The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-26

Expected Developments at Madrid; New
York Central Suffers From the Accident
on the Hudson, and, Above All, the
Hitch In the Union Pacific Foreclosure
Proceedings, are Important Factors
Net Declines in Active Stocks of One to
Two Points-Bonds in sympathy.
| New York, Oct. 25.-The conviction that
| d rupture in our relations with Spain will
| ultimately result from the Cuban ques-
| ton, the danger that the Union Pacific re-
organization plan VIII be upset by the gov
ernment's desire to postpone the sale and
the weakness in New York Central due
| to yesterdays disaster on its line, COM
b:ned TO break the stock market today
and demoralized prices throughout the
list. The lower prices for American securi-
ties in London and the decline in the price
of SPANS tours there OF Il per cent, TO
597s per cent, were accepted as a measure
of the apprehension felt there as TO the
harm that would be done values by the
threatened rupture. The opening showed
and the specialties and by noon losses of
point or over had spread to practically
every active stock in the list. There was
lull in the activity Of the liquidation, and
al that time a steadying of prices based
on a hope that the supreme court would
hand down a favorable decision in the Ne
braska maximum freight rate case and
that prices of railway property would tend
to improve as a result.
A sharp rally in Chicago Gas on the an
nouncement of the declaration of the reg
ular dividend helped steady the list. The
announcement of the governments decis-
ion for poStponement of the foreclosure
sale of the Union Pacific and aKnsas Pa
cific properties brought out enormous hq-
dation of Union Pacific stocks. There was
no check apparent in the liquidation or
in the fall in price as result of the an
nouncement of the reorganization commit
tee that it intended bidding in the Union
Pacific main line, If need be, for the full
amount of the governments claim. This
would involve an increase of s, 000, 900 over
the latest upset price which the syndicate
agreed to insure the government, and OF
over Si2,0O0,OO0 over the fixed price at the
time the present reorganization plan was
agreed upon. The purpose of the re-organ-
ization committee to divide the re-organi-
Zation OF the Mon Pacific main line and
the Kansas Pacific into two operations
failed to quiet the doubts of those who
have speculated in Union Pacific on the
basis Of the Hunt reorganization plan.
The apparent intention of the government
to relegate the whole matter to congress
awakens fears amongst holders OF the
shares that delay will attend completion
of the reorganization. The government
second mortgage on the Kansas Pacific
for about coo is unprovided for and
the reorganization committee takes the
stand that the government Will be allowed
to bid the property IN If 1t is not willing
70 falrn ha ~ If +ba Nkn
fear that this would endanger the plan of
reorganization evidently augmented the
selling. The sales of the stock constituted
one-eighth of the total transactions of the
day. The days net declines in all the ac-
tive stocks ran from l per cent TO over
> per cent, and in Consolidated Gas reach
ed 512 per cent. The Vanderbilts were con-
spicuously weak.
A sharp advance of IS per cent in the
actual rates for demand sterling exchange
was a feature of the day and was re1ec-
ton of the rising rte of discount in Lon
don and of the discounting of accumulat-
ing sterling bills here.
The sales Of stocks today were sss, 3os
shares.
Railroad bonds were in sympathy with |
stocks. Total sales were s1,e10,0oo
United States new tours and the fves, |
registered, were advanced Il per cent; /
New tours, registered 1865, coupon, 1277s; |
fours, registered, 112%4; coupon, 113A; twos. |
80; fives, registered, 1l4i5; coupon, 1154; |
Pacific skies of '9S. 1925.
FOREIGN STOCK MARKETS.
London, Oct. 25.-The stock market for |
American securities opened and remained !
so all day on bulls lquidating. The close |
was easy with moderate demand.
New York, Oct 3-The Evening Posts |
London financial cahlegTam says:
The stock markets We're dull 10 fiat to- |
day. Americans were especially weak. |
considerations, the nearness of |
the settlement and the Cuban question |
being given as reasons for the weakness;
but there is no doubt that the fact that
a number of options will fall due a the |
end ofthemonth induces dealers to keep
down prices.
at is not likely that the Bank OF Eng
and's discount rate viii advance this week
but the German rate may possibly go
up. The average contango on Americans
at the settlement tomorrow will probably
be AZ per cent.
The Paris and Berlin markets We're
weak all day, Paris baing a large seller
IF Kaffirs.''
London, Oct. S.-Consols for money.
IL 5-16 per cent; for the account, Ill ZIG
per cent.
London, Oct 25.-The amount of gold
gone into the Bank of England on balance
oday was 100000 pounds.
LOANS AND EXCHANGE.
New York Oct. 25.-Money on call NOM
nally per cent. Urine mercantile paper,
tGHz per cent. Sterling exchange strong
md feverish, with actual business in bank
RS bills at G.S5Ga.S1& for demand and
4. Ssis "A. S2ls for sixty days. Posted rates.
4SSa4 S3ls and $4S6d4S5i2 Commercial
ILLS. S4Sl9 Silver certificates. 57I2G59.
Bar silver, IS Mexican dollars. 10.
GOLD FROM AUSTRALIA
Sydney, y. s. W. Oct. 25.-The steamer
.Iariposa, Captain Hayward, which sailed
rom this port today for San Francisco.
axes 275,0c0 sovereigns TO the United
states.
TREASURY STATEMENT.
Washington, Oct. 25.-Today's statement
Z the condition Of the treasury shows:
Available cash balance, s211, 2S5. 5S5; gold