The Wichita daily eagle., 1896-12-25


men., Resulting in a Strengthening at
the Close Week Reviewed as to the
CubaE War Scare and the Northwestern
Bank Failures-Londou Without Life
or Feature.
New York, Dec. 2i.-The stock market
today reflected general disposition 10
carry lines over the three days holiday
and in consequence the trading as rule
lacked significance. AT intervals the
stock indicator was nlotioniess and the
fluctuations recorded were in the main
narrow. LcnGon prices for American
securities came higher. and the arbitrase
operations were On very limited scale.
In the speciailies the wide ranges were
noted. The continued cheap gas agi'a-
.ion and suggestions OF impending unfa-
vora pie legisla ton at Albany were re-
spcnsible for weakness in the local gas
shares. Consolidated declined AZ per
cent to 1884, per cent, and appeared 20 be
absolutely without support, Dut later raj
lied on coverings To 14l per cent Long
Island was also a prominent feature and
after decline OF per cent. to 42 per
cent, was offered down 10 S112 per cent
or seller 60-day options. The stock clos
ed 1t % Per cent bid. SO per cent asked.
Delaware and Hudson, on moderate deal
ings, male a spirited advance of 1ls per
cent, an1 Manhattan also rose 81 harpiy,
but failed 10 held the improvement The
general market exhibited firmneSs
Throughout, with the Vanderbilt shares
prominent. In this group New York
Central advanced rs per cent. TO 93ia
per cent. and closed at 9i per cent bid.
The declaration of the regular quarter
ly dividend of 81 per cent on Lackawan-
m eXerted a strengthening influence up
on the anthracite coal stocks. but buSi-
ness in them, as in the other shares, was
at a minimum The two per cent dis
burSements on Rubber common, reported
late yesterday. was followed by gain
Of 12. per cent in the stock. but the pre-
ferrei appeared to be neglected and lost
All important fraction. The market clos
ed firr, at slight net gains.
Total sales OF stocks today were So
792 shares, including: American Sugar
$500: Burlington 5.6Co; Consolidated Gas
1900: Reading ECO; ST. aPul 500; silver
certificates sI,000.
Railway bonds were stagnant, but gen.
orally hrm, on narrow changes. The
sales were s74S.o00.
Government. bonds were extremely
dull, but we're steady on sales of $1,000.
Silver certificates were active, but
shade ioYer on dealings of $4,000.
The stock exchange viii be closed on
account of the Christmas holidays until
Monday, December 2S.
New York. Dec. 24.-The Evening
Posts Lon6on financial cablegram says:
'The stock markets continue TO be
ic1fa fa-r 1fQv1c m
mines are stiffening because of the dear
ness of money at the end Of the year.
Americans. which were good today, mere
" followed the New York lead. Argen-
tines were good on Ror1ero's iresigna-
,ions. which is said to be OF benefit for
national, but bad for PROVINCIAL, holders.
The money market was 1irm- American
bills have been offered rather largely for
the last two days, to arrive on January
at 81 per cent. The Paris bourse was
steady and the Berlin market quiet. The
German papers report that half NIL
lion in gold has been taken from the
Reichs bank for Japan. am able TO
deny this up to the present"
BRADSTREET'S STOCK REVIEW
New York, Dec 24-Bradstreet's re-
view Of the stock market will say:
A rapid recovery followed the depres-
siou III SlOCh falucS dl luc Siiu VI idSr
week The street quickly realized that
the situation created by the senate for
eign relations committee, in giving ia
v6rable report 10 the resolutions ac-
Cuban independence. lack
ed the gravity of the Venezuelan matter
q year ago. London failed to show any
fright. and buying from That quarter
was supplemented by large purchases
70 cover short contracts, so that on last
the market rega,ned more or
less OF the ground it had SO rapidly lost
on the break of Friday. The 18th inst.
The current gossip ascribed no small
portion OF the bear covering to Wash
icgton interests, which naturally tend
ed to diminish the fears that the Cuban
resolutions would lead 10 serious action,
ana the fact that the senate itself laid
them over on Monday until after the
holiday re cess, together with indica
tions that the house would fail to con-
cur in the proposed action. deprived the
matter of significance. The market con-
tended to improve still further
during the earlier portion of the week on
continued short coverings on the belief
that the adjournment of congress for a
two weeks recess would afford opportu
nifty for speculative discount OF the
investment demand and Improvement in
business that is looked for after Janu-
ary l. This disposition was, however.
checked by the development OF banking
troubles In the west, including the failure
= educational Bank OF Illinois, az Chi
ago. and the Bank OF Minnesota. at
st. Paul. both institutions bringing down
with them a number OF minor banks
and firms in their respective viciniries.
The disturbance in the financial situa-
ion at Chicago had, however. little or
20 influence here. as the superabun6ant
supply Of funds enabled the New York
banks 20 render all needed assistance 10
heir Chicago correspondents without in
my way curtailing their own loans. and
while speculative Interests at Chicago
ire naturally threatened, the fact that
heir activity had been confined 10 local
and was almost entirely bas-
a on local capital, prevented the in
iJence from extending TO this center.
Prices were therefore only slightly af-
'ected, and al the end % the week the
market assumed a dull holiday appear
lnce, the chief activity arising simply
rom the desire of professional traders
o close up contracts and stand clear /
II the market over the three-days hoi.-
lay, which results from the closing OF
he stock exchange On the Saturday af-
ar Christmas AS there is a consider
lbIe short interest outstanding. this ten
iency resulted n considerable covering |
md gave a tone OF strength 70 the con- |
iuding transactions Of tne week.
BANK CLEARINGS
Philadelphia. Pc. Dec. ei.-Ciearinss
8 .saS SIS: balances 81 .j35, ,l97.
Baltimore. Md. Dec. 24-Clearlnys 81 |
IS. zse; balances S3"s. .sSa.
So. Louis. 40. Dec e4.-Clesrings Sc
81 80. balances SS7S.2l3- Money 5G1 |
,er cent New York exchange par bid; /
; per cent premiGrn asked
GRAIN AND PRODUCE MARKErS.
KANSAS CITY