The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-05
STOCKS AND BONDS
STOCK MAREET LEFT ENTIRELY &c
TIE ROOM TRADERS.

Result: Of ThsIs Operations Is 10 Bring the
Closing Level slightly Above Fridays
Clces, Price Movement, However, Be-
ing Of Little account During: the Day
Low Aggregate of Sales Weeks SEQ.
! saving of Values Reviewed, Day by
Day-Demand For High-Grade Bonds
Feature of The Week
New York, Dec 4.-Today's stock mar
ket was left almost entirely to the room
traders, and they seemed disposed to
depreos prices during the early part Of
the session by short sales. Their effort
met with little response and they cover
ed before the close, bringing prices in
most cases slightly above yesterdays
close. The movement Of prices was.
| however, trivial throughout the day, ex-
cept in a few special cases. Manhat-
tan reflected the anxiety OF those who
had bought yesterday under the mistak-
en- impression that the underground
rapid transit plan mad been declared I'M
constitutional. Heavy offerings at the
opening sold the stoc kdoTn a point,
the lowest Of the day. The close was
near the low point after a full recovery
IL the meantime. All sorts of rumors
we're afloat regarding the stock and the
dealings in il were at times quite fever
ism. Sugar was traded in for the most
part at level below yesterdays close,
the supply of stocks being apparently
large on any advance. Chicago Great
Western showed a degree Of strength
Or account OF its large percentage OF in
crease Of earnings for the fourth week
in November. Susquehanna and West
ern continued 10 rise in price and Dela-
ware and Hudson of the coal group SYM
pethiZed, but New Jersey Central and
the Reading stocks, on the other hand,
were heavy. The days news, SO far as
1t was regarded, was favorable, state
nents Of the fourth week earnings that
Were published showing large earnings
ard handsome increases.
The total sales of stocks today were
$4,000 S:2srets.
THE WEEK REVIEWED.
to cover the increased requirements of the
legal reserve caused by the heavy increase
in deposits, and the consequence is still
further declines in the surplus reserve.
There has been nothing in the require
ments of the money market during the
week to account for the expansion Of 3d.
E6 500 in the loans, and it is probably due
to borrowing on exchange. This IS a part
or the somewhat complicated operation,
the simple result of which is to leave at
~, s1sn hrOf ioA xf-hfn h hos
mulated there on credit, instead of drawing
on IL by exchange bills. 1t is estimated
that over $4,000 600 of foreign exchange mas
been allowed to accumulate in this city
during the week, and the fact that prices
Of exchange have not been materially low
cred shows that 1t is withheld and the
moEey loaned abroad. There IS, "a cont!n-
uance also Of investment buying OF long
exchange in anticipation Of the usual re-
turn movement Of trade after the first OF
theyear. Although the imports of general
merchandise at this port for the week
show falling off. the receipts at the Gus
tom house Indicate growth OF the import
movement during November. which buyers
of long exchange expect will increase still
further as the stocks are worked off which
were imported ir anticipation of the tariff
law. Unless the import movement OF gen.
eral merchandise shall become very heavy
in the next few months, long exchange
must prove a poor investment in view of
last few months London advices during
the week have reported a very heavy
American demand in that market for
high-grade American railroad bonds. The
same demand was largely furnished for
foreign account as well as in London. This
would indicate a further heavy transfer TO
this side of the water OF the highest
priced railroad securities in sufficient vol
ume to have quite an appreciate effect up
on the exchange balance.
hip0
a feature of the stock exchange here all
week, and the total dealing in bonds on |
were of a par value of early a. |
10000. The activity of the stock market
has been spasEodic.
BONDS.
The bond market has shown less hesitan-
cy than stocks and prices have steadily
advanced, though periods of lessened ac-
tivity have accompanied the declines III
prices of stocks he supply of high-grade
bonds has been unequal TO the demand and
the demand has overhowed TO the lower
priced bonds, which show notable gains in
prices. otal sales, s15,5900o0.
United States bonds were strong. The !
new fours are q per cent higher bid: the /
twos y per cent higher bid, and the old l
fours registered and the fives registered I
are 4 per cent higher bid, the former ex-
interest.
FOREIGN STOCK MARKETS.
New York, Dec. 4.-The Evening Posts
LcluOu SAY
The stock markets here were again /
stagrant today. Americans were steady, /
but liteless, pending President McKinley's /
message. The tone was hopeful.
THE BANK STATEMENT
New York. Dec 4-Ths weekly bank |
statement shows the following changes:
Surplus reserve, decrease s.. 1855; loans. /
Increase. S3.4755o0; specie, increase Ss3s, 900;
legal tenders increase $S27, 900; deposits in /
crease Se,417.i00; circulation, decrease sa;.-
loo. The banks now hold So, 122. $50 in ex-
THERE is A CLASS OF PEOPLE