The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-19

at Losses-Bonds Strong-Governments
Firm-Foreign Stock Markets.
| New York, Jan. 1s.-The stock market
today was quite animated, and the volume
of business considerably larger than on
any day in number of weeks past The
movement OF prices was irregular. owing
| to heavy realization of profits, which was
| again partly offset by fresh buying for
| long account. The initial and early trad
| ing was characterized by resumption Of
the activity and buoyancy that had marked
the close OF the previous week. This con-
dition was assisted by purchasing orders
| for foreign account The dealings were
well distributed and improvement was gen.
| orally noted, with the specialties N excep-
| tional favor, Manhattan rising IL per cent.
| In the regular railway list important frac-
| t:onal gains were scored, the grangers and
| Southwesterners leading. Foreign pur-
chases were extensive and included large
| blocks of speculative bonds. The upward
| movement was soon stemmed on sales fo-
| both accounts. Effective support was evl-
| dent, however, in some instances, and buy
| ing of the higher-priced stocks on a fairly
| large scale, generally at substantial adj
yances, was a feature of the dealings. Deal
ers in miscellaneous securities also report
ed the inquiries for high-pr.ced material
largely in excess of the supply. Following
UP the selling to take profits, the larger
professional bears utilized the news of sew
eral bank failings IN the southwest, TO
emphasize the reaction, and with fair sue
cess, particularly in the specialties. Man
haitian was offered freely and fell 81 per
cent, to 9024 per cent. Sugar was depress-
ed per cent, Burlington 1s4 per cent, and
other stocks 1011a per cent from the top
figures. In the late trading the selling pres
sure increased and the traders seemed TO
meet little or no opposition in their raiding
tactics. The closing was weak at sharp
fractional net losses in most of the active
stocks.
The total sales of stocks today were 304,-
6s7 shares. including: Tobacco, 100; Atch-
ison, 1000; American Sugar. As 800; Burling-
ton. 1900; Chicago Gas, 12,6O0; Chesapeake
and Ohio, 1900: General Electric, $500;
Louisville and Nashville, II, 400; Manhattan
Consolidated. 800; Missouri Pacific, 1850;
Reading, 20.5o0; Rock Island. 1880; St Paul
400; Southern Railroad preferred, 10,1oo;
Tennessee Coal and Iron, $500; Wheeling
and Lake Erie. $500.
The bond market maintained decided
strength throughout and was not influence
ed by the weakness of the stock market.
The dealings were unusually large, aggre-
eating 81 969 000 and included greater va
riety of issues than has been dealt in for a
long time. Some OF the active bonds were
conspicuous for wide changes, particularly
Spokane and Palouose firsts trust receipts,
,.at,
cent, the last preceding sale, on Sept. 2S,
1896. The principal included: Missouri Pa
-cific firsts collateral SIS and Union Pacific
as trusts receipts per cent: Wabash de-
benture SIS. 21s per cent; Kansas Pacific
cOnsolS, and Houston and Texas Central
SIS. per cent: Missouri, Kansas and Texas
irfsts, ~ per CENTS Oregon Improvement
firsts, IL per cent, and Edison Electric |
consol SIS, per cent.
Governments were quiet but rather firm
on purchases of $4,000
FOREIGN STOCK MARKETS.
New York. Jan. 1s.-The Evening Posts |
London financial cablegram says:
1.-THE stock markets were quiet but good |
today. the favorable factor being cheap |
money. Consols were up a per cent. The |
Americans were good, although the buying |
seems to be principally from New York. |
The situation here is peculiar. Money is |
cheap, yet the causes which make it cheap |
are the very points helping to check mar
ket activity. Thus. discount is low be- |
cause bills are scarce, which, again, is J
partly because New York holds back an |
quantity, which in itself is dis !.
turhing factor rather than otherwise. The |
Bank of England has yet 10 be repaid e.
ooo, 900 before the position of the money mar
ket can be properly gagged. 1t is rumor-
ed freely today that the bank rate will go
down on Thursday. / do not think Il
likely, but uncertainty as to the monetary
outlook is Enthusiastically evident. Japan
bought 100000 in gold today. The Paris
bourse was dull on reports of the cars
illness. The Berlin market was steady"
LOANS AND EXCHANGE.
New York, Jan. 1S-Noon-Aloney on call
easy at Il. per cent; prime mercantile pa
per 3iaai per cent; sterling exchange, very
steady. with actual business in bankers
bills at si.s71sG4S7s. for demand, and at
s4S5d4.s5l4 for so days; silver certificates,
S47sae5l4 no sales; bar silver 64S.: Mexican
dollars 50s..
BANK CLEARINGs.
Philadelphia. Pa. Jan. 1s.-Clearings, S.
l90, go; balances, Sl,6s6, go.
Baltimore. Nd. Jan. 1s.-Clearings $780,
Sc; balances S3iS, g15.
ST. Louis, Mo. Jan. 1s.-Clearings. $685.
no; balances, 1854. 416; money 7GS per cent;
New York exchange. par bid: 25c premium
asked.
BANK STATEMENT
Washington, D. c. Jan. is.-Today's state
nent of the condition OF the treasury
shows: Available cash balance, sos, T6s, Si7:
gold reserve. Sal 1850.