The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-02-02
1T CLOSES SELLING
STOCK MARKETS PHASES FOR TIT
DAY ARE MANY.


ate silver Bnl-UPturn Manipulated and
Advances Decentralization and a Selling
Movement Closes the Day, With the
Market Quiet Bot neavy-Anthra-
cite Agreement and the Northern Pa
cifc Decision.
New York, Feb. 1.-The volume OF bus
mess In stocks today was rather below
the ha1-holiday average. The prices OF
most shares We're shaded at the opening
owing partly to lower quotations from
London and moderate selling for that &C
count here, and liquidation on apprehen-
sion OF the probable passage Of the free
silver bill in the senate. Manipulation
for an up turn was soon discernible, how
ever, and an aggressive strength in prices
developed and sharp advances occurred
all along the lines. eneral Electric was
the feature OF the dealings. rising per
cent on rumOrs that the company had
submitted specifications 10 the Manhattan
railway Tor change OF motive power and
that the same had been accepted. The
lack OF confirmation Of the story, coupled
with the general reactOnary movement
late in the day, was followed by realizing
sales, resulting in the loss OF part OF the
Improvement. The gains in other shares
were OF less Importance. but Sugar, Ten
nesSee Coal. Union Pacific and Rock
Island figured for about a point. In the
last hour general selling movement Oc-
CURED. Burlington was exceptionally
weak, falling l per cent on disappoint-
ment over the December exhibit of earn
ings. The market closed quiet but heavy
nj tone.
Total sales OF stocks today were So 90
shares, including American Sugar :. 100,
Atchison 700. Burlington 4.200. General
r~ia EtsN IL N,r-f1r
so, Missouri Pacific 200. Reading 4.400,
Rock Island 4Sto. St. Paul 1850. Southern
Railway preferred 400 Tennessee Coal
and Iron 300, Union Pacific $500, Wheel
ing and Lake Erie 5000.
The all important event of the week was
the definite agreement entered into by
the eleven graf anthracite producing and
carrying interests relative 10 the division
or he tonnage between the respective COM
panieS. Efforts had been made at in
terValS in the last three years 10 rear
range the schedules of output 50 as TO in
clude the interests that had developed into
active operations since the original agree
ment was made, but without success. All
doubts Of the practical character Of the
plan now in force have been disposed Of
by the closing down OF a number OF coal
mines, chiefly belonging 10 the Reading
and by the prompt action of the sales
agents IN limiting the output for the cur
rent month, with a co!ncident average
advance OF 20 cents per ton in prices over
the recent actual selling figures. In
Wall street, OF course, the episode has
been hailed with profound satisfaction, as
foreshadowing the rehabilitation OF the
Reading and a return TO big dividends for
the security holders of the companies con-
cerned in the dea.. In the slang of the
street, IL means rake or" OF from $l5.-
OJOO,p TO $3U,CUJ,OtO TO be divided this year
Interest naturally centered in the anthra-
cite coal stocks and advances from the
low points followed Of "a per cent IN New
Jersey Central, ~ per cent in Reading,
t per cent in Susquehanna and " estern
preferred, $50 per cent in Lackawanna and
224 per cent in Delaware and Hudson
Reading securities were the most active
OF the group, heavy blocks OF the stock
and bonds being dealt in. 1t is reported
that 60 per cent OF deposits have been
made under the plan of reorganization
Previous 20 the competition of the coal
deal the general market had reflected the
manipulation Of two prominent profess
Sional operators, and a reaction in prices
had been expected. The buoyancy Of the
coalers, however. had stimulating in
fluence upon the other shares, which was
increased by the publication of num-
Der Of favorable exhibits Of railroad earn
ings.
An easier tendency in the money and
exchange markets also encouraged bull
sentiment early in the week. The move
ments in prices were Irregular. but the
undertOne as noted was strong. London
was a factor on both sides of the account.
mainly as a buyer. Towards the close
the free silver agitation IN the United
States senate unfavorably affected the
sentiment Of the financial community, but
powerful support was evident In the mar
ket and the losses were recovered. a
sharp rise in Manhattan was attended by
revived reports Of preparations for an
electrical equipment of the various
branches. The aggregate sales were l.
2lO,6 sd shares.
The railway bond market was governed
by the Identical influences operative in
stocks. The anthracite coal agreement
coal prices caused exceptional movements
in Reading issues. The fours trust re-
ceiptS rose "a per cent, do unstamped 3
per cent, do first preference incomes trust
receipts, first assessment paid 63s per cent.
co second per cent, do thirds Us per
cent, and do deferred incomes l per cent.
The Northern Pacific mortgages were also
conspicuous for strength on the decision
of the supreme court fixing the court OF
primary Jurisdiction. This Will, IL is be
straighten out the tangled affairs OF the
system. The earnings published were also
favorable. The aggregate dealings for
the week were tl2.50sO10.
Today's bond market was irregular but
mainly firm. The dealings amounted TO
S7S5 900.
Governments were heavy with a decline
OF per cent in the bid price OF the new
=.
week concessions are noted from the bios
current al the close Of the preceding week.
The trading was increased in volume,
amounting TO S22S coo.
Renewed animation was noted IN the
speculation in mining stocks. The sales
were 70. so shares. with but slight changes
NEW YORK LOAN STATEMENT.
New York. Feb. The New York Fin
ancier says this week: There was less
oh in He - sa- NJ DO Nv ha A
ISOLATED banks OF New York for the week
ending February I, than had been expect
ed. The decrease IN loans was only nom
inal, compared with the heavy liquidation
which has been going on without inter
ruption for weeks past. The banks report
a gain OF 81 IT so IN cash during The week.
although the4ntsT4Or movement must have
increased their holdings not much less
was only $500. Il would be interesting
20 know how much OF this was II gold
and what proportion 81 silver certificates.
The statement, z u IS 20 BE interpreted
f. a general sense. means, more than any
thing else, that banks have made ample
preparations 20 meet the new loan. They
he'd. a. the close OF the week, an excess
cash reserve q 80. 0~l 90. as compared
with about Ss. 5000 during the middle q
December. They have reduced the.r loans
over 81, GO 90 and they have 81 90. 90
more n cash hol1irgs than a. The tine
mentioned
BANK CLEARTNGS
New York. Fso. L-Clearlngs. tos 30 20.
Boston. FEB L-C.eanngs. E4.545ss5. bal
PhiIaEelphIa, FEB. L-Clear-ngs. t.0s5.-
-; balances, S.s-4- 81
baltimore. Fso. L-Clearngs. E,y-5 Sos
balances, Szs.2
pvpopTS AID -rpORTs