The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-23

Western Union Catch the Bulk of the
Trading-Reading's PromInence.
New York, Jan. 22.-The operations in
stocks today. while largely OF a pro-
fessional character, included some fair
outside buying for European account,
and, 10 less extent. purchases by To-
cal commission houses. The volume of
business was somewhat larger than that
OF the previous day with the create
part OF the trading distributed between
four industrial stocks and St. Paul and
Western Union. The London cables re-
ported decidedly more cheerful condi-
ton of the public mind regarding the
present outlook so far as the relations
with the United States are concerned
and higher prices for Americans were
followed by large purchase nthis mark
ct. Continued easy rates for call mon
ey IN the streets and predictions OF
freer offerings Of time money, together
with lower rates for sterling exchange
were among tn ebull factors. The in
dustrials. as usual. were manipulated
under special influences. The prices
showed substantial improvements over
yesterdays final sales and in short or
der further gains were established Of i
@l12 per cent, the last in Rock Island.
The international stocks were conspi-
ciouS in the upward movement After
the first fifteen minutes OF business, a
reaction occurred in which. aside from
Tobacco and Western Union, the losses
recorded were only fractional Tobac-
CO had advanced II per cent, to 20 per
cent, but subsequently broke to 767s per
cent on liquidations and hammering by
the professional dealers. Western IN
ion also. after an early fractional al
vance, yielded a point on continued
bear attack. At the recession the mar
ket quieted down, and up TO q late hour
there We're no special features presented
aside from the industrials. General
Electric rose rs per cent, TO 27A per
cent, on the revival Of the rumOr that
an agreement had been affected with
the WestinghouS people. The stock re-
acted l per cent on a denial Of the re-
ports, but subsequently, recovered half
OF the early advance. Sugar gained l =
per cent on advances in various grades
of foreign and domestic products. Chi
cago Gas rose a fraction and later
dropped rs per cent on bear selling
prompted by the check encountered in
the consolidation effort. Subsequent
coverings of shorts caused a full rally.
In the last fifteen minutes of business a
squirt of activity developed and the best
figures of the day, as a rule. were re-
corded. Reading attracted attention on
account of an active inquiry for the
stock and bonds at advanced prices.
which was ascribed to expectation Of
important developments at the meeting
of the anthracite presidents, and large
deposits under the reorganization plan.
The declaration of o per cent dividend
on the first preferred stock Of the New
York, Chicago and st. Louis railroad
caused an advance of SIS per cent, while
the common and second preferred stocks
rose IL per cent and per cent respec-
lively. Northwest failed to improve
particularly on an increase Of $780,. $40 in
the gross earnings for December. On
the other hand St. Paul gained net l II
per cent; Burlington is per cent and
Rock Island IL per cent. The market
closed strong.
Reading mortgages were the feature
OF the bond market in point of activity
and advance. The aggregate sales were
81 ,G9S, 900.
The dealings in mining securities were
larger than usual, reaching a total OF
$4,000 shares, in which Phoenix figured
for $4,000 shares. The stock was erratc,
ranging between per cent and Il per
cent, and closed at the lower price.
LONDON IN BETTER TONE.
New York, Jan. 22.-The Evening
Posts London financial cablegram says:
There was a quiet but distinctly better
tone in the stock market today. due
mainly to the more favorable advices
about American sentiment in and out
of congress. The report 10 the Times
that the large insurance Offices here had
applied largely for the new American
loan also had a good effect. Americans,
after buoyancy, closed under the best
Investment markets were very strong.
Consols sold at 1O7%.
Home railways are advancing to re-
cord prices and the speculative markets
are better, but there is no public buying
OF Americans.
The Paris bourse was firm and most
active.
Berlin was quiet.
BANK CLEARINSG.
New York, Jan. 22.-Clearings $751;
343. sos; balances 81 ,3S2, 1853.
Philadelphia, Jan. 22.-Clearings $12,-
S41 81; balances 81, or. 200.
St. Louis. Jan. 22--Clearings t4.142. O42;
balances $66S.073. Money 5GS per cent.
New oYrk exchange 90 cents premium
bid, IS asked.
GRAIN MARKET