The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-12-20
TAKES IT QUIETLY
EUROPE HAS not D0NHED HER
WAR GEAR YET.

Cameron Resolution is Discussed More
Temporarily Than had Been Expected,
Which Reasons Start the Market on ON
This Side at Sharp Ga,ns-Market. SUBJ
jeeted Later to Unssvorsble Influences
OF a Less General Mature, Closes at De-
cIines-The Bank Statement.
New York, Dec. 19.-The stock mar
ket today was comparatively active ard
the tone feverish. The slump in prices
yesterday afternoon on the news OF the
decision Of the senate committee on for
eign relations to report favorably to that
body Senator Cameron's Cuban resolu-
tons led the financial community 10 ex-
pect a decidedly unfavorable sympathe-
tic effect on foreign securities in general
and American stocks and bonds in Lon
don in particular. Accordingly. consid-
cradle nervousness was felt previous to
the opening. regarding the probable
course Of today's market. Cabled adj
vices of temperate discussion of the Gu
ban question abroad and advances for
American securities in London, extend
ing to l is per cent in the active inter-
nationally listed stocks. changed the
speculative temper, and at the opening
was, between these unexpected req sons,
at sharp gains over last nights final
prices. Buying for the long account ac-
celebrated the advance, and the internal
tional arbitrage firms were also report
ed on the market. The improvements
scored ranged from 1Q2lie per cent in the
principal shares. After the initial deal
ings realizing and bear drive at Man
haitian railway in connection with the
threatened legal proceedings. caused re-
actions. Manhattan broke 21s per cent,
but later reacted to SSA per cent. The
subsequent movement Of the stock was
erratic, but ii left off practically un-
changed. The advance in the general
market was soon resumed and the bes,
prices of the day were reached in many
instances, special advances being noted
for Sugar and Burlington. Around IL
O'Clock the market quieted down and
fractional concessions were again made,
the increase of $4,000, 900 in the loans of
the associated banks from last weeks
figures exerting some unfavorable in
1uences. The market closed irregular
at general sharp net declines. Previous
~ the bears had made occasional drives
at the market on Washington news. but
the interest at large was relaxing its at
tention TO debates in congress and. in
fact, had begun TO take only a perfume
tory interest in the matter Wall street
mad made the mistake or figuring from
its own standpoint the assumed duty OF
congress on the Cuban question, and be-
lieved that the danger of friction with
Spain had been minimiZed. 1t was. how |
ever, declared that the discussion would
have no more serious results than a few
inipassicned sentimental outpourings il |
the senate and house. simultaneously, |
however, with the resolution news. the !
market slumped in all directions. Whole |
sale liquidation took place and right and |
left stOp-loss orders were reached, ac- |
celebrating the decline. Meanwhile the |
bears improved TO the utmost their OPP |
portunity. The more important losses |
ranged from TO s per cent in the active |,
list with the grangers and specialties the |
chief sufferers.
The bond market today exhibited I'M |
usual activity, the sales aggregating ST. |
104 0oC. Prices were feveriSh in SYM |
patty with the movement OF the stock |
market but the general undertone was |
firm.
The weeks bond market lacked fea- |
ture a side from the aggressive strength
in some of the usually inactive shares. |
The market generally moved irergularly. |
Comparative prices show losses OF 1G2 |
per cent in the leading speculative bonds. |
The sales were SS,075,000.
Government bonds displayed general |
Strength; until the closing dealings, when |
some losses were noted on the political |
developments. The sales were SlS9.5O0. |
Thet transactions aggregated only 10000 |
FOREIGN STOCK MARKETS.
New York, Dec. 19-The New York |
Evening Posts London cablegram says:
"The Cuban matter has Slightly de-
pressed the markets. but no approach
to panic of selling American securities, |
because the bull account is too small,
and secondly, because the stock ex-
change regards regards the affair light
" al present, except as a further evil
dence of jingoism. American securities
feel sympathy with prices on your side,
but are above parity. closing at the besc,
with buying of a very good kind. TIE
fail of Spanish securities was assisted
by the interruption of cable service with
Paris
BANK STATEMENT.
New York, Dec. 19.-Tne weekly bank
statement shows the following changes:
Reserve, increase a,eSS,S75; loans ~
crease S3512, 500. specie, increase $3.50. ,0Oe;
legal tender, increase s2,1l1, 100; deposits,
increase $685., 900: circulation, decrease
$4,000. The banks now hold S33.214,12o /
in excess of the requirement OF the %
per cent rule.
New York. Dec 19.-The New York
Financier says: The statement issued by |
the New York clearing house banks for
the week ending December 10 seems 10
indicate an improvement in the situa-
ton of the sterling exchange buying
which has been marked
feature in this center fer over week
past. Although the expansion in loans
is far from being satisfactory, the &C
cumulation of funds continues in larger
proportion and the excess reserve has
again increased up to S4S3, 213,is5, which
is higher than has been reported since
February Is last The accumulation OF
money. congesting the market beyond all
means OF relief, with the drawing OF &C.
OF course. has reacted on
the rates until they have touched the
lowest figure of the year. But there were
signs at the closing OF the
week of firmer tendency. due parity
to the Cuban resolutions, which have az
fected the markets in other cites. and
TO the approaching probability OF gold
exports TO Germany. where the situation
IS becoming stringent. With sterling eX-
change at present prices these exports
now would not be profitable. but this
might welcome a present an ef-
fiux OF funds which would put the local
money market in more normal condl-
ton. Money Is si,li flowing from the in
terror 10 New York. and the cash gains
Of the banks for the week were S,4l4. 500.
TIE increase in deposits was $500 .sc9.
The close OF the present year may mark
several heavy changes in these items, as
the January disbursement period Is a;
here and abroad