The Wichita daily eagle., 1897-12-16

Buu9 Auvouce 20 toe Ats@Se WIN ~"
Coaiers and the Bears Onsr ResistAnes
With the Local Traction stoeks-E En'is
H.ve ALI the Best OF Il Mt First Bot
Evsntuaiiy the Loan Market Comes TO
tIis Bears Rescue-Dividends on Two
Railroads q Feature of the Day-Bonds
Firm aud Less Active
New York, Dec. I5.-Today's market was
largely professional and in the contest be-
tween the bulls and bears the former en-
listed themselves under the banner OF the
coaiers and the latter made the local trac-
ton stocks their main resource The for
tunes Of battle shifted several times during
the day and in the middle CT the afternoon
the bulls seemed to have received great
decisive advantage, the earlier marked loss
es in some special stocks having been al
mos; entirely swept out and the bears ap-
pareutiy driven to cover. In the last hour
OF trading, however, large number OF
loans were suddenly called and in re-
pltcing them the call loan rate st.ffened
sharply to per cent, at which rate a large
amount of money was placed This in
duced Equidation, especially IN stocks which
yielded a profit on the days advance The
bears thus encouraged renewed their al
tack Oh the specialties which had engross-
ed their attention all day, and uncovered
stop-loss orders on the way down AS
consequence, the tide Of battle was turned
completely and victory lay with the bears.
4 small part OF the days large gains were
left in some OF the stocks which had shown
most early strength, but in other leading
shares early gains were replaced by late
losses. The scarcity Of money IS due to
operations looking 10 the payment tomor-
row of an installment OF about S. 500 600 on
the Union Pacific sale. The previous pay
ments OF this account, amounting 10 over
SO on.c have been left on deposit IN
New York banks. but tomorrow's payment
VIII go direct into the treasury and be re-
moved from the money market Two ed-
d.tional payments Of an equal amount re-
main to be made, one on December q. and
one on January 5, and this VIII also go d.
rectly into the treasury. The payment by
rhe government on December "A. OF the
Pacific bonds, which amount 10
over s2s, ,oooc10, Will be made by checks.
on the New York deposits 10
the governments credit. The movement
Of currency continues from New York this
week, indics ing stil further decline in
New York cash reserve. The tone OF ster-
ing exchange was somewhat easier today.
but did not respond in a marked degree TO
the hardening Of the money market Time
money for the shorter periods also stiffened
apprec.ably. The early strength IN the
days stock market was aided by the rise
In the price OF coalers due to reports of
an agreement TO restrict the output next
year. The Northern Pacific stocks were
also a center OF strength. the preferred ad-
at one time 1ss points, and the
common nearly a point. Reports from
London and the European bourses showed
a good demand there for these sticks. Atch-
son preferred was also up over a point a,
one time The rise above par Of Burlington
was further feature. The special weak
ness of the local traction stocks was due 10
the threatened complication Of an under
ground system and TO the judicial decision
q, Albany holding that consent Of adjoin-
ing property holders is necessary 10 ena-
BILE the cars Of one company TO run on the
tracks of another company. The resump-
ton of the quarterly dividend of IA per
zen: on Cleveland, Cincinnati. Chicago and
81. Louis preferred after its omission for
swo quarterly periods, was a feature OF
the day. as was the per cent dividend in
Southern preferred. Sugar was traded In
sX-iiv!dend, and at one time during the
lay showed a recovery OF one-third of the
iividend, but in the later dealings it sue
>umbed quite easily and lost over two
points on the day.
The total sales OF stocks today were 49,
20 shares.
BONDS.
The bond market was firm at less active
prices and the active list was only about
steady. Some OF the high-priced tissues
howed sharp advances. Missouri Pacific
'oIlaterais lost points. Total sales were
10000.
United States new fours declined 4 per
ent bid
FOREIGN STOCKS.
New York. Dec. I5-The Evening Posts |
1ondon financial cablegram says:
The settlement has been satisfactorily |
oncluded, and the stock markets here were |
generally good today. The feature was |
he rise in English rails. on the belief that |
ne engineers strike is about settled
Americans were good and closed near the
est, although the support here IS almost
ntreiy professional s. Paul was espe-
ally bough: at the close.
'Kaffirs were animated and strong. not
bly, the deep-level shares. I an private
: informed that a large block Of shares
as been taken up by syndicate in Scot
md Western Australian mines were
uoysnt. There - a keen demand for GOLD
y Russia and India at - strong. The al
'tmenr OF Indian council drafts was all
Did and five lakhs .n addition The aIiot-
lent rates ranged up 20 Is lie pence. In
.cstiors favor demand FOR drafts for
Ome time 70 come.
Paris copper shares were s.eadier
a hinge amount was borrowed from the
aEk OF England today
LOANS AND EXCHANGE
New York. Dec. 15.-Money CT cal hr-ner
214 per cent; last loan. 81 per cent:
osed 5G3iz per cert; prime mercantile pa
sr. 3sl4 per cent Sterling exchange. easy,
9Th actual business IN banksrs' bills -
-Sl4 for demand. and a. ase&d fo- %
1ys; pasted rates 81 4s5iz04s - and sssz
4s5: commerciz: bis. = lszis. Silver Ger
Aea:ss S7izassisc; bar silver. SIC; Mexican
ollaEs. Sic
TREASURY STATEMENT
Washington, Dec is.-Todsy's Sateusn.
the colditioa % the treasury shows.
va,labis cash balance, 81 as.ssa; zold Re-
I'VE, 81. 81, "a
LIVE STOCK MARKETS