The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-21

short Interest shows Symptoms of Being
oyerdone-SoId- Ont Bulls still Work
DoIefuIly With the Bears-Day's Clos
Ing Weak ut Gehsrsi Fractional Losses
Bradstreet's stock Review.
New York, Nov. s2o.-The stock market
was under pressure from professional
bears all day. The volume of business
was the iightest that has been recorded
On any full business day in the past two
weeks and the distribution was very
poor. The movement was irregular and
In most instances narrow, the market dis
playing a tendency to rally whenever
pressure was temporarily removed. OPP
orators who are usually in close touch
with speculative movements assert that
the short interest bids fair to soon be-
come unwieldly, a condition that is in
ducing some interests to take back part
OF the stocks sold at the top level. Cow
ering is also being stimulated to an eX-
tent by the peaceful tenor OF the WASH
Ingtoa political advices. Incidentally,
there is no important selling Of long
stocks, and .'splurges" in the usually
spectacular specialties, facilitated by the
decided monetary conditions. afford the
only relief from The monotony OF the mar
ket The bears, and the bulls without
stocks, accompany their attack upon the
general list with gloomy forecasts as TO
the outlook for traffic, and lay particular
stress upon the discoura 2ing returns that
are now coming to hand, as well as the
more moderate activity in general bust
ness, as compared with a week ago.
Liquidation is apparent here in some OF
the i1igh-priced speci3lties, and this has
caused an abatement Of the purchasing
movement that was noted until day o.
two past in the low-priced shares. Lon
don orders are light, but are merely 20
Sill. The initial prices were irregular
and the changes fractional. Bear ag-
gression, however, soon became evident.
American Spirits fell 2 II per cent, but
later made a partial recovery. MINES
eta Iron reacted per cent, but the loss
es otherwise were unimportant. The
downward movement was succeeded by
a rally, in sympathy with a jump OF 4
per cent in Consolidated Gas TO 167 per
cent on a variety of rumors, none OF
which were confirmed. A reaction fol-
lowed to 165 Ia per cent. Reading was
largely dealt in and gained point on
reports that the organizers had succeed
ed in arranging for large reductions in
rentals of leased Dimes. Leather prefer
red moved up fraction on reports that
a dividend OF / per cent would be de-
clarsd at the meeting of the directors
on next Tuesday. Bay state Gas lost,
and afterwards recovered, ! per cent
The announcement of further reduction
in no of off al SaH IN
~ a fractional decline in Sugar stock
and herein also a recovery followed. In
the afternoon tn market was dull but
prices stiffened sharply. In the last
hour renewed pear pressure caused de-
presssion to tn lowest figure Of the day.
Rock Island support and declined 2 IL
per cent, making the net loss in the
speciality in two days A per cent. The
closing was weak at general fractional
losses.
The total sales of stocks today were
La, 1897 shares, including: American ST.
gar, p. 500; Burlington and Quincy 1890:
Consolidated Gas, $500; Louisville and
Nashville, 1900; Reading Sc, 900; St Paul,
25,5oo. Silver certificates. 10000.
Railway bonds were dull and without
special features. Firmness was generally
noted, however. The sales were $780,
000
Governments held firm on dealings Of
$4,000
Silver certificates were quiet and cas-
Ter on sales of $50. 900.
BRADSTREET'S STOCK REVIEW.
New York, Nov. 2o.--Bradstreet's re-
view of the New York stock market
tomorrow will say:
prices have been irreguiarly depres.-
ed during the present week and the pro-
fessional element in the stock market
have generally assumed a bearish atti-
tude. The firm condition Of the London
money market checks any exhibition of
foreign speculative interest in our stocks,
while our own outside purchasing has
apparently been replaced by a disposition
10 realize prifits or to lquidate holdings
OF long stock. There has consequently
been considerable pressure of actual hold
ings on the market but il must neVerthe-
less be admitted that the unsettling in
fiuences have. in the main. originated
with the class of operators. large and
small who are permanently active in the
market. Though current reports of rail-
road earnings have been generally poor
Il is argued that the effect Of the revival
of business and industry Will probably
result in better traffic returns rs the sea-
son progresses. Fridays marke; was duh
and steady till the last part Of the day,
while the list declined slightly on renew
ed bear selling. Interest in the. various
portions of the share list has been we'll
distributed, but it must be remarked
that the activity in different stocks has
been spasmodic and represents progress
I've activity. either for the purpose OF
shorts"
LOANS AND ECHANGE.
New York. Nov. 2o.-Money on call
hominaily 23.G5 per cent: prime mercan-
tile paper. 4tsQa1s per cent; sterling ex-
change steady with actual business in
bankers bills al S1.S6Qi.S6i4 FOR demand
and s4s2l. 9i.S2 for sixty days. Silver
certificates S20,eeo al 65ls cents. Bar sil
yer s5s. Mexican dollars. 50Ss cent?.
Government bonds. firm; new IS reg.
Hnc coupon. 49,; IS reg. and coupon.
ll2%.; IS reg. and coupon, 1884; IS reg,
a5; Pacific s. Of 81. l1e.
BANK CLEARINGS.
Philadelphia-Ciearings, 81, 7la. SIS: bal
ances. .e99.i27-
Baltimore-Clearings. s.. .ses: balan>
ces. $685.
St Louis-Ciearings, N.22i.lss: balan-
es.sT06.172 Money Gas Der cent. New
York exchange, IS cents permium bid:
81 premium asked.
GOLD RESERVE.
Washington. Nov. 2o.-Todav's state.
ment OF the condition Of the treasury
shows: Available balance, s277. ISl. 545;
gold reserve. sl2e, 6l1.7l.
A LONDON FAILURE.
Io,Io, Na,- 90-Tba fsii,,-,. az . r