The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-20
STOCKS AND BONDS
UNDERGONE OF THE MARKET Is OF
STRENGTH THROUGHOUT.

Volume of Trading Not Large and the Mar
ket Dull in spots, But the Signs of Bull
Ascendsncy Are UnmIstakeabie-Puii-
mans Death Causes q Break In Pullman
Shares But These show Little Change
After All Is Told-London Remains a
Good Buyer on This side-Exchange
Market Firmer-Monsy Market Easy
New York, Oct. 19-The undertone Of to-
days market was one OF strength through
out. The volume of transactions was not
large. and there were prolonged periods
Of dullness when trading was practically
stagnant. but the operations of import
ant interests which were prominent in the
late bull market were manifest The tone
Of yesterdays market had apparently de-
termined large professional operators to IN
dertake movement for a rise today. The
break in the price OF Pullman, due to the
news of,the death of the head Of the COM
pany, halted the operations OF this ele-
ment for a time, but the firmness Of the
general list in face OF the break in Pull
man and Unmarked weakness in Chicago
Gas, and the strong support which was
offered the Pullman stock, encouraged the
bull operators TO renew their campaign in
an aggressive way later in the afternoon.
The result was that the shorts were driv-
en- to cover and prices throughout the list
mounted strongly upward to point mate
rally above last nights close. The bears
had made the most of the sympathetic ef-
feet produced by the opening weakness in
Pullman, but the moderate decline effect
in the general list failed to bring any heavy
liquidation or to disodge any great
amount Of stop-loss orders The manifest
firmness of prices discouraged them, and
their rush to cover at the close was prectp-
itate. The strength of the market devel-
oped first in the Vanderbilts Michigan
Central was the sensational feature in the
grup, with a jump of SIS per cent, but
nearly all Of these properties. including
Northwest and Omaha were quite buoy
ant, and closed with net gains of to 2
points. Sugar and Chicago Gas ranged
over nearly points, and the covering or
shorts an these stocks on the rise was an
important element in the strength of the
market Dealings in Pullman were on a
very large scale, and over a range of 7s.
OF this movement, ii is to be considered
that the stock jumped yesterday 3& per
cent on small transaction such as often
affects investment stocks. The close to-
night Is only Y per cent below the price
ruling before yesterdays sale. All the news
of the day continued favorable, railroad
earnings continuing to show Improvement
Louisville was a notable exception, with
a decrease in earnings OF 81, 100 for the sec
ond week in October, due to continued in
terruption by yellow fever quarantine. The
adjustment Of passenger rates by some OF
the western railroad lines removed a re-
cent cause Of apprehension. London con-
tinued to be good buyer in the New
York market, and, in fact, offered the
support during the early trading.
The exchange market showed a distinct
lively frmer tendency, though the only an
nouncement of gold from Europe was of
the withdrawal for shipment TO the Uni
ted States of 5000 pounds sterling In gold
from the Bank of England. Gold, how
ever, is in transit from Australia to San
Francisco. The local money market con-
t-nued easy, and outside banks continued
to take large amount of commercial pa
per in this market. Outside of the cases
above named, special strength was shown
the Ice stocks, Missouri Pacific, Oregon |
Navigation. Pittsbu-g. Cincinnati, Chicago |
and st. Louis, St Joseph and Grand Island |
first preferred. and Leather preferred.
Total sales of stocks today were 2S1, 800 |
shares.
BONDS.
n feature OF the bond market was the |
sale Of two blocks of $4,000 and 1O0. 900 re- |
spectively OF Union Pacific collateral SKIES |
Al unchanged prices. Dealings in bonds |
were not on a large scale, but prices gen.
orally showed Improvement The total |
sales were 81 10000.
United States new fours. registered, ad- |
vanced Is per cent bid. and the fives de- |
,lined Il per cent. New tours, registered. |
26; coupon. 127; tours, 112i2; coupon, Il31k; |
wos. eS12; fives, registered, Ia; moupon,
l5l4; Pacific skies of '9S, 1G2A.
FOREIGN STOCK MARKETS.
New York, Oct. 19-The Evening Posts |
London financial cablesram says:
THE stock markets were dull today, ex-
,ept Americans. which were better on the
New York lead, but transactions were
lew.
'@Today's sales by the Bank OF England |
II American eagles, attracts attention, the
though small. being the first |
ince the price OF eagles was raised.
The Paris bourse was better after dull
less and the Berlin market was quiet"
London. Oct. 19.-Of the 135,oD0 pounds
terling in bullion withdrawn from the
Sank Of England today. 5000 pounds was
n American eagles.
LOANS AND EXCHANGE.
New York, Oct. 19.-Noney on call easy
L 2d2i3 per cent; last loan. ~ per cent.
losed 2b.Q21, per cent; prime mercantile
'sper, 4Gf1 per cent. Sterling exchange |
lrm, with actual business In bankers bills
I $.Sp3 for demand. and at s4S2L for 50
avs; posted rates 81. S2I1a@4 s311 and saS5J1:
commercial bills, S4N. Silver certificates |
sac; Mexican dollars, 44s.c