The Wichita daily eagle., 1897-11-18
STOCKS AND BONDS
NET DECLINES IN STOCKS EQUAL
TO TUESDAYS GAINS.

4
Traders-TotaI Sales Run Down Pretty
Low aud Declines General Throug hout
| the List-weakening Developments In
| the Granger Group-Southern and
| Help Prices
New York, Nov 17.-Net declines today
were about the same as net gains were
| yesterday in the stock market. But the
range of prices IS a little wider, as there
| was time during the daywhen they were
carried fraction above yesterdays close.
The extreme decline in some of the grang-
ers and the coalers is, therefore, something
,, over point Sugar ruled generally above
last nights close, rising at one time Il.
points, and this sustained the general mar
ket, for a time. A jump of 31l points in
Consolidated Gas was also on the side OF
sustained prices, but the eccentric move
merits of the stock have come to be prac-
tically disregarded. Both of these stocks
fell away to yesterdays level in the sub
sequent weakness. There was a lack Of
frmness in the price of St Paul, notwith-
standing the increase of over. S147, 600 in
Its earnings for the second week in No
vember. The comparison is with a poor
week last year and was considered as not
showing the recent high rate of earnings
fully sustained. The declaration of only
the regular quarterly dividend Of l per
cent on Burlington brought realizing sales
m that stock and also served to weaken
somewhat the granger group Southern
and Southwestern stocks were compare
ixFafty
statements of Missouri Pacific, Wabash
and Texas and Pacific, and on the contn-
ued heavy cotton movement in the south.
Speculation, however, was almost dead and
the dealing in speculative stocks was con-
fined almost entirely to room traders. Un-
ion Pacific was very heavy all day, and
lost ~ per cent net. This decline was cou-
pied with a rise OF nearly points in the
Kansas Pacific consol bonds.
The bond market was much more active
relatively than stocks and the high priced
investment issues were in special demand
and show gains of from / to 8 per cent
This tendency In the security market was
entirely consistent with the remarkable
ease in the money market There Is
steady current of unds towards this cen
ter, and liquidation Of loans and a very
limited demand for the money thus set
creases in loans of the New York banks
was more than accounted for by opera
tons OF the account of the Union Pacific
sale. Loans. on other accounts shwed an
actual decrease and the limited supply of
commercial paper offerings indicate that
merchants are not in need of funds at pres
ent. This Is in part due TO the easy collec-
tons all over the country and to the large
payment Of outstandin indebtedness
which have made money plentiful at inte-
rior points. But there Is some apprehen
sion that 1t may also be due to the falling
off in business activity. The ease of the
money market is so marked that there
is some talk that the Union Pacific pay
ments to the government Will be made be-
fore they become due.
The total sales of all stock fell off again
today 10 less than 10000 shares and losses
were general throughout the list. Bay
State Gas led in point of activity and was
lifted at one time Is per cent on a rumor-
ed requirement of an extensive system
Of properties. But the advance was met
with enormous offerings which drove down
the price.
The total sales Of stocks today were 1s7,-
400 shares.
In the bond market there was a sale of
flint and Pere Marquette, Port Huron di-
vision, fives at ~ points lower than the
last sale, which was several weeks ago.
Otherwise prices were firm and higher. The
total sales were 81, $50 600.
United States fours were Il per cent
higher bid. New fours. registered and cou-
pom, 127%4; fours, 112a4; coupon, 113A; sec
onds, 9Sla; fives registered and coupon,
11412; Pacific skies of '9s 102s.
NEW STOCKS TO LIST.
New oYrk. Nov. H-Application has been
made to the stock exchange to LIST s576,0oO
per cent guaranteed gold bonds of the
Southern Pacific Railroad company of Cal
ifornia.
The Union Pacific reorganization COM
mittee mas asked permission to list s44 OO0,-
900 engraved mercantile trust company pur
chase money certificates.
The amount of Omaha and ST Louis first
fours mentioned in the application to Est
on the stock exchange has been increased
from $.9J0,O00 to S1,376,OO0o.
Colorado Midland fours will hereafter be
quoted in the bond call on Change as
AL installments paid"
FOREIGN STOCK MARKETS.
London, Nov. 1.-THE market for Amer
lean securities declined somekhat but st.f-
fened later. Bears tested the market early,
but des;sted. finding very little long stock
dislodged. he tone was steady and the
demand moderate.
New York. Nov. 17.-he Evening Posts
London financial cablegram says:
''he stock markets were quiet and steady
today. Investment stocks were firm. Amer
leans we're lifeless, there being no initiative
here. and the close was weak
Many inquiries have been made today
after eagles by American houses. but it
may be only for Germany. 1t is said that
100000 pounds sterling in gold Is going 10
Chill Immediately in connection with the
completion of the currency conversion
his IS probably correct, but unusual mys-
terry surrounds the operation, no one know
ing whether the gold has yet TO leave the
Bank Of England, or whether Il has al
ready been brought up in the open mar
ket.
Money rates are easy, but learn that
the bank has begun to borrow again,
which probably means a temporary recov-
cry in rates.
The Paris and Berlin markets were
quiet"
LOANS AND ECHANGE.
New York, Nov. l7.-Money on call steady
at H. 10 per cent; last loan, per cent:
closed IL 10 ? per cent; prime mercantile
paper. S1-94Ik per cent; sterling exchange.
easy. S-S55. G4S5is for demand. and Sass.
for sixty days; posted rates 81. S3ie and
8. .SSls; commercial biHs, S.S2 Silver GER
titlcates $5SI. ds9l.c; bar silver. SsSsc; Mex
lean dollars. 45isc
TREASURY STATEMENT
Washington, Nov. T.-Todays statement
of the condition Of the treasury shows:
Available cash balance. Sao2 "a. 4l0; gold
reserve, Sl5S.043, ,oSl.
CHICAGO
The following official range OF prices on