The Wichita daily eagle., 1896-11-22

,tiircctea sdr <gaanstg the
group. Hs&ceiif 7ifif ifav5raf3i Be returns
published and the predictions of contin-
ued light exhibits for some time to come
based upon the decreased movement OF
grain, were the arguments advanced in
favor Of lower prices. Liquidation was
evident in some instances and checked
tendency toward improvement in other
properties. Some Of the low-priced
stocks figured prominently in the de-
cline, notably Reading, Missouri Pacific,
and Tennessee Coal Decided weak
ness was also apparent in few Of the
usually inactive stocks, on very light
dealings, however. Consolidated Gas
was very irregular on moderate transac-
tons but left off at a slight gain. The
bank statement was exceptionally favor
able, showing, for instance, an increase
of s21, 937, 900 in deposits, but, in view Of
the decidedly easier monetary condi-
tons, eXerted no appreciable influence
upon prices. The closing was at the low
est of the day at net concessions, aver
Hging a point.
s2l, ,112 shares, including: Burlington,
1900: American Sugar, 500; Chicago
Gas, 1890; Louisville and Nashville, l.
400: Reading. 1,5C0: Rock Island, 5,lG0:
St Paul, II 800; Tennessee Coal and Iron
200; Western Union, $500; Wheeling
and Lake Erie, 400; silver certificates
$4,000.
THE WEEKS MOVEMENT.
The specula tive movement Of the week
was mainly shaped by the bear profes-
sionals and sold-out bulls, VINO made un-
ren.itting efforts TO force out long stocks
and precipitated decided reaction. The
Of, IL vi.
tendency towards lower level, result
which was chiefly brought about by a
material extension of the short interest
The developments bearing upon values
were mainly favorable to the advoca les
d depression and the bears made a spe-
cal play against the high-priced special
ties for effect upon the general list. The
fluctuations, with few exceptions, were
extremely narrow and the market finally
iapsed Into extreme dullness. Continued
egesticns of possible political compli-
cations in relation to the Cuban question
although not widely credited, deferred
tle general public, as well as leading
operators, from making ventures on the
bull side, and restricted dealings. Trade
reports were indicative Of a Quieter gem
pral movement and urfavorable returns
pat 2 damper upon the efforts % advance
prices. On tfe otrer hand, the decidedly
Easier monetary conditions, evidenced
by a drop in call rates to 1-2 per cent,
and in time accommodations to per
ccnt, 2S well as an urgent inquiry Tor
prime mercantile paper, facilitated the
carriage OF stocks and offset efforts to
induce liquidation. This condition would
also favor operations by leading stock
and also holdings against an unwieidy
rhOrt interests. The bulls cCntended
that il aas too early to admit of the
rejection in the earnings. of the inn
proved business conditions, while the
bears laid stress upon the reaction in
grain, which, it was alleged, would cause
Il lighter movement of east-boUnd ton
age. Foreigners were moderate sellers OF
cur stocks and bonds, being Influenced
10 an extent by the hardening rates for
money abroad. The traders hammered
Sugar on successive reductions in the
prices Of the various grades of the prod
ut and met no resistance il, indeed, they
were not assisted by insiders The spe-
cial argument against the stock was the
prospect of hostile action at the next
Session of congress.
Dealings in railway bonds on the ex-
change were on a considerably lighter
scale, although the over-the-counter in
vestment business was reported by dead
Ing houses as being heavy.
The failure of the Ryan syndicate 20
secure control of the Seaboard Air Line
caused apprehension of a renewal of rate
hostilities. Specific developments in
some properties were reflected in eXcep-
tional movements. Consolidated Gas
sharply advanced on a variety of bull
ish unconfirmed reports and Pacific
Mail responded to the resumption of div
iGend payments by a substantial i'm
pFovement. Reading was strong on the
formal organization of the new company
and prospects of material reductions in
rentals Of leased lines. American Splr-
its stock rose on manipulation by insid-
erss The general market left of weak
with prices at the lowest and showing
net concessions Of 1@3 per cent in the
leading shares. The aggregate sales
were 1,l02.622 shares.
BONDS.
Railwa- bonds were less active than
In the preceding week and there was an
abatement of the aggressive strength
then recordedin the inactive issues. Com
paratlve prices show concessions Of 1d2
per cent IN the speculative issues, en-
cept Reading. which was sustained by
the progress made in placing the proper
ty on more stable basis. Toledo, S..
Louis and Kansas City firsts trust re-
ceipts were conspicuous by a n drop OF
3 per cent 10 65 per cent, with subse-
quent recovery TO 6S per cent. The es-
S1eS3te sales were $S.45S, ,Vvp.
Governments wer quite active and pri-
ces well held. The sales were $40. 900.
Silver certificates were irregular. with
sn improving tendency, on transactions
of $4,000.
NEW YORK BANK STATEMENT.
New York, Nov 2l-The weekly bank
statement shows the following changes:
Reserve, increase S5.0Sl. $50; loans in
crease SO, ,553 400; specie. increase s4,206,
SOC: legal tenders, increase $1,01S.6O0; de-
posts. increase 1881, 500: circulation.
decrease Sl67, 200. The hanks now hold
s29.305.575 in excess of the requirements
OF the % per cent rule.
New York. Nov. 2.-The Financier
says this week
The magnificent showing made by the
clearing house hanks of New York City
for the week ending November 81 was a
matter OF surprise. even 10 bankers. who
had expected favorable statement, but
had not counted on the enormous in
creases which were reported. Deposits
expanded 10 the amazing figure of sel.-
a37. .S0o which is the largest total ever
recorded in a single week. while loans
ran up s9,55S, 400. Counting from the
statement of November :, the banks
have gained seS,95s. 900 in cash. white
loans have expanded only Sl2..S2.eo0
The ease IN money rates Is. therefore, no;
remarkable. 1t IS estimated that the
banks gained sS0c0,0o0 from the interior
movement alone during the week.
LOANS AND EXCHANGE.
New York. Nov. M.-Money on call at
21-2 per cent; prime mercantile paper
4l-2 per cent. Sterling exchange steady
with actual business in bankers bills
$i.S5G4.S6 l-2 for demand and s4S2 IA
@4S2 IL for 60 days. Bar silver 81.
Mexican dollars 80 SIS. State bonds
quiet Railway bonds firm. Government
bonds firrl. New tours ree7I'ar 1Iai-2.
coupons l19 L.; fves regular liz 81;
coupcn l.2 3-4: fours regular 10a 3-4: cou-
pon lo9 S-a; tyros regular 80; Pacific skies