The Wichita daily eagle., 1897-12-11
STOCKS AND BONDS
THURSDAYS CAMPAIGN OF BULL
VERSUS BEAR CONTINUES.

Earlier Operstions to the Advantage of
the Bulls. Sugar Leading IN Advance.
Manhattan and the Coaiers on Offers ,o
Realize, and Involving the Ent ire List
Northern Pacific Dividend Disturbing
Factor General Result of the Day
Fractional Net Losses
New York, Dec. 1o.-Todav,s stuck mar
ket was renewal of the contest between
the reactonists and combined interests
which have embarked on a bull campaign.
The bears were encouraged by the evident
stress under which the bulls laborsd yes-
teroay IN trying to sustain values at weak
points and were prepared for vigorous
measures to break the market. Although
tney had the advantage at the outset of
lower quotations from London, the earliest
oeals here showed advances, Sugar lead
lng' But that stock, together with Manhar-
tan and the coalers, was soon weakened
oy liberal offerings TO realize and the re-
acton soon attacked the whole list There
were very heavy dealings in Northern Pa
CHIC preferred, which has been sharply ad-
Fanced recently on rumors of liberal div
ioend to be declared today. The action on
Inc oevidenc was timed for about the hour
oL closing the market and the street was
kept busy al day with contradictory ru,
Hors on the subject. One of these had
II tnat action on the dividend would be
postponed altogether and the resulting de-
cine in the stock uncovered stop-loss or
ders- Covering Of shorts in the final deal
ings and early Information Of the decision
OF the directors to disburse the first divI-
oend OF per cent caused a rally Of nearly
point in the stock but left a net loss Of
sharp fraction. The bears made vigorous
attacks on al Of the stocks Of the local
corporations which have been recentiy ad-
Vanced, the transit companies on talk that
Underground rapid transit plan was about
10 faI and the gas companies on alleged
assurances OF political favor.tisn. These
stocks all reacted from over point and
up 70 points. The stocks of the trans,
companies recovered partly on the post
pcnement Of a decision on the undereround
plan. The break in this group, however.
broke the market and precipitated declines
ell through the list. Many leading stocks
lost ! point or over, and some as much
as points. The covering Of shorts at the
close and the rally in local transit stocks
reduced the net losses in most cases to
fractions. The stocks of southern and
southwestern railroads were comparatively
firm and show the smallest losses. Union
Pacific showed a tendency to rally, though
Il weakened somewhat later upon a denial
OF the story that the reorganization COM
nittee has offered the government the full
amount Of principal of its claim for set
tlement Of the Kansas Pacific controver-
sy- Business through commission houses
showed a large falling off today, and safe.
fof London account continued on kuite a
large scale. The general news OF the day
and statement OF railroad earnings. which
were favorable, were disregarded and the
course. Of the market was due almost en-
arely to the contest between professional
traders. !
The total sales Of stocks today were s4s,-
800 shares.
BONDS.
The feature Of tho bond market was the /
decline Of points In the Kansas Pacific, !
consols. due to the apprehension that the /
possible purchase of the property by the /
government may debar the holders from !
a share IN the Onion Pacific reorganization |
plan. The demand for h.gh-grade bonds |
continued good, and a number OF gains 4
from 1 TO per cent was shown. The spec /
ula tive bonds reacted somewhat in synpa-
thy with stocks. The total sales were s3,-
i50. 600
United States old tours, registered. ad- 1
vanced today .: per cent bid and the f1ves |
a per cent bid. New fours, registered and I
coupon. 12e; fours, 1125s; coupon, 49,: two. 1
70; fives. registered and coupon, 1I4Iz; Pa !
;fc skies Of '9S, 102S.
FOREIGN STOCKS.
New York. Dec 1o.-The Evening Posts |
London financial cablsgram saws:
The stock markets here were fat on /
all sorts Of vague and improbable rumors.
a feature was the sharp fall OF pound .
In Anaconda Copper. These shares are
widely held here and by the best people,
so that the fall had a marked effect on
ell the markets. kilograms from Anacon-
da mines are said to report an unfavorable
output in the last two months and that en-
gireers are coming over 10 make expiana-
tons. In the meantime I am privately in
formed that the company has completed
with its leading brokers and
dealers here TO sell an unplaoed balance
OF shares
Other mines were also fat, in sympa-
thy with the fall in Ottoman bank shares,
partly attributed to sales by that bank. un-
der the new mana cement OF shares long
held
Americans were irregular. but with a
good undertone. Louisville and Nashville
was largely bought against options Ar
gertines were q fraction easter, although |
The Rothschilds committee today was sat
isfsctory. II was decided to resume full
service OF the 1886 loan in January next.
and 70 pay deferred interest on that loan
by March. The market, however, was too
to be easily cheered to-
day"
LOANS AND ECHANGE.
New York. Dec. 1o.-Money on call easy
a. 1lzG2 per cent; last loan, per cent;
closed I%62 per cent; prime mercantile
paper, SG4 per cent. Sterling exchange,
firm. with actual business in bankers bin.
a. A-sSas for demand, and 81 seszsa4 Se% for
SIXTY days; posted rates. s4SsIzsf4s4 ard
81 s.; commercial bills, Ss1&.. Silver
certificates. ssisGss14; bar silver. IS; Mex
lcan dollars, 4Sl..
BRADSTREET'S REVIEW.
New York, Dec. 10-Bradstreet's inan-
ciai review tomorrow viii say:
Public interest in speculation has in
'aseC 10 some extent but the activity
and strength OF this weeks market were
again largely due to professional manip-
nlstion. The presidents message, more
particularly the part relating 10 Cuba wa.
'avorably received by the street. and II
* apparently conceded that the danger
of unsettEng agitation OF the Cuban cues
Geo r Barse. Pres. H wasse, sec-Treas.