The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-12-31
HIGHEST OF THE YEAR
Many Stocks Reach High
Mark on the Last Day.
PUBLIC Is TAKING HOLD
On Both Sides the Sea--Week
and Year Reviewed.

uaIIy today with none Of the usual reac-
tons and left off strong at fractional
gains in the standard railway shares and
at very material gains in various special
ties that were prominent in the days
transactions. The London market, where
the fortnightly settlemen passed off fav-
orably, opened away up on purchases
partly for American account. There was
also genuine buying for foreign account.
owing to the disinclination of London op-
orators TO await possible January boom.
and American rails closed a. about the
best. The initial rise locally was not gu. te
up to the London figures, but trading
was active and broad. Commission
house buying overcame realizing sales.
Industrials were particularly strong, and
Rock Island led the Changers upward
Public interest increased as the day wore
on, and prices were gradually lifted
There were sensational advances success
lively in American Air Brake, Long Island
Railway, Delaware, Lackawanna and
Western, Great Northern Preferred, Pull
man, Des Moines and Fort Dodge and
American Steel and Wire. All ma ntained
the greater part, if not ALL Of theid ad-
vance except New York Air Brake which.
after a rise Of points. reacted 1913 and
ended unchanged for the day. Sugar
Federal Steel, Reading and Jersey Central
surged upward, although Sugar and Jer-
sey Central subsequently fell off. Bay
State Gas showed heaviness and los a
point, the rumored deal of yesterday be-
ing denied The belief that next year viii
anthracite trade was largely responsible
for the rise in Reading and other hard
coal carrying roads. Continued favora BILE
railroad and trade reports and prospective
easy money stimulated the buying, closing
the year of stock exchange trading in a
whirl Of activity and strength, with many
securities at the highest prices of the
year.
The bond market shook off its late hest
fancy and coursed upwards with partIcu-
larly large purchase OF Reading fours,
which touched soc. Total sales were
S., 455.O0o.
United States old tours registered ad-
vanced Il and United States old fours
coupon, the new tours and the threes Is
in the bid price.
THE WEEKS REVIEW.
| Americans unprecedented trade, with
monthly increases in exports, continued
a great supporting factor in the dav's
business. The gold holdings of the United
States are larger than those of other
countries, and increasing sums of money
now profitably loaned abroad are subject
to call as they may be wanted. Deposits
passed the $500 600, 900 mark in last weeks
bank statement. The absorption of Amer
lean securities by home capital followed
this plethora of money. A rise in cereals
brought out farmers supplies, increasing
east-bound traffic, while the farmers de-
mands for manufactured articles increas-
ing with their available funds gave the
railroads a profitable return traffic.
! There was no evidence of the traditional
disposition TO restrict al the end of The
year but rather a tendency to discount
the REIMBURSEMENT of January dividends.
/ Business was larger in volume at general
ly rising prices. Indeed, commission house
/ orders accumulated over the Christmas
| holidays figured in Tuesdays buoyant
trading. with transactions the largest of
/ the year being little short of million
1 shares of stocks. Subsequent trading was
| enormous but not up to the first day.
! London was free purchaser on balance,
! regardless of the stiff contango rates for
| the fortnightly settlements there. The
Idea that Tuesdays enormous bulge was
! the elimination OF the rise seized the
| traders Wednesday and prices fell off and
for the first time this month the market
! closed weak at a considerable recession
/ in prices. A furry in call money, which
! 2,
aided the decline in values. but large Of
/ ferings soon brought money back to low
/ figures The market was tested again by
/ the bears on the succeeding days but re-
/ cuperated and closed higher. Regular
dividends were declared in the Wander
bits. Out over-sanguine persons professed
( diSappoin November. net increases
were general, Burlington leading with a
| 30 per cent increase. Coalers developed
! pronounced strength on the favTable No
vember reports Of Reading and New Jer-
| sey Central and the advance in coal prices
/ announced TO take effect with the new
year. Improvements in the week reached
very formidable proportions IN the stand
ard stocks.
/ The rise in the Changers extended TO -.
/ in Rock Island, but the Pacific averaged
+ only about a point Purchases OF gilt
! edge stocks were in large volume and sub
stantiaI gains were the rule
Manipulation and pool support were ef-
fective in raising the value of the special
ties. advances on this class Of stocks as
Stunning sensational figures in soma cases
I Case in point were the American Steel
and Wire, preferred. which Is up IS points.
and New York Air Brake. 142.-
The weeks bond market attracted con
siderable attention. the marked undercur-
rent of strength exhibited there serving
to inspire confidence in the general s!tus-
ton. Purchases for foreign account were
very heavy and keen demand was evi-
dent for the gilJ-edgs issues
United States threes advanced 8. the
new sours =. the Old fours : and the tw0s
! in The bid price.
The stock exchange viii Be closed to-
morrow and on Monday.
LONDON STOCK MARKETS
New York. Dec. S0.-The Commercial Ad
y rtisers London financial cao.eEran:
Business : broadening on the markets
here and the tone : excellent. Cousols
were the leading feature today. Amer
cans were active. There Is a distinct
growth OF public dealing n them. The
MAKE PERFECT MEN