The Wichita daily eagle., 1897-11-30
STOCKS AND BONDS
SATURDAYS STRENGTH BRINGS IN
BUSINESS OVER SUNDAY.

Ouotstions on the London Exchange Come
Also to Help Make nm A imated Open
ing-Realizing, However, Proves toe
Much for the Withholding 0l
the Nebraska Freight Rate Decision
Soaring and the votumne of it Is Heavy
The Money Market.
New York, Nov. 29.-There was an ac-
cumulat ton of commission house orders
in the market at the opening this MORN
ing which had come in over Sunday as a
result Of the strength displayed by the
stock market On Saturday. The quota
tons for Americans were also run up on
the London exchange before the opening
here. AS consequence the marke;
opened with quite an animated buying
movement and an advance of marked
fraction along the line. But the buyers
oe Friday and Saturday Immediately set
about realizing their profits and sthe ad-
vance came 10 an untimely end. The
motive offered for the selling was the
withholding OF the decision Of the Ne
braska maximum freight rate case by
the supreme court. There were occasion
al rallies during the day, Sugar mount
ing strongly upward after a preliminary
decline to the extent Of almost points.
There was very heavy speculation in
this stock during the day. sales amount
ing TO cne-third of all sales, or over 100,-
900 shares. and It's price closed unchang-
ed from Saturday. There was some buy
cline TO cover contracts made In London
at the early higher level, and this also
helped to STEADY the market. The early
weakness soon overlook II and was the
prevailing tone for the balance Of the
day. and declines reaching to near
point in many leading stocks and exceed
ing that in special cases. Manhattan
was markedly weak all day and suffered
a net loss of 3-4 points. Peoples Gas
also developed late weakness and lost
nearly a point on the day. The grangers
were quite conspicuous In the decline, as
being most Immediately interested in the
Nebraska freight law. AS a result of a
lively realiza ton movement in the active
specula ton in Sugar sales Of stocks ran
up TO near 20J, 900 shares before noon, a
figure in excess OF any days trading for
several weeks. The continued strength
Of the sterling exchange market attracts
much attention in vie wof the status Of
the International balances Posted rates
were advanced 1-2 cent for both long and
short sterling. There Is a feeling that
the investment buying Of long exchange,
the leaving of funds due on balance in
interest abroad and the arrivals of gold
at San Francisco from Australia are not
sufficient combined to account for the
strength Of exchange. and that there is
much heavier selling Of high class Amer
lean securities by European holders for
transfer to this side Of the water than
on the surface appears. The high level
of prices for this grade of securities goes
% confirm this view. The very heavy
Increase in the loans of clearinghouse
oanks, amounting to over s14,000, 900. as
shown in Saturdays bank statement, is
ilso being scrutinized. The explanation
hat the increase was connected with the
Union Pacific company's payment to the
does not entirely cover the
ground, as the expansion of loans previ-
,us to November 20 was already suffi-
;ient to account for that operation and
vas attributed to it. Saturdays state
nent seems to indicate that the payment
o the government, which was left on de-
81 iv,f ba nod al 5xr
replaced In loans. As the
Union Pacific reorganization committee
vas supposed to have already secured ali
needed funds before last Mondays pay
nent to the government it is difficult to
lccount for this large absorption of
money in view of the known condition OF
he money market, demand fr money be-
ng very dull in all departments.
The total sales of stocks today were
q, 100 shares.
BONDS.
The bond market was quite active and |
road, and prices were higher in almost |
II cases. Total sales 81, 500, 900.
United States old foups, registered, |
we're Is per cent higher bid, the fives |
A per cent higher bid, and the new
ours 1-2 per cent higher bid. There |
we're sales Of the new fours coupon at |
IS IL per cent. the highest on record. |
Sew fours, registered and coupon. 12S 3-S !
ours, 112 rs; coupon ia IA; Pacific skies
f '9S. 1O2 SIS
FOREIGN STOCK MARKET.
London, Nov. 29.-The market for |
american securities advanced somewhat, |
ut weakened Ia ter on New York selling. |
me tone was dull and the demand gen
rally light.
New York, Nov. 29.-The Evening
'ost's London financial cablegram says:
The stock markets were quiet today,
S whole, but consols were still rising.
had a steady opening and be-
anne firmer. but sagged off at the close.
ne tone. however, was better than 1t
ad been for days past
The f2,500.000 of India treasury bills
ave been taken in six months paper at
pence over ? S-4. but the money market
easier.
The Paris bourse had dull opening.
ut closed firm
LOANS AND EXCHANGE.
New York, Nov. 29.-Money on call
ominally al ! 1-2 and per cent: prime
lercantlle paper SG3 IL per cent. Ster-