The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-12-04

Large operators HfOmtueut 6aHsy ="
the Week Are Lying Low for Chances
to Pick Up Good Things-suSar Active
and Behaves FeverishIy, Taking Up a
Large Portion of the Trading-LondoD
Seller on This Side - Manhattan's
/ Late Spurt-week's Review.
New York Dec. 3-Outside buyers had
Withdrawn from the market today and the
field was apparently left to lie fallow by
the large operators who have been prom
inent in the manfpulative movements Of
the week. The heavy throwing over Of
stocks by large operators yesterday to
realize and by others later TO save losses
has well discouraged the outside public.
The bears were in evidence from time to
time, but their offerings seemed to be well
absorbed without effecting any marked de-
clines. There was no evidence of any ef-
fort to mark up prices. The action of the
market suggests that the operators may
be attempting to pick up a line of stocks
at the decline of prices again, with the
purpose to realize while the public Is still
buying, as was done on Monday and again
all day and acted in a very feverish man.
ner. This was partly due TO realizing on
stock bought in anticipation of the treas
ury's decision 10 apply the countervailing
duty on sugar imports from the Neither
lands and partly TO confusion of mind as
to how far the dfferential on refined sugar
would inure to the benefit of the Sugar
company. A large portion of the specula-
uyaS "a with ia ctr ND rha
offerings and the weakness increased as
the day progressed Union Pacific mani
tested some weakness at times on account
of the firmly expressed intention of the
government to qualify as a bidder at the
Kansas Pacific sale so as to protect its in
terests. if necessary. by bidding in the
property. Denials wer also offered on be-
half Of the reorganization committee that
any agreement had been arrived at with
the government for acquiring the subs.-
died portion Of the line in Kansas. There
was good support apparent for the stock,
notwithstanding this published news, and
the Kansas Pacific consol skies trust re-
cepts were also steadily held The wide
and the irregular movement Of some spe-
cial stocks kept the general LIST very much
unsettled during the day and II was diff
cult to discern any marked general tend
ency in the tradink. London was again
a seller of stocks In this market to some
extent. There was little general news bear
ing on the situation and the movement of
prices was due almost entirely to the tech
meal causes. The fourth weeks state
ment of st. Paul and other roads and the
estimated gross earnings Of Rock Island
for November were regarded as favorable
but had little effect on the market The
late squirt of Manhattan to -05 per cent,
a net rise of 8 points. st:ffened prices and
brought many of them above yesterdays
closing level Otherwise losses would have
predominated. The rise in Manhattan was
due to a false rumo- that the underground
rapid transit plan had been declared I'M
constitutional.
The total sales of stocks today were 3d.
600 shares.
BONDS
The business in bonds was somewhat cur
tailed, but still large. Prices held firm.
The total sales were s2.5so,0oo.
There was net advance in the bid price
of United States twos of Y per cent. and
of the new fours of Il per cent New fours.
registered and coupon. 1ss%; fours. 1924;
coupon. 1141s; twos. go; f1ves. registered.
and coupon, 114l4: Pacific skies of '9S, 1885.
FOREIGN STOCK MARKETS.
New York, Dec. 3.-The Evening Posts
London financial cablegram says:
The stock markets here were stagnant
and irregular today. English rails were
good during the day on better reports from
the strike, but the close was uncertain on
a report that the engineering employers
are to submit an ultimatum to the men,
which, 1t IS feared, may he refused.
Americans opened rather dull, on steady
prices, and showed considerable backbone.
The continued absorption Of bonds by New
York is almost phenomenal South Amer
lean stocks recovered yesterdays fall.
The market today had 10 pay for $780,
600 pounds of India bills, thus causing
rise in short money rates and fresh Dor
believed that the bank has temporarily &C
raised. Gold is rs 111kd.
''Today's sharp rise in the Berlin and
Hamburg discount markets surprised Lon
don. 1t comes unusually early In the
month
THE Paris bourse was firm on the Bury
ing of international stocks and mines The
Berlin market was quiet
Paris, Dec. S-Thers was an all-around
rising tendency on the bourse today, but
the dealings were small
Berlin, Dec. 3-Prices on the bourse were
easier today. Canadian Pacific securities
were weak on realizadons Northern Pa
cific securities were well maintained
Frankfort, Dec. 3-Business on the stock
exchange today was dull. especially in the
case OF International securities. American
securities were steady.
LOANS AND EXCHANGE.
New York, Dec. 3-Money on call easy
at lIsT2 per cent; last loan, per cent:
closed 1S4GS per cent; prime mercantile pa
per. $685. per cent. Sterling exchange,
easy. with actual business in bankers bills
at A.S52. for demand and at S4sSai. SSls for
sixty days; posted rates, S4.S4Q4.s7: CON-
mercial bills, $is2I5. Silver certificates,
59izdeo1l; bar silver, 59ss: Mexican dollars,
.67s
BRADSTREETS REVIEW.
New York. Dec. 3-Bradstreets financial
review tomorrow viii say:
A much more active and al times a de-
cidedly strong speculation has been seen
this week The market has been apparent
ly under bull leadership of powerful char
acter. and while the outstanding short in
terest was forced 10 cover. a considerable
volume OF fresh outside buying was at
tracted by tht movement. Though COM
mission houses were more prominent in
the transactions than for some time past.
the general opinion of the street credit
ed the report to leading operators, who
found that stocks had passed into strong
hands and did not come out under manip-
ulstive pressure, there being at the same
time a considerable short interest in some
portions Of the list Circumstances also
favored buihsh demon s1rstion. al tbs
time. the belief that the presidents mes
sage would take grounds as 10 both Cuba
and the currency satisfactory TO financial
and business interests being a factor Of