The Wichita daily eagle., 1897-12-08


London Sugar scurries Upwards a.
Once Under the Stimulus of Competing
Orders - Railroad Statements In.
fiuentisi Becoming AgEressivly strou e
London q Seller of ST. Paul.
New York, Dec. 7.-Today's stock mar.
ket displayed noteworthy strength through.
OUT the Gay and the demand for stocks was
broader and more widely diffused through
the list than has been the case in q long
lime. There was hesitancy at the OPEN
ing. probably induced by the lower prices
from London, and some of the stocks which
neVeioped most aggressive strength later
showed small losses at the opening. This
was notably true in the cases of Louisville
and Atchison preferred The early strength
In the market was. In fact, most notable
ia the specialties. There was a scramble
OF competing orders in Sugar, which car
ried that volatile security up q per cent
In the first fifteen minutes of trading II
cropped points almost as quickly on Of
ferings to realize. The largest gains in the
nrSt hour were all in the specialues South
ern preferred was the first of the railroad
STOCKS TO attract marked attention and the
price was advanced a point. New Jersey
central also showed tendency to recover
from its recent weakness, though its tone
was rather feveTish. This and the irregular
ity OF Sugar checked the advance and the
activity Of the market at times and there
were several periods of dullness on slight
reactions during the day II was not tin
The afternoon that the strength of the rail-
road list became aggressive and general.
the southern and southwestern roads bein 2
most conspicuous and holding their gains
most firmly. Burlington advanced at one
time point but reacted a point before the
close and the grangers and western stocks
cid not compare favorably in strength with
those In the southern region, which today
began to feel the influence of the remark
able showing Of gains In gross earnings
for the fourth week in November which
have been reported Curing the week hv
the roads in that region Even Northern
Pacific does not respond as readily as
though Its preferred stock gains q po1nt nef
on fourth week statement that shows an
increase In earnings over the correspond;ng
week last year or s3S4,77O, which is onrv
SHADE less than 100 per cent The COM
perlson, however, Is with week of not
very large earnings last year. The state
ment for November of New York Central
was regarded as disappointing. the increase
beng only $4,000. as compared with
month of not very heavy earnings last
year Great Northern showed an increa Sc
OF SSSG,l3s, and Illinois Central 1864, ,ss1. The
market was helped also by the dividend
oeciara tions announced today ard those in
prospect The street was full of runors
fhe f,-s4a
authoritative announcement accompanied
any Of them. The action of the market
reflected very distinctly the large and av-
gressive operations OF manipulative COM
biDations and there was very little outside
interest manifested in the stock ,3.vis+on
OF the market. London besides marking
down prices before the opening here. sold
stocks very persistently in this market,
notably ST. Paul
The total sales OF stock. today were IA
900 shares.
The bond market continued to reflect
very wide and varied inquiry and con-
unually broadening demand Some sharp
gains were recorded during the day ana
prices IN all cases were higher. Total sales
s4,10o,oo0.
United States old tours, registered. ad
vanced 1s per cent and the coupon u ner
cent bid. New fours. registered, 11z5k; cou-
pom, ia; twos, IS; Pacific SKIES of 'sS, 1O25s.
CHICAGO STOCKS
Chicago, Dec. 7.-Stocks dull and aver
hged lower; good demand for Biscuit AMI
Lake Street L, late in the session. Clos
ing: West Chicago, 1925; Diamond Match.
l4S; Chicago, 225 bid; Lake Street L. 16M
New York Biscuit, 81; Straw Board, % bid
and 80 asked; South Side L, 64%; City Rail-
way. 240.
FOREIGN STOCKS.
New York, Dec. THE Evening Posts
London financial cablegram says:
Except for home rails and Argentfnes
which were firm, the stock markets here
were Hfeless today. A further large sum
was borrowed from the Bank of England |
today. Much interest is felt as to the prob |
able announcement tomorrow by the In |
dian Council as to the resumption of the /
weekly drawings. 1t is generally believed /
that they viii be resumed, but very grad |
ually
americans opened dun on newspaper |
criticisms OF President McKinley's mes
sage, one and all rejecting no great ad-
stiil, operations in Americans ,
here are now SO small as scarcely to be |
n AoNtoi- new pOuglt tniS AFTER |
noon, the market closed firm. Southern |
railway preferred was strong on dividend |
runors.
Mexican rails. which had risen sharply !
on reports that freight rates were TO be
raised by the government because of the
fall in silver, relapsed on the belief that
the government would not allow the value
Of silver to influence the matter further.
The Berlin beurse was irregular. The
Bank of France is charging premium of /
per mile to prevent gold exports
LOANS AND EXCHANGE.
New York, Dec. Money on call NOM
lnal; l2G2 per cent; prime mercantile pa
per. S@4 per cent; sterling exchange heavy,
With actual business IN bankers bills at
si si.s5G74.S5ss for demand and at s4s2lS64 s2S.
fo- sixty days: posted rates. 81 S31xG4 81 and
a-S6lzGi.S Commercial bills. a.S2: silver
certificates eos; bar silver, cos; Mexican
dollars, as
TREASURY STATEMENT.
Washington. Dec. T-Today's statement
of the condition OF the treasury shows:
cash balance, SOS, 10, ,579; gold re-
serve. Sl5SOSs.7N.
SILVER FOR EUROPE.
New York. Dec. THE steamship 81.
Paul. sailing for Europe tomorrow, VIII
lake out 10000 ounces of silver and 7Oooo
Mexican dollars.
GRAIN AND PRODUCE MARKETS.
CHICAGO.
The following official range of prices on