The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-04

Attract Attention, Especially Union
Pxcifc-Recovery in Northern Pacific
Frisco Securities Get the Benefit of Re-
organization Activity = Unavaiiing
Efforts Against Sugar and St. Paul
Governments Lower
New York, Feb. 2.---Today's dealings
| on The stock exchange were of moderate
/ volume, our showed a broadening tend
ency and there was net gain Of a frac-
| ton generally throughout the list. The
lower priced stocks attracted special at
| tention, this being particularly true of
Union Pacific, which was bid up rs per
cent on active trading by professionals.
| Activity IN Union Pacific was due to
! belief among traders that the property
was in some way, the beneficiary OF the
| operations in Northern Pacific, which
| have attracted the largest share of the
| attention Of the market for some days.
| The range of influences concerned in
! these operations is not definitely known
| bat the reports that Northern Pacific
| and Great Northern and Union Pacific
were jointly endeavoring to acquire an
| Navigation company, though without eX-
plicit authority, was the impelilng motive
| for the interest in Union Pacific, which
led the railway list in point of activity
with sales of 1920 shares, closing at an
advance of point. Northern Pacific re-
covered from the prcft-taking OF yes
terday, became firm and advanced Il
per cent on The day. Oregon Railway and
Navigation also gained point on ac-
count Of the same reports, but lost the
advantage before the close. The usual
ly inactive St Louis and San Francis
co securities were prominent and scored
net gain OF iia cent on the first and
second preferred stock. supposed to be
due to activity by the reorganization in
terests of the road. The dealings in the
above named properties contributed TO
the firmness Of the market, which was
aided by the advance in some leading
shares. notably Burlington and the an
thracite coalers, which gained a substan
tial fraction. The efforts OF the bears
against a few properties proved of no
avail against the general market These
efforts were directed, at the opening of
the market. against Sugar, which sold
down IL per cent on Washington ru-
mors of proposed changes in the differen-
tial tariff on refined sugar, which would
affect the protection of the staple. The
stock subsequently displayed strength,
however, on inquiry from short interests
and recovered a point The efforts to
depress ST. Paul on account of the de-
creased earnings for the last week Of
December also proved unavaiing. The
fall of 3A per cent, TO 81 per cent, IN
Long Island, was unacountable' unless
j saly ofE ot. na 70
cent rise in the stock New York. New
Haven and Hartford gained an addition
al IL per cent over its extreme decline
of II points yesterday. Leather prefer
red was pressed for sale in the late trad
ing and receded a point from the high
level. but without effect on the general
market. Manhattan suffered from Ii
quidation of speculative holdings. The
market exhibited increased activity to-
ward the close, with final prices general
ly the best.
The total sales Of stocks today were:
121 9S7 shares, including: American SUI
gar, 34,0O: Burlington 7.30; Northern Pa
cific. $50; ST. Paul. $500.
The upward movement in railway
bonds was resumed today, with pur-
chase by the foreign interests again the
feature. The low-priced issues were the
leaders in point OF animation and
strength, with some of the recently re-
organized properties looming into prom
inence. The sales were S2,42, coo.
Governments were weak and slightly
lower on sales OF $4,000
FOREIGN STOCK MARKETS.
New York, Feb. S.-The Evening Posts
London financial cablegram says:
Except for Americans the tone Of the
stock market was generally good. con-
soils leading a rise of IL on anticipation
of a reduced bank rate tomorrow. Ar
sentines gave way. Holders of Ameri-
cans were discouraged by the lack of
support in New York. but the close was
a trifie better. Mines were rather good
and copper shares were strong. Apart
from South African policies. the general
outlook is good. The Paris and Berlin
markets were firm.
London. Feb. S.-Money, l per cent
The rate of discount in the open mar
ket for short and three months bills is
l 1916 per cent. Gold is quoted at Bu-
enos Ayres today at 50; Lisbon 42la;
Rome. 104.e0.
Paris. Feb. 3-Three per cent rentes
100 francs 17Is centi1nes for account: ex-
change on London % francs 10 confines
for checks.
Berlin, Feb. 3-Exchange on London
eight days sight 20 marks Al prenniss.
LOANS AND EXCHANGE.
New York. Feb. 3.-Money on call easy
at 11k62 per cent; last loan, IL per
cent, close offered at 1-2d2 per cent.
Prime mercantile paper SG4 per cent;
sterling exchange weak with actual bus
mess in bankers bills at sz.s6 IL for de-
mand and s4S4 1-464-s4 1-2 for sixty
DAYS; posted rates s4.S5dAS515 and 4.s7
64S. Commercial bills s4.s3A. Silver GER
tificates 64TsG651z; bar silver 6i24-
BANK CLEARINGS.
New York. Feb. 3.--CleaTings, s11o,-
565.544: balances, s7.S4.619.
Boston-Clearings sls,16S,142; balanc-
es. s.. 094 eos.
MISUNDERSTANDING sl2,12e.559; bal
ances 1884, 52S.
Baltimore-Clearings s2.635.si5: balan-
ces St46,732.
S.. Louis-Clearings Si,476,145; balan-
ces. $685. Money 5d! per cent. New
York exchange par BID; % cents dis
count asked.