on
revived dividend rumors \ partial re-
action followed on the lack of official
confirmation of the reports. The after
noon specula ton was characterized by in
tervals of semi-stagnation, and the fiuc-
tuations were without importance until
near 2 O'Clock, when, on the selling pre-
viously referred to, New York Central
and Lake Shore dropped 2A per cent.
The selling movement subsided around
delivery hour, and some rccoveries occur
red. Chesapeake and Ohio became ac-
tive and rose IL Der cent, TO 1914 per
cent. There was no news to account for
the movement in the stock. The closing
was teady, but very dull.
The total sales of stocks today were
1929 shares, including: American Su-
gar, 1890; Burlington and Quincy, 49,,
400; Chesa peake and Ohio, 1890: Manhat-
tan, 5000; Reading. 1900; Rock Island,
3,1Go; st. Pau. 11,0o0; Silver certificates,
10000; Wheeling and Lake Erie. 800.
The bond speculation was quiet and un-
interesting, but prices We're fairly we'll
sustained. The sales were s1O3,0
&c
orally lower. The sales were $4,000.
Silver certificates were stady on sales
OF $4,000. at 651l.
New York, Dec. 23.-The Evening
Posts London financial cablegram says:
The holiday appearance continues in
the neglected stock markets. Americans
were lower today in sympathy with New
York. The bank failures in the United
States viii. perhaps, deter purchases here
of Americans, but they do not cause reali-
cations. Those well informed had look
ed for something of the kind and they
expected more. F'inancie-s here still con-
cur in plasing a lower estimate on Eng
lands Indebtedness to the United States,
as reflected in boarding sterling bills,
than New York cables report. The min
ing settlement will begin tomorrow, but
no business is looked for. The Paris
bourse and Berlin market were steady"
LOANS AND EXCHANGE.
New York, Dec. 3.-Money-Money on
call easy al IL per cent; mercantile pa
per, 312a41a per cent; sterling exchange.
steady, with actual business in bankers
bills at s4.S74@4.S4 or demand. and at
4.S3i2G% for sixty days; posted rates,
ss4. S41a@4.S5, and s4.S712G4SS; CONNER
cial bills blank; silver certificates. 6515m
z. no sales; bar silver, co.'s; Mexican
dollars, 50$4.
BANK. CLEARINGS.
Philadelphia. Pa, Dec. 2S.-Clearings,
$l0,SlS,25S; balances, sl.649, I'll.
Baltimore, Md, Dec. 23.-Clearings, 81
Ss5.2l0; balances, 1922, 97S.
st. Louis, Mo-, Dec. 23.-Clearings, 81
239,39l balances. s421 .0OS. Money, 5G7
per cent. New York exchange par bid;
% cents premium asked.
INDIAN BANK NOTES.
Bombay. India, Dec. 23.-The banks of
Bengal ana Bombay have raised their
rates of discount to 10 per cent.
RUBBER DIVIDEND.
New York. Dec 23.-The directors OF
the United States Rubber company, at a
special meeting this afternoon, declared
dividend of , per cent on the common
stock. The only previous dividend on
the common stock was 2lc per cent, de-
ciared in March 1895.
GRAIN AND PRODUCE MARKETS..