The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-11-20
STOCKS AND BONDS
SHARE MARKET CONTINUES TO BE
NARROW AND QUILL


Very Narrow Limits by Realizing in the
Last Hour-Market Now Begins 10 Look
Forward to the PresIdenrs Message,
Especially as to Cuba and the Currency
Money Duu and Easy-London Idle.
day continued its dull and narrow char
acter, though at some slight improve
| ment over yesterday, both in the vol
ume Of the trading and in the move
| ment Of prices. The extreme rise was
greater than yesterday, but realizing
sales in the last hour reduced the net
gain to very narrow fractions in most
cases. The movement in the specielties
| was much freer than in the standard
| railroad stocks and Sugar and Manhat-
tan ran one time . points higher than
yesterdays close and sharp gains were
also shown by the Peoples Gas New
Jersey Central, Reading first preferred
and Lead preferred. All Of these gains
were very materially lessened for the
close. West Chicago Street railway was
quite strong and active and rose nearly
points, but Consolidated Gas occupied
the middle of the stage and was the
center OF attention all day. This stock
opened 8 IL points higher on the belief
that a large individual in the interest
in one OF the local gas companies which
has been holding out for the best terms.
had been bought into the agreement for
amalgamation. The stock mounted UP
ward by wild bounds, sometimes over
point between sales, to 1873 IL points.
But the very great skepticisn in the
speculative mind regarding published
uterances on the progress OF the plan
Of consolida ton then became manifest
In the equally feverish course OF the
stock towards a lower level 1t got
down as far as 1SS points, and after vi
brating in a very erratic manner closed
- point higher at net gain OF points.
The latter weakness in the market was
due in part to reports from the west
OF maintenance of railroad rates. There
was talk also that large increases in
operating expenses would reduce the net
earnings of railroads for October below
what has been counted upon. Buying
for London account helped TO sustain the
market in the earlier dealings. A fea-
ture Of the day was a sharp rise Of lac
in the rates OF sterling exchange, both
for demand bills and cable transfers.
This was in part the reflection of stiff
fening in thed iscount rate in London
where the Bank of England Is again
borrowing money in the open market
with the purpose Of controlling the pri-
vate discount rate and relieving the
pressure for gold on that centre.
Money in this market continued very
dull and easy in all departments. Not
only has the dullness of speculation re-
duced the demand for money, but there
has been quite a heavy flow Of funds
during the week from interior points.
Tomorrow's bank statement is expected
to show a material increase of available
money.
The total sales Of stocks today were
199, AS Shares
BONDS.
The market was moderately active
and prices advanced. The total sales
were 81. S45,00o.
United States tours registered and
fives advanced Is per cent bid. New
fours registered and coupon 127 "a:
tours registered liz rs; do coupon 113
ga; seconds SO L.; f1ves registered ia
Is; d coupons ia Is; Pacific SKIES OF
SO, 102 5-S.
FOREIGN STOCK MARKETS.
New York, Nov. 91.-The Evening
Posts London financial cablegram says:
tine stocks markets were idle and ir
regular today. Consols and other in
vestments were lower on the prospect
Of money being temporarily dearer, for
reasons already ca'bled you. The price
Of gold has fallen to us IL sid.
Americans were firm and on the
whole a better tendency. being assisted
by Senator Hanna's bullish remarks on
trade.
The Paris bourse was rather dull, and
the London market was quiet" .
LOANS AND EXCHANGE.
New York, Nov. 19.-Money on call
nominally l 1-262 per cent. Prime gner-
camille paper 1924 1-2 per cent. Ster-
ling exchange steady with actual bust
ness in bankers bills at s4.S5 1-4d4.s5 1-2
for demand and s4.S2 ga for sixty days.
Posted rates s4.S3 1-2 and s4.S6 L.. Com
mercial bins = 2. Silver certificates IS
m59 - Bar silver IS. Mexican dol
lars 45 IL
TREASURY STATEMENT.
washington, Nov. 19.-Today's state
ment OF the condition OF the treasury
shows: Available cash balance $780,
165, 2Ss; gold reserve s156. S21 $50.
BRADSTREETS REVIEW.
New York, Nov. 19-Bradstreet's re-
view OF the stock market will say:
Dizziness has prevailed in the stock
market this week. but there has been
a decidedly better feeling and prices
have improved all around. The most
conspicuous feature was the strong I'M
operators were unable 20 make any i'm
preston on prices and at declines stocks
seemed TO find support. although there
was little evidence OF active manipuls-
ton by large operators or bull cliques.
London sold our stocks during the ear
" part OF the week, but later on bought
10 a small extent. Commission houses
were not active and the market was de-
pendent in the main upon professional
operators. The latter class have, how
ever, shown a disposition to work for
the time being on the bull side. and
the prevalent view in Wall street is
that the market IS likely 10 remain dull,
but without any very marked declines,
until the meeting Of congress, when its
course will be decided BY the character
o. the presidents message and the ztti-
tude OF the national legislature toward
the currency and Cuba II should be
mentioned that the change for the better
in the Cuban situation. 50 far as the