The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-19
STOCKS AND BONDS
REACTIONISrS IN THE STOCK MAR
KET TAKE A DAY cFF.

Prices at No Time Lower Than Saturdays
Close, Which Constitutes It q Market
Exceptional In Recent Weeks-Post-
ponement of Action on the Nebraska
Freight Rate Case Followed bv In
creased Activity In Trading-Grangers
Strong and the vanderbiits Moving
Vigorously Upward
New York, Oct 1s-For the first time
in several weeks prices OF stocks were
at no time during the day below the level
of those prevailing at the close OF the night
besfore. There were occasional slight re-
actions today, with no better apparent
cause than sympathy with Sugar, Which
was itself markedly strong and was turn
ed backwards at times only by profit
morning on the expectation of a decision
of the supreme court Of Washington in
the Nebraska freight rate case. Although
this decision IS expected 10 be in favor OF
the railroad and was looked 10 give an
upward impetus to prices. the announce
ION had been postponed was followed by
a decided increase in the activity of trad
ing, an activity attending the rise of prices
instead of the decline, for the first time
in many weeks. The strength of the
granger stocks and the awakened interest
and improvement in the Vanderb!lts Were
very notable. The vigorous upward move
ment of this powerfully influential group
IL, -l,a
list, net gains in nearly all the active
stock eQualling at least a point and in
several special cases equalling or exceed
ing 2 points. A feature OF the market
quite as striking as the strength of the
railroad stocks was the neglect OF the in
dustrials, except Sugar, as compared with
the recent trading, and even Sugar showed
a falling off in activity as the day pro-
crossed and the trading In the railroad
stocks developed greater animation. Chi
cago Gas, which of late has entirely over
Swallowed the rest of the market, today
fell into inoucous desuetude and was no
longer available as an Instrument for the
bears TO demoralze prices in the general
list. Its total range of prices was only
a small fraction and the small volume OF
transactions in 1t looked almost like neg
lect. While Sugar was quite active and
moved somewhat irregularly within a
range~of nearly 8 points, il showed suffi-
cient strength TO aid the rest of the list
by sympath and closed at a net gain of
26s per cent The money market was no.
ticeably easy, which was an additional in
centive to renewal Of speculation. The
statements Of railroad earnings for the
second week in October which were receiv-
ed, all show continued marked increases
over the corresponding period last year,
the soft coal roads showing an especial
~ noticeable recovery from their recent
heavy depression. The September state
ment of the Pttsburg, Cleveland. Chicago
and st. Louis caused sharp advances in
the stocks Of that company, the preferred
stock rising 21S per cent. Pullman ad-
vanced 3A per cent and SusQuehanna and
Western preferred "a per cent.
While the character OF the trading to-
day did not go outside the professional
limits which have marked 1t for several
weeks, the undertone of strength of the
market showed the practical cessation Of
the manipulation by the reactionists. Su-
gar was the only stock on the list TO show
transactions exceeding 20.oJO shares and
the total sales Of all stocks fell considera-
bly, below 80, 900 shares.
The total sales of stocks today were 235,-
300 shares.
BONDS.
The bond market was not very active
but prices were generally firm. The total
sales were sl.5Oo000.
Government bonds wer firm. new tours
registered 12S7s; coupon. 127: tours. regis
tered. n21s; coupon. 1872; twos, 9Sl1; fives
registered, HAS; do coupon. 1l52s; Pacific
skies, of 'ss. 1O214
FOREIGN STOCK MARKETS.
London. Oct. 1S.-The market for Amer
lean securities opened firm and continued
SO all day on an improved general feeling.
The close was steady.
New York, Oct. 2S The Evening Posts
London financial cablegram says:
The stock markets were quiet, but firm,
today, consols leading in government buy
ing. Americans were better and the tone
at the close was steady. The opinion here
on the market is that the shake-out in
New York is practically over. Dealers,
however, do not back their opinion with
much buying. apparently preferring to
await a more definite lead from New
York
Gold is in strong demand from Russia
and Germany. and the price is now so
high as to forbid buying for New York
at present.
The actual decision of the cabinet a.
to silver is not really known here. II IS
generally believed that the Indian minis
VIII not be re-opened now, but IL is fear
ed that the matter has been left open for
future decision.
The Paris and Berlin markets were
quiet"
LOANS AND EXCHANGE.
New York. Oct. 1S.-Money on call easier
at 2G2ie per cent: last loan 2i2 per cent;
closed 2Q2i1 per cent; prime mercantile
paper ii.q42. per cent. Sterling exchange
easy. with actual business in bankers
bills at siS1. G4S42s for demand and al
81 s9. IA s. for 60 days; posted rates S4.s2Is
qi.SSi2 and Sass. Commercial bills. siSi.
Silver certificates 5S1~d5sc: bar silver,
5ss.c; Mexican dollars, 44S.c.
TREASURY STATEMENT
Washington, Oct. 1S-Today's statement
of the condition OF the treasury shows:
Available cash balance, 500 rs. rs; gold
reserve sl5o,7o6.57s
GRAIN AND PRODUCE MARKETS
The following Official range OF prices on
grain and provisions ar Chicago Is furnish