The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-11

Bonds strong-RsiIy in London-Re-
view of Stocks for the Week
New York, Jan. 1o.-The share specu-
lation today was irregular at the open
ing and the volume of business was
| only moderate. An easier tendency
soon became evident and general frac-
ticnal losses were scored. Before the
expiration Of the first hour. however.
the selling pressure was exhausted and
a well-defined covering movement en-
sued, under the leadership OF the indus
trials, which carried prices up TO q ma
tersal extent. Later in the day the an
thraoite coal stocks and grangers were
| strong features. The last mentioned
group was helped by reports OF de-
| cidedly increased movement OF corn.
The stimulating influence upon the coal
stocks was an inaccurate rumor of an
| impending concerted advance in an
thracite coal prices at tidewater. The
cold snap has undoubtedly sharpened
the conSumptive demand for coal, but
| this viii only exert a temporary infiu-
| ence upon the wholesale trade, except
as a halt is called m the heavy mining
| operations. Sugar certificates sold up
| pa per cent, to 103ss per cent, partly on
| the belief expressed that the German
sugar bounty bill in the reichStag will
not pass. and partly on a petty conf
dent sentiment by the traders that the
old dividend rates viii be maintained
| this year. The preferred stock rose
| ~ per cent. The denial by President
Hoy-t of the United States Lea Their COM
pany, of the rumOr that the manage
| ment was endeavoring to float 81 000,-
| 900 loan, was followed by an advance
| in the preferred stock, due mainly 70
covering purchases. The general mar
ket was buoyed up by the conviction
that the delay incidental to the pro-
| gram for floating uhe new government
loan will not result in any serious finan-
| cfal disturbance. The fact that only
81 100000 in gold was engaged for ship
ment tomorrow also had a favorable in
| fiuence upon the market. London was
a purchaser of St. Paul and a few other
stocks, TO a moderate extent. The
principal advances other than those
mentioned were: Lake Shore "a per
| cent, Chicago Gas 29s Per cent, Manhat-
tan, Delaware and Hudson, Illinois
| Central and New Jersey ia per cent;
Lake Erie and Western preferred per
cent. Uackawanna Is per cent, Tennes-
Nashville and Canada Southern 1ss per
cent and the grangers AG11E per cent.
Late in the day realizing sales caused a
general reactionary movement In which
Manhattan and Leather preferred were
the chief sufferers, with losses Of about
a point. In the less active shares a
recession of per cent was made by
Metropolitan Traction. In the closing
dealings prices again hardened and the
closing was firm, with substantial net
| advances general.
General business in railway mort
cages was Of moderate proportions and
a strong tone ruled. The Reading is
sues were the features Of the trading
and on good buying gained 1G2A per
cent, the last in the second incomes.
The AtchfSOn and Kansas and Texas
issues were also well supported and
gained sharply. The sales aggregated
81, 55S. 900.
Governments ruled strong and higher.
The new four coupon and new five cou-
pom sold UP IL per cent and ! per cent
respectively on purchases Of $4,000
each.
IMPROVEMENT IN LONDON.
New York, Jan. 1O.-The Evening
Posts London cablegram says: There
was a continued improvement on the
stock market today, but on bears COW
euing and an absence of further dis
turhing political news. rather than on
definite favorable news. Americans
r. with the other markets. The
clcee was under the best. There is no
public support IN any Of the markets,
certainly not In Americans. The ex-
pected gold TO arrive by the Lucania
VIII go to the Bank Of England. There
Is no sign yet OF the Morgan syndicate
buying gold. There was a rush today
to deposit Reading bonds. Especially
noticea bic was the number OF deferred
income bonds deposited. There was a
further sharp squirt in mines. closing
under the best The cortintntaI boCr-
ses were firm, especially in Berlin. The
Improvement IN Paris was checked by
rather sharp fall in Italians.
REVIEW OF THE WEEK.
Kew York, Jan. 1O-Bradstreet's
Weekly Review OF TrSde says OF the
New York stock market: Speculative
interests were unquestiOuably come
what dismayed by the unexpected
lauIchfng Of the 800 000. 900 governments
bona issue as a popular subscription.
The principal element OF disturbance
was the idea that the period Of thirty
days allowed for the closing q the sub
scripaon would afford opportunity for
further depletion OF the gold reserve
and for the development Of other IN
settling factors.
Il was observed that while the public
was taking TO interest in speculation.
and that the hope OF a booming teuden-
cy which a sale OF the bonds 70 the
Morgan syndicate might have created.
had been defeated. there was no hqui-
dation. and the leading interests IN the
market, while inclined 70 stand aside.
had no disposition 10 work on the short
side. Further ccnsideTa ton q the mat
ter I'D also 70 several other important
conclusions. In the first place. s. f.
the opinion o. the street that the Mo-
gan bond syndicate VII not sbaud,
but vii put IN a bid. with the chances
n fa-Or - It's obtaining the whole @
az any rate al but a small portion %
the bond issue. The fact rhat zhe pub
fc. even II 4 wants the bonds. cannot /
obtain god with which 20 pay 1oT them. /
- a limitation upon popular s-I5scr1p- /
scions, while the banks which have the /.
gold s7e more likely 20 act n coulec-
ton with TIE syndicate than % take i
the alternative q paying a high p-soe. /
OF % having their Individual BIDS re- !
tecte1.
GOLD WITHDRAWALS.
The Withdrawals o. gold from ths /
treasury have not been excessive. only i
amounting n al % g.. 90 90 for the /
Tesk- While there Is evidence that the /
treasury has ARMED stself against suca 4
deIEerlon q is reserve b. Al s--a1ge-
meat WITH cs--ain View York banks 70 i
supply Z KIN gold during The thtrSy 4
DAYS % suspense.
Il1e uo-lay market. tl7ouEh f-11. has
also Gained down co-1<sde-abiy and.
though god eTpr-ts for the T-eE
arrs5ul+ei "a 3 -. Co GncIu 15-E g -51s-
90 taken from ne treasury tvr0 v.-ezs
ago, and hed 81 tire bankers valu-sl.
the exccz---s7e make = nos 50 active -
s-T1-E - 90 t-15ca-e a heavy .ou-so-T-