The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-29
STOCKS AND BONDS.
BEARS IN TIE STOCK MARKET ARE
MORE CONFIDENT.

Continued FirmEess of the Money
| Market, BESIDES the Story Afioat as to
| Secretary Cages Resisnation-Msn-
| haitian. Western Union and Brooklyn
Transit Sustain the sIarket-Uniou Psci-
| fc Paymen. and the Money Market
! New York, Dec. 2s.-Tne bears in the
| stock market showed somewhat more
| confidence today and had some SUCCESS
in reducing prices. The most potent fac
ter in their favor was the continued firm
| ness Of the money market but much was
made at one time during the day of the
| reported willingness of the Secretary OF
| the treasury TO resign his Office. This
| report was exaggerated into a story that
| the resignation had actually been made
and the effect was 10 precipitate a sell
| ing movement, which was, however, con-
| fined 10 the professionals, which reached
| only moderate proportions. The market
| showed no change from its recent hol-
| iday character and its eennoIsnce of
waiting for conditions in the money mar
/ ket to become more defined and settled.
| fuence, IN two specialties, notably Man
| haitian. Western Union and Brooklyn
Transit, the scale would have inclined
; much more sharply to the side OF depres-
| sion Third Avenue, which has been so
prominent feature in the recent mar
ket. reacted five points today and Pitts
burg, Cincinnati, Chicago and ST. Louis
preferred also fell conspicuously 2 ga
points in the late dealinge. TIE coalers
were notably weak ana at one time fell
: points Metropolitan Street Railway,
which was 1eslt in ex-dividend Of 1896,
showed soma feverishness but ended
WITH small net gain. Burlington fell
nearly point below par, in face Of
November statement showing an in
crease in ne, earnings over last year Of
s332e,7SS, even after the operating ex-
penses of he rad had been run up over
$500 above last year.
Today's clearing house showed the
treasury department debtor on bal
ance to the extent Of s1177,243. Yester-
days Union Pacific payment by the re-
organization committee found a place
in today's clearing house operations. II
involved the payment into the sub-treas-
ury of about s4,5O0, 900 in cash It fol- |
lows tnac the Sub-treasury paid out to- |
day over s., 50o. 0C0 for redemption of Pa /
cific bonds BY yesterdays and today's !
operations the government has supplied !
the money market with over s.. 900. 900 |
on balance. the tone OF the market was |
not, however, easier. loans being made, |
as on yesterday. all the way from 31-2 /
TO IL, with exceptions al the close at |
3 per cent.
Sterling exchange also continued 1
steady. There are still several millions /
of Pacific bors,s which mature on jan
uary l ana which are not available for /
redemption uroer the governments Of /
fer, but it is difficult to estimate how far /
Inc owners OF these bonds will avail |
themselves of the governments offer. /
The fr;nness u the time money for the |
shorter periods, t:le rate being 31-2 per
cent from; 80 10 80 days. indicates be- /
lief that the rates may continue stiff !
after the first of the year. The demand /
for money in London and Berlin has its
effect in keeping up the exchange rate
and il is0 elievei TO be not improbable
that the Bank OF England will advance
is minimum. rate this week There is
perfect confidence felt, however, that
this viii not avail to prevent a move
ment OF gold in this direction II any
real stringency was threatened az this
centre.
Total sales of. stock today $4,000
shares.
BONDS.
The bond market showed some irreg-
ularty today, sharp advances being
shown in some issues, while others were
conspicuousiy heavy. The total sales
were $1,000. OC0. United States old fours
registered declined Is per cent. the new
tours registered IA per cent bid; the old
tours bid sold later at 1-2G1 "a per
cent. the price asked. New fours regis
tered and coupon 12S II; fours 112 3-S;
coupon ia 3D.; twos 90 -; fives regis
Tered and coupon Halls; Pacific skies OF
'9S los II
FOREIGN STOCKS.
New York, Dec. 2S.-Ths Evening
Posts London financial caoIegram:
The stock markets here wore holi-
day appearance today. Money Cor settle
ment purposes was dearer. the rate on
Americans being fully per cent. The
tone vas duh for caoice but there vas
no bid. The Bank OF England is charg-
ing per ctn; for advances but IS dis
counting a. 3 per cent. No advance in
the rate is expected. Now that New
York exchange mas risen gold may go to
India, money being very much wanted
there and ordinary source or remittance
being curtailej.
LOANS AND EXCHANGE.
New Io-k. Dec. 2S.-Noon: Money on
cal ronina'Iy 31-2Gt1-2 per cent; prime
mercantile paper 1-2d4 81 per cent;
sterling exchange heavy win actual
business n bankers bills al s4Sf La
l-2 for demand ans a. $sSI i-2G3-4 for
sixty days: posted rates S+S2 1-2G+S3
and S4.S5 1-2et4S6; commercials bills
$3.50 f-2T+S1 81; silver certificates 5765s;
bar silver IS 5-4; Mexican dollars 81 IS.
SILVER FOR EUROPE.
New York, Dec. 2S.-The steamship St
PAU sailing fo- Europe tomorrow viii
take out 1.id1 600 ounces Of silver.
DRY GOODS MARKETS
New York Dec. S-This ss clearing Up" ;
vAak in the dry gods touS,S TsN-zrf- IN