The Wichita daily eagle., 1897-12-10
STOCKS AND BONDS
BULLS MEET DIFFICULTIES IN
THEIR OPERATIONS.

Manipulation in Industrial Speciaities Open
and Notorious But Some Substantial
Gains Shown in Railroad Stocks on
the Basis of Increased Earniogs-U Union
Pacific Falls ON News From the Senate
at Washington - Local Transit Com
panies Deliberately Taken in Hand for
New York, Dec. 9.-The bull contingent
met with some formidable obstacles in
taefr efforts to advance prices of stocks
To-Day and the greater part of their success
was achieved at the industrial specialties.
The manipulation in the case of these
stocks was very open and palpable but
some substantial gains were shown by
railroad stocks. on the firm bass Of IN
creased earnings. There were a number Of
stocks also which were persistently heavy
In tone and required support to prevent
the spread Of weakness through the whole
market This was notably true of Sugar,
which ruled for some time below yester-
days closing price and fell at one time to
the extent OF q point. London was very
large seller Of stock. on balance in this
market and the volume of sales on that
account is estimated at as high as 400O
shares, embracing all of the international
stocks. Union Pacific fell 4 per cent on
the resolution OF the senate TO postpone
the Kansas Pacific sale. Manhattan,
Northwest and Northern Pacific and some
other less prominent stocks showed
heavy tone during the early part Of the
day. Those causes, together with the in
ertness Of the granger group, were a per-
Bisent drag on the market. The latter part
of the day saw q very animated contest
between professional traders for the con-
trcl of the market The stocks of local
transit companies were pushed up uni
formly TO q higher level on the strength Of
tips that the underground rapid transit
scheme would fall of endorsement by the
courts, and by reports OF the apprehen1-
ri analgamation Of local transit interests
Manhattan was the leader Of this class and
rose 2A per cent, but all the stocks in that
group Of securities showed sharp gains
The bulls accorded the same method OF
treatment to the Vanderbilt group of
stocks q little later and raised nearly all
of them from TO points. Finally North
ern Pacific preferred was taken In hand
and lifted out Of its early depression by
dividend declaration on the preferred stock.
These last named changes were facilitated
by the return from abroad of an influen-
tial financial factor interested in those
properties. The net result IS to show a very
irregular range OF changes. In the ma
5or.ty of standard railway shares which
were left free from manipulation the
changes are small, though gains approach
ing point are shown in some southern
railroads which are showing good earning
capacity. Quite a number of small losses
are shown. In the specialt!es, on the other
hand, including Manhattan, Tobacco,
Leather and Rubber preferred Brooklyn
Transit, Metropolitan Traction and a
number Of Vanderbilts. gains extend from
q point to 2S points, the latter in Man
haitian.
The total sales Of stocks were ss1, 900
shares.
BONDS.
The bond market continued active and
broad. some notable gains being shown in |
special cases and the level of prices |
throughout the list showing a material ad- |
vance. St. Louis and San Francisco trust |
fives are per cent higher Mobile and
Ohio foure rose 2s per cent, in accord |
ance with the rise OF az per cent in the
bonds were all strong, the collateral fives
rising per cent further, the consol fives
per cent, ana the trust fves IL per cen.
The total sales reached a par value OF $3,- |
800, 900.
Government bonds were strong, both the
old and new fours advancing 4 per cent
bid, and the fives Il per cent bid. New fours
registered and coupon, 12sS; fours, 112:
coupon, ia; twos, 90; fve., registered and
coupon, 114l5; Pacific sixes Of '9s. 1o2Ss.
FOREIGN STOCKS.
New York. Dec. e.-The Evening Posts |
London financial cablegram says:
The stock markets here were irregular |
today. Americans were good Mines were |
fat, notably the stock OF the Chartered |
company. There was more activity here |
In Americans and they were of good tone, |
but the close was under the best
81 understand that Speyer & Co.'S issue |
of Mexican National railroad bonds has |
been covered here and IN Amsterdam sew
eral times over. There is a startling ru-
NOR here tonight that the manager and |
confidential adviser OF the leading financial |
house here is leaving them. The recen,
fatness IN mines is believed 10 be due TO |
the closing OF his account, while from the /
same quarter Americana ere said to have |
teen Sold"
LIVE STOCK MARKETS