The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-11
STOCKS AND BONDS
INDUSTRIALS STILL BEAR THE
BRUNT OF TIE BEARS.

Feature-Bonds Continue Strong.
| New York Feb. 1o-The stock market con
tinued within the same narrow limits to-
day that have Characterized it for some
time past, the trading being almost wholly
confined 10 the industrials, with little evil
cence of any demand or inquiry otherwise
| than by the room traders seeking a days
margin Of profit in manipulation of the
| stocks. Sugar dominated the market for
miscellaneous securities sympathetically
owing to the large volume of the trading
in that stock, but railway shares, though
the transactions in them were Of small ac-
| count, showed disposition to move indie
pendently Of the overshadowing industrials
The bears attack on the industrials was re-
| sumed with the opening of the session with
renewed visor, and they succeeded in de-
pressing Sugar is per cent, Tobacco II.
per cent, and Leather preferred per cent.
The subsequent fluctuations IN these stocks
| we're Very marked, being caused by the
| covering OF the shorts. There was moth
ing to show well sustained support for any
| OF them, and they seemed to be left 10 the
course of manipulation. A clear idea of the
gained from the fact that out of a total OF
| $4,000 shares sold on the exchange today,
about $500 were OF the industrials, Sugar,
| Tobacco. Leather and Rubber, ard $500 OF
| these shares were of Sugar. All sorts OF
rumors and reports were used to press
down the price OF these stocks, the princi-
pal apprehension concerning them being
IN regard to the trust investigation COM
nlitttee The pressure against Rubber was
particularly severe the common stock yield
ing IL per cent, and the preferred . per
cant, With a final recovery OF per cent.
The influences upon this stock were re-
ports That certain Of the Rubber proper
ties were to close down and that opposition
ty competitors was likely to develop. Therd
were also sharp declines in the anthracite
coal group.
The railway list was well sustained by
late aGvices of a strong and higher market
for American securities abroad, in corse-
quence of an improvement in the political
outlook. The very favorable traffic state
ment of ST. Faul for the first week in Feb
ruary. showing an increase of 1928, also
helped prices of railways, notably of the
srangers. The Importance sought TO be at
tached by the bears to the report in the
serious illness of President Roswell G. Mil
Il L
nc statement. There were some foreign
sales Of the stock, but it was well sustain
ed throughout and closed unchanged. Hi
nois Steel was prominent feature in the
days business. and the price moved widely
according TO the tenor of the advices from
the annual citing in progress at Chicago.
Nothing authentic as TO the annual re-
port was received up to the close of bust
ress. But the bears were inclined to at
tach importance TO the rumored dismem-
berment Of the steel rail pool and the re-
port OF strained relations between the Hi |
nois company and the Carnegie and Rookie
Teller interests. subsequently discredited. |
The stock fell IL per cent, to 32ls per cent. |
rallied to Sal. per cent and reacted to S3l2 |
per cent The alleged unsatisfactory situa- |
ton CT the steel trade generally also af- |
corded pretext to successfully attck Colo |
rado Fuel, which was depressed IA per |
cent.
The price of Sugar rallied in the final |
hour a; per cent, to 1925 per cent, on a !
reported advance in the price of the pro- |
duct, and on extensive covering by large |
short interests. Tobacco gained IL per |
cent and other shares important fractions. |
The closing was sluggish but generally |
steady.
Tie total sales of stocks today were 1884,, !
sos shares, including: American Tobacco, |
$500; American Sugar. $1,000; Burlington. |
400: Chicago Gas, 1850; Delaware and |
Hudson, $780, Northern Pacific preferred. |
$500; Reading, $3.50; st. Paul, $500
The bond market continues to maintain a
decided undertone of strength, despite the
weakness apparent at times in the share
speculation. The heavy absorption of the
principal liens FOR foreign interests encour-
age a better demand by local investment
interests, which is reflected In higher and |
wider market generally. Some weak spots
are disclosed through specific developments
but changes mainly are in the direction Of |
improvement. The announcement that the /
Union Pacific sinking fund SIS committee
had accepted the notifications in the plan
which embraces an exchange of the bonds
FOR 20 per cent IN the new As, and 100 per
cent in preferred stocks instituted a good
Inquiry for the mortgages. which rose per
cent. Southern firsts were conspicuously
weak in the soft coal agreement and lost
4 per cent. The sales were s.. &C.. 900. Other
noteworthy changes We're: Advances
Utah Southern extension SIS trust receipts,
> per cent; Omaha and ST. Louis IS trust
receipts IL per cent. Declines-Standard
Rope 6's, per cent; Fort Worth and Rio
Grande frsts and Toledo, St. Louis and
Kansas City firsts trust receipts, per cent;
ST. Louis Southwestern firsts and ST. Paul
Central division SIS, l per cent.
Governments were active, but values were
Irregular, with a lower tendency. The glut
of money at this center showed a wider
market for these securities. which are be-
ing largely taken by banking institutions |
The sales were $4,000.
FOREIGN STOCK MARKETS.
New York, Feb. 10-The Evening Posts
London financial cablegram says:
There was better tendency in the stock
markets today, bu: as the settlement IS in
progress there is very little doing. Con-
soils were improved and international gov
erument bonds recovered. Americans op-
ened firm, subsequently, relapsed. but clos
ed steady. with higher prices in most cases.
The continuation rate for Americans aver
q ged about IS per cent. The Paris market
huctuated. steady opening giving place to
an unsettled feeling al the close. The Ber-
lin market was dull
LOANS AND EXCHANGE.
New York. Feb. Io--Money on call easy
al liad3 per cent: last loan "a per cent:
closed offered at li7a2 per cent; prime mer-
camille paper 364 per cent: sterling ex-
change firm with actual business in bank
srs bill al SSi2G4 50. for demand and at
>1.cfNs lot Sixty OSHSs pcSltl rates St-sSiz |
and SisslaSl4. IS; commercial bills 81 ST
yer certificates 64S. G65l.: bar silver So
Government bonds irregular; state bonds
iull; railroad bonds firm
BANK CLEARINGS.
New York. Feb. 1e.-Clearinss .7Ss.sls;
balances s6,7en.ls5
Boston, Mass. Feb. IH-Ciearings s-.S
Philadelphia. Pa. Feb. 10.-Clsarinss ST.
81; balances SS.l5S.coS
<sITi: balances s. .S73-
Baltimore. Nd. Feb. lo.-Clsarings 81