The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-01-23
SHARE VALUES LOVER
Business in Stocks is Exceed
ingly Light,
DECLINE ON THE WEEK
Bank Statement is an Extra
ordinary Affair.

New York, Jan. 22.-Trading in stocks
today was of small proportions, even for
a Saturdays brief session. The market
generally left off with a steady tone, with
a slight recession in values. No outside
interest was apparent, and traders trans
acted most of the business. Commission
houses had but few orders either way.
Consolidated Gas and Metropolitan Street
Railway and a few other special issues
monopolized the traders attention. Su-
gar declined fractionally. Manhattan
was moderately firm; Consolidated Gas
rose ~ points; Metropolitan Street Rail-
way2% points, and Third Avenue ad-
vanced "a points on influences that had
been operating all the week. No liquida-
ton of Importance was noted except in
Omaha and Jersey Central
The total sales of stocks today were 49,
600 shares.
THE WEEK REVIEWED.
The stock market for the week in most
cases has resulted in fractional de-
cline. The favorable factors in the situa-
tion outnumbered the others, although
the disturbing features were regarded as
OF greater importance. Among the grave
affairs in the situation from the specula-
rive standpoint were the New England
cotton strike and he possibilities in
China. Cuba and the consideration by the
senate by the senate OF the resolution
that government bonds may be PAID IN
gold or silver While no radical leglsla-
ton at this time was expected concerning
either silver OF Cuba the professionals
made the most of the situation, with
were partially successful At the same
time the foreign markets were overshad-
owed by the possibility Of the European
mowers becoming embroiled over China
on the other hand, there was much to
Justify an optimistic view on prices
These were satisfactory trade conditions,
immense increases in railroad receipts,
large exports, scarcity of failures in the
commercial world, easy money, and the
fact that over four-ffths Of the Illinois
centraPs SIS. 500, 900 of bonds had been ia
ken for domestic account. Egypt and
Russia. usually sources of supply for Eu-
rope. were reported to be importing Amer
lean corn. Money at this center was
quoted lower than in almost any part OF
the world and this alone was supposed
to impede gold imports at this season.
when sterling exchange usually rules
itate here from the interior of the coun-
try. the banks gaining over s7,500,0OO last
week. The break in the money market was
largely due to the continuance of the gov
eminent deposits of Union Pacific money
IN the banks The Klondikers, Sugar and
local corporations including gas and the
traction shares, were the active features
of the week, at times showing buoyancy,
but with manipulation ever present. The
grangers and coalers generally ruled
heavy There seemed little outside inter
est in speculation, the dealings being OF
less volume and concentrated in fewer
securities than was the case last week.
Railroads located in the extreme north
west and western sections of the country
largely discounted the expectations of the
increased traffic resulting from the pros
pective immigration to the newly-discov-
cred gold fields. where they would be de-
pendent largely upon the United States
for supplies. There were improvements
ranging u to 8 per cent in Oregon NaVi-
CATION ST and 916 per cent in Oregon
Improvel ant consols. Conflicting advices
regarding the probable success of the Ha-
waiian treaty were reflected in Sugar
fluctuations Other influences on this
specialty were statements regarding the
position Of insiders as to whether they
had been acquiring the stock or favored
g further decline. After recovering range
of nearly points, Sugar closed with half
Improvement. Local gas securities were
In demand on statements that large inter-
ests that hitherto held aloof were no long
er unfavorable to the general consolida-
ton The impending legislation at AL
bany was interpreted as having features
off setting the possible reduction of the
price in Greater New York. Console
dated Gas closed with a rise of 1024 per
cent. The extraordinary rise. since the
municipal election in Metropolitan was
continued the advance OF the week be-
ing uI4 per cent. This was accounted for
in published statements of increased traf-
fic, owing TO the completion of extensions
of the system, but manipulation was very
prominent in the dealings. Pittsburg. Gin
cinnati, Chicago and St. Louis was prom
inent in the dealings, owing to excellent
traffic statements and secured net gains
of 2h per cent and AZ per cent on the
common and preferred, respectfully.
BONDS FOR THE WEEK.
The bond market for the week displayed
a striking degree OF strength in special
cases, which embraced liens OF compa-
MES operating in the Pacific northwest.
Some interest was attached TO the spec
ulatiOn il Seattle, Lake Shore and East
ern firsts. owing to the fight for the con-
troll of the property by two leading rail-
road systems, which was reflected in an
OF 1S24 per cent in the price
of the isue. The transactions for the
week were S20.271,000.
Government bonds ruled at slight recess
sions generally throughout.
FOREIGNSTOCKS
New York, Jan. 22.-The Evening Posts
London financial cablegram says:
The stock markets show Irregularities.
Today business was checked by the set
Element in mines, to begin on Monday.
There is a fldgeting feeling about eastern
and the feeling about the Unit
ed States and Cuba is not quite comfort
able. The result is stagnation."
LOANS AND EXCHANGE.
New York. Jan 22.-Money on call easy
at 2Q2lz per cent; prime mercantile pa
per, 3qG2i per cent Sterling exchange,
easier; unchanged. Posted rates, 4.S5Ia
G+S5; commercial bills. S4S2i5. Silver GER
tidcates. 5G15G571z; Mexican dollars, IS.
THE BANK STATEMENT.
New York, Jan, y22.-The weekly state
ment shows the following statement:
Surplus, increase IS as. coo; loans. increase
So IL, SO; specie, increase 81 COS 500; legal
tenders. increase SS,I12, coo: deposits. in
crease S22.S50.0 600; circulation. decrease 81
730. The banks now hold 81. 500 600 in ex-
cess Of the requirements of the % per
cent rule.
New York. Jan. 22.-The Financier SAYS:
The extraordinary increases in the
items Of the bank statement
for the week ending January %. which is
in measure unprecedented. considering
the short space OF time required TO send
the figures 10 the high limit attained, are