The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-20
WORKED ALL WAYS
DIVERSE INFLUENCES OPERATE
UPON THE STOCK MARKET.

However, is q Closing Strong at the Top
Figures, With Good Gains in Sugar.
Rock Island, Cotton Oil, Burlington,
Leather and Tobacco-Atchison Seconds
Make Gains in the Bond List-Govern-
ments Strong and Higher-SiIver Ger
tIfcates Rise Fractionaily,
New York, Oct. 1e.-The stock mar
ket today, though adroit IN movement,
was interesting owing to a variety OF di-
vergent influences. Stringency n the
money market and the practical with
drawal OF the banks from the market for
mercantile paper was offset by a senSa-
tional advance in wheat and decided
strength N corn ard other food products
The domestic market followed a rise in
wheat ct Liverpool OF six cents a BUSH
e. by an advance Of zI5c in December
option, making the highest recorded in
the present movement. Further reports
OF a decided gain on eastbound rates
were received and coincident with she
advance n money 70 an extreme 10 per
cent oil call, foreign exchange rates were
worked - lower basis. Actual sterl-
ing fell Il cent and posted quotations
We're Shaded re, to s4.S019Gi.S4. De-
mand IS light in the face OF free offer
ings OF commercial acceptances. The
ma ority OF the call money transactions
weere made at TQS per cent. Some time
loans were made at u per cent for 80
days. but offerings of funds are light.
For the first time in many months bids
We're made for stocks at buyers option
60 days" This manner of trading IS ex-
peceed to be a feature in the next 30 days
as both parties 10 the contract OF this
character con protect themselves by de-
posts in a trust company against the
transaction. Firmness in stocks at the
opening soon developed into positive
strength. although the distribution OF
the trading was very Indifferent. The
railway stocks Were unusually promi-
nent, The immediate heavy movement Of
grain and other staples counteracting
some ullfavorable traffic returns. The
Improvement became mort pronounced
as the day progressed and the closing
was strong a the top figures. The mora
important gains We're 81 per cent in Su-
gar; Rock Island az per ecent; Cotton
OIL preferred 22s per cent; Burlington 2is
per cent, and Leather preferred and To-
bacco per cent. The Southwestern and
other active shares averaged point ad
vance. Reading exhibited heavinesS
around midday and lost 3. per cent but
subsequently made full recovery.
The total sales OF stocks today were
147 JAG, including: American Tobacco.
$500; Burlington 1920; Chicago Gas
Trust receipts 1900; Louisville and Nash
vile 800; Manhattan $500; Rock Island
500; Reading $500; st. Paul "a, 100; sill |
yer certificates "a 900.
Railway bonds We're quiet and devoid
of feature aside from sharp fractional |
gain in AtchlSon seconds on large trans |
actions. The sales Were $731 600.
Governments were strong and fraction |
ally higher on dealings Of $25, 900.
Silver certificates rose q per cent. TO |
Sc per cent the transactions being s24,- |
000.
New York, Oct. 1s-Evening Posts |
London financial cablegram:
1.-THE stock markets We're dull all day |
with heavy drop in Spanish securities |
and also in mines. The tone at the close |
was better all around on the reports in /
regard to the gold market Americans
were steady and closed good in the street |
The Paris bounse was fat on the fall IN |
Spanish stocks. but the close was bet |
ter. The Berlin market was steady"
call firm at ca per cent; prime meTcan-
tile paper, nominally. 7G9 per cent; sterl- |
ing exchange weak with actual business
in bankers bills at ASH G04S41a for de-
mand, and s4.S01s G4S 012; commercial |
bills SAB; silver certificate sales 81. /
at &C; bar silver 65K; Mexican dollars
501a cents; government bonds strong;
new tours registered us; coupons 116; /
fives registered, 109lI, coupon III; fours
registered 1868; coupon 1917; twoS reg
istered 9211s: Pacifcs Of 81 lOi.
Philadelphia, Oct. 19.-Clearings 49,
625. 1854; balances s1,11, 1896.
Baltimore. Oct. 19.-Clearings S2.1s4,-
3S5; balances $+05, 635.
St Louis, Mo, Oct. 19.-Clearings 81
73S, 1872; balances si09,69 Money 6dS
par cent New York exchange lis dis
Washington, Oct. 19.-The treasury to-
day lost $3.50, 500 in gold coin and s2s.100
count bid: s1.0O discount asked.
in bars which Leaves the true amount OF
the gold reserve 1921 ,7s7 ,26l.
London, Oct. 20.-The Daily Tele-
graphs financial article expresses the
belief that the Bank of France has |
manifested a willingness to sell gold |
largely rather than allow the London
market to be so disturbed as TO react
upon Paris. The article says
L IS probable this consideration pre-
vailed with the Bank Of England not
10 raise the rate OF discount.
The Paris correspondent Of the Morn
ng Post says heavy sales OF Spanish
securities and Kaffirs on Paris account
lisquieted the stock exchange and the
Doursa yesterday. This mysterious sell
ng. il is said, has now continued in
both markets for several days. Late
evening papers in Paris declared that
Unless the movement was checked a
;erios crisis would result on the bourse.
an official who was consulted said \
events in Spain and Turkey were most
-esponsibie. but that great anxiety ex-
sted regarding the outcome OF the
residential election IN the United
states. 1t IS feared the next settle
nent VIII reveal trouble.