The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-11-18
STOCKS RATHER FIT
In.Spite of aggressive Strength
in a Few.
RALLY LATE IN THE DAY
Anxiety as to TOday's Bank
Statement.

New York, Nov. 17.-The stock market
had 70 absorb q very large volume Of
today's trading The tone OF the market
for the rest Of the day was rather fat
and disDirited in spite OF aggressive
strength D. a few prominent stocks and
notable advances by = number OF rather
obscure stocks. The prof1t-tzkinE was
especially noticeable in Southern Pacific
and Union Pacific, and held those stocks
under yesterdays price for the greater
part OF the day. The buying In both OF
them was nevertheless on q very large
scale. blocks Of :. co shares and upwards
Of Union Pacific making their appearances
frequently in the record. The most con-
spteuous movement OF the day was IL
the Baltimore and Ohio stocks. the pre-
ferred leading. It's extreme advance was
rs. The closing being nearly az the top
The common stock added "a 10 its price
for the day. The various metal stocks
had period OF strength. Otherwise the
market was rather irregular and disposed
70 reaction until a late rally which wiped
out many previous losses. The Changers
we're conspicuous IL the late movement.
trene rs. Isolated movements OF import
anee were advances IN the Buffalo, Ro-
chester and Pittsburg stocks OF points
for the common and points for the pre-
ferred, the latter reacting 3 points. Uni
ted States Milling preferred fell an addi-
tional 3. making ESQ for two days, and
Mating preferred lost 81.
The hesitating tone OF the market was
due TO recurrent anxiety over the show
ing TO be made by tomorrow's bank state
meut. This was accumulated by a late
stiffening OF the cali loan rate 10 per
cent on demand from belated borrowers
70 carry over until Monday. The earlier
rate had been per cent and fell as low
as per cent. The sub-treasury today
paid out about s. o0o. co for bonds offered
for redemption and the sub-treasury's
debit balance at the clearing house re-
fected its payments for the same pur-
pose yesterday, the amount being 8 81
s49. But these additions 20 current sup
piles, coming late IL the week. will have
a diminished effect on the cash showing
Of the banks, owing to the system OF
averages. The net result OF sub-treasury
opera lions other than these is small The
interior money movement BY express and
sub-tressury transfers has resulted n a
cash net loss 70 the banks Of over HOO
GO. The heavy contraction OF the latter
part OF last week however. will De part
- reflected IN this weeks statement and
VIII help TO reduce the reserve require
ments. Apparently there has been some
expansion Of loans during this week BY
the banks with the inflow OF funds. TIE
net result upon surplus reserves IS thus
very difficult TO estimate.
Sterline exchange made further progress
upward today and served 10 add 10 the
apprehension that any actual ease OF
money at this center would lead 70 g de-
u1and for gold upon II from abroad. Dis
counts IN London and on the continent
dere somewhat easier and the course OF
the interior exchanges IN this country
was il favor Of New York. London sold
stocks on balance In this market. Closing
rrfces Of STOCKS Wara as fcllnws.