The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-01-16

kets-Week's Review.
New York Jan. i5.-The stock market Tn
derwent a decided change today from re-
Gently ruling conditions ana displayed q
degree of spirit that has no. teen witness
ed :or some time past. But the only ap-
parent influences upon the speculation
were decidedly favorable, including the eX-
ceptionally strong International trade po-
sit:oG of the United States. Illustrated by
the excess of exports over imports in De-
cem5er of Se.e1l .esss The absence OF de-
pressing news. London buying our stocks
and bonds, anu the pressure OF money az
this center, which is now being steadily re-
fec;ed IN the increasing demand for prime
mercantile securities, all combined 70 liz
the marke. cut CT the .ui into which Il has
been lying. The official announcement
foreshadcwiu3 the declaring OF the regular
quarterly dividend OF IL per cent in Chi
caso Gas helped that stock, and the as
sumption that changes in the tariff, calcu-
lated to unfavorably affect the American
Sugar Refining company were improbable
was used by the bulls 10 advance the price
OF that specially, with sympathetic effect
upon the general list. Particular interest
was attached by the street 10 the strength
ard activity in railway and miscellaneous
. bonds, which induced purchases for COM
mission house account. The advance was
rounded out by the efforts OF shorts 10
tighten their accounts. A special influence
was exerted on shares of the bituminous
coal-carrying roads by the reported improv-
ing outlook for an agreement as 10 rates
at the meeting in Chicago next week The
market in addition 20 the increased acttvi-
ty, showed an excellent distribution of bust
ness, although Sugar was more than twice
as active as any other individual stock The
railway shares attracted more speculative
interest than for some time past. Reah-
cations were on a large scale at intervals,
but the offerings were we'll absorbed and
the market closed strong and active al the
best prices.
The total sales Of stocks today were ILL.,
043- shares, including: American Sugar. A.
co., Burlington. 1890; Chicago Gas, $500;
Louisville and Nashville. 12.oo0; Manhattan.
$500; Northern Pacific preferred. 400: st.
Paul 1880; Reading. 1880; Rock Island,
500; Tennessee Coal and Iron. 7.l0o; South
ern Railroad preferred, $500; Union aPcific.
$500; Wheeling and Lake Erie, 5000.
ket continues with increased volume. The
market exhibits decided broadening ten
dency, covering many issues hitherto neg
lected. The aggregate sales were s2.2ll. coo.
Governments were slightly higher on deal
ings of $4,000.
FOREIGN STOCK MARKETS.
New York. Jan. 15.-The Evening Posts
London Financial cablegram says:
THE stock markets were quiet today, but
good Americans were firm. The main fac
tor was the talk of cheap money. II is
too early to express an opinion as to wheth-
er this expectation is justifiable or not. IL
is understood that nearly a million in gold
is coming here from Egypt soon, and that
fSc0.0O0 IS on the way from the Cape. but
the latter will soon be Dough up. AS an
instance of the random talk today about
easy money, 1t was even said that gold
would be leaving the United tSates at once
for London. The Paris bourse was firm.
a million sterling in Brazilian treasury bills
Is said TO be placed in Paris. The Berlin
market was steady"
REVIEW OF THE WEEK.
New York, Jan. 15.-Bradstreet's review
OF the stock market tomorrow will say:
The feature of the week, IL any can be
named. was the scanty supply of stocks for
sale, and the consequent t.midity of the
bear traders in regard to increasing their
outstanding short contracts. One OF the
current remarks in the street Is that the
liquidation has been thorough. and that not
only have stocks passed into strong hands.
but that the f1uctuating supply has been
greatly reduced by outright purchases. In
spite, therefore. of the inactivity, the feel
Ing in the street is that. with any symp-
toms Of a revival in trade or of improve
ment in railroad earnings. the market Is
likely TO respond by a decided rise. and a
corresponding increase in It's activity. The
advances that were actually scored on
Thursday and Friday would seem to be an
attempt, under professional leadership. to
discount this situation. the nervousness OF
the short interest supplying IN a measure
the lack OF outside or foreign participa-
ton The clase on Friday was. however,
az about the best level for some time past.
and 1t was noticeable that the advances
failed 20 encourage any important selling
London has not been factor IN our market
during the week. The financial situation
there has, however. improved somewhat,
discounts being down to below per cent
This has caused some advances in home
rails, but the influence has not yet extend
ed 10 American stocks. which are neglected.
though steady. II may also be remarked
that our stock market has taken little inter-
est in the renewed strength OF foreign ex-
change rates here. The advance IL would
seem, is In part a natural one at this sea-
son Of the year. but is also due largely 20
the continued buying OF long bills by bank
ers, 20 be held In loans till they rnatrus,
the relatively higher rates for money In
London sill making such transactions sd-
vantaseous- Sugar has been the active
feature of the stock list In spite OF the
accounts Of the vigorous steps taken BIZ
TIE Sugar people and their opponents IN
he coffe trade war. an idea has found
Judgment In Wall street that a compromise
VIII be the outcome. This does rot agree
with tire fact that the Messrs. Arbuckle.
as minority holders IN the woolson Spice
company, are seeking 70 snjo.n the Sugar
interests. which control that concern. from
running IL al a loss. The annual meeting
OF the Sugar company. held this week. was.
as usual. vi;hou; any presentation Of al
annual report, ard the estimates OF out
s.dsrs that the company earned in 1886. 81
600 or above lis dividend. may or may
no: involve exsgge-aton. Nevertheless
the stock was steady q: between IL ard
r2is and On Friday had a squirt OF strength
up 20 L. Washington buying gave sup.
port 20 rumcTs that a new tariff bgl VIII
grant additional protection 70 refining n
tsrests.
Covering Ct shorts - burlington caused
L to advance from u per cent 70 20. per
cea;. ard St Paul was strong az from sz7sG
-. per cent Whse,i.z and Lake Erie Ess
= weak feature. falling from g.. Per csz,
10 - per csat for COMMON and from ~.
per cent 20 u Pc. cent for the preferred.
DIVIDENDS.
Bostc.. Mass, ian 1.-THE directors o.
tie Boston AID Montsa; sIzz3-E company.
AZ 4 meeting he.5 1ere today. declared
dividend of = per s5zre. TIE ciy5asnd Il
czyab.s Fshrcary - % stocx cf reccrc