The Wichita daily eagle., 1897-12-25
STOCKS AND BONDS
LOCAL STREET RAILWAYS RETAIN
THEIR PROMINENCE

Third Avanue Adds = Points to It's Price
or 2s Points For the Week, and Metro
poiitan and Manhattan Extend Their
Advances to 8 e and 5 I-2 Respect
lively for the Same Period-lnduerceo of
These Filters ThroaEh the List Tor
Substantial Set Gains-Bsnk Statement
Operates as q Check.
New York, Dec 4.-The l5cal street
railway shares, which have b=en suca
notable feature in the market all the
week, opened with further bounds this
morning. Third Avenue added points
to its price. making q gain OF q points
also extended in Metropolitan 70 9 L.
and in Manhattan 10 51-2. The buoy
ancy in these speciaffties spread through
the list, reaching first the securities of
other local corporations then industrial
speciaities generally and finally the rail-
way list. The prices in the induStrials
and in the grangers were at one time
from / 10 points above last nights
close. The nigh point was not fully
maintained art the close in the general
list but substantial net gains are the
rude. During the afternoon the market
took on distnctiveiy holiday charac
to- and fell at times, prices yielding
sharply but being restored by the final
stiffening in Metropolitan Stree. Rail
way and Third Avenue. There was no
particular news to account for the
movement in prices, though the bank
statement, with its further decrease OF
over si.0o0, 900 in the surplus reserve. mad
the effect Of checking the activity in the
market for the time being. IN fact the
market did not take On the same ami
nation again during the remainder OF
the day, even when the announcement
was made Of the engagement for ship
ment from England by romorrow's
steamer of $500, 600 IN gold. The bank
statement was about what was expect
ed and referred 70 portion OF last
weeks Union Pacific operations not in
cluied in last weeks statement. The
balance OF over s9,000,000 in today's
clearing house statement undoubtedly
reflects operations in connection with
Mondays payment of $500, 600 On ac-
COURT of the Union Pacific sale. The
days shipment OF gold. while it indi-
Gates certain relief available in case OF
undue stringency in the local money
market, also indicates the belief that
the present hardness of money rates is
likely to endure for considerable time
without relief. 1t has come 10 be gen
orally recognized that large imports OF
gold will be necessary to settle our ex-
isting trade balance with Europe, as the
expected import movement of merchan-
disc does not develop. But the present
hardness of money here, IT was sup
posed, would be of short duration and
would thus defer the gold movement as
long as nigh rates continue TO prevail in
London and Berlin. There was expecta-
ton after today's engagement was an
1ounced that there would De further gold
importation next week.
The total sales Of stocks today were
2S3, 400 shares.
BONDS.
The bond market mas been much more
quiet this week than for some time and
prices are little changed.
The government bonds have been weak
the new fours coupon are off l Is; do
registered /; old fours registered 1-2 and
the fives Is per cent.
Government bonds today: New fours
registered and coupon f2s 1-2; fours 112
-: coupon ia "a; seconds 90 1-2: fives
registered and coupon n41-4; Pacific
skies OF '98. 102 5-S.
FOREIGN STOCKS.
New York, Dec. 24.-The Evening
Posts financial cablegram:
THE stock markets here were quiet
but good today. Americans were strong,
being bought by New York and the con-
tinent. Northern Pacific, ST. Paul and
Louisville and Nashville, were Chiefly
favored. The mining carry-over shows
a small account and comparatively mod
crate contangoes, considering the cur
rent money rates. Money is expected
TO be dear for the general settlement
wnich will begin on Tuesday next. The
dearness OF money in India is point TO
be watchei."
LOANS AND EXCHANGE.
New York. Dec. 24.-Money on call
firm at 3Gi per cent; last loan 5, closed
: 1-2G3. Prime mercantile japer 1-2G4
per cent. Sterling exchange closed firm
er, actual business in bankers bills s4S4
1-sG1-i for demand and s4S1 1-461-2 for
SO days Posted rates S4.S2 1903 and
s4S5G6; commercial bills s4S0G1-2. Sill
yer certificates 5z1-2G5S 1-2. Bar silver
81 "A. Mexican dollars A. IS.
GOLD IMPORTS.
New York. Dec 2f-HeideIoach. lex
leneimer & Co. announce that they have
$500. 900 in gold leaving London tomor-
row consigned 10 them
SILVER EXPORTS.
New York, Dec. 2f-Tae steamship Lu-
cania which leaves for Europe tomorrow
will take se5, ,00a ounces Of silver and 25.-
oo5 Mexican dollars. The NoTman5ie
VIII take 10000 ounces .: silver.
THE BANK STATEMENT.
New York. Dac. 24.-Tle weekly bank
statement shows the folio wing changes:
Surplus reserve decrease 81. e02. 500; loans
increase 1927. 600; specie increase S,3s.-
700; legal tenders decrease SASS. .06e:
deposits decrease s75S.soo: circulation
decrease 81, 500. The banks now hold
s., .5eS. .45e n excess Of tae requirements
D. ne % per cent rule.