The Wichita daily eagle., 1896-11-12
SHARES ARE LOWER
MARKET PAUSES IN ITS CAREER OF
IMPROVEMENT. ;


tice-Gensrai News and Gossip of the
Street. Of q Eeactionary Tendency =
American Spirits Plays the Star Part,
With the Railways the Leading Group
London Market Closes Better.
New York, Nov. 1.-THE volume OF
| business in stocks was somewhat below
| the recent average today and the rail-
road list maintained its leadership IN
point of activity, as group, although
| the banner record was made in American
Spirits. The course Of prices evidenced
clearly a continued disposition on the
part of the leading operators, until re-
cenly prominent in the upward move
ment, to force a reaction. Their argu-
| ment is that the rise has progressed, in
fashion, 10 an extent that has encourag
ed what is technically termed ''pyra-
MIDI buying by operators on small mar
gins. In other words. spectators with
little money have used their profits as
margins for further purchases and have
endeavored 10 protect themselves by Stop
orders. Conservative traders always re-
gard this element in the speculation as a
menace to the market and usually apply
heroic treatment TO bring out the weakly
held stocks. The gossip and news fur
nished by the street was conducive 10
moderate reaction and, in addition, the
market was depressed later in the day
by unfoulded reports OF the death, or at
least serious illness Of Coruenlius Wander
bilt London prices were lower 10 the
extent of sharp fractions. and aroitrage
1,o ctn Fnreipn aRNGInL
A number Of traffic reports for the first
week in November were unfavorable. in
Guiding that of the st. Pau showing
decrease in gross earnings OF sl9o,Oco.
The annual report of the Manhattan
Railway was fully as discouraglng as
had been expected and the stock was The
weak feature OF the market, the publ
cation of the report being anticipated oy
a decline of 3A per cent. The stock SUD-
sequently rallied per cent, but closed
within a fraction of the lowest price. In
view of the temper of the street, the de-
clara OF the regular quarterly divl-
'dend Oh Burlington, the formal agree
ment OF the representatives OF the ONO
coal roads to form a new organization
for three years and revived indefinite ru-
mors of settlement in the Tobacco flgnt
failed to effect prices. On the other hand,
a SuluCleIll Va odNSlNC 10y i-'S
ders appeared, especially in the low pric-
ed stocks. to moderate the downward
movement in the general list. In some
stocks, notably American Spirits, Chlca-
go Gas and Northern Pacific preferred,
strength was displayed at Intervals. Su-
gar was the especial point OF attack in
the late session, and yielded 1ss per cent,
despite favorable news. There was fair
activity in the specialties. The closing
was weak at about the lowest prices,
with net concessions of 1a11 per cent
in the active stocks.
The total sales Of stocks were today
sos, 1893 shares, including the following:
American Tobacco, 5000; Atchison. 300;
American Sugar 22,100; Burlington and
Quincy 1,500; Chicago Gas 1850; Coz
umbus, Hooking Valley and Toledo, 2,4O0;
General Electric $500; Louisville and
Nashville, II 800; Manhattan consolidat-
ed 3S,5C0; Missouri Pacific, 1000; North
ern Pacific; 1900; Northern Pacific pre-
ferred 1S7eO; Ontario and Western 800;
Pacific Mail 500; Reading 21,SO0; Rock
Island 1900; st. Paul. $4,000; Tennessee
Coal and Iron 41O0; Texas Pacific 400;
Union Pacifis 1880; Western Union 6,700;
Wheeling and Lake Erie $500: South
ern Railroad 300; Southern Railroad
preferred $500; United States cordage
4, 800; Silver certificates 5000.
Railroads were fairly firm on lessened
dealings. The usually inactive issues
scored material gains. The sales were
s.. .31SO00.
Governments were dull but firm on
sales of $4,000.
DIVIDENDS DECLARED.
New York, Nov. 1.-THE directors Of |
the Adams Express company have de- |
ciared the regular quarterly dividend OF |
per cent, payable December l.
The Chicago. Burlington and Quincy !
company has declared a quar-
terly dividend of per cent.
New York. Nov. u.-Evening Posts |
London financial cablegram:
The stock markets today were irreg-
llar, fluctuating widely but closing bet
er. Home rails were the best market. 1
There was also smart rally in mines.
American bonds were bought, but shares
we're dull, though closing firm. The Bank
II England is diScounting on the terms
stated yesterday, but the money market
leeps firm on the short supply Of money,
besides other causes. The revival IN
lonse trade is absorbing cash. Half a
million OF japanese money was released |
t the close today. The prevailing mon
Y rate today in the open London mar
let was l1-16 per cent. \ considerable
um was borrowed by the market from
he Bank or England. Ore of the fea-
ures Of the market was the allotment OF
ndia council bills a Is 27-32d. which
ompares with a rate OF Is ESD fort
light ago. This advance IS explained by
he fact hat money is very dear in India.
n Paris the market was dull and in Ber-
n. quiet
Tan1n0 Nnv f1-{~lnESrcy =ITz <nr 1
loney 40 3-S; for the account, 10 1-2;
-anadian Pacific, 81 is; Erie. Il 5-5S;
.rie seconds. 80 IA; Illinois Central.
12: Mexican ordinary. q 1-2; St.
aul common, so 3-4: New York Central
1-2; Pennsylvania. SO; Reading. 16:
Iexican Central. new fours, Il IA; bar |
liver. - 7-Sd. Money 1-2 a IA per
ent. The rate OF discount in the open
larket for special and three months
Ills is a "a per cent. Geld is
.icted at Buenos Ayres today al IS 40,
isbon, 81: Rome, 1867 l-e; amount OF |
ullion withdrawn from the BANK cf
ngland on balance today $1,000
ounds. Bar gold is quoted az 71s Id.
Paris. Nov. 11.-Three per cent rentes
OF soc for the account; exchange on
onion. 255f &c for checks.
Berlin. Nov. u.-Excharge on London
ght days sight 20 marks S6 I-2 pfen-
gs.
LOANS AND EXCHANGE.
New York. Nov. u.-Money on call }
.sy ar 3G4 per cent; last loan I-e per !
mt: closed az I-2 q 4 per cent: prime
ercantile paper 1-3I6 1-2 per cent
erlng exchange weak with actual 8
lsiaess in bankers bills a. Sass LA |
So I-2 for demand and siH 3-464S2
= sixty days. Posted rates AS2 l-a
4 s3 1-2, and Nss64s7 Commercial :
lis S:.Si Silver. commercial bars
&c lower bid at sSQ65 S-i4c per ounce;
'vernment assay bars 50 1-ids5 II c