The Wichita daily eagle., 1897-12-09

Being Quite Animated and With An Up
ward Tendency Which Achieves Gains
Throughout the List, Commission
House Orders and London Buying Be-
Ing Ia Evidenee-susar. However, Runs
Wild Among Other stocks and Il eeps
Them Unsettled, the Final Result Betnp
Fractional Net Gains.
New York, Dec. a-The stock market
opened this morning with a tremendous
show OF animation ard vigorous upward
tendency, gains being uniform pretty much
throughout the list 1t was evident that
tne strength displayed by the market yes
terday had brought orders to the commits
SON houses TO buy stocks. There was also
buying for London account for the first
time In several days. the advance in prices
here APPARENTLY failing 10 tempt srbitrags
brokers to sell. The purchase Of ct. Paul
were on quite a large scale and they also
bought Union Pacific, but they were sales
Of Louisville and Atchison for London Su-
gar was the one exception In the strength
OF the market At the opening, but the loss
soon widened and heavier Liquidation in
the stock set IN. offerings being very heavy
AMI active, support being Of no avail to
recover its losses. Yesterdays rumor Of
an extra dividend was thoroughly d.scred-
.ted and yesterdays gain was in conse-
Quenoe completely wiped out before the an
nouncement OF the regular dividend. The
stock was very feverish all day ard fuct-
uate6 widely and frequently but worked
constantly towards lower level and closed
near the lowest at net loss Of 42s points.
Tn- al Farr oysxy
soudated Gas was also a mark for the re-
acton.sts and dropped at one time az
points. The consequence was that the mar
ket wa1 kept unsettled all day. When the
general advance came 70 q stop dullress
interviewed and there were frequent rallies
Early IN the final hour prices Of many
. stocks we're at he best but the final drop
in Sugar again weakened prices all around
and left net gains confined 70 fractions in
almost all cases and a fair sprinklins of
losses all through the list One Of these
losses occurred Ia MINNEAPOLIS and ST.
Louis second preferred, which had been
advanced in the morning on a rumor that
the dividend was 70 be increased and which
reacted ou the amount Of the regular div
idend. Union Pacific also was heavy on
account Of the steps taken by the govern
rnent TO qualify as a bidder at the Kansas
Pacific sale. ocher stocks inclined to iaeav- |
mess were Western Union, Manhattan. |
Metropolitan Railway and New York Cen |
trail Southern preferred continued the ad- |
vance which was begun On yesterday on !
runiorS Of en- approaching dividend, and |
rose at one time 1s per cent Tobacco also |
developed late strength but reacted before (
the close. Cleveland, Cincinnati, Chicago
and ST. Louis enjoyed the benefit of IA
vorable statement of earnings for the
fourth week In November
The total sales Of stocks today were 49,
$50 shares
BONDS.
The activity displayed by the bond mar
ket was quits remarka5ie. sales for the
first hour approaching $1,750, 900 In par value
and Il s said, breaking ne record for one
hours business. There was some decrease
in activity later in the day, but the tone
OF the market continued strong and prices
Of number Of bonds OF the middle grade
moved up from 20 points Some of the
high-grade bonds showed heavy gains
Michigan Central lives of 1881 rising 81 ;
per cent, Milwaukee and Northern oonsoIs
OF 1881 gaining 3it per cent; Louisville and
Nashville, P. and A. division, fves, Der
cent; and Northern Pacific terminal firsts.
2 per cent. Missouri Pacific collateral fives
also sained 81. points. Total sales, A,2s0.- {
900.
Government old fours, registered. deciin-
ed Il per cent, and the coupon u per cent
bid, but the fves rose Il per cent bid; the {
new fours, coupon. sold at r,s per cent, l
which is higher than ever before New !
fours, registered, 1ac1s; coupon. 121A; fours, .
ll2ls; coupon. Ia; Pacific skies OF 'as, lo27s. !
THE SUGAR DIVIDEND. +
New York, Dec. s.-The directors of the {
American Sugar Refining company have 6
declared the regular dividends on the com- :
mon ana preferred stocks at the rate of !
3 Per cent on the common and I% per cent v
On tbs preferred stock h
NEW STOCKS LISTED. I
New York, Dec. S-The governors Of the n
stock exchange today authorized the list G
ing CT the following securities: 4:
Northern Pacific Railway company. 81 [
$4,000 additional prior len railway and land !.
grant per cent gold coupon bonds.
Central Pacific Railway company. ssoa.-
oO ffty-year per cent mortgage gold 81
bonds, Cbond-holders agreernent) q
Unlisted securities: Hawaiian CONNER l
csal and Sugar company. sI0.000,ooo capital q
stock. 600 shares. 800 each, on which s2s .
per share has been paid in cash) n
LOANS AND EXCHANGE.
New York, Dec. s-Aoney on call nom
nally at 11sdo per cent; prime mercantil. y
paper, SG4 per cent; sterling exchange, n
steady. with actual business in bankers
bills at s4.sas for demand and at as2a.a 20
4 80 for sixty days; posted rates AssIA; 81 -
-er certificates &9e0l5; bar silver. 5s1,: l
Mexican dollars 49,.
FOREIGN STOCKS. "
New York. Dec. s.-The Evening Posts
-oEdon financial cablegram says: &C
The markets were today inactive, but
heerful, the features being the buopancy II
I Americans and Argentines In the for te
me- case the tone was entirely due 10 New OF
FORK support. There was q good feeling {.
ERE. but little action. So apathetic are ooosl-
callers that Secretary Cages currency us
lars had little effect. OF course It is felt
hat II this scheme for an issue of 2l5 per da
ent bonds repayable, principsI and inter- m
ST. in gold coin. is carried through. a Ss-
Teat stride will be made toward currency ,
eforTn- Prices closed AZ the best South In,
n railway preferred was especially good | n,
irand Trunks were booming and all de- N
cr.pticns Of Canadian securities. incluyy- q
lg Hudson Bay shares were good. Argeo-
mes were bought from influential omar
ars- 1t was urged that with the rssun,r- IS.
on soon OF full interest the bonds are !
heap Apropos OF the rise In Argeatines Ie
Just learn privately that a meeting OF !
hat IS known as the Rothschilds commit e
e has been called tor Friday. Ii is beliey- /
-------- 81,
go r Parse. Pres J H Waite, Sec-Tress