The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-01
STOCKS AND BONDS
RAILWAY STATEMENTS MAKE THE
MARKET WHAT 1T Is.

MARKET WHAT IL Is
Pennsylvania and Burlington are the Main
Features, Both Making Remarkably
Strong showings. But Previous PeculI-
arties of Burlington Statements are
Taken Account of and the Result il not
All That Could be Desired-Pennsyl-
vania, However, is q Boom Factor
Higher Silver Market,
New York, Nov. 3O.-Tne principal fac
TORS in today's stock markets were the
statement in October of the earnings of
two great railway systems of the country
namely, Pennsylvania and Burlington.
Both statements made a remarkably
strong showing, but that OF Burlington
had been discounted by a more active
speculation on the rumors whice have pre-
ceded the publications for some time past
having grossly exaggerated the proper
. tons AS consequence there was some
disappointment in speculative circles over
the Burlington statement and some profit
taking which impaired heavy tone to the
whole of the granger group until late in
the day. In the final hour prices Of the
group shared in the strength of the gen.
eral market. Rock Island led with net
advance Of ~ points on reports that the
company's refunding scheme had been
perfected and the sale of the first block
of new per cent bonds concluded. The
October statement of the Pennsylvania
system With its increase in gross earnings
of 100000, and in q net Of s435, 100 was re-
Garded as strongly favorable and as re
hectiDg q large general improvement In
business. The stock Of the Pennsylvania
road rose 2s points under its influence and
all of the trunk lines showed a marked
degree Of strength, Now York Central,
Lake Shore and Canada Southern rising
from I 10 points Although the Burling-'
ton statement compared with very strong
month last year, and with one less bust
ness cay In the month than last year, and
although both the bross and net earnings
fell slightly below those of September of
this year, the falling eff from the record
month of September was small There
was a very marked increase in the operat-
ing expenses both for the Burlington and
the Pennsylvania, amounting to s44O33O in
the case Of the former and s2S1 900 in the
case OF the latter, rejecting the arrearages
OF outlay for maintenance which exist
generally all over the country. The Erie
end Lehigh Valley also had very favorable
statements for October, but in both cases
heavy Increases in operating expenses alb
sorbed large proportion of the increase
in gross earnings. Speculation in Sugar
was again very active all day and the stock
rose strongly, closing ~ points higher
than last night. The approach of the reg
ular dividend period and expectation of a
favorable decision by the treasury depart
1nent on the question Of countervailing du-
ties on imported Dutch sugars were the
causes Of the rise. Northwest and Omaha
show net gains equalling a point Consol-
dated Gas is IL points higher on the day
and New Jersey Central IL points. 9th
erwise net gains in the stock list are con-
fined to fractions and there is fair sprfnk-
ling Of small losses through the list Sales
of silver certificates on the exchange of
1000 ounces at from 14d592l cents were
a feature of the day. Bar silver sold in
this market at 5s1k cents, a price which
had NOT been equalled before since July
p. Bullion dealers have no other explana-
ton to offer 70 the strength of silver but |
the existence Of active demand and a linn |
tied supply.
100 shares.
The bond market showed some activity |
and strength in high-grade issues, being
very firmly held. Total sales were 1,ss5, 900.
United States old fours registered, ad-
per cent bid. New tours regis |
tered and coupon, 12s1s: tours, 1875 coupon |
III; twos, 9S1e; f1ves registered and coupon, |
ll4A; Pacific skies of '9S. 1O2Ss
FOREIGN STOCK MARKETS.
London. Nov. 30-The market for Amer |
lean securities declined somewhat but stiff |
fened later, New York buying and aiding |
the upward movement. The tone was
steady and the demand generally light.
New York, Nov 3o-The Evening Posts |
London financial csblegram saws:
The only feature of the stock market !
today was the strength of consols They |
touched the highest price on record. The |
rise was. due to the scarcity of stock. to |
bear re-purchases and to the small govern /
inent buying. Americans opened disap- |
po!ntingly. At the same time the tendency |
here at the moment IL rather to buy on |
each fall than to sell.
There was sharp fall in West Austria
ian mines Business generally was re-
stricted by the interruption of cable serv- 1
Ice with the continent, owing 10 the |
storms"
LOANS AN EXCHANGE.
New York, Nov. 3O-Noon: Money on |
call nom4nally at I15T2 Prime mercantile |
paper, SdSls: sterling exchange, strong,
with actual business in bankers bills at /
81 S6d4.Se1< for demand and at 81 s3d4. Ss14
for sixty days; posted rates, s4s494.S7: |
bills, 81 s21zd4. s2s.: silver GER
t,fcates, sales, 1000 ounces at 59I5d69s.;
bar silver, 5s15; Mexican dollars. l614.
TREASURY STATEMENT.
Washington, Nov. S.--Today's statement
Of the condition of the treasury shows:
Available cash balance s9l6, 76S, 30: gold re-
serve, sl57, 113,9SS.