The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-15

Own Way in the stock Market on Higher
London Prices, international Trade
Figures, Weaker Exchange Market,
Further EnEageVrnss of Gold and Other
Iiems, Until Bidding up of Call Money
in the Afternoon-Closei is, However, at
Fractional Net Gains.
New oYrk, Oct. 14.-The stocks mar
ket was more active than usual today
and the distribution of the dealings was
also widerThan of late. The industIaals
held the first pace in points OF activity
as a group, but fair volume OF trans
actions was also recorded in number OF
the specialties and leading railway
shares. Manipulation was a gain a
distinct feature in the operations. The
course OF prices was Irregular and the
fluctuations wide in many Instances
The market displayed special strength
at the outset on variety OF favoraSl
m fiuencs5. London prices came high
CT and the local sentiment was affected,
N addition, by the pubhca ton of our IN
teruatAonal trade figures which offered
a clear exclamation for the bulk OF the
recent gold imports. The exchange
markt also developed further weakness.
actual figures reaching the legitimate
import basis, $4.SSA for dmand. Post
ed quotations were also reduced &c,
! to $4S11s and s4.S41ls, by a 1eading draw
er. This fact was supplemented by the
news Of actual engagements Of gold
aggregating s1,3500o0 and by oabled
estimates of Impending imports Of gold
70 this country in the near future ex-
tending to $1,000, 900. Purchases for
both accounts caused advances all
around with the industriais leading in
gains extending TO IL per cent in Lea
ther preferred. The Investment stocks
were in fair request and some striking
advances occurred in thei Inactive list.
LackawaLnla rose per cent, Cotton
Oh preferred 81 per cent and MetroDoi-
tan Traction az per cent. Tobacco
moved dn contrast to the general upward
trend and after an initial rise of y per
cent. to 16 per cent, slumped TO ~ per
cent on realizing sales. A partial rally
followed to 1884 per cent. The improve
ment was not retained. the stock selling
off to rs per cent, the lowest of the
day, in the late dealings on a drive by
the bears. Illinois Steel wa salso con-
spicuous for wide fluctuations. The
stock rose 80 per cent, to 40 per cent.
broke subsequently, to 40s per cent and
rallied 10 41& per cent. The bulls re-
tanned control OF the market until the
early afternoon and marked Sugar up
to 100 per cent and st. Paul 10 II per
cent. Other Shares displayed net gains
Of 1a1k per cent. A feature o fthe trad
ing was unusual activity in Union Pa
nifo ayfr-ar,,a gain n L. roTIir
In the last hour an advance in call
money rates in the board precipJtated
heavy selling an around, which caused
the loss of most Of the heavy gains.
Leading bankers deprecated reports that
the rise in money was artificial and pre-
dicted sharp money market the next
few weeks. Bank deposits are not in
creasing, owing to the disposition of the
country financial institutions to return
funds to New York, and there is prac-
tically no time money Offering. Inn-
dentally the banks have withdrawn al
most entirely from the market for COM
mepcial paper. Shipments of money to
the interior continue on a large scale.
The annual report of the Western I'm
ion Telegraph company was published
today and was a favorable exhibit The
report failed Of effect, however, in the
market. The closing was weak ait fTlac-
Sional net gains.
The total sales Of stock today were
21s423 shares, including the following:
American Tobacco II 500; Atcfison $500;
American Sugar $1,000; Burlington and
Quincy II, 900; Chicago Gas 400; Louis
Vile an dNaShvine 500: Manhattan
consols I0,1Oo; Reading 1890: Rock IL,
land $500; st. Paul $1,000; Tennessee Coal
and Iron $500; Union Pacific 12,10o;
Southern Railroad preferred $500; sill
yer certificates 5000.
Railroad bonds continued strong on
a fair volume of business. The Read
ing and Atchison Issues led in activity.
Kansas Pacific consUlS advanced 31i
per cent, to 66 per cent. A notable ex-
ception to the general tendency was
Atchison, Colorado and Pacific firsts.
which reached per cent, to . per cent.
The sales were 1887 900.
FOREIGN STOCKS AND MONEY.
New York, Oct 14.-Evening Posts
London cablegTam:
THE stock market opened fairly good
today and remained 50 all day, with
the exception OF conso.s and other gilt
edged stocks. which were depressed by
the gold exports and fears OF a rise
In the bank rate Americans were
quite the best market and closed at
the top ON the unanimity OF cable ad-
vices as TO the prospects OF McKin-
iey's election. There is much per-
plexity as 10 a possible change in the
bank rates. Having freely canvassed
the opinions OF leaders in the money
market can only say that a rise to
s1s per cent - looked for, but with
more than usual uncertainty. A rise
in the bank rate has. TO some extent,
perhaps, been discounted. bu; the best
opinions look for an unfavorabie effect,
Immediately orlater. II an actual change
occurs L Is believed On the stock
exchange that the settlement viii ter
inmate tomorrow without any serious
faiHrreS'
London. Oct 14-Consols for money
10s1.: for the account. 10sS.: Canadian
Pacific, SCI. Erie, 14S: Erie first, pre-
ferred, 80: Illinois Central. -: Mexican
ordinary. 20: ST Paul, common. %; New
York Central, e5z; Pennsylvania, 55z.:
Reading. L; Mexican Central new fours
So. Ba-siIver, 2s&sd Per ounce. Money,
/ per cent The rate cot discount n tie
opennarket 1orshort bills ~ ga. Per
cert: for three months bis. zhz62z.
per ont Gold - quoted az B1enos
Ayres today az 1880: MAdr1d. 1s. Is;
Lisbon, 34H: Rome. 1S7.o2- Amount %
bullion withdrawn from the Bank OF
England coiay. "a. 90 pounds: amount
deposited, "A. 90 pounds,
Parts, Oct HDTh-ee PER cent re-l.es
10 f7izc continues for the account:
Exchange oaLoa5on Is is1zc 10r
checks
Berlin. Oct 14-Exchanzs On Lon
don eight days sight - marks z4iz
p1s1nigs
LOANS AND EXCHANGE
New Yo-<. Oct I{-Moosy On call
ve-Y firm a. 5dlo pr cent: last ioaa