The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-26
TURNS TO THE GOOD
STOCK MARKET MANIFESTS IN.
PROVEMBNT ALL AROUND.

4
Respond to Fridays Closing But Local
Interests Cause an Advance, Anyway.
New York, Jan. 25.-The course OF to-
days speculation marked return Of con-
| hdence as to the immediate outlook on the
| part of the financial community. The
| Improvement that occurred was in a fair
| measure due to actual buyers of stocks,
although professional operations figured
for the greater part of the days total
| business. The volume Of trading was
| relatively above the recent average. a
| slight hesitancy was noted al the outset
which was due to the failure Of the Lon
| don market for Americans 10 respond TO
! the strong closing prices here yesterday.
The local market, however, soon took on
firm tone and prices generally advanced
| on buying for both accounts the gains
| ranging from l TO 2 per cent. Final
| prices, with one or two unimportant ex-
cepuons, were at the highest Of the day.
| IotaI sales of stocks today were 113,-
S9S shares, including: American Sugar
| $500, American Tobacco $500. Atchison
2,lOU Burlington $780, General Electric ,
20, Louisville and Nashville 1900 Mis-
| souri, Pacific $500, Manhattan Consolidat-
cd 200. Reading $780, Rock Island 1920,
ST Paul 1870, Southern Railroad prefer
red 300, Tennessee Coal 1000, United
states Leather preferred $500, Western
Union 1900.
Although the market Of the week has re-
hected a more cheerful temper in WAL
street, conservative people are not yet
prepared TO commit themselves to import
ant ventures or enterprises while the bus
mess of the country and operations upon
the stock exchange are liable at any
moment to be materially affected by every
chance political rumor At the moment,
undoubtedly, the domestic outlook pre-
sents more reassuring aspect and that
is sufhcient for the rapidly changing oper-
atoms of the professional dealers. Aside
from the meeting of the anthracite coal
presidents on Thursday, the outcome of
which is still to be determined, there have
been few domestic market developments
OF the hrst class. Money on call has con-
tinued easy and indications of an increas-
ing disposition on the part of lenders to
offer time funds are beginning to be noted
although the demand for thirty-day ac-
commodation is still largely in excess of
the supply. An improved condition of
the market for commercial paper is graf
flying, although discrimination as TO quail |
lty IS still unusually keen. There is a
conviction on all sides that danger of
serious disturbance to the money market, |
incidental to the Withdrawals from the
banks by the successful bidders for the |
new government loan is unlikely. Re |
garding the loan itself, the best informed |
financiers express even greater confidence |
than heretofore as to its success. At the |
same time Ii is not believed that more
than one-quarter of the domestic SUBJ
New York. Tobacco was the speculative |
feature of the week. Purchases by the |
factions contending for control OF the |
company'S affairs caused an advance of /
per cent in its market price. in anticipa- |
ton of the closing of the books for the an |
nual election, about two weeks hence |
AT one time a premium Of 4 per cent was |
eXacted for use of the stock After the |
closing Of the books, stock was thrown |
upon the market and this, together with |
vigorous raiding by the bears, caused a /
slump to 74% per cent. At the lower /
point the offerings were taken by insiders |
and the price improved to 771a per cent at /
the close. The general speculation as a |
whole was extremely dull and professional |
and the range of quotations narrow.
Prices, which have been working irreg-
ularly, but in a majority of instances,
toward a higher level, when the rumors |
of an alliance between Russia and Tur-
key first appeared, receded all around. |
The subsistence of uneas!ness on this
point eventually was followed by pur-
chases of our securities for both local
and foreign account. Towards the end
of the week, fairly large actual buying
orders were executed and shorts also fell
into line Final sales show general net
gains. The more important Of the ad-
vances in the active list were in Sugar,
AS per cent, Manhattan 81 per cent, New
Jersey Central per cent. St. Paul 3&s
per cent, Burlington. 32s per cent and Rock
Island ga per cent. in the less active
class New oYrk Chicago and St Louis
declaration of an annual dividend of
per cent, New York. Chicago and st. Louis
second preferred per cent, Baltimore
per cent and Consolidated Gas 27s per
cent. Many other substantial improve
ments occurred. The aggregate sales were
S32. 13e shares.
The railway bond market today was
quite animated for a half holiday. and
the dealings were well distributed. The
total o fbusiness distributed was $,11,-
600.
Higher prices for the week were record
ed in all of the prominent speculative
railway and miscellaneous mortgages,
particularly the Reading issues. OF the
latter the four trust receipts are up 2l2
per cent; four trust unstamped AZ per
cent, four trust incomes, first assessment
paid S7s per cent, four trust incomer sec
Ond go. and four trust inCmOes, third, 3as
per cent. These bonds were influenced
by the progress made toward reorEaniza-
ton and by the belief that an enormous
agreement will he reached by the anthTa-
cite coal presidents. The aggregate sales
We're 81, 20, coo
As compared for the quotations for gov
ernments ruling at the close Of the pre-
ceding week. today's prices record cOnces-
sions OF ! per cent in the new fours and
a fraction in the other issues Sales Of ,
so 900 were noted. including transactions ,
In the new coupon tours at material ad-
vances over the bid prices.
The trading in mining shares was on a
decidedly increased scale. The business
in Phoenix.
LOANS STATEMENT.
New York, Jan. 25-The FinanC!er says
this week:
The statement of the Associated Banks ,
Of New York City FOR the week ending ,
January -, is a repitiJ.On. so far as the
general showing OF the several items is
concerned. Of the previous weeks exhibit. | =
The steady decrease Of loans, were Il
not for the unusual conditions now pre- {
vailing. might q regarded as one Of the
most unfavorale symptoms which have
been shown for months. and the ConraC-
a disturbing factor. The liquidation II :
the past five weeks has been in excess Of
So. G'00Jo. and the total loans n the end
Of the current week were S15oIoUu0 less ;
than reported last September when the /
highest mark ever recorded IN the history
Of New York banks was reached. :
There IS no doubt that the banks are !
their business 20 meet the new
bond loan.
The decrease in the denosit item - /
fleets the Withdrawals OF LEGAL tenders for
export purposes and the shifting caused
BY the contra ction II loans
With a total excess % reserve OF So
~. on0 there should be no difficulty = alb
sorSi1g a considerable portion OF the e
new bonds or the part % the New York
banks Z such an investment is desired
II : worthy Of note that Of the 1890
n specie row II the New York banks '
SIX Institutions hold SSl.I5.Dlo. or forty
Der cent OF The total Tha holdings OF The :
National City back-1esrly 80 %. 0"1-co--
;t.tute over * per cent q al the specie c
u the s.X-y-six New York clearing -Eouse =
BANK CLEARINGS
New York. Jan. -5.-CIearlnss, 50 1850; {
balances. $s.s7I.0>5-
Boston. Jan 2S.-Clear-nss, E2lia- -, F
Baltimore. AIN. @5-Clear.ngs, S-z1.SS
balances. SIS - =