The Wichita daily eagle., 1897-11-23
STOCKS AND BONDS
STOCK MARKET HAS A SEVERE
STRUGGLE WITH ITSELF.

Small Net Losses in the Railway List
General. Except Northern Pacific.
Which is Aggressively Stronghold
Corporations Strong--Onion Pacific Pay.
ment Leaves Money Undisturbed
New York, Nov. 221There was not
much change in the character of the gen.
eral dealings in the stock market today,
but some special stocks showed marked
Strength and some others marked weak
ness. Trading was for the most part
dull and narrow and resulted in small
net losses generally in the railway list.
The Northern Pacific stocks were the
notable exceptions in this portion Of the
list and developed quite aggressive
strength as the day progressed. The
preferred stock closed with a net gain Of
l 3-8 per cent and the common with
net gain Of 1-s per cent. The motive Of
the buying was the statement Of gross
earnings. for the second week In Novem-
Der, which showed an increase over the
corresponding period OF last year of
S181, ,137, or over 45 per cent. Following
a strong statement for the first week
the effect was TO create a strong de-
msnd for this stock by local operators,
Which carried the price up in spite OF
some selling for London account. An
other feature of the days trading was
the conspicuous strength shown by the
Stocks OF local corporations. The motive
assigned to this buying was the expecta-
ton Of corporate benefits and privileges
Metropolitan Street Railway was the
leader in this class and It touched 155
per cent early in the day, which was 3-4
per cent above Saturdays close. IT clos
ed point lower. Consolidated Gas, with
an extreme rise Of S-S per cent; Brook
}yn Union Gas, with rise of 7-S per
cent; Manhattan, with the same amount,
and Brooklyn Rapid Transit, which was
st one time ! 1-S per cent above Satur-
days close, were other examples All
Of those reacted a greater OF less extent,
notably Consolidated Gas which closed
a small fraction under Saturday On
the other hand, the coalers were notably
weak, New Jersey Central showing an
extreme decrease OF 3-S per cent, and
Delaware and Hudson Of 3-4 per cent,
the latter rsllying over a point. Outside
Of these the market was dull and with
out anything Of general interest. One
OF the incidents Of the day was the first
payment TO the government by the
Union Pacific reorganization committee
on account OF me foreclosure sale. The
amount of the payment was s13,615,25O
The transaction was effected by a trans
fer Of credits from the common account
Of cash deposited in one Of the city
banks, to the government, which leaves
the money on deposit In the same bank,
the bank having placed government
bonds in the treasury at Washington az
security. The transaction was comp,et-
ed without creating ripple in the
money market. The remainder of the |
purchase price Is to be paid in four |
equal installments, the first OF which |
will be paid on December 6, and the re- /
three at intervals of ten days. !
Each installment Is about IS, SOC, 900 and |
no apprehension is felt that they will |
create any disturbance in the money
market.
The total sale. OF stocks today were
Isl, 200 shares.
BONDS.
The bond market was quite strong and !
showed considerable activity. High |
grade bonds were in special demand and |
were stiffiy held, tire offerings being |
light. Foreign holders continued to sell !
this class OF securities, invited by the |
rYyl-
were 81. $50. 900.
United States four coupon Of 1907 rose |
3-S per cent bid, to 1141-s per cent, and |
sold al that, which is equal TO the price |
of the ives. The new fours were is per
cent higher bid. New fours registered |
and coupon PITS; fours 112 7-s. coupon
113 rs; seconds 9S 1-3; fives registered |
and coupon ia Is: Pacific skies of '9S,
lO2 1-2.
FOREIGN STOCK MARKET.
New York, Nov. 2a.-The Evening
Posts London financial cal5legram says:
The stock markets were stagnsnt to-
day in advance of the settlement which
IS TO commence in mines tomorrow.
Americans were steady, New York alb
sorbing all the stock offered, especially
first-class securities, Of which there is
quite a famine. Northern Pacific pre-
ferred was especially strong Grand
Trunks were firm and Braziis were fiat.
Cold is at us II sd. The new gold
is dribbling away from Japan
and is being bought UP here for Ger
many.
The Indian government announces
the issue of 100000 pounds OF sterling
six or twelve months bills. A perma-
nent sterling loan is expected next
spring.
The Paris and Berlin markets were
Iuiet AMI dull
LOANS AND EXCHANGE.
New York. Nov. 22-Money on call
at ! 1902 per cent Prime
mercantile paper 1-4G4 IL per cent.
Sterling exchange firm with actual busi-
ness in bankers bills at S4S5 LA
1 So SIS for demand and at s4.s2 S-41
t 50 IS for sixty days. Posted rates
s. SIS 1-2 and 81 Sc 1-2 Commercial bills
a 50 IA. Silver certificates 5SG5e. Bar
silver 6S2-s. Mexican dollars As 5-s
,ents.
TREASURY STATEMENT.
Washington, Nov. 22.-Today's stae-
nent OF the condition Of the treasury
nhrictin -Ctraat G0mmiccian IN