The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-03
STOCKS AND, BONDS
PHIDE G0ETH BEFORE A FALL, IN
THE STOCK MARKET.

Everything In the Morning Hours Seems a
Continuation of Wednesdays LONELINESS
Buying being Bold aud Confident and
Some sharp Advances Being scored,
Until all at Once 1t Is Discovered That
Realizing Movement Is Under Full
MISUNDERSTANDING Net Losses No
Marked.
New York, Dec. 1.-The character Of the
buying of the last few days was disclosed
by today's result on the stock exchange.
The day opened with every appearance
of yesterdays sharp demand for stock be-
ing still in force. The lower prices from
London were ignored and large orders
placed on special stocks caused sharp ad-
vances in the whole market. The amount
of commission house buyink indicated a
considerable awakening of outside inter-
est. The buying of the grangers. Sugar
and Union Pacific was especially bold and
confident and by the close Of the first hour
the market had become very buoyant and
some sharp advances n prices had been
obtained. Then, without any d.nlinution
Of activity, It became evident that the adj
vance in prices had come to stop and
that heavy realizing movement was in
progress. When Sugar fell point and the
general list showed an actual decline, the
market became dull and efforts were made
to rally it by pushing up the prices OF
special stocks. First New York Central
then Peoples Gas and Rock Island were
rushed UP by manipulation. But this plan
proved unavailing to effect a renewal Of
the advance, and during the final hour the
tone of the market had become decidedly
weak and there was lively throwing over
board of stocks to save losses. The bears
added the pressure Of short sales, and be-
fore long had succeeded in wiping out al
most every gain on the list. Net losses
were not large in any important case, but
the fall in prices from the high point was
marked. extending to points in Sugar
points in Consolidated Gas, about points
in many Of the specialties, and over point
in the grangers and many lead ding active
stocks. The news Of the day was not I'M
portant in its relation to the stock mar
ket. and, such as 1t was, It was favora bic
The forecast of the presidents message
sent out by the Associated Press had
re-assuring effect. Relief was felt over
the prospects that western railroad rates
would be shortly restored. Reports that
an adjustment was probable between the
government and the Union Pacific reorgan-
ization committee over the Kansas divis-
ion of the road gave special strength to
Union Pacific. and was a sustaining factor
in the general market. There was some
selling of stocks for London account but
II was without much effect and was con-
cluded by the time the reaction set in
in this market
The total sales of stocks today were 4i3,-
900 shares.
BONDS
The market for bonds was broad, active
and strong. Sales for the first hour footed
up to value of over a million and a half
dollars. Total sales for the day were A.
$4,000
United States bonds were steady and I'M
changed. New tours, registered, 1855; cou-
pom. 1851; tours, registered, 112is; coupon,
III; twos 9S1z; fives, registered. and coupon
114z; Pacific SKIES of '9s, ex-interest, $685..
FOREIGN STOCK MARKETS.
London, Dec. 2.-The market for Ameri-
can securities was firm from the opening
on New York buying. The closing tone
was firm and the demand moderate.
New York, Dec. 2.-The Evening Posts
London financial cablegram says:
THE stock markets were Irregular today.
The feature was the continued improve
ment in Americans, mainly on New York
support, operators in that city absorbing
supplies. All the arb.trage houses are
short OF stocks here this morning. Real
izations predominant. except, perhaps, in
Wabash bonds, which were bought by
house of operators who have made money
from the rise in Grand Trunk. The New
York demand for bonds was especially
heavy, notably for the Atchison, the Erie
and the Northern Pacific prer liens, and
for Reading tours. Prices of Americans
closed firm, with Unan Pacific, as usual,
a feature. A further rise is generally look
ed for here.
Speyer & Co. announced today the issue
here and in Amsterdam. of 1,20o0no pounds
Mexican National railroad ~ per cent
prior lien sterling bonds at 90, including
accrued interest. The issue price is really
about ssh per cent.
"Grand Trunks are still booming. KAT
frs were good. Gold was easier at rs 112.d.
The Paris bourse was firm, and the
Berlin market steady.
The failure is announced of large firm
Of merchants and financ:ers of aPris and
Buenos Ayres, with heavy liabilities IN
London and elsewhere, but fairly well COW
cred. The firm was interested in Uruguay
bonds. which are today about unstable"
Berlin. Dec. 1.-The advices received here
from Vienna exercised an unfavorable in
fuence on the bourse today, owing to the
riotlng at Prague and the declaring of mar
sal law in the most disturbed districts.
This feeling OF depression. however, was
relieved, though prices closed
decidedly weak
DIVIDEND DECLARED.
Boston, Dec. "A dividend of so has
been declared by the Calumet and Hecls !
Mining company, payable January I. TO
stock of record December 4. This makes |
80 for the current fiscal year. which be- |
gins May !, and $50 from the current cal |
,ndar year OF operation.
LOANS AND EXCHANGE.
New York, Dec. 2.-Money on call nom- |
nally iIkG2 per cent; prime mercantile pa
,er, $751;: sterling exchange easy, With |
.ctual business in bankers bills al 81 SIS: 1
or demand and sis2s4 So for sixty days: /
,os;ed rates, sLs4d+.S1; commercial bills, |
4 S2E; silver certificates. 5Slz; bar silver, |
si.: Mexican dollars, 46is.
TREASURY STATEMENT.
Washington, Dec e-Today's Statement. |
f the condition OF the treasury shows. /
AVAILABLE cash balance, s220, siI,s4o; gold re-
arve. $50. 6.oSg.