The Wichita daily eagle., 1896-12-13
DULLER THAN EVER
STOCK MARKEr SOMETHING PIE
NOMENAL IN THAT WAY.
Values Yield at the Least Pressure-Deal-
ings Confined to the Active Jist-Man-
haitian, Rock Island and Reading the
Most Prominent, With Rubbsr-CIosinS
Firm, With Changes Slight Either Way
Review of the Week, With its Various
Notable Influences The Bank State
ment-Foreign Markets.

| New York, Dec. 12-Today's stock
| market was phenomenally dull. Some
hesitancy was discernible, even on the
| part of the professional dealers, and
| values sagged slightly on very moderate
| pressure The arbitrage operations were
| restricted TO a few hundred shares. The
| limited dealings were confined TO the act
| i've list, and the fluctuations lacked i'm
| portance except in Manhattan, Rock
Island and Reading, the last mentioned
| being sold on the complication which are
/ said to be likely to arise in defying the
| legality of the reorganization. Rubber,
in the regular stagnatior, was conspicu-
fous by a 1 per cent drop and a subse-
quent partial rally. At the low point sup
porting orders and covering influenced a
general recovery, in which the specialties
were the most prominent. The closing
was firm at slight net changes either
way.
The total sales of stocks today were
46,411 shares, including: American Su-
gar 5,100; Burlington 5000; Manhattan
consois 1900; Reading 10000.
Railway bonds were quiet but firm.
The sales were $4,000. The more i'm
portant advances ranged from IA to
per cent, the last in Kings County Ele-
waited firsts.
REVIEW OF THE WEEK.
The market of the week has at fire.
quent intervals been characterized by
spells Of dullness, taxing the power of
discipline. The disposition of important
interests towards a temporary policy of
1naction has been more clearly manifest
as the week progressed, but while prices
have moved irregularly within a narrow
range, any serious break has been avert
ed through the extreme ease in money.
investors, believing in an eventual de-
cided clearing up of the general business
and financial outlook, have displayed an
increasing interest in the railway bond
market, but the heavy spectators and
their following are waiting until a more
definite understanding has been shown
as to the possibilities of action at Wash
ington on the Cuban question, the in
debtedness of the Pacific roads to the
government and other important topics.
Discussion of the tariff probabilities and
intimations of aggressive steps regard
ing the so-called trusts tend TO check ac-
tivity in general trade as well as in
Wall street At the same time the
plethora of loanable funds. favorable
cotton and winter wheat crop estimates
and expectation Of more encouraging
comparisons in railway traffic returns
before many weeks, account for the lack
of pressure of long stocks in the face of
bear raids. The result of this condition |
has been a sluggish market, relieved at |
times by spasmodic bursts of compara- |
tive activity, due to drives at the high |
priced stocks and specialties and subse- |
quent covering purchases. London's op- |
erations were moderate in extent and en- |
both sides of the market, with a slight |
in selling orders. There |
has been no abatement, however, of the |
foreign demand for investment bonds. |
The market was relieved from absolute |
by firmness succeeding the |
declartions Of the regular quarterly divi-
dends of Sugar, Western Union and Man
haitian. while the bears made bold play
against the gas shares based on the pop
ular agitation for lower prices for the |
product. Consolidated Gas was one of |
the few stocks that moved with spirit,
and covered an extremely wide range,
Some of the specialties were affected by
the actual or expected Gisso;utions of
trade pools. including the steel billet
trust which has virtually been Cisband-
ed. The passing of the dividend On Illi-
nois Steel was set down to this condition
Of affairs. Reading was prominent in the
trading in the last half of the week and
sagged sharply on the unexpected issue
raised as to the legality f certain steps
n the reorganization proceedings. Long
Island dropped per cent 10 ~ per cenr,
IN unfavorable rumors regarding the e.
lancial and physical condition of the
A rally to so per cent follow