The Wichita daily eagle., 1897-12-07
STOCKS AND BONDS
PREEIDEHT'S MESSAGE AFFECTS
TIE MARKET BUT LITTLE

Nothing In n to Cause Surprise. Every
| Point Having Been Foresoid-n.rksr
| Holds Fairly Steady. In spite OF Expec-
| tatIons of . Decline on Besltsing Sales.
| Uutn Bear Raid Occurs In the Late
Session - Some Railway Statements
| e;ood Enough to Lifs the Prices of
4 Thoir stocks Bonds Active and Higher
| New York. Dec. 6-Although speculators
| in stocks have sought 10 influence prices
| for several weeks by surn-ses on the con-
tents Of the presidents message, the actual
publication OF that document today had
little effect on the market. There was moth
ing IN IL that came as a surprise. almost
every koint having been accurately fore
told IN detail. Prices Of stocks had been
advanced to some extent in anticipation
of the message, and there was some ex-
pectat,on that It's publication would be
met By decline caused by realizing sales.
Blu. the market held fairly steady after
its publication until a raid by the bears
in the final hour which was encouraged
by tie weakness OF New Jersey Central
and the coalers. Union Pacific was direct
ly affected by the paragraph devoted 10
il in the message and declined nearly
point Most OF the days movement Of pr
ces was however due to special causes
and was marked in the specislt.es. Sugar
was the leader In point Of activity ard
strength and advanced at one time 81
points. Its strength was caused by the
approaching dividend period and belief In
the advantages arising from the newly sp-
piled countervaiEng duties Manhattan
was al one tine 2ia points above Saturdays
close on the belief that the proposed un-
derground rapid transit plan vii be vetoed
by the courts. Rock Island continued 10
enjoy an advantage from its newly per-
fected refunding plan and gave strength
TO the other grangers by sympathy. Some
OF today's railway statements OF earnings
for the fourth week in November were SO
favorable as to Eft the prices OF their
stocks. This was notably true OF Missouri
Pacific. which showed an increase IN earn
ings of $4,000 and IN Louisville. whose
gan was nearly $1,000. Each OF these
stocks rose point. Cleveland. Lorraine.
and Wheeling preferred moved up "a
points from the highest In this stock. which
encouraged the late rad by the bears and
lowered the level OF prices throushor the
market. The money market continued not
ably easy and It was reported that large
sums are offering on time loans for CHI
cago and other western banks IN this mar
ket. Notwithstanding the ease OF money
and a sharp st.hening in the discount rate
both IN London and Berlin, sterling ex-
change was weak.
The total sales Of stocks today were 49,
800 shares
The bond market was active, with the
exception OF an interval OF duilness at MD
day. and prices advanced withou, inter
ruption. Total sales, s., S,7saclo.
United States bonds were unchanged IN
bid prices. New fours. registered and
coupon, 12s%: fours. r21.; coupon. IA:
seconds, SO; fves. registered. and coupon.
114il; Pacific sixes OF 'ss, 10ess.
FOREIGN STOCK MARKETS
New York, Dec e-The Evening Posts
London financial cablegram says:
The stock markets here today were
quiet but firm. notably home rails. on the
advance of railway strike. The frmness
OF the markets was generally due 10 antic-
ipations Of phenomenally cheap money In
the next year. Perhaps operators are un-
duly confident OF this. Copper shares were
very strong. Americans were good chiefly
on New York support. The disposition here
was 10 await the presidents message |
1neEe was 10 olspOSlSlOh 10 sen, however, /
as best quarters look for rise in Amer |
leans unless something quite Unforeseen |
should occur. New York still ebsorbs bonds |
rapidly.
'AH the continental exchanges were |
quiet"
LOANS AND EXCHANGE.
New York. Dec. 6.-Money on call easy |
at 1izdc per cent: last loan. per cent: |
closed 1Ad2 per cent; prime mercantile /
paper, 3fti per cent Sterling exchange, /
weak, with actual business In bankers |
bills at A.s5tzd4S1s for demand and at
81 s2s. for sixty days; posted rates. "a 81
commercial bills, Gs2. Silver
certificates. $4,000; bar silver. 50: Mexican
dollars, i74.
TREASURY STATEMENT
Washington. Dec. s-Toiay's statement
OF the condition OF the treasury shows:
Available cash balance. s22o. .so1 .ssl; gold re-
serve, sI57, ,sSs.s2s.