The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-28
SELLING UNDER COVER
Is a Marked Feature of the
Stock Market.
GAINS AND LOSSES MIXED
Americans Boom In London
and Close at Best.
GAINS AND LOSSES MIXED

New York, Jan. 27.-There were a num-
Der of features Of aggressive strength in
today's stock market, but there were also
evidences that the sustaining force of
these special stocks was taken advantage
of to sell out heavy lines Of other stocks
TO realize PROFITS. The center of interest
in the market continued to be New York
Central. The persistent advance in this
stock is attributed very generally in the
street to inside buying, and the reports of
pending plan for the merging of Lake
Shore and New York Central find very
general credence. All sorts Of rumors are
constantly afioat processing to give in de-
tail plans for this merging and also for
the consolidation Of various other Van
derbilt properties, but no official or au-
thoritative announcement has been made,
nor is one expected. The advance in New
York Central was twice arrested during
theday by reactions. The large absorption
of the stock which developed before the
decline had reached great length, sug-
gests the probability that the reaction
was manipulated in the interest of those
seeking to acquire the stock. Lake Shore
yielded IA points of it's extreme advance
of 2lz points before the close. It is no.
most part closed below last nights final
price. Northern Pacific preferred, Kan
sas and Texas preferred, and Rock Island
were leaders of the market, in conjunc
ton with New York Central. There were
not lacking other features of strength in
the market and the New York Transit
companies were conspicuous for a sudden
and sharp advance in the final hour But
considering the large volume of business,
the small net advance in many active spe-
culative favorites and the mixtures Of
losses on theday's business 1t must be re-
garded as probable that therewas large
taking Of profits by recent buyers. Lon
don had a large account in the local mar
ket today, and on the side of sales there
was a balance Of over 80, 200 shares. There
was no news to explain such change Of
front on the part Of the British financial
center, and It can only be accounted for by
q significant disposition to take a quick
profit on a sharp advance.
Sterling exchange responded to the Lon
don selling with a rather hrmer tone.
There was no hardening tendency per-
ceptibIe in the local money market.
The total sails of stocks to day were
SOS. 800 shares.
BONDS.
The enormous demand for middle-grade
and low-priced bonds continue in that de-
partment of the market today. The vol
ume of transa ctions thus far in January
is said to be far in excess of that for the
corresponding period in any previous year.
Today's business was large and the adj
vance is marked in the Iow-priced specu-
lative issues. The total sales today were
$3.50 coo.
United States old four coupons were 4
per cent higher bid, the new fours Il per
cent lower.
New fours registered 1271L. coupon 1854;
tours registered 1125s. coupon 1l41s; twos
registered 100; fves registered 1875; cou-
pom 1144; Pacific skies of 80, 103.
FOREIGN STOCKS.
New York. Jan. 27.-The Evening Posts
London financial cablegram says:
The stocks markets here were of bet
ter tone today Americans and Argentines
being the features Americans, which
closed at the best, are practically boom
ing. The support is mainly from New
York but professional dealings are here
strong and increasing. 1t is believed here
that the Teller silver resolution will pass
the United States senate, but the kind Of
professionals now dealing in Americans is
too used TO that sort of thing to be up
set by it. The Lake Shore and New York
Central were very strong. Grand Trunk
was lower. Bank of England stock is the
highest ever touched. 1t will be interest
ing TO note the effect on the half year 8
profits of the banks recent policy. Cop
per shares are recovering. The local dis
count market continues very firm. and all
the continental exchanges are rising. 1t
IS. however, rumored that more Japanese
money will be released at the end Of the
week"
New York, Jan. PA private cable
gram announces that the Chicago. Great
Western preferred "B" and common
stocks have been listed on the London
stock exchange.
LOANS AND EXCHANGE.
New York. Jan. 27.-Money on call easy
at 11zd12t per cent; last loan Ia. Prime
mercantile paper 3G3% per cent. Sterling
exchange firm, with actual business in
bankers bills at S.S2I214.s2ss for demand
and S. S2126AS2S. for sixty days; posted
rates s.. S3G4S3ls and S4.s51zd4S6. Com
mercial bills $IS1ia. Silver certificates
5sl4G57l4 Bar silver 56l2. Mexican doh
lars 49,.
TREASURY STATEMENT.
Washington. Jan. 27.-Today's statement
of the condition of the treasury shows
Available cash balance $40, SIS. $50; gold
reserve 1858. 697. 7S5.