The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-11-10

Usually Inactive SHARES Continues {.
be Decided Feature-HeavierC Coin mis-
sion House Business Keported-Invest.
ment and Speculative Bond Issues shar,
the Inquiry-Railways Lead in the Day,
Tradins-Closins Is Strong at the Day.
Best-London's Tone is Confident.
New York, Nov. 9.-Tne broadening
character Of the stock market and espe.
cially the materially increased activity
in the low-priced and usually neglected
shares continues a decided feature and
gives the market an ol5-time bull ap-
pearance. The room traders have been
fighting the rise, but at every occasion
new buying orders appear in large vol
ume, end with notably heavier COM
mission house business reported. The
inquiry also extends to the investment
and speculative issues of bonds, the I'M
DERIVING factor being the more cheerful
sentiment regarding the financial and
general business outlook and the in
creaslng ease in the money and discount
markets. The rising tendency is also
stimulated by the continued strength of
the wheat market, caused by further
foreign crop damage reports and the re-
V1ved industrial and commercial activ-
ity. The railways as group by far
bVershadow the industrials in extent of
business, although activity was noted in
Sugar and Chicago Gas. The market
was irregular in the early dealings with
an easier tendency, due to realizings of
tho rtaof- rr-f~A Il Id
in the market for foreign exchange. The
rates for actual sterling were ad-
vanced y cent, to s4.S6A and s4S3 for
short and long bills by some drawers
and posted figures were successfully
put up cent on the day, to s4.S3ls and
siS7. The easier money rates here and
a hardening tendency abroad, covering
OF sterling loans, payments for gold and
mercantile remittances and the effect OF
recent sales Of our securities by for
eign holders, are variously attributed as
the factors IN the present upward
movement in exchange. Rates for
prime mecantile paper fell today II per
cent, to 5n per cent, as the minimum
figure and six months and year money
was freely offered at 412@5h per cent
A decidedly favorable influence upon
the general market was exerted by the
exceptionally large bids for the s16 ,0O0,-
900 of New York City bonds reported
The stocks Of the soft coal roads In the
ONO region improved materially on the
news OF the efforts that are to be made
to bring about an agreement and res
toration OF prices and transportation
rates. as noted in these dispatches. The
general market moved in cratic fashion
owing to the efforts of sold-out bulls TO
q iax-a al -
the railways was narrow, but tle early
recessions were subsequently more than
recovered, in sympathy with the buoy
ancy in the low-priced shares. North
ern Pacific preferred, Colorado Fuel and
Valley attracted attention and
Consolidated Gas displayed exceptional
strength on buying set down to ipves-
tors. The stock rose 81 per cent, to
1879 per cent Bay State Gas, on the
oner hand, after an early improve
nent or y per cent, sagged steadily and
lett or 3 per cent net lower. Manhat-
tan rose per cent on rumors of i'm
portant impending favorable develop
nents, to which further reference is
made in another column. The anthracite
coal stocks We're stimulated by the gen.
eral builish temper, more on the
strength of expected combinat tons than
If trade conditions, which are said to
De unsatisfactory. Exceptionally wide
fluctuations were noted on small trans
actions in Buffalo. Rochester, and Pitts
BURG preferred. which rose 5 per cent.
Chtago Gas fell 3 per cent on realizing,
'ut later recovered most of the loss.
The closing was strong at the best
prices of the day. The net gains in the
active list were mainly fractional. but |
'1nuGd IN & in, ~
ies. |
The total sales OF stocks today were |
4O.S46 shares, including: American Su- |
'ar :'.T00; Burlington and Quincy a.
90; Chicago Gas 1880; Columbus. |
locking Valley and Toledo 1850: Gin |
'innati, Cleveland, Chicago and St. |
-ouis 1890; Chesapeake and Ohio 400; ]
iereral Electric 10000; Louisville and |
Nashville LOO; Manhattan $500: Mis- |
nuri Pacific 500; Northern Pacific g.
co: Northern Pacific preferred 1920;
,ntario and Western $500: Reading
$500; Rock Island IL 700; st. Paul "a
%; Tennessee Coal and Iron $500;
'exas and Pacific 10000: Union Pacific |
800; Western Union u. 700: Wheeling
nd Lake Erie $500; Wheeling and |
AXE Erie preferred $500: Southern
,ai'road S.109; Southern Railroad pre-
erred $500; silver certificates 1000.
he railway bond market continues
display decided strength on heavy
purchases by the foreign |
roitraSe houses being quite a feature. /
.arse books off, speculative tonds
hanged hands today and a keen in
ulry was also noted for silt-edged in
estment bonds. The market embraced |
lany OF the usually inactive liens.
and New Albany consols
xes advanced 3is per cent. 10 90 per
ent, on the announcement that an
sreement had been reached between
lie reorganization committee and dis
snting bondholders whereby interest
4 the A.I00.000 of new bonds which are
} be given in exchange for consols
'urs advanced TO 6 per cent. The i'm
rovements in the active issues were
ainly fractional but material ad-
ances We're noted in the usually inact-
e bonds. Atchison. Colorado and Pa
fic firsts, and Toledo. st. Louis and
ansas City firsts rose per cent. Utah |
outhern extended AZ per cent; Utah
,uthern generals "a. per cent; North !
n Pacific and Montana firsts I per ,
mt; Kansas and Texas fiyes and Ore ,
N Improvement fives SO. per cent: 81. ! ,
'seph and Grand Island firsts 81 per
Mt. The sales were So. 433. coo
Governments were firm on purchases /
$50. 0oa
Silver certificates duled steady on
les ot $4,000
FOREIGN STOCK MARKETS.
New York, Nov. 9.-The Evening
1sts financial cahiegrsm says:
The feature in the stock markets TO- !
y was further rise OF u Pc cent in
nSols. Americans were a little dull as {
result OF sales 70 balance books be- I
re the settlement. No increase in {
ntangoe rates is looked for. The tone