The Wichita daily eagle., 1896-08-29
OUTLOOK is BETTER
STOCK MARKET RESPONDS TO TIE
IMPROVED SITUATION.

Iaxatios in Money Masfers-Day's Ar.
rivals Of Gold Consignments aud What
Use was Made 1hereof-Fereign Bsyiu<
of Americans Revived-Shares Close at
Best Fixarss-Clearing House Certif-
Gates Review of the Week.
New York, Aug. c1The transactions
n stocks today, while IN moderate
scale. were fairly wei distributed. with
the activity in spots For the frs time
the market appeared to reflect with some
degree of spirit the improving financial
outlook, which is chiefly based on the
substantial gold imports and the implied
relaxation Of the present stiffness il
money and in the commercial paper
market. Today'S incoming steamer
brought 81, 74s. 900 in gold, of which $780,
000 was deposited in the subtreasury IN
exchange for legal tenders, and news
of further orders for the metal was re-
ceived, bringing the total engagements
up to over $12, ,000 600. AS foreshadowed
in these dispatches substantial amount
OF the imports VIII be turned into the
subtreaSury. Other now familiar con-
drrions were further weakness IN the
exchange market and a distinctly firm
loan market, although the bulk of the
loans on call were made at or below Z
per cent The advocates OF higher
prices for stock excflange securities were
gratffed by more favorable state>
ment of operations for July by the Bud
hngoon than had been expected. The
report showed an increase in surplus
nf dsSff- Of r-~-
the same month last year. Actual rates
for deman exchange fell to $4.s3Is64S3
q. and posted figures were twice reduc-
ed, per cent in the aggregate, TO s4s2ls
for bills. A feature of the dealings
was a revival OF foreign buying of our
stocks and bonds. The opening was
strong and fractionally higher, with
the more important gains in nhe IN
dustrials and Sugar. AS the morning
progressed, the market continued to
erend higher and a decided inquiry was
noted for some Of the Industrial prop
critics and specialties. The dealings
generally were marked by a more conn.,
dent sentiment. The more extreme ad-
vances were IN New Jersey Central, 81.
per cent; Manhattan and Burlington, 2la
per cent; Tobacco and Western Union,
2 per cent; Louisville and Nashville,
and Rock Island, 1A; Leather prefer
red, q Q1h per cent in Lake Shore. Con-
solidate Gas and Narthwessern. In
the specialties Illinois Steel advanced
per cent, to 3S1s per cent. with a reac-
tion to 3e1s per cent In the loacti|.
list. Michigan Central and Lead pre-
ferred rose 2S per cent and other shares
Of this class averaged an Improvement
OF a point The market had sagged
slightly from the early top figures on In
creasang tension in the money rates,
aside from Manhattan and Tobacco,
which yielded 1 per cent and IL per
cent, respectively. Later the general
list resumed the upward tack and the
market closed at about the best figures
of the day.
The total sales of stocks today were
129, 100 shares, including the following:
American Tobacco, 400: American Su-
gar, $500; Burlington and Quincy, H.
500; Louisville and Nashville, $500; Man.
haitian Consolidate, 400: Reading. A.
500; st. Paul, 24,500; Western Union.
Is, 500.
The bond market exhibited decided
strength. The speculative issues were
in good demand, particularly those with
an International market. Southern 5s
rose per cent, and Atchison generals.
11s per cent and Atchison adjustments
1% per cent The sales were $3.50. 900.
Silver certificates eased off to 81 per
cent ON sales of $4,000.
Government bonds were active and
generally firm, on dealings OF $13e 600.
FOREIGN STOCK MARKETS.
New York, Aug. 2s.---Evening Posts
financial cablegrams:
London---The stock markets were |
fat today on the renewad gold ship |
ments to the United States and on the !
of dearer money. There was |
a slight rally at the close. Americans |
were fair on the growth Of the belief |
that the gold shipments were iegid- |
mate transactions based on produce |
coming for ward. Coupled with the |
fact Of the recen falling off in gold i'm |
ports, the suddenness OF the entire af- |
fair and the rapidity Of the fan In ex-
change may We'll account, however. for /
the opinion still held by SINE that the |
gold shipments are artificial Ameri- |
;ans closed a fraction under the best
Paris--Th ebourse was better. clos
ng easier.
Berlin--The market was steady.
REVIEW OF THE WEEK.
New York Aug. 23.--Bradstreet's
'eview of the New York stock market
tomorrow wiz cay:
Changes in stock market values for /
ne past week have, on the whole, been
The speculation has been
II the most strictly professional kind
Commission houses have done. TO all
appearances, virtually nothing. but the
arger operator waited. though at the
md OF the week there was an appear
lnce OF covering, which could only mean
hat the big bears did not like the sit
iation and that some, at least, among
he more prominent class Of specNlators
we're inclined to take tne bull side OF
ne market for a turn Europe has
lot been a factor in any true sense.
little alternate seFfng and buying
rom that quarter summarizes its ope--
Ltions In our market. The whole spec
llative situation, IN fact, hinged on the
Iction Of money and exchange. and on
ne large imports tions OF gold. which
ave followed the break In foreign ex-
:hSuge rates This and other things
would seem TO be responsible for the
ne decidedly more cheerful feeling |
which Is now asserting itSe1 n specu-
atve quarters
No clearing hous. loan certificates
we're issued. and 81 would seem tbzt
srious opposition to such acton devel-
ped Ii the clearing house. not only be-
ause the stronger hanks would vir;1-
lly have 20 carry the ones whose re-
ou,ces were widely Distributed. bot
Or the resson that there IS due appre-
ciation oS n uasavora5Is influence
z an undue assumption at this crisis
D the countryfs financial history. CT
slch positive control over ne rnooey
lsrke; On ne part OF the banks Of zhis
ity as TIE step IN question involved.