The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-02-05
Mt GAINS At CLOSING
Market Gets HELP From Par
tiCuIar Stocks.
LAKE SHORES TRANSFER
Is an important Feature in the
Days Dealings.
LAKE SHORES TRANSFER

New York, Feb 4.-The remarkable
buoyancy Of a few special stocks lifted
today's market out of slough of de-
preston and closed the day with net gains
although there were a few losses in ex-
ceptional cases. Net changes were small
in tbz general. list but the gains in the
lit, group of leaders was eXtraordina-
~. The Erie stocks showed the effect
of some unusual demand at the opening
of the market and the first preferred end
ed with gain of over points. Concern
ed in some way with this was the move
ment in Susquehanna and Western, which
gained in force as the day advanced The
preferred showed a gain of points on
the last transactions, and the common
stock of "a points. There was nothing
in the news of the day to explain these
movements The Vanderbilt stock held
the center Of the stage on account of
the action of the New York Central d.
rectors in authorizing an issue of $780,
600 900 collateral 3" per cent bonds to ef-
feet a consolidation with the Lake Shore.
The formulated plan closely agrees with
the announcements which have been
made A quotation for the new stocks
when issued was promptly established on
the exchange, s. per cent being bid, and
81 per cent asked. The price Of Lake
Shore and of New York Central wavered
somewhat in the face of prof1t-taking on
the announcement, which had been am
ply discounted. But Michigan Central
bounded up buoyantly over points on the
belief that it would ultimately be in
Guided in the consolidation in progress.
Canada Southern also benefited to the
extent Of over point. Norfolk and West
enr preferred is up about points, and
was bought largely in this market today
for London account. This stock was af-
fected by the reported authority granted
to It to construct a branch through Vir-
ginia to Washington and by the general
Improvement in It's financial condition
Great Northern preferred advanced an
additional point this morning, but react
ed then points, to $50 per cent, and at
the close quoted 15S per cent bid, and 1856
per cent asked. Manitoba, the subsidiary
company jumped points, to 135 per cent.
The late strength of the market brought
number of gains in the general list up
10 about a point and reduced or wiped out
declines in a number of stocks that had
shower early heaviness, notably Manhat-
tan, Baltimore and Ohio and Union Pa
cific preferred. A feature Of the day was
change based on the easy tone of the
money marke.
The total sales OF stocks today were
294. 200 shares.
BONDS.
There was no very noticeable falling
off In the active bond market. No JIM
portant gains were shown, but prices were
firmly held Total sales were s5.63O,OO0
United States new fours were up 4 per
cent bid. New tours registered and cou-
pon. 12S1k; fours. 1884 coupon, 1145s; twos
registered, 100; f1ves, registered and cou-
pom, 1881 Pacific SKIES of SO, 104.
FOREIGN STOCKS.
New York, Feb. 4.-The Evening Posts
London financial cablegram says:
THE stock market was quiet here
today The feature was a sharp rise in
Grand Trunk and Canadian Pacific. Ca
bles reported the outbreak of a rate war.
This, however. is disbelieved here it be-
Ing understood that the dispute merely
refers to small sections of the line while
the Grand Trunk is understood to be will
ling to submit any question of rates to
arbitration. Fries were bid for here on
reports of a dollar dividend on Erie pre-
ferred. The dearth of American bills con-
tinues, and cables report that fully $40,
100000 worth is held in banks in New
York"
THE WEEKS REVIEW.
New York, Feb. 4-Bradstreet's fnan-
ciaI review tomorrow will say:
''Irregularity has prevailed to a consid-
cradle extent in the action of the stock
market for the past week A strong un-
dertone asserted itself in he speculation
and at concessions there was a very good
demand for stocks. At the same time
the impression was created that in some
YfS in 2 {
existing circumstances warranted, and
that the larger class of spectators had
realized. leaving stocks in the hands OF
the public a condition which is proverb'
tally productive of liquidation. On the
other hand various portions of the list
which had heretofore taken a decided par
In the advance were strong and active
some of them, notably Reading and The
coal stocks. contributing materially to
ward keeping up the bullish spirit of the
general market A favorable impression
was created al the beginning Of the weel
by the prompt and emphatic rejection O
the Teller resolution in the house, while
the interruption OF Geographic communi
cation with the eastern states was L
some extent felt by the market
LOAN SAND EXCHANGE.
New York. Feb 4-Noon: Money OF
call nominaIly 1lz61s< per cent. Prime
mercantile paper. 3G4 per cent. Sterling
exchange. firm, with actual business il
bankers bills at stS5G4 SIS for demanC
md at S4.S2d4S27s for 60 days; poste,
rates $4.S312d4S6. Commercial bills. SIS
a4S2le Silver certificates, 5s54 651i4 Ba
silver. soy: Mexican dollars. 45i+. Govern
ment dollars, asa. Government bond
firm.
GRAIN AND PRODUCE MARKETS