The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-31
STOCKS AND BONDS
MARKET HAS REFERENCE TO AP-
PR0AOHING HOLIDAYS.

Both as Mere Holidays, In General, and
Particularly to Tuesday as Election
Day Wherein "DoIlar Gas" Might Get q
Boom That 1t Were Well to Look Out
For-Money Situation Analysed, Both
as to Its Bearing on Stock Values and
Upon the General Business situation
What Union Pacific Has Been Doing
New York, Oct. 3o.-There was little &C.
uvtty and small variation in prices on the
stock exchange today except in few spe-
cial cases. Consolidated Gas was the con-
Ep:cuous feature, with break of points,
20 1874 per cent. The stock fell several
points between sales, on dealings in single
lots Of a hundred shares. The last sale
was at rally OF 3 points. Consolidated
Cat at 1ei per cent shows a fall of z71z
points from the price on September I6.
on which day It sold az 2411z per cent To-
days slump was effected by the bears with
the purpose Of uncovertng stop-loss orders.
They argued that the result of Tuesdays
municipal election might be an organized
agitation for dollar gas" Union Pacific
was heavy throughout rumors that the
foreclosure sale Of the property might be
enjoined. The stock was over q point off
at one time, but rallied q per cent. Bur
iington alone OF The list was traded In TO
the extent OF more than 10000 shares. It
was strong on favorable crop reports from
along its lines. The total sales Of all stocks
were little more than 100000 shares. The
strength of the market generally was due
TO the closing up of contracts for the in
tervening holidays, which virtually extend
ocer TO next Wednesday. as Mondays trap
sacticns are expected 70 be insignificant,
pending the results OF the elections and on
account OF Monday being bank holiday
In London.
THE MONEY SITUATION.
The substantial increase in loans Of S.
rs, rs shown in the days bank statement
is the frst increase shown since the state
ment Of September Is. The contraction
IN loaps from that date up to October 3
was 81, s3S, 800, made necessary by ne
sharp demand from the interior for me- ~.
Although there has been an active move
ment OF currency from this center 10 st.
Louis during the week, to move the cot
ton crop the net movement has been this
way, and that interior banks have more
money than ia needed is shown in the
item of deposits, which have increaS
sSS74,O0o, representing in part the surplus
fund of interior banks. The bidding for
mercantile paper has continued very active
all week.
UNION PACIFIC.
Union Pacific has also been the over
Swallowing influence in the stock market,
which has otherwise been exceedingly mar
row and entirely professional Some con-
fusion has seemed to exist in the minds of
holders of Union Pacific securities at times
as 70 the effect Of developments at Wash
ington on Their interests. But the weeks
net results show that they consider them
selves substantially worse off than they
we're last Saturday. The stock fell AZ per
cent on Monday on the governments an
nounced intention TO postpone the fore
closure sale. 1t being feared that the
whole plan OF reorganization was threaten
ed, the reorganization committee an
nounced that 1t would bid the full amount
Of the governments claim on the main
line, that allotnents made under the plan
20 Kansas Pacific security holders would
remain reserved for the reorganization Of
the Kansas line, and that no change in
the plan Of reorganization was involved
in them. This. coupled with the announce
ment of the government that it would ac-
cept this bid on the main line, rallied the
stock.
The rise of cash wheat again TO the dol
lar mark, also has strengthened the mar
ket. The extraordinary showings of net
earnings for September of the grain-car-
rying roads were a favorable influence as
were the hopes of early frosts and the
end of yellow fever in the south.
BONDS.
In the bond market, the active issues
are lower, but only TO the extent of a frac-
ton, except as above specified. The total
sales were SS000.0G0
United States new tours, coupon, sold
at 12Slz per cent, a new high record, ana
today's bid was 1885 per cent. The reg
istered bonds OF the same issue sold for
IT'S per cent new high point, and to-
days bid was 1914 per cent. The demand
for these bonds is attributed partly to the
transfer OF holding in government secura-
ties of an early maturing period.
FOREIGN STOCK MARKETS.
New York, Oct. 20.-The Evening Posts
London financial cablegTam says:
The stock markets were quiet but firm
today. Americans were good and closed
over the parity on the belief that New
York viii make things better on Monday.
tain. The market is to repay the Bank of
England over 100000 pounds next week
On the other hand, money borrowed by the
bank on consols IS que on Thursday, and
II remains then to discover the banks
future policy towards the market The
rumors OF some millions of pounds Of gold
going into India are probably incorrect or
much exaggerated.
THE BANK STATEMENT.
New York, Oct. SO.-The weekly bank
statement shows the following changes:
Surplus reserve, increase, s., So, 100; loans,
iacrease, sees 100: specie increase. 1855 go;
legal tenders, increase, $3.50. coo; deposits.
Increase, S7,S74,000; circulation increase.
s1004O6
The banks now hold s24 "a. 500 in excess
Of the requirements Of the % per cent rule
GRAIN AND PRODUCE MARKETS