The Wichita daily eagle., 1896-12-12

organization Proceedings and the Cia m
Or for Cheaper Gas Affect the Proper
ties Included In These Interests-Erad-
streets Review of the Week.
| New York, Dec. 1.-THE stock mar
ket has rarely been as fiat and uninter-
est:ng for a full business session as it
was today The stock indicator was
motionless for many minutes at time,
and the neagre dealings were purely pro-
| fessional and the fluctuations as rule
trivial The speculation displayed a de-
gree Of iassitude that precluded any IA
vorable influence upon prices from the
| increased government cotton crop esti-
| mate and the favorable report regarding
| the winter wheat outlook Aside from
| the main restrictive effect Of uncertainty
| at Washington on the Cuban and other
| regarding the imerndiate developments
questions, reports of the probable refu-
| sal of Venezuela to endorse the agree
ment proposed by the United States and
| Great Britain on the celebrated bound
! ary question, were an incentive toward
| an extremely coutious attitude by the
! large security-holding interests. The alb
normal ease In money and the more con-
! fident sentiment Of investors as 10 the
eventual favorable outcome. were, how
! ever reflected in a notable broadening in
| the railway bond market, on a moderate
| iy large volume of business, many bonds
being dealt in that have long been dor
mant. Operations in stocks for foreign
account was on a light scale, but were
mainly to Sell, condition which helped
a reactionary tendency in the local mar
ket. The initial prices were irregular,
with the main tendency toward a lower
level. Some slight gains were made
early, but were retained for only brief
period, az raid on General Electric, de-
pressing the price IL per cent, induced
sympathetic fractional concessions in
the general list. Reading sold off about
point on the prospect of a controversy
as to the legality of the steps taken un-
der the reorganization of the capital, and
the gas shares were again attacked in
connection with the popular agitation for
reduction in the price of the product.
There was nothing spirited in the deal
ings. however, and the dullness became
more acute as the day progressed, while
prices sagged steadily. through narrow
range In the late dealings, Chicago,
Cleveland. Cincinnati and st, Louis at
tracted attention by an advance Of rs
per cent, entirely on covering. The clos
ing was steady at trivial losses on most
stocks.
The total sales Of stocks today were
,542 shares, including: American SUI
gar 5000; Burlington 5000: Chicago Gas
3,400; General Electric $500; Manhattan
$500; st. Paul $500; Western Union 1900;
Silver certificates 10000.
The bond market displayed broaden
ing tendency, many bonds that had been
heretofore neglected for a long time COM
ing into notice. Prices were irregular,
but firm undertone was noted, especi-
ally in investment bonds. The sales were
81, ,492, 900. The most important advances
ranged between 1 and Az per cent and
the declines from to per cent
FOREIGN STOCK MARKET.
New York, Dec. 1.-THE Evening
Posts London financial cablegram says:
1.-THE settlement having been satisfac-
torily concluded. the tone of the stock
market today was good. The improve
nlent was led by the recovery in mines,
which was due to recovery by bears.
Home rails also rose sharply on hopes
that the expected strike may be avert
ed. Americans were steady, except Lou
isville and St. Pau, which were dull on
the New York lead. South Americans
were strong. Brazil exchange improved
9-16d. Indian consols sold up one shil-
ling 5-52d. Money was in strong de-
mand and the Bank of England lent a
considerable amount to the market for
a week at per cent. The Paris and |
Berlin markets were firm"
BRADSTREET'S REVIEW.
New York. Dec. 11-Bradstreet's re-
view OF the stock market tomorrow will |
say:
Congress having actually assembled. |
the speculative market has apparently |
lost much of its fear regarding the action |
OF that body and its influence upon the |
financial situation. The professional |
Wall street operators manifested a dis |
position to sell last Monday on the ap-
pearance OF the presidents message, on |
the ground that the treatment on the Gu
ban question was not as conservative as |
had been expected and that the reference /
10 trust organizations would encourage |
legislative attacks on the industriais not |
only in congress, but in the state legisla-
lures. The message, however, produced |
little or no liquidation of long stock, and |
the introduction as soon as congress got
to work Of a variety OF resolutions in /
reference to Cuba had practically no ef-
feet. In fact, the street seemed to be
under the influence of reports from Wash
ington indicating that the present con-
grass was unlikely to take positive ac-
ton of any kind in the short time that
stocks seemed unwilling to sell, and
bearish manipulations simply increased
the short interest and created a founda-
ton for rallies. The utter absence of out
side participation in the market, is. how
ever, severely felt, and the transactions
from day to day have been on a very
limited scale. and were due in the main
TO the smaller operators of the board
room Itself. The strength of the better
class OF bonds and investments generally
IS feature. but the demand in question
Is sharply drawn, so far as securities OF
the speculative character are concern
Ell. At the same time a feeling asserts
itself in speculative circles that the aug
mentation OF the investment demand af-
ter January ]. especially II congress shall
fail to dc anything calculated 10 disturb
the situation, and IL general business and
railroad earnings should show decided
will lead 10 a broadening
out OF the market, with more or less of a
revival in It's activity. This naturally
tends 10 restrict bearish operations 10 al
lacks on particular stocks. though
the week the fluctuations
have been generally narrow and devoid
Df particular significance. and fo- the
greater part OF the time the market has
been in a waiting state Europe has
taken no part in the speculation here, and
the weaker tone Of the foreign exchange
market has been without any signifi-
~a7s1a m stocks"