The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-02

Conspire for Commission Hou.e Buying
observation-disclosures Change Front and
Treaty Changes Cut Some Figure-North-
ern Pacific Bonds Strong.
New York, Feb. 1.-The upward move
ment in the stock market, which marked
the dealings in the final days OF last week
met a check today. Some Of the factors
| IN this upward movement were the de-
cided ease in the monetary situation at
home and abroad, giving expectation OF an
! early substantial revival IN legitimate trade
! through the employment of such capital
| as fails to seek an outlet in investment IN
| prime securities. The constant absopr-
ton of gilt-edged securities at the high
! prices prevailing, and the limited amounts
| offered, encouraged purchases of the mid
| dle-class mortgag es, with liens on proper
| ties undergoing reorganization. The OPP
| portunities for profitable speculation in
/ these issues and the efforts of various I'M
derwriting syndicates engeged n financing
| the properties to secure as high market
as possible for their holdings, has induced
| the employment of funds in this direction
which would otherwise be available on call
at remunerative rates. This contributed to
| increase commission house orders to an
extent which induced marked gains in some
of the inactive speciaities, and was shown
also in an aggregate Of sales of bonds
amounting to 100000. The trading ele-
ment, however were disposed to operate
for decline and received effective aid to-
Gay from the execution Of numrous sell
ing orders for foreign accounts. The
change of front on the part of foreigners
and the unfavorable construction placed
upon the changes in the arbitration treaty
by the senate led 10 the surtailment of pur-
chasing orders by the leading interests in
the market and although the market stea-
died at intervals under covering and a mod
crate inquiry for the long account, the
final prices show losses of fraction gen.
orally. Manhattan fell rs per cent on the
reiteration of the recent rumor of pro-
babe issue of bonds. Northern Pacific
stocks and bonds continued as the fea-
lures of the general speculation and were
alternately buoyed and depressed on the.
various rumors in circulation in regard 10
tie property. The announcement ~ Presi-
dent J. J. Hill that there were no negotia-
tons in progress with the Northern Pa
cific for a traffic alliance caused realization
in the shares under which the common yield
ed is per cent, and the preferred l per
cent. The shares, however, were well taken
at the lower figures and rallied sharply on
limitations that large foreign interest
in the property was negotiating for large
block of the stock. The dealings IN the
general list were fairly well distributed,
low-priced stocks attaining prominence.
The quarterly dividend of IL per cent on
Chicago Gas was without effect on the
stock market. Coal stocks were practical
~ neglected, moving narrowly with the gen
eral mirket. Lackawanna was the excep-
ton, losing IL per cent. The pressure
against the market was quite marked in
the late operations. with some stocks reg
isterins the lowest prices of the day.
The total sales of stocks today were 1885,
112 shares, including: Burlington and Quin-
cy 15,o00; Ccicago Gas trust receipts 4,s00;
General Electric $500; Louisville and Nash
vile $500; Northern Pacific 1,SO0: Northern
acific preferred 4S.5C0; Reading 500; Rock
Island 5, 400; st. Paul L. 700; Southern Rail-
road preferred $500; silver certificates 1000
The railroad and miscellaneous bond mar
kets ruled strong and developed unusual
activity on heavy purchasing orders for in
vestment account. The dealings ambrac-
ed large number of securities, with tn.
Northern Pacific. Atch;son St Louis and
San Francisco issues leading in point OF
animation. The sales We're $4,000 The
more important advances included st Louis
and San Francesca general As, "a per cent;
Toledo, St. Louis and Kansas City trust
receipts, per cent: Utah Southern extern
sion SIS trust receipts, 2 per cent: Oregon
Short Line SIS and Oregon Short Lines 6's
IL per cent; Union Pacific sinking fund
SIS trust receipts, rs per cent, and Fort
Worth and Denver City Is, Kansas and
Texas IS, Union Pacific. Denver and Rio
Grande Is. st. Louis and San Francisco
6's. and Texas and Pacific Is. per cent
Governments were quiet, but prices were
sustained on dealings of 5000
Silver certificates were weak and lower In
sympathy with the recent decline in the
foreign quotations. The sales were 5000
at CAS-.
FOREIGN STOCK MARKETS
New York, Feb. 1.-The Evening Posts
London financial cablegram says:
THE stock markets were quiet today. be-
ing influenced by the dull weather and the
consols settlement. Consols were good on
cheap money. Other markets were rather
dull except Americans. in which there was
distinctly good buying. both OF bonds and
quoting the views of Nj. Gage who is to
be the new secretary of the treasury. on
the currency. had 4 good effect. The Lon
don discount market was weak at per
cent. Eng iish treasury bills for Fl 1000
were applied for nearly twelve times over
and all were placed IN three-months bills |
at an average rate of 10 per cent discount |
About $4,000 in gold from the Cape was |
bought By Japan. The Paris bourse was ,
quiet and the Berlin marke: firm. The |
buying there is of specialties in Ameri- |
cans"
LOANS AND EXCHANGE
New York. Feb. Money on call easy
at iisQ2 per cent; prime mercantile paper |
Sdi per cent: sterling exchange. heavy, |
with actual business in bankers bills at |
81. S5i2Ff4.ss for demand. and at s4SfzG |
4.S4@& for sixty days: posted rates. ASeI |
ASH, and sis7l-I4. So; commercial bills |
$-S3; silver certificates, sales S9.C00 az 6i7s.
bar silver. SIS: Mexican dollars. J0S4c gov
eminent bonds firm; new tours registered. |
12eS.: coupon ex int. 12zTs: fiveS registered. !
E5ss; coupon. 1117s; coupon. 1l2i2; twos reg
istered ex int 80: Pacific skies OF '9S, 1872. |
BANK CLEARINGS.
Philadelphia Pa. Feb. 1-Clearings, 81
30S.250; balances. s., S4s.71
Baltimore, Nd. Feb. 1.--Clearings, S2359,- 1
797; balances. S9.5..
St. Louis. Mo. Feb. 1.-Clearings, 81 rs
lS2: balances, 1901 SIS: mon ey. 5dS per cent: /
--1,a 80 -