The Wichita daily eagle., 1897-12-12
STOCKS AND BONDS

ALL THINGS O0NsPIRE TO PUT UP
SHARE VALUES
Professionally Repognaaes to Keeping
Contracts Open Over Sunday and the
Natural Reaction From Fridays Re-
lapse Are the Main Lines of the Strength
Bear Pressure at the Opeping-BasI
Support Is Vigorous on Weak Spots AID
the Tide ID Turned-sIIghs Recession ut
fhe Close Due to the Bank Statement
New York. Dec. u-Today's stock mar
ket reflected the tendency OF professional
traders TO close up contracts at the end of
week rather than keep them open over
Sunday and also a natural reaction to-
wards higher level after yesterdays re-
lapse in prices. There was some bear
pressure against prices at the opening.
Manhattan being driven down IL per cent
and Sugar yielding point after a small
gain But this lead failed to induce any
large following and II became apparent
that yesterdays liquidation had run its
course for the present The bull contin-
gent was prepared TO offer vigorous sup
port to weak spots and large buying or
ders for their account turned the tide. Su-
gas was the center of the markets
strength and the firm resistance Of prices
drove the bears TO cover. There was a
noticeable sluggishness Of price move
nent in some Of the most prominent stocks
in the market on the rise. Sugar was quite
buoyant and rose to within ABOUT points
OF the highest OF tae week, closing with
net gain Of IL points. Its range for the
day was 3 points, Manhattan showed a
good recuperative power and rallied with
in fraction OF last nights close. Be-
sides the technical causes for the rise, the
market was aided by the recurring posi-
bil-ty that decision may be handed down
by the supreme court on Mondoy In the
Nebraska maximum fraight rate case. Wall
street traders securities maintain an abid-
ing faith that when this decision does
come it viii be IN favor OF the railroads
and the fact that Monday is decision day
with the supreme court, has made Satur-
day day OF tinidity with the shorts ever
since the decision has been pending with
the present session. Assertions were also
given consideration that there is a grow
ing possibility OF favorable action by con-
gress On bills to authorize pooling and
against ticket scalpfng, and this added to
the strength OF the railroads. Northern
Pacific preferred enjoyed the benefit Of
the first dividend. declared yesterday by
the directors, since the reorganization Of
the company and of the favorable state
ment Of earnings given out at the same
tine. The slight recessions from the best
at the close, were promptly induced by
the bank statement The large shrinka ge
in the surplus Is due not alone to the rais-
ing Of the legal reserve limit by the heavy
increase in deposits. but by an actual de-
crease in cash cf $1,01e, 100. The items OF
loans and deposits, with the large increase
shown, are affected by the further pay
ments on account OF the Union Pacific
sale There has been a movement OF cur
rency to ST. Louis and New Orleans during
the week, which probably accounts for the
decrease in cash.
The total sales Of stocks today were 1si.-
800 shares.
BONDS.
The strength and activity n the bond
market during the week have been even
ket. High-grade bonds have been thor
oughly gone over and lifted almost to pro-
hibitive prices the government bonds ris-
ing with the others. The demand has
shifted 10 m;ddle-grade bonds, which have
shown material advances. Speculative IS
sues have moved in sympathy with stocks,
but are high here on the week
United States new fours have been bid
up during the week e per cent, the old
fours registered 3 per cent, the fves az
per cent. and the old fours coupon 4 per
cent
Today the price OF the United States new
fours was bid up y per cent. and CT the
Old fours. registered, = per cent. New
fours, registered and coupon. 1895; fours,
u2as; coupon, r4as: twos. 90:
hves, registered and coupon. Iiss; Pacific
SKIES of 'ss, 102ss.
FOREIGN STOCKS.
New York. Dec. 1.-THE Evening Posts
London financial cablegram says:
The stock market. here were quiet today,
but with rather a better tone, owing to
the snoothness Of the mining carry-over |
and lighter contagoes than had been ex-
pected.
It is anticipated that the general eenti- |
ment next week will show a small ac-
count, but money viii be dearer.
Americans were easier on realiza Tors
here in anticipation Of the settlement Cop-
per shares were dull, but steadier"
LOANS AND EXCHANGE.
New York, Dec. u.-Noney on call norn,- |
lally 11zQ2; prime mercantile paper. 39rs: |
sterling exchange, steady, with actual bus |
ness in bankers bills at A.s5,&d4 SIX for |
demand and al 81 s21zG4 s2ss for sixty days. |
Posted rates, s93i9G4s 81; and sissjsd4s7. |
Commercial bills. sislz- Silver certificates
'or 1000 ounces, 5s4s; bar silver. 5si.;
Mexican dollars, 4sl4. Silver certificates, |
.s1s 05slsc.
BANK STATEMENT.
New York, Dec. 1.-THE weekly bank /
statement shows the following changes:
Surplus reserve, decrease S.2S.5e5; bans.
Increase ss.ssl, 30: specie decrease ssoe. 600;
egal tenders. decrease s4O2 800; deposits, /
Increase S.ss1. so: circulation. decrease
81 500 The banks now hold SIS. So Is In
excess OF the requirements Of the 25 per
,ent rule
TREASURY STATEMENT.
Washing gton, Dec. n-Today's statement
u the condition OF the treasury shows:
Available cash balance, 81, ,s34.I3o; gold
'eserve, SIS. .Ts.2i2
EXPORTS AND IMPORTS.
New York, Dec. 1.-THE exports OF s,e-
.ie from The port OF New York for tbe /
week amounted to se1.3l5. In gold, and sses.-