The herald., 1896-01-26
THE MARKETS BY TELEGRAPH
Money, Stock, Bond and Produce
Quotations
WALL STREET SPECULATION
A Continued Bulge in the Price of
Wheat
WALL STREET SPECULATION
The General Market Movement Indicates a
Return of Confidence in the Imme.
date Future-Money Easy

shot upward this morning after weight of
shaky long wheat, which had been un-
loaded at the opening. First prices were
easier, because the foreign news was more
peaceful than expected, but the bull fever
speedily asserted itself, and the picture of
pit full of shorts all clamoring for wheat,
which was wild yesterday after corn, was
repeated in all it's details today. AT such
time rumor of any sort, if bullish, al
ways assumes tremendous proportions,and
the report from Chicago, therefore, that
Armour was buying up the wheat crop was
taken in good faith both here and at the
west, and caused no end of excitement for
while. Upon calm deliberation, the
trade did not believe the Armour story, for
it remembered that several days ago Mr..
Armour was credited with saying that he
would never take up the long side of wheat
again. Nevertheless, the market was very
nervous, and on the curb, after 'change,
May wheat sold up to 72Nc., against
71Ac., the highest during the forenoon,
and 70Nc., the opening figures. The total
sales this morning were 2 81 900 BUSH
els.
The course of today's speculation marked
a return of confidence as to the immediate
outlook on the part of the official commu-
nifty. The improvement that occurred was
in 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 at the outset,
which was due to the failure of the London
market for Americans to respond to the
strong closing prices here yesterday. The
local market however, soon took on firm
tone, and rrices generally advanced on
buying fo7 both accounts, the gains rang
ing from to 2 per cent Final prices with
one or two exceptions were at the highest
of the day. Although the market for the
week has reflected more cheerful temper
in Wall street. conservative people are not
yet prepared to commit themselves to inn
portant ventures or enterprises while the
business of the country and operations up
on the stock exchange are liable at any mo-
ment to be materially affected by every
chance political rllmor. At the moment,
undoubtedly, the domestic outlook presents
more reassuring aspect, and that is suf-
ficient for the rapidly changing operations
of the professional dealers. Aside from
the meeting of the anthracite coal presi-
dents on Thursd ~, the outcome Of which
is still to be determined, there have been
few domestic market developments
of the first class. Money on call
has continued easy and indications
= of az increasing disposition on the
part of lenders to offer time funds are be
RlIll'uB 10 10 HOt6u, altuOuRl tno uetuaIlu
for thirty-day accommodation is still
largely in excess of the supply. An inn
proved condition of the market for COM
mercial paper is gratifying, although dis
elimination as to quality is still unusually
keen. There is a conviction on all sides
that danger of serious disturbance to the
money market incidental to the with
drawals from the banks by the successful
bidders for the new government loan is up-
likely. Regarding the loan itself. the best
informed financiers express even greater
confidence than heretofore as to it's sue
cess. AT the same time it is not believed
that more than one-quarter of the domestic
subscriptions will be made from outside of
New York. The general speculation, as a
whole, was extremely dull and profess
row. Prices, which had been working
irregularly, but in a majority of instances
toward a higher level, when the rumors of
an alliance between Russia and Turkey
first appeared, receded ali around. The
subsistence of uneasiness on this point
chases of our securities for both
local and foreign accounts. 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 railway bond market today
the dealings were we'll distributed. The
total of business was I'LL 900. Higher
pri .es for the week were received in all of
the prominent speculative railroad and
miscellaneous mortgages.
The aggregate sales were $6,752 900.
AS compared with 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 issues. Sales of 5000 were
noted, including transactions in the new
couprn fours at material advances over the
hld nrIcpa The trading MINING GhQraa
was on decidedly decreased scale. The
business aggregated 26,95O shares, with
the bulk of it in Phoenix.
Closing Stocks
NEW YORK, Jan. 25.-The official closing quo
tauons for stocks were as follows:
Atchlson, 141a; Adams Express, lag: Alton
and Terre Haute, 81; American Sugar pfd, 90;
American Express 40; Baltimore and Ohio,
45a4 Canadian Pac; 81 Canada Southern. 4SN;
Central Pacific l4al; Ches. Il Ohio, l51a; Chi
cago & Alton. l54 Chic, Bur- & Quincy. 1873;
che Gas az consoidstsa Gas Gas 47
;s% isss Pr Iss5 W.; Ms;;;sFS 1sI; 81 5aS
Co., 16A Conf Cable Co., $50; Erie, 15X; do
ptd., 24l1; Fort Wayne, 16O; Great Northern
Pfd ITO; Chic; 4 E: Illinois Pfd. 90; Hooking
Duiulh 2e: Kansas & Texas, pfd.. 251a; Lake
Erie FL. 4 West, 2TA; same pfd.. Y; Lake Shore.
VIE 45% sad LouisVle & New Il5Sny Fash Msh
haitian Consolidated. 1885; Memphis and
Charleston. Is; Michigan Central. "a; Mis-
souri, Pacific, 25as; Mobile and o, 2315 Nash.
willie Chatt, 65; National Cordage, 5t,; same
pfd. lO3; N. J. Central 1Olss; Norfolk and
West pfd.. ~: North American Co, 81: North.
ern Pacific, 81; do pfd, IL; U. r, Denver
d. Gulf, 81; U. s. Leather pfd. .63N bid; North
western, 991a; do pfd., 1447s: N. Y Central
971a; NJ Y. & New England, as; Ontario
Oregon Nav. .; Oregon Short Line & Utah
Northern. s; Pacific Mail, 26aS; Peoria Dec. &
pIIIl limo Dal -,
Reading 1l1.; u. s. g. Rubber, 2714; 90 pid.,
s9; Rock Island, 81; St. Paul, 7oss: do pfd.,,
Southern Pacific, 2oA: Sugar Refinery. io5A;
Tenn; Coal y Iron. 27A; Texas Pacific, 7zs; Tol.
O. Cen gtd IS; Unon I'M or Pacific s2s u 5; ES-
tMs; "a DO DO IRid; lo4i Wells Tsrso TX:
/. E., 11s6: do pfd., 35A; Mimi. & st. Louis,
10; Den. & r. G..121a General Hlectric, 263s;
Natl. Linseed, l8; Col. Fuel IL l., 271a; do
pfd.. 100; H. & Tex. Gen., N; Tol. A. A. &
North Mich, n; Tol St. Louis 4 X. G., g:
do pfd., 10; southern r. R., 9N; do pfd.. %;
American Tobacco, Tx; do pfd 100: American
Tel. and Gable, 93; U. S. Cordage Co. guaran-
teed, u.
Bond List
NEW YORK, Jan. 25.-The following are the
closingquotations for the bond list:
~: new As. reg. l13; do coup, ia;