The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-11-09
STOCKS AND BONDS
PRICES ON THE sEEsAW THROUGH
OUT THE SESSION.

Fluctuations Very Wide and Very Easy
Everybody Nervous, Holders Selling on
the Slightest Alarm and Shorts Cover
Ing at the First Symptom of Hardening
--'ostponement of the Nebrasks Maxi
muIa Freight Rate Decision is an
Influential Factor-sPanish War Scare
is Faithful at It's Post OF Duty.
New York, Nov. S-Prices Of stocks
fuctuated very widely and very easily,
traversing a range UP and down many
times in the course Of tho day. This in
dicated feverish tone of the speculative
mind, a readiness to dispose Of holdings
on a slight intinaatton Of possible unfavor-
able developments and an equally nervous
anxiety on the part of short sellers to
cover their contracts on any appearance
OF a hardening tendency in the market
The most favorable event IN the days hap
pen-ngs, so far as any effect on values
was concerned was the further postpone
ment Of the announcement OF the supreme
courts decision In the Nebraska maximum
freight case, which was confidently ex-
pected today. There has been assurance
felt in Wall street. that the verdict would
be favorable to the railroads, and even IL
q favorable verdict had been announced to-
day, proft-taking would probably have led
10 declines IN the stocks affected. But
the news Of the postponement led to the III
mcrs that the verdict would in fact af-
firm the validity of the contested stat
utes. This rumof induced much selling.
Special weakness was induced also in the
ccalers by the very discouraging reports
OF the condition of that industry, due to
oVer-production, cutting of prices and the
persistent mild weather. There was no
lacking TO che Spanish war scare which
was made do duty today. These demon
aliz.ng factors I'D not begin to be felt
until some slight Improvement over Sat
urday's close had been affected IN prices,
Sugar leading the way. There was nota-
bic Improvements also from the low point
before the close of the day. due to cover
ing Of shorts and on a supreme court de-
clsion against the Interstate commerce
commission as TO the regulation of rates
under the long and short haul clause where
water rates are In competition. In conse-
quence of this rise at the opening and
the improvement at the close. net declines
are much diminished Suirfts preferred
was tn first stock To exercise an unsettling
influence on the market, with a slump of
81 per cent on news Of the failure of the
kentucky DistilleTy combine. New Je--
sey CentrL registered an extreme decline
of 52i per cent, St oJseph and Grand Is
land frs preferred oft 5 per cent Della
ware and Hudson and Manhattan per
cent, and Sugar "a per cent, Omaha and
Lake Shore 81 per cent, Cotton Oil, Leath-
e. preferred, Pittsburg, Cincinnati, CHI
cage and ST Louis preferred, and Illinois
Steel from to So per cent each. and Bur
lmgton, Pittsburg Cincinnati. Chicago ana
St Louis. Chicago Gas, Missouri Pacific.
Reading first preferred, Illinois Central,
Northwestern and other prominent stocks
from 2 to "a per cent. the latter in Bur-
lington, % being largely affected by the
Nebraska maximum freight law. st. PAU
was quite notably firm on London buying,
and a number of other stocks were also
tcught quie steadily for London account
at tie decline. Sugar was very active
the day, and was quite sensl-
tive. Chicago Gas was a notable eXcep-
ton in the list, with net gain of a..
points Cotton Oil gained "a points net.
The total sales OF stocks today Were
$3.50 shares
BONDS.
Bcl,ds were weak in sympathy with
socks, but steadied later In the day. Tc-
tai sales, sl,550,Oo
United States new fours declined Il PEI
cent bid, and the fives registered q PEI
cnt, and the coupons Y per cent. Nel
rours, registered. and coupon, 127l4; fours. |
Il gistered. 112; coupon. 1l324; twos. 9S1l; |
lives, registered, 114ie; coupon, u4l4; Pa |
c.ric skies OF 'es, 1O2R.
FOREIGN STOCK MARKETS
New York, Nov. S.-The Evening Posts |
Lc,ldon financial cablegram says:
The stock markets were quiet and r. I
today. Consois were firm, because |
Of easier rates and shortness Of stock. Con- |
tangoes on mines are about the same as |
at the previous settlement. Kaffirs were |
" eak Australians We're good. The gen. |
zral settlement 10 begin tomorrow VIII |
probably be a small affair, with slightly |
easier money. Gold is in strong demand !
for the continent India is also buying |
moderately, but at present not on ex- |
change opera tons. but merely the usual |
j cmsnd for the bazasrs.
Americans opened steadier on the rise |
II New York. followed by small and feeble |
purchases here: then New York began 10 /
.ell. the market dropped. closing fat A |
Tow more such days viii probably entirely /
exhaust the patience of such few bulls as !
nX.st here. BraZils were fiat. Grand |
Trunks were strong on reports that nego-
atoms are proceeding favorably in arrang |
ng a new freight route with the Wabash
y stem over the loop line OF the old Great
Western company and via the New York,
Ontario and Western TO New York.
The Paris and Berlin markets were
,u.et. 1 am assured on fairly good au-
hority that IL is possible that the reich
oank may make no further change in the
-ate this year"
LOANS AND EXCHANGE
New York Nov. S---Money on cali easy
II ~ 10 , per cent; last loan. ? per cent;
closed -1@G2 per cent: prime mercantile pa
1er.- S34G41s per cent. Sterling exchange |
4 s52s for demand and at 81 S2ixI4 SSs4 for
sixty days: posted rates ASsi4G4. s6iz: COM
percisi bills. 4.S1S4. Silvot certificates, 57l9
. cents; bar silver. SIS cents; Mexican
dollars, 44&.
TREASURY STATEMENT.
Washington, Nov. s.---Today's statement
Ibrictio Ctrnnt nommicoinn M