The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-27


Cover and Prices go up With a Rush all
Along the L'ne-The TransyaaI Busbear
Weeks Review.
New York, Feb. BIN the last hour and
| q half Of trading today the stock exchange
threw of the lethaargy that has been its
| Characteristic for many days past, and
awakened to lively activity, IN which the
volume of trade was large and the prices
| advanced sharply throughout the list. The
pardon by Spain OF Julio Sanguilly, the
American citizen confined in Cuba, and the
consequent practical abandonment by the
United States senate of its peremptory res
| olution demanding the release of Sangu.ily.
was the main stimulating cause of tn &C.
hvity in the market. The announce 2;
I" the Associated Press that King George
OF Greece had intimated his intention TO
conform 10 the demands of the powers with
regard to Crete was also a contributory
cause. The relief afforded TO the market
| by the removal of these impending shadows
on values seemed to let loose a flood of bull
ltsh sentiment which has been latent IN
the minds of traders for some time past.
The shorts were driven TO cover and prices
went up with rush on quite large trans
actions along the whole line. The market
opened with a tendency to higher prices re-
fiected from the London market and on the
published news Of Sanguilly's pardon The
prices continued firm all day, but there was
very languid interest in the market, trans
actions being restricted apparently to await
| the course OF the senate on the Cuban
question. After noon buying was noted
from Washington and the announcement
of the news soon afterwards that the San
gully resolution would not be pushed.
brought on the active buying movement
The trading was marked by a strong and
confident tone due TO the encouragement
felt over the Improvement in railway earn
inSs for the third week in February and
over the generally favorable outlook for
business. The improvement in railway earn
ings for the third week seems to extend to
all parts of the country and to every
group OF properties. Although today's I'M
provement was general throughout the list
the industrials, as usual, absorbed the ma
Jor-ty Of attention and enjoyed the largest
advances. Sugar and Leather preferred
rose 2ss per cent, and Tobacco l per cent.
Consolidated Gas was conspicuous for a
rise of Si2 points on conviction that legis-
lation harmful to the value OF the property
was likely to be enacted at Albany. Chica-
go Gas also advanced IL per cent, and
Bay State Gas rs per cent. Noteworthy
advances in other shares were: Manhat-
tan. IA per cent, and Leather preferred
Pullman and Tenness Coal and Iron, u.
per cent. The railway list enjoyed its pro-
portion OF the advance, the graaRers averag
ing point to a point and half. Bur-
hngton getting IL per cent, St. Paul 1k
per cent and st. Paul and Omaha and Rock
Island per cent. New Jersey Central was
bid UP Pa per cent on removal of appre-
hension as to its finances. Lake Shore sec
ond scored rise of 2ls per cent, to $50
per cent the highest on record for the
stock. Commission house buying was uuitee
a notable feature during the rise in the
afternoon. indicating some awakening of
business in tine market Hooking Valley
stock fuctuated within a narrow limit on
surmises regarding the form of the plan of
reorganiza ton.
The total sales OF stocks today were ISL
7o5 shares including: American Tobacco,
500; American Sugar. $500; Burlington,
10, 400; Consolidated Gas, 800; Chicago Gas,
500: Louisville and Nashville 800; Man
haitian. 3.1O0 Nortnen Pacific preferred, s.
The bond market responded steadily to
the favorable influence affecting the stock
speculation, but the gains usually were less
pronounced and confined to the better
grade issues. The foreigners took moderate
amounts of the speculative leins, in which
more activity developed than for some time.
The Hooking Valley mortgages fuctuated
notably, the SIS advancing to 7224 per cent
and receded TO II per cent and the 6s ris-
ing az per cent to 60 per cent and reacting
to IS per cent. The sales were s1,67S.OoO.
Government bonds were in moderate re-
quest and stiffened slightly on purchases
of Sli7,OOo
FOREIGN STOCK MARKETS.
New York, Feb. 26.-The Evening Posts
London financial cablegram says:
''The stock markets today were general
" faily steady on European politics. That
was not the case with Kaff:rs, however
which were absolutely unstable. The finan
cial position as cabled yesterday threatens
several failures on the stock exchange soon |
and finaEcers here really regard Transvaal |
politics are more serious than European {
Americans were Efeless, /
with no prospect o. an active business I'M
til politics are clearer. The demand for /
gold is a trifle less keen. French exchange |!
is weak, as result OF recent sales of Sc |
ourities by Paris to London. but the puo- |
tations remain unchanged. No effect was I
produced on the continental discount mar |
ket by the reduction in the German bank /
rate The aPris and Berlin markets were /
steady 10 firm
LOANS AND EXCHANGE
New York. Feb. 2e-Moaey on call easy |
at 1i@a2 per cent; last loan la per cent; |
closed offered at 1i4q2 per cent; prime mer /
camille paper 3d4 per cent; sterling eX- |
change firm, with actual business in bank !
ers bills at SSG4S7it for demand. and 4
S. s5ai. for sixty days; posted rates $i-SjzG /
i.s5 and S4S7i@G4SS; commercial bills ASl4; !
silver certificates ei2.G65l4; bar silver CAS-; /
Mexican dollars 50si.
TREASURY STATEMENT.
Washington. Feb. A.-Today's statement
Of the condition OF the treasury shows:
Available cash balance S2i4. 1881. gold re-
serve l.S,3IS5S2