The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-15

sue a Ike Course to Stocks.
New York, Sept. 14.-Today's opera
tons have resulted in another substan-
tial advance in the level Of prices on the
stock exchange. There was some talk
during the morning Of the existence Of
a powerful bear pool which was prepared
for extensive operations for a decline.
The supposed prestige Of this combina-
ton, coupled with the fact that London
prices came lower this morning, appar-
emily because Of doubts raised by yes
terday's reaction here, led 10 the early
success Of the bear contingent. The ar
guments they used were the same as
yesterday, the likelihood OF entangle-
ment over the Cuban question, the dan
damage done by storm on the Gulf OF
Mexico. The latter showed its effect on
Kansas City. Pittsburg and Gulf. St.
Paul and Burlington were driven below
par, and al the grangers declined an
average Of about 1-2 per cent, while
Louisville, Southern preferred and Kan
SIS and Texas preferred were off nearly
a point. The whole list receded frac-
ton. Later came denials from Wash
ington, on authority quite as weighty as
the first assertion, that no Warlike meas
ures were projected on the Cuban ques-
ton. The first reports Of heavy dam
age by the Gulf storm were a,so denied.
q ir1a ~lyad
in the exchange market came into notice,
actual rates for both long and short sterl-
ing and for cables receding 3-S 1-2 per
cent. London was also buying quite
freely Of favorite stocks The official
reports of wheat shortage in France and
Italy added TO the assurance Of contin-
ued heavy exports OF grain TO be paid
for. The advance in cotton at Liverpool
tended to the same end. These indica-
tons OF a prospective increase Of the
balance OF trade in our favor led TO ex-
pressions by foreign bankers that a
heavy gold import movement was GER
tain 10 result and was likely soon to COM
mence.
Money continued also to move very
freely to the interior. As the general
news bearing on the business outlook all
continued favorable, the prospect of gold
imports proved an available means to
turn the tide in favor Of the bulls. At
the same time il was reported from
Washington that the differences between
the government and the syndicate or
ganized TO purchase the Union Pacific
had been arranged and that approval
na civ a Ia hinnr y,laafinc-
in the afternoon. 1t was on this ac-
count that Union Pacific became so
prominent nthe afternoon rise, its ex-
treme advance being Is per cent, and
ITS net gain ga per cent. Northwest
and Omaha We're also notably strong
and led TO a buying movement, as on
former occasions, in all the Vanderbilt
stocks. St. Paul also recovered from the
early depression, advancing 1 ga per
cent. Northern Pacific preferred rose .
points. The market reacted to some ex-
tent before the close. and this. coupled
with the early declines, makes the net
gains considerably smaller than the eX-
treme advances. Among the industrials.
General Electric, Sugar and the local gas
st0 clxs were all notably strong. Net
gains OF over points We're shown by
Gas, Edison Electric OF
New York and Erie Telephone. Omaha's
net advance was per cent, and Sugar
the same. Cotton Oil, Sugar preferred.
Canadian Southern, Chicago Great
Western, Delaware and Hudson, Erie
first preferred, General Electric. New
York Central, New York. Chicago and
81. Louis second preferred, Northern Pa
,ific preferred. Northwest, Pennsylvania.
Pullman. 81. Paul and ST. Joseph and
Grand Island first preferred showed net
gains OF a point or over.
Total sales were 4S4 600 shares.
BONDS.
The price Of bonds fell off at the
opening. but the market became strong
later. Total sales We're s3.100, 900.
United States old tours registered sold
n 112 per cent; new tours registered and
coupon 125 rs; fives registered and
coupon ia Ia; tours registered Ill IS,
coupon 1113 -; twos registered sS: Pa
,ific skies Of '9S. 102.
FOREIGN STOCK MARKETS.
New York. Sept. 1.-THE Evening
Posts London financial cablegram says:
in the stock markets today Ameri-
,ans opened steady, then became dull
under the New York lead, but later re-
,overed and closed firm with London
,uying.
Grand Trunk Canada stocks continue
% advance. Venezuelan bonds have
allen heavily on the default in the re-
nittances for services OF debt. There
Ire no particulars yet regarding the ten
lers Of Indian treasury bills. except that |
we've months bills al 81, IS Sd receive |
| percentage.
with view possibly OF assisting |
speculation in silver, the rumor is re- |
hnl. "a In