The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-29
UNDERGONE IS FIRM
0THERWIsE, THE STOCK MARKET
PLAYS ECCENTRIC.

Disposition to Take the Profits to be Harry
osted From the Late Advance is the
Largely Responsible Eeature-London
Interests Discount an Anticipated Re
NEUTRALITY-SUSPICIOUS. for the London -Ae-
count-Main Influences to be Found IN
the Anthracite Business, Sterling tx
chance and IMPORTANT Railroad Matters
New York. Jan. 2S-Irregularity was
the main feature Of the operations IN
stocks today = firm undertone was
in evidence, however, throughout. The
eccentricity Of the movement Of prices
was chiefly attributable 10 the profess
s-Olal cealeIs and others who prefer
red to take the profits accruinS IN me
advance. London operators also ap-
geared to discount an anticipated reac-
ton in prices. The liquidation in THIS
market for foreign account was esti-
mated at from 10000 TO 1900 shares
The DONNA ting influences in the specu-
lation were reports Of probable develop
ments in the anthracite coal trade o.
great Importance, as Tor example .
concerted shutdown OF collerleS Oy 81!
u the tAllduE4I Bll4d anu -NNH I'm N0---
panies With a view 10 relieving the con-
costing of the market and OF an i'm
pending advance of 10 10 % cents per
ton in prices early in February. other
factors were a decided weakness IN the
market for sterling exchange, bringing
the rates down TO figures prohloltory
of eXorts of gold except OF SpeclaI
character, and the formal decision OF
the majority OF holders of the conSoN-
dated first mortgage bonds OF the Kan
sas Pacific railroad 10 accept the terms
offered under the general Union Paclhc
reorganization plan. An item OF wide
spread interest in financial circles was
the decision of the United States SUI
preme court giving the Milwaukee
court jurisdiction over the Northern
Pacific system in regard 10 receiver
ship. The traders started in early TO
effect a substantial reaction, but IdllSI
to create much impression and material
declines were the exception. The ap-
pearance Of supporting orders IN dllIer-
ent parts of the list soon caused
scramble to cover, in which all OF the
early losses were recovered. In the IN
tervaI between the end of the first hour
and delivery time, tn only important
movments were in Manhattan, sugar
and Tobacco. In the final hour the
bullish influences above noted were
more fully reflected, the advances eX-
tending TO pa per cent in New Jersey
Central The grangers improved Tea
III per cent. Sugar IL per cent, and
Manhattan per cent. a slump OF 80
per cent occurred in Consolidated Gas,
but was unexplained unless due to re-
alizing sales. An advance Of GA per
cent in New England, on a transaction
of 100 shares, attracted considerable
attention. The trades were at loss
to account for the movement. The adj
hesion TO the Kansas Pacific cOnsoli-
dated first mortgage bondholderS To
the Union Pacific reorganization com
mittee, already referred to, was follow
ed by an advance of per cent IN the
stock of the last mentioned company
| The market closed strong, with the trad
| ing quite animated.
| The upward movement in the railway
and miscellaneous bond market was re
Sumed today with the Reading issues
again the feature on buying attributed
| to insiders. The total transactions We're
| s., S31, 900.
Governments were we'll held, except
| for fhe new tours, registered. which
| fell rs per cent on the bid quotation
| The sales amounted to $4,000.
BANK CLEARINGS.
Philadelphia, Pa, Jan. 2S.-Clearing:
| Sl1 ,027 $40; balances $l,77S,002.
St Louis, Mo, Jan. 2S.-Clearlngs 81
| EOS, 1913; balances $S01, 90.
New Orleans, La, Jan. 2S.-Clearing!
| S2,615,S71.
Memphis, Tenn, Jan. 2S.-ClearinS:
| S4O6, $50; balances S11S,515. New Aorl
Exchange 81 premium selling.