The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-22

New York, Dec 21.-The stock market
today was clearly in favor OF the bulls,
and number OF the bear professionals,
and also bulls without stocks, miscalcu-
| lated the speculative conditions by the
heavy sales, in connection with western
hank failures. The financial community
at large, however, was much more in,-
pressed by the absence OF scare abroad
On the Cuban imbroglio and the belief
tfat there was no possibility Of hasty &C
ton on the part OF this government and
by the Observation-Disclosures Of the conf
IDENTIFY expected exports OF gold to Ger
many. The news that the Cameron Gu
ban resolution had been hung up unit.
after the holidays, thus affording ample
| time for full elaboration, and increasing
indications of protracted debate on the
subject, resulted in the execution of a
larger proportion of commission orders
! than has been noted for some time past.
| London prices for American securities
came higher and fairly large buying or
deTS for foreign account were executed
in this market. The bears tested the
speculative spirit early, but soon gave
up the contest and covered extensively
until the reported failure OF the National
Bank Of Illinois and two minor institu-
tons, caused the putting out OF fresh line.
( The market was active, according 10 re-
cent averages, and the dealings we'll dis
tributed, the more confident temper be-
ing also reflected in decided strength in
the railway and miscellaneous bond mar
kets. The course Of prices in the fore
noon was somewhat Irregular, owing to
the changes Of front by the bears and
moderate liquidation of long stocks. In
the specalties the bears made some Sue
cess. Manhattan was attacked, the prices
declining 21a per cent, to S512 per cent,
on liquidation OF long stock, induced by
the legal attack on the company. The
stock was we'll supported a. the low level
and in the subsequent transactions jump
ed to 80 per cent, closing at a net i'm
rrovement of rs per cent. The Gould
shares were especially strong, improving
steadily as the day progressed and resist
ing persistent attacks by the interests
that have recently been free sellers Con-
solidated Gas moved violently, raacting
per cent early, with a subsequent rally
OF per cent. A favorable impression
was created by an easier tendency in the
sterling exchange market in the after
room session, and heavy buying was
all around, with Sugar, Chicago Gas and
the Changers leading the Improvement
Houses with Washington connections
were prominent in the rise. The inactive
stocks received more attention than of
late, and, as rule. advanced sharply.
In the active list, Burlington, Western
Union, Rock Island and Tobacco scrip
gained per cent. The closing was very
strong as slight recessions from the top
figures.
oil sol ,c IT.
236,S25 shares, including: American Su-
gar, 1920: Burlington, g, 900: General
Electric, 800; Chicago Gas. $500; Louis
vile and Nashville. 10000; Manhattan,
1850; Missouri Pacific, 300; Reading,
I,CG0; Rock Island. 5000; St. Paul. g.
900; Tennessee Coal and Iron, 5000; Wes-
tern Union, 1900: Wheeling and Lake
Erie, 1000; Southern Railroad preferred.
$500.
The bond market displayed strength on
renewed investment inquiry, which in
troGuced large variety of issues. The
sales were 81 ,129, 900. Some exceptions
TO the general upward tendency were re-
corded, but the losses were generally I'M
important.
Governments ruled steady, except for
the new fours. which fell a sharp frac-
ton in the early dealings on heavy sales.
block Of Sl,G0o000 of the coupons chang
ing hands at l19 per cent. Subsequently
a better tone developed. with the closing
generally steady. Large amounts were
traded in over the counter, with tn deal
lnSs AZ the board footing up s1.044, 900.
FURRY IN GOVERNMENTS.
New York, Dec. IA furry in the
government bond market occurred TO-
day which may call for an investigation.
The new fours coupon had closed at
l1S@4 Q11Ss. E H. Hartman & Co.
were offering the bonds down and an
argument was in progress between rep
resentatives Of that firm and of Yer
millie & Co over a sale to the last men
toned firm of 100000 worth Of bonds,
when Pliny Fish. of Harvey F'ishs Sons,
bid 119 for 100000 and then bid for an
other 100000, Hartman & Co selling
both blocks. The sale of Vermillie & Co.
had not been Strengthened out up TO the
close OF business. At 2:15 the new tours
were 11SS4 and other issues were steady.
FOREIGN STOCK MARKETS.
New York, Dec 21.-The New York
Evening Posts London financial cable
gram says:
The stock markets were idle and OF a
holiday character today, but with a very
cheerful tone. Americans took their cue
this morning from the tone OF the Madrid
cable dispatches and opened firm. They
remained above the parity until New
York prices were learned and then fell.
on the reported bank failure in Chicago
OBSERVATION-DISCLOSURES