The Wichita daily eagle., 1896-01-25
CENTERS In THREE
SUGAR, TOBACCO AND BALTIMORE
AND OHIO LEAD.


dent Is Taken As an Augury of Good TO
Come, aud Three Per Cent Advance
ResuIts-Review of the Weeks Trans
actiOns-Gold keturniDS.
New York, Jan. 24-The modest vol
| ume OF business transacted upon the
New York stock exchange today. cen
tered in three stocks. Tobacco. Sugar
and Baltimore and Ohio.
Regarding the two first named there
was circulated gossip OF unfavorable
character, including revived rumors OF
hostile action by the legislature OF the
| state of New Jersey. Both stocks not
only proved superior 20 the attacks,
but displayed exceptional strength on
buying, chiefly for short account Al
| though the trading in the general list
was quite limited, Improvement was
noted all along the line. The news OF
the day was calculated 10 cause cheer
ful temper. but this fact did not enlist
others than the strictly professional
operators owing 10 the recently rapid
" succeeding and conflicting political
and other rumors.
The initial tone. as has frequently
| happened OF late. was impaired by Eu-
ropean cables. The political advices
| received were of continued Pacific i'm
ports, so far as this country is con-
cerned, and logically, prices for Ameri-
cans showed advances over New York
parity. Some purchases were also made
in this market for account of foreign
dealers. These were not created Of an
investment character. however. Oother
bull arguments consisted Of rumors Of
| preparations by a syndicate TO under
write the government bond issue, eth
er individually or as a collective force.
and the encouragement Of gold for
shipment tomorrow. BY the way, the
| Inconsistency Of reports on this last
point within the past day or two had
been marked. In addition, the street
is becoming less skeptical on the score
OF a practical agreement by the anthra
cite coal companies 70 result from the
reopened negotiations by the leading
interests for settlement. There Is
reliable Information that the remaining
points Of difference are incOnsiderable.
The great difficulty. however, has been
to arrange percentages Of production,
originally divided between five or six
companies, so as TO cover the demands
of the new producers. The influence
noted, though failing to stimulate actl-
witty or cause a wide distribution Of spec
ulative Interest, resulted in material
advances throughout the list in which
the grangsrs, Manhattan, Louisville
and Nashville. Southern preferred. Bal
tinore and Ohio. the coalers and the in
dustrislS figured for from l to Per
cent, the last in Baltimore and Ohio.
The Improvement IN this stock was
cOincident with the news Of the election
Of the new president of the company.
Sugar scored the next best gain. PA per
cent. Tobacco was raised at the out
Ill
on general renewal Of bear pressure.
Insiders took hold at the low point and
a rally resulted to 76s4 per cent. Trad
ing was fairly animated in the early
operations, then became almost stag
nant, and 50 continued until the last
hour, when another spell of activity Oc-
CURED in which the top figures of the
day were recorded. The market closed
strong and generally at material net
gains.
Aside from a good inquiry for Read
ing issues. the railway bond market
was devoid OF features. The tone was
firm, however. The dealings amounted
to s1.163, ,0O0
Governments ruled steady through
out with transactions Of 800.
BRAiDSTREET'S STOCK REVIEW.
New York, Jan. 24-Bradstreets re-
view of the New York stock market
says; Decidedly less considerat ton was
given 10 the condition of the govern
ment bond issue this week II is as
sumed that it will be somewhat over
subscribed. though the prevalent opin-
ion IS that the bulk OF the loan will be
taken by the same interests which form
ed the defunct Morgan syndicate and
that public" subscriptions, sO-called,
viii be scattering and relatively unim-
pOrtant. The most significant figure
~. -
forded that the larger interests among
the presumable subscribers have already
prepared themselves. thus decreasing
the preSsur to obtain gold or gren-
backs, and visibly relieving the strain
upon the money market Gold and
legal tenders still command a premium
Of 2sd1z per cent, but the inquiry has
slackened and transactions are on a
smaller scale. The effort TO accumu-
late legal tenders suggests. Of course,
that some Of the bidders are shaping
their arrang0 0ments with the view 10
obtaining their gold with which 70
make payren for bonds from the treas
ury itself. In the face Of conditions in
the exchange market which induced the
export OF 8. 500. 900 gold TO Europe. all
Of which was withdrawn from the Unit
ed States treasury. about 81 .150. 900
specie has come from London, and 9TH
er amounts are said 10 be on the way
II is evident that those transactions
invOvle the purchase Of bilsl Of eE-
change, and produce he pressure on the
exchange market 10 which the current
gold exports are due. To this exten:,
therefore, the preps srationS for n cub
scription are a positive loss 70 the rsas-
ury gold reserve which a the end OF the
week is reduced 70 only $50. 400 coo.
The most important event OF the week
vas the meeting OF the coal road rep
rssentatives on Thursday. The fact
that production OF anthracite in 1895
reached the enormous amount OF y. .550.-
Co tons demonstrates the dernoraliza-
ton OF the trade. and the necessity Ot
restricting the output 10 figures nearer
the consumptive demand. The meet
ing was not Immediately productive q
results. The vital point n the situa-
ton IS its distribution n a way 70 salts
y the Reading demand for an Increase.
and yet not 70 take too much from the
other roads A committee was ap-
p0inte 20 suggest 4 plan and report On
next Thursday. Delay seems Insv1ta-
bic. but The beliss is that a form q har-
rrcny and restriction VII be finally a.
rived At
Reading securities vs-e firm and high
- on The idea that rs claim for an a.
lo-rue-- of p@- cent q .he output
would be substa 1tizIly secured
EAGLEzS FLYING BACK.
New York. Jan. "A SPECIAL from
London SAYS: Eag--- w. drawn from
the Bank % England fo- Ane-ca TO-
day L = reported mat TIE shipments
OF god 20 America xiii p7Joably ex-
ceed a quarter million sterling and more
: going next week Thls gold IS taken