The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-13
Strength NRALNAYS
Union and Northern Pacific
Chief Factors
REALIZING IN PROGRESS
Elsewhere in the iSt--Money
Rates Yield.

New York, Jan u-Today's market for
securit es was of much The same charac-
ter as yesterdays. The principal interest
was conferred in Union Pacific and num-
Der Of its affiliated companies, and in
Northern Pacific which were the lead
ing factors of strength, while on the 9TH
er hand Sugar continued under a weight
Of depression, as was the case yesterday.
A new feature Of special strength was
Chesapeake and Ohio. which advanced
point on heavy buying. transactions were
On very large scale and the heavy deal
ings Of large operators backed by the pow
erful interests were manifest all through
the market. These large operations at
tracted a considerable following both
amongst the smaller traders and from
outside sources. Commission house bust
ness was quite noticeable in the days
trading. II was obvious, however, that
realizing on a large scale was going on
in different parts of the list, coincidental-
~ with the strength in other parts. A
striking example OF this process was seen
in the Union Pacific stocks, the common
being advanced over & point, while realiz-
ing IL the preferred carried ii before the
close to the last nights list sale. The
Changers, outside of st. Paul, will also
be seen to reflect a supply of stock fully
equal to the demand. The anthracite
coalers were weak and continued to de-
cline, but the Ohio soft-cOal roads main
tanned their recent show Of strength. IN
ion Pacific rose at one time over two
points. but recent buyers commenced to
profit as soon as a report was published
that the new company had secured control
o.
acted over a point. The recent strength
of the stocks is fully sustained by today's
announcement This buying was evidently
founded in a belief in far-reaching plans
of combination and extension, which, &C
cording to some prevailing rumors, Will
embrace one vast system from the ATTAIN
tic to the Pacific. Much was made in the
market by a reported bond Issue by the
Chesapeake and Ohio, though the view OF
benefits to accrue seemed to be somewhat
exaggerated regarding the amount or
transactions. Advices from the London
and continental markets showed the tone
of American securities in the foreign f.
nancial markets to be excellent. London
bought in this market no less than 10000
shares of the favorite International stocks
and the marked strength of Union Pacif-
ic were direcvtly attributable to this de-
mand The weakness seemed to be con-
nected with the annual meeting of direc-
tors in progress today though no news re-
garding the company could be had.
Money yielded today below 212 per cent,
but the tone of the market revealed the
prevalent feeling that rates will yield in
the near future. Large amounts of money
also found their way into investment and
speculation today. The availing POSSIBLE
ity to the money market was indicated
by the fall of 1kc in posted rates, the de-
cline not being prevented by the expect
ed arrival tomorrow at San Francisco Of
another s., COO 600 in gold from Australia.
Total sales of stocks today were 490, ADO
shares.
BONDS.
The par value of today's transactions
In bonds is not as large as that of yes
terday, but besuness was remarkably well
distributed all through the list. Gains
were the rule but there were some de-
clines. Total sales were s4575, 900. United
States old tours coupon and the new fours
were nc bid higher today. Sales of the
new tours coupon were made at S1.2924,
which is the hiaaest on record.
TREASURY STATEMENT.
Washington, Jan. 12.-Today's statement
of the condition Of the treasury shows:
Available cash balance, S238, 495, 562; gold