The Wichita daily eagle., 1898-11-22
PRICES MELT AWAY
When the Peace Commission
News Strikes the Street
ATCHIS0N GAINS 2 1-8
Before the Paris News Checks
the Advance.

New York, Nov. 2--The upward move
ment OF prices in the stock market was
al full tide today before Paris bulletin
/ announced that the president of the Span
ish commission had declined TO proceed
with the negotiations after the presenta-
ton Of the United States commissions
: ultimatum. The professional room trad
; ers turned sellers Immediately and the
large buying orders which were being ex-
ecuted all around the room were appar-
emily Withdrawn. Prices melted away
quite rapidly in this condition Of affairs,
! declines reaching nearly a point IN many
: cases. Supporting orders were then placed
! in many OF the leading stocks and the
decline was checked. There was no ap-
! parent disposition 10 continue the buying
movement, however, and for time Gu. Ing
the last hour the market fell into almost
entire neglect. This condition Of affairs
invited renewed short selling, and the
drift was slowly downward to the close.
The result is that many stocks which
were not conspicuously strong in the early
dealings closed lower than on Saturday.
while the notable advances in the lead
ers are much reduced. AtchisOn preferred
continued its leadership OF the railroad
list and through a food OF offerings went
up 21s points. TO 471s before the Paris
news checked the advance. Peoples Gas
reflected also a very heavy demand and
rose at one time 21sc, but saved less than
a point IN that gain. The early movement
of the market was confined very largely
70 special stocks. the grangers and the
recently awakened southwesterns halting
somewhat. Northwestern was an excep-
ton in the general group and gained 22&
points, and it's subsidiary company. St
Paul and Omaha. rose nearly points
The Baltimore and Ohio issues also show
ed very marked strength. Early in -he
afternoon Pennsylvania sprang into ac-
tivity and made notable advance Of 2IA
points, supplemented closely by Pittsburg
Cincinnati, Chicago and st. Louis prefer
red. This gave renewed tone 10 the whole
market and led to the strongest upward
movement OF the day, the level of prices
being quite generally lifted near a point
over Saturday The story Of the reac-
ton is told above. Uneasiness over the
stringent condition of money IN Berlin and
the approaching maturity of large ooli-
cations has apparently subsided. The
Northwestern railroad stocks were reliev-
ed from pressure and the threatened rup-
ture between Northern Pacific and Ore
gon Navigation fell into the background
Total sales Of stocks today were $40, 100
shares.
There was large and well distributed
demand for bonds and some sharp ad-
vances in prices resulted. which were well
maintained TO the close in spite OF the
weakness in stocks. Total sales were A.-
4e0, 900
United States fours registered and fves
coupon advanced Il and the twos and
threes coupon, the old and new fours reg
istered and the fives registered i in the
bid price.
FOREIGN STOCK MARKETS.
New York, Nov 21.-The Evening Posts
London financial cablegram says: The
activity and strength Of Americans was
the only feature in the stock market here.
Americans opened gocd on continental
and New York support. Berlin again SUD-
ported its specialties, notably Northern
Pacific, sales OF which have suddenly
ceased The extent of German buying %
Americans, in view OF the rise in money
rates, is somewhat surprising. Profess
sionals here are also buying. but there is
no public support yet. Grand Trunk was
again bought from Montreal and closed
strong
Berlin. Nov. 2L-On the bosrs. todav
money wGs easy az 5as and a more hope
ful feeling prevailed among the iuterna-
tional securities. Italian and Spanish fours
were the feature, the former. on Paris
report that the conclusion of a Franco
Italian treaty Of commerce - imminent.
and the latter on the presumptive i'm
provement IN the peace negOtist tions at
Paris. Local securities recovered sharply /
after large fluctuations
Paris. Nov. 21.-Prices on the bourse 20.
day opened firm, owing 10 A ruuo- that 4
a Franco-Italian treaty of commerce. was /
TO be signed shortly. This had favora
bic all-around influence. except in the case /
OF Spanish fours and Cuban securities. I
which were weak on realization in view
OF the unsettled terms Of peace.
Paris, Nov. 2L--Spanish fours closed al /
426.
London. Nov. H--Spanish fours closed /
al 412.c
Madrid, Nov. r.-Spanish fours CLOSED
today a. - =