The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-22
STOCKS AND BONDS
INCIPIEET BULL CAMPAIGN GETS
AN EARLY FROST.

There is Also y Tendency Among Deal
In Railroad Statements Is a Fa;r Test
of Prosperity-Sra,e OF the LOau and
Exchange Markets
| New York, Oct. 2i.-Wheat looked at one
time today like q resumption il force CT
the upward movement OF prices came to
an untimely end in the afternoon, on the
/ Wall street Interpretation OF SPANS :nten-
| ton 10 press for more stringent measures
! against fiiibusterers by the United States
| government and TO call this government
/ 10 account for the success of the expedi-
! tons. Prices were carried quite materially
! above last nights level a. one tine during
IN morning, the rise extending TO a point
/ Or over onSugar , Chicago Gas, Chesa-
| peake and Ohio. and Cleveland. Clncin-
natl, Chicago and ST. Louis, and 27s per
! cent IN Consolidated Gas. With the excep-
| ton of Cleveland, Cincinnati and Chicago
I and ST. Louis the gains were entirely
( wiped out in every important stock, and
net declines are near point in many iu
stances and considerably over tina. n a
number. This makes up 4 very wide range
| of fluctuations for the day. and movements
| OF prices were very conflicting and lrreg-
ular up to the final decline. There was
good deal OF commission house buying re-
continued for the most part largely pro-
fessional. Union Pacific was an element
I OF weakness. its heaviness being caused
by the reported circulation in the street
| of syndicate agreement being made, con-
har in
the case Reports we're also circulated
that money was being raised for this pur-
pose in London. Selling of stocks Cor
London account was more or less of
drag on this market.
The early rise in the market was aided
by the continued favorable character Of
statements of railroad earnings, and ru-
mors OF statements yet 10 come. But the
question is arising in the minds of dealers
in stocks how farthe present high earnings
are due to abnormal movement of special
commodities. The president of one OF the
great trunk lines points out that the rise
| in the price of wheat led to quick and
heavy unloading OF western granaries, and
that the settlement of the great soft coal
strike IS bringing forward very heavy ar
I rears Of traffic. He adds, cautiously:
1T is impossible TO state now whether
this improvement is due 70 the prosperity
of the country. After the abnormal bust
ness is over / Will be better able to state
whether the Improvement is likely TO con-
thu"
There has been. of course. a marked in
crease in the movement of general mer-
chandise over tn railroads. but ownrs of
shars in these properties are beginning to
custom the extent Of this general improve
ment.
Money continued distinctly easy in this
market. the bulk of the call loans being
made at about per cent No further
imports of gold are expected while Euro
pean money centers show the present rel
alive stiffness OF rates, the tendency be-
| ing all the tim TO incrase the differenc.
as shown by the sharp contraction in the
Bank of England's loans this week. Trans
actions today were on small scale. Out
side of the industrial specialties, the
grangers and one or two other leading
railroad stocks, Manhattan, New Jersey
Central the Starch stocks. Northwest,
the Pittsburg, Cincinnati, Chicago and ST.
Louis stocks, Tennessee Coal Rubber pre-
ferred and Pullman were the notably weak
points.
The total sales of stocks today were $685.
800 shares.
BONDS.
Transactions in bonds were dull and
prices IN the main were firmly held Deal
ings in Union Pacific collateral trust notes
were a feature. Total sales, s1,sO0,Go0.
United States old fours were advanced
Is per cent bid. the new tours, 4 per cent
bid, and the fives, registered, Il per cent.
and the fives. coupon. 4 per cent. New
fours, registered, 1852; coupon. l27i2; tours
tered. 1l4A; coupon, III; Pacific sixes Of
'9S. 1O212.
FOREIGN STOCK MARKETS.
London, Oct. A.-The market for Ameri-
can securities opened steady and varied
but little all day. The close was quiet. with
an active demand. The amount OF bullion
withdrawn from the Bank Of England on
balance today was $3.50 pounds OF this
sum 1900 was in 5American eagles.
New York Oct. H.-The Evening Posts
London financial cablegram says:
The Bank of England return has come
as a complete surprise 10 the market. The
feature is that the bank has lifted about
100000 pounds from the market, as shown
by the decrease, 1905. coo in other securities
and over 100. C000aJ pounds IN government
secur.ties Il was generally known that
the bank was borrowing, as was cabled
10 you early in the week. but the market
had estimated such borrowing al about
100000 pounds only. The reserve is up
only 10000 pounds in coin and bullion and
down al ,0000 pounds. which, as 1000
pounds in gold was exported for The week,
shows some returns from home circula-
ton.
The details OF gold for the week are ST.
90 pounds in eagles sold, 1900 TO the con-
tinen5 and 5000 pounds 20 Malta.
Il can now affirm that the recent with
drawal OF eagles was for Germany. not
for America
IN consequence Of the bank return, dis
count houses have raised deposit rates b.
!. per cent, 70 !. per cent and - per
cent for call and notice money respect
lively.
Regarding operations between New York
and London. an assured that the state
mencs as 70 large loans from New York
banks to London are grossly exagger-
a;ei, and this accords with The New York
cable . the Times tbs morning.
None the less. on this and the pros
pect Of future gold shipments 20 America.
I would prefer 10 make no assertion. be
yond &c .zct that eagles are going 20
Germany and TIA; TIE supply ct American
bis = failing Of.
It : believed that the bank ra,. may
Use before long.
TIE Paris and Berlin markets were Tile
and QIie- and s.nce TIE bank return
rather duh. cozsols leading. On app-e-
tensions OF desre- money, Americans were
firm, closing a about The bsst. bit quiet
P.erpoE; Morgan i taking very bgiiisaly. /
assuring everyone that trade prospects II I
America are assured Tor re next txo OF
three years. a. Least
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