The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-29
STOCKS AND BONDS
STOCK MARKET DOESN'T SEEN TO
SPELL ANYTHING MUCH.

Excius.veiy Professional, Inactive and the
Price Movement sluggish, Trading ut
Times Approaching ssandstiii-ku-
mors Serve the Trade as Sews-Ciose IL
at Near the Starting Point-Grangers
Firm on Roseate Burlington Rumors-
Influence OF the Spanish Quest ion
Uniou < ,c.fic aud the Money \ r -kst
New York, Oct S-Today's stock mar
ket was exclusively is the hands of the
professionals and contained nothing Of sig
n:ficance in its bearing on the general
conditios of the country. The market was
inactive and the movement OF prices was
sluggish. Trading was almost stagnant
al times. The traders did the best they
could to influence prices by manipulative
buying and selling and by dissemination
as news. OF rumors of their respective
hopes and fears. The only response OF any
moment was shown in special cases. with
a slight sensational effect on the general
list. but the professionals were unable
TO induce any following and in meeting
their earlier contracts carried prices back
to near the starting point. One OF the
special stocks affected was Pacific Mail,
which declined at one time az per cent
on account of the decline in earnings shown
by its September statement The stock
recovered to within a fraction OF last
nights close. Sugar, after a substantial
gain, fell 2l5 per cent, but also recovered
to a net decline of a fraction. The coalers
as a group were weak on the unsat;crac-
tory condition of the trade. Notwtthstand-
ing recoveries near the close, their net
losses were a point or over. The gram
carrying roads, on the other hand, as
played firmness. which was principally due
10 roseate forecasts of the September earn
ings of Burlington, the statement OF
which is yet TO be published. BY reason
of this influence, railroads generally are
a fraction higher. except some southern
roads and the coalers, while the industrials
and specialties are generally lower There
was still some disposition TO advance fears
of the Cuban question as motive Tor the
selling Union Pacific was less active and
was uncertain in its movements on &C
count of doubts on just what changes IN
the plans of the reorganization committee
are involved in the advanced bid to the
government. The doubt applies not only
to the plan OF financing the new company,
but to the ultimate disposition OF the Kan
sas division, which the COMMITTEES pro-
fesses itself willing TO relinquish to the
government, so far as the subsidized por-
ton is concerned. The stock closed g per
cent higher.
The arrangements for the payment to the
government and for the governments pay
ment of bonds coming due on January I,
ri m with for
their effect on the money market. II Is
believed that the one will be timed 10 off,
set the other as far as possible, so as not
TO take a large amount OF money out OF
the market The sum 10 be paid TO the
government will considerably exceed that
10 be paid out on this account, but the con-
t;nued excess of disbursements over re-
CENTS in the daily operations OF the treas
ury will help 10 make this up. II Is se-
lieved that any marked effect on the cost
Of money will thus be avoided.
The total sales of stocks today were 357,-
600 shares.
BONDS.
Central OF Georgia second incomes de-
clined l per c7sent and the third incomes
a point. Kansas and Texas issues were
weak. Dealings were not on a large scale.
Total sales were 81, $4,000.
United States fives were advanced i per
cent bid New tours, registered, III; cou-
pom. 128; tours. 1929; coupon, llSa4: twos, g
fves registered. 114as; coupon, 115fs; Pa
cific skies of '9S, 1925.
FOREIGN STOCK MARKETS.
New York. Oct. 2s.-The Evening Posts
London financial cablegram says:
To-day the market was quiet, with ir-
regular movements. Consols and kindred
stocks were better. Americans and Cana
dian Pacifics opened fat, but recovered be-
fore the New York prices arrived. partly
on genuine purchases here. There was 4
further recovery later. but the close was
at a fraction under the best.
The Paris and Berlin markets were
firm.
Taxes have been coming in largely du-
ring the week, therefore the decrease Of
loo pounds in public deposits and the
decrease OF 1.335, 900 pounds IN government
securities, shown in the weekly statement
OF the Bank of England, mainly signifies
that the government has repaid the bank
the amount borrowed on the deficiency
bills previous TO the disbursement OF divi-
dends on the fifth OF this month. The re-
serve is up $1,000 pounds.
"Details OF gold for this week are 100
O01 pounds from the Cape. 5000 pounds in
eagles, and $4,000 pounds in sovereigns for
the continent. Today the market has
borrowed a further small amount from the
bank. but the bank also has repaid a GER
tain amount 10 the market of the total bor-
rowed early in the month"
London. Oct 2S.---Consols for money,
llllk per cent: for the account, III 9-1S per
cent.
LOANS AND EXCHANGE.
New York. Oct. 2S.-Money on call easy
al IL per cent: last loan, per cent; closed
1iLd2 per cent; prime mercantile paper.
3s.dpz per cent: Sterling exchange.
steady. with actual business In bankers
bills at AShG4. So. for demand. and a;
Sis2.6Is2zs for sixty days: commercial
bills. SiSGiSli- Bar silver, 5s2sc; Mexi-
can dollars. 45c.
TREASURY STATEMENT.
Washington, Oct 2s.-Today's statement
OF the condition OF the treasury shows:
Available cash balance. S2ll,705,ss7; gold
reserve. s152 s75.l Zoe.
BROKERAGE FIRM FAILS.
New York. Oct S.-Read. Parsons &
Co, stock brokers. announced their sus-
pension today. II IS said that they have
no outstanding contracts Oh the exchange.
The firm was composed until few weeks
ego % w G. Read, Jr., and George 3.
Parsons. Mr.. Read committed suicide In
his office while suffering. Il as said, from
a ~ Of melanchol.s.
GRAIN AND PRODUCE Markets
e. -f--e~ ~ -