The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-12-30
DEEP SIGH Of RELIEF
Heaved by Wall Street on the
Yearly Settlement.
BIDDING UP OF PRICES
Shows the ExuItation in the
Speculative Mind.
BIDDING UP OF PRICES

New York. Dec. 2s.-Ths stock market
testified its relief over the practical COM
pletion of the yearly settlement by bid
! ding up prices in a striking manner to-
1 day. There were signs OF hesitation and
rate Hurried to 10 per cent, simultaneously
| with the appearance of the statement Of
November earnings Of the Chicago. Bur
lington and Quincy railroad. This state
ment showed a decrease in the surplus
over s215.000 and, coming on top OF yes
terday's similar exhibition by the Chicago.
Milwaukee and st. Paul. made natural
impression on sentiment as going TO show
the inevitable effect Of the high prices
OF material upon the operating expenses
OF railroads. The Changers were most al
fected but prices in the railroad list gen
orally ran down to about last nights
level. The completion OF the period OF
money pressure. however, overshadowed
all other considerations and gave rise TO
a feeling ION the part Of security holders
closely akin to exultation. About the
time the London stock exchange closed,
the most notable movement of the day
was inaugurated. The fact that the peri
odical stock exchange settlement was
completed with no failure OF great import
ance, was gratifying surprise in the
financial world. The international stocks
in the late buying were the favorites,
in anticipation OF a demand tomorrow
from London. Although the call money
rate advanced sharply in London, dis
count rates dropped off fully one-half per
cent, with a resulting advance in the long
sterling rate in New York. The private
discount rate in Berlin also showed a
further decline so that the foreign mar
kets, in which a crisis had been feared.
all showed clear skies. In our own mar
ket, loans made today will carry over I'M
til next Tuesday 1t was this fact which
ran the rate UP TO IS per cent. A favor
able bank statement is counted for to-
morrow, in spite Of the fact that some
Sc, 100000 OF gold exports will figure in the
statement. On the regular expense move
ment Of money to the interior the princi-
pal banks have gained upwards of 81 5O0.- |
600 and on sub-treasury operations they
have gained s1,4SS,O00. Besides this, there |
have been very large receipts of money
by mail, estimated all the way from
81 100000 to 100000, so that net gain in
cash from all sources is estimated at
from s2,000,OO0 upwards In the late |
strength of the market the trunk lines |
were conspicuous. led by the Baltimore |
and Ohio and the Norfolk and Western |
stocks A rumor was circulated to the /
effect that the plan for harmonizinZ trunk /
line interests was soon 10 be announced |
and that it would include Norfolk and |
Western as well as Baltimore and Ohio.
Gains In the specialties were larger than
IN the railroads. except that Sugar and
Metropolitan Street Railway were more
or less under pressure. The New York
City Gas companies. the coalers General
Electric, Pacific Mail and the Steel and
Iron stocks shows most striking gains and
many Of the railroads are point or more
higher. A notable feature of the davis
trading was the number Of odd lots dealt
in. Closing prices Of stocks were as fol-
lows: