The Wichita daily eagle., 1897-12-14
STOCKS AND BONDS
MARKET FOB SECURITIES Is BOTH
BROAD AND STRONG.
Southern and Southwestern Roads Lag
Jumps In the First Hour, Stimulating
Everything sEise-Government Crop Re-
port Helps the Grangers-Street Rail-
ways Keep an eye on the Underground
Project-Locai Gas Properties Heavy
London Buyer-Bonds are Active.

London a Buyer-Bonds are Active.
New York, Dec. 13-Today's market for
securities had every appearance OF breadth
and strength, the bidding being vigorous
and aggressive and well distributed. The
wact was not to be ignored, however, that
the stocks of southern and southwestern
roads, which were favorites with the bulls
last week, did not share in the advance
proport.onately, the price being kept down
by liberal offerings. A decrease fn' net
earnings for the first week in December
reported for Louisville, and somewhat
unfavorable showing for the same period
by Chesapeake and Ohio, may have ac-
counted for this, but there was a sug-
gestion of proft-taking in the movement
Of these stocks, in the face Of the great
strength manifest elsewhere IN the mar
ket The jump IN Sugar TO 145iz per cent
In the course of the first half hour stimulat-
ed the whole market The dissemination
rumors that an extra dividend was again
under consideration was the instrument
employed to effect this rise, and the mo-
tive of it was supported, however, at
certain stage OF any decline all day and
closed at a net advance Of over point.
The government crop report, with its re-
vised estimate of wheat crop Of 53o,OoO.09o
bushels, caused lively outbreak Of specu-
lation in the grangers, the ruling price for
wheat, with this heavy yield to draw on,
being regarded at insur.ng prosperity 10
the wheat-carrying railroads. Still another
element of strength in the days market
was the jump In the price of Metropolitan
Street railway This stock rose nearly
1fr,.-
to the present heaviness in Manhattan,
which dropped at one time nearly points
on account of published reports that syn
dicates had already been formed to finance
the proposed underground rapid transit
plan. Manhattan fully recovered before
the close and shows small fractional gain.
Union Pacific showed a sharp recovery
from its recent depression on the strength
of reports that the reorganization could
be carried through with a moderate in
crease of the proposed bonded Indebtedness
and preferred stock, and that the subsl-
died portion of Kansas Pacific was not
deemed essential to the success of the plan.
There was some heaViness N local gas Sc
curitieS owing TO current rumors OF diff
ficulty in the way OF the proposed amalga-
nation Of local companies. The days buy
ing was in large part professional and com
mission house business was on a small
scale. London was, however, liberal buy
er Of stocks in this market. Quite a mark
ed feature Of the day was the large num-
Der of small lots of d.vidend-paying stocks
which were bought. This class of buying
appeared gilt-edged investment stocks,
which rarely move, but which also mani
fest all through the list of dividend stocks
A feature of the day was the st:ffening Of
call loan rates to 3 per cent. though the
rate sa agsed of again before the close. The
rise IN the rate was attributed to a sud-
den and rather urgent demand, while Of
ferings were rather light, for the time be-
ing. Other departments of the money mar
ket were unaffected. Net results of the
days trading are very uneven, net gains
being a point IN the grangers, the coalers,
and Baltimore and Ohio, the others show
the general list.
The total sales of stocks today were 3i0-
500 shares.
BONDS.
The bond market continued active and
strong, the Atchison and Northern Pacific
issues being prominent. Net advances of
from 1 TO per cent were shown in a num-
Der Of bonds. Total sales were s3,SJ0,OOo
United States old fours registered, were
advanced Il per cent bid, coupons Is per
cent bid, while the new fours declined II
per cent bid. New fours, registered, and
coupon, 12sss fours, 112s.; coupon, TiSs;
twos. 99ls; fves, registered and coupon,
HIS; Pacific skies of '9S, 102S
FOREIGN STOCKS.
New York, Dec. 13.-The Evening Posts
London financial cablegram says:
The tone of the stock markers her. was
good today, but business was checked by
the commencement Of the settlement.
Money was dearer. the rate being Der
cent. Contangoes on Americans averaged
5 per cent.
LOANS AND EXCHANGE.
New York, Dec. 13.-AIoney on call firm
at IL per cent: last loan. per cent; clos
ed 2g2l5 per cent; prime mercantile paper
SGii2 per cent. Sterling exchange steady, |
with actual business in bankers bills at
81 S5i4 4d4S53s for demand and sIs2I4d4 S2s. |
for sixty days; posted rates 4S5I1f4 81. |
and a-s519Q4.s7; commercial bills, AslIaf |
4.S; silver certificates 5Si4q4sl. bar silver, |
5S14c; Mexican dollars. 4SI.c.
TREASURY STATEMENT
Washington, Dec. 13.-Today's statement |
Of the condition OF the treasury shows: |
Available cash balance, S227, al, ,ss5; gold re-
serve. si59,Se4,27S