The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-10

I
| Thereto, But 1t is st. Paul Which Shows
| the Way to the Par Mark, Attaining
That Altitude for the First Time In
Fourteen Years. With Sales of Enor-
nous volume-Bond Dealings Again
Center In the Atchison Issues.
New York, Sept 9.-The market re-
sponded to higher quotations in London
| with a fractional rise at the opening, as
it responded yesterday with decline.
The advance in Illinois Central extend
ed TO Is per cent, and in Southern pre-
, ferred 1 per cent, and the latter stock
held remarkably firm all day, in face of
heavy liquidation all through the mar
ket- Illinois Central rather unaccount-
ably declined nearly 2 points, in view OF
the brilliant achievements in earnings
porting an increase over August last
year Of SSH, 22s. The detailed statement
for July showed that the increase in the
net earnings fell just short Of $50, 900.
The stock rallied later and closed with
net gain. The market sank quite weak
~ under the heavy realizing movement
in the morning. London buying invited
realizing sales, and ii is likely that the
failure Of a large outside brokerage
house had something to do with the
heavinesS on account Of the liquidation
entailed upon agents upon the floor. The
decline extended to ! 5-S per cent in ST.
Paul, l 3-S per cent in Northern Pacific
preferred, and an average Of a point in
a large number OF leading shares. The
assembling Of the s.. Paul directors OF
a quorum present was the effective in
fiuence in checking the decline, on ac-
count Of the prevalent belief that an ex-
ira dividend would be declared. When
st became known that the decision of the
directors was in favor Of making an eX-
ira dividend Of one per cent the stock
mounted upwards strongly 10 par, which
il touched for the first time in fourteen
years. The price reacted a fraction
then as though the maximum had been
reached, but a renewed impetus was i'm
parted by the normous buying Of all
that offered and the price was lifted 70
101 per cent, and held there till the close.
Sales OF 81. Paul were over 139, 900
shares. This lively advance affected the
other grangers by sympathy and eX-
tended an improved tone all through the
list. The renewed strength in the grain
markets, the reports Of heavy traffic on
the railroads and the improvements in
earrings helped the rally. Oregon Navi-
CATION showed an increase of S223. 800 for
August. Rock Island, Atchison PREFER
ed, Missouri Pacific. Louisville and
Nashville, Northern Pacific preferred,
all scored notable recoveries. In the
specialties General Electric rose l 5-S
per cent, but reacted a fraction. Ma
tional Lead gained 2 Is per cent, Man.
haitian advanced at one time nearly 2
points, but closed with a net gain of a
point. The coalers were heavy, the de-
cline extending to point in Delaware
and Hudson. The prospect Of a settle |
ment of the coal miners strike caused
some movement in stocks of soft coal
roads. Chicago Gas was in good de-
mand and gained over a point. Other
notable gains were: Chicago and Alton
4 per cent; Consolidated Gas 4 1-2 per
cent; National Starch first preferred 4
and Oregon Navigation IA per cent.
The total sales Of stocks today We're
605, $3.50 shares.
Dealings in bonds again centered in
the Atchison issues, Central OF Georgia |
first incomes advanced Is per cent. |
The total sales were S3,700.00
United States old four coupon advanc- |
ed IA per cent bid. New tours regular |
and coupon leg; fives regular and cou-
pom IA; tours regular and coupon 113 |
IA; twos regular '9S, Pacific skies OF '9S, |
lO2.
THE ST. PAUL DIVIDEND.
New York, Sept. 9.-The directors OF |
the Chicago, Milwaukee and St Paul |
Railroad company have decided TO de- |
clare the regular semi-annual dividend |
IF 2 per cent, and an extra dividend Of |
per cent. a dividend Of II per cen. |
on the preferred stock was also declared. |
FOREIGN STOCK MARKETS.
New York. Sept. 9.-The Evening |
Posts London financial cablegram says:
The stock markets were strengthened |
.oday by the retention of the bank rate,
out the Americans are still the only de-
,artment where any movement Of i'm
is taking place. 4 quiet OPEN
ng in those stocks was followed by great
strength and animation, the bears
losing in anticipation of the settlement
md the public being small buyers OF
ow priced descriptions.
Fifty thousand sovereigns in gold
we're withdrawn from the bank today
or India, and $4,000 pounds for Nova
scotia.
The Berlin market was more or less
weak. The Paris bourse had a firm op-
ming. became dull, but closed at a re-
overy'
LOANS AND EXCHANGE.
New York, Sept. s.-Money on call
oninally l 1-4Q1 l. per cent; prime
mercantile paper 3-4G4 IL per cent.
Sterling exchange heavy with actual bu-
mess in bankers bills al Si.S6G4S6 IA
or demand and s4S3 3-4a4S4 for sixty
avs; posted rates s4Si 1-2G4S5 1-2 and
4S6 i-2qi.S IL; commercial bills s4.S2
=.
Silver certificates 5S654. Bar silver
3 IA; Mexican dollars As.
TREASURY STATEMENT.
Washington, Sept. 9-Today's statement
the condition Of the treasury shows.
.vailable cash balance s2l6. 2i9. l99; gold
eserve S1i5.0 ABS
LIVE SrnCE MaRKrrs