The Wichita daily eagle., 1897-09-17
STOCKS AND BONDS
SHARE MARKET CLOSES AT a
LOWER PRICE LEVEL.

Day Of Great Irregularlty, With Constant
| Up-and-Down Movement on the Whole
Over . Narrow Range-Largc Number
| of Stocks Show Fractional Gains aud a
Few, Notabie Losses-Prices Higher a'
Opening, Recedipg on Liqutdation-Ex-
change Situation Aids tho Reaction
Bank OF England's "silver Reserve"
New York, Sept. 16.-The market this
evening closed with a general level OF
prices lower. after a day Of great irreg-
| ularity and constant moving up and
| down on the whole list, over a narrow
/ range. Quite large number OF shares
showed small fractional gains and few
stocks shok notable losses, but the gram
gers, Vanderbilts. trunk lines and trans
continental lines as a whole declined in
value. This Is true notwithstanding the
fact that London was buyer of the IA
vorite stocks all the day and all the gen.
eral news as 70 the improving business
and increased earnings Of railroads con-
tinued to favor advancing prices. Prices
were in fact higher at the opening, but
liquidation quickly set in and prices gen.
orally receded The closing of the ac-
counts Of failed firm under the rules
of the stock exchange had something to
do with the undertone OF heaviness that
was manifest all day. The fear OF inter-
IL, 1a fr1 yr01 1nrxy
fever also depressed the price Of railroads
in that region.
The steady tone manifested in the ex-
change market early in the day had the
effect Of discouraging hope Of tine early
importation of gold, and this had its in
fluence in aiding the reaction. This had
the greater effect because OF the harden
ing tendency of the money market, ask
ing rates for call loans being as high as
21a per cent.
The market weakening on the ex-
change market in the last hour, served
to steady prices Of stocks 20 some extent.
the decline not only being checked, but
recoveries being shown In the closing
transactions of the stock. The rate OF
seems evident from the action Of the
Bank of England In maintaining its
minimum discount rate Of 2 per cent, in
face of the continued decrease Of its re-
serve and its stock of bullion, that Lon
don expects Paris TO supply the first de-
mands of this country for gold. But the
Paris exchange on London recorded a
ron ;aI,
to weaken the force of the New York
exchange demand on Paris.
Northern Pacific issues were at one
marked advances, as was true also Of
Consolidated Gas, Pittsburg, Cincinnati.
Chicago and ST. Louis, Chicago Great
Western and the Minnesota and st Louis
stocks. All Of these reacted from the
advance over last nights close Pitts
burg, Cincinnati, Chicago and ST. Louis
common and preferred show net gains of
] 3-S per cent and per cent respective
ly. Consolidated Gas also gained two
points net after being 2 points higher.
Other marked gains were Buffalo, Roch-
ester and Pittsburg 8 1-2 per cent; Chi
Evansville an7 Terre Haute preferred,
ga per cent, and Erie first preferred,
Bay State Gas, Illinois Steel, Linseed Oil
and Omaha preferred point or over
The declines extended beyond fractions
in the cases Of Sugar, Canadian Pacific,
Illinois Central, Kansas City, Pit,sburg
and Gulf, Louisville, St Joseph and
Grand Island second preferred. and Keo-
huk and Des Moines preferred
The total sales OF stocks today were
$50, 900 shares.
BONDS.
Transactions in the bond market were
IN a considerably diminished scale and
prices were somewhat easier. The total
ales were on a par value of about Sc, ,OOO,- |
JOO
The bid price OF United States new As
vas IA per cent lower; new As coupons |
old at 125 IA per cent, and registered a
"A Is per cent. New As registered and |
coupon, 125 81; IS registered and coupon |
IA IA; fours registered Ill IS; coupons. |
IA IL; IS registered, 9S; Pacific skies OF |
IS, 1O2
New York, Sept. 16.-The Evening |
POSTS London financial cablegram says: |
The stock market was quiet here 20
lay and dull, but after a setback on re-
eipt Of the New York opening, prices
losed stronger. Low-priced shares were
argely bought by speculative operators
ere. Grand Trunks were booming early
n ha hr,- 1
he remarks today of the governor OF
he Bank OF England about silver in
ne reserve had little effect. The provi-
rs attached to his letter TO the chancel-
)r Of the exchequer are 50 impossible
nat it is believed that nothing will come
the notion.
The Paris bourse was weak on the
harp break in Spanish securities. The
erlin market was steady"
LOANS AND EXCHANGE.
New York. Sept. 16-Money on call was
rmer a. 1-2G1 3-4 per cent; last loan.
1-2 per cent; closed 1-2 per cent; prime
lercantile paper, 4Q4 1-2 per cent: Ste--
ng exchange weak, with actual busi-
sSs in bankers bills al SlS4 7-Sa4. IS for
emand. and sASo)1-204S2 81 for sixty
ays; posted rates S4S3 1-2G4sil-2 and
t.S5 1-2G4s6 1-2. Commercial bills s4S2
liver certificates. $685.: bar silver, 55s.;
Iexican dollars. iS cents.
GRAIN AND PRODUCE MARKETS
CHICAGO,
grain and pro iGce markets fur. $
shed by Il. L. Bostick, COMMISSION Ner. ,
iant. rooms 10 and l2 over Kansas Ma
onal bank. Telephone i6..