The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-03-22

NEW YORK, March 2l.-AlthoUgh not alto
gether controlling influence OF the specuia-
tion on the Stock exchange, the fate OF the
seigniorage bill is full OF interest TO the street,
and operators both long and short accounts,
trade on their respective theories as TO the
probable action of the president. The dis
patch received from the executive chamber
last evening by the chamber of commerce
committee appointed 10 present the memorial
adopted against the signing of the measure.
advising that they should not 60 to Washing
tom was taken BY one section OF operators to
mean that in -as-much as the resolution had
been reached to veto the measure, il was I'M
necessary for the committee to make the
Journey. On the other hand, it was suggested
that the president having decided to sign the
bill, did not desire to speak to the committee.
Both sides of the question agreed that Mr..
Cleveland had either made up his mind as TO
the course to pursue. or wished to arrive al a
conclusion without the assistance of the New
York financiers.
A belief in a veto caused a buying move
ment during the morning, while in the after
noon the early purchasers became sellers.
There were other factors besides the selgniOr-
age bill which affected special stocks and
sympathetically the entire market The Sugar
interests profess to regard the sugar schedule
of the senate tariff bill with only a little less
favor than they accepted the house bill and
assert that it does not give any material pro-
lection to refiners. AS consequence, the
bears in the Sugar company's shares are as
sisted by this argument in hammering down
prices. Reports today were circulated to the
effect that certain prominent senators have
stated that the tariff bill, as it will pass, is
certain to make sugar free, but despite all this
the common stock, after an early break, re-
covered all but fraction If the loss while
the preferred made a slight gain. Pending
the conclusion of negotiations in progress be-
tween representatives ofthe distilling and the
distributing companies the speculatiOns In
Disabling are contracted. The uncertainty
which prevails as to the outcome of the CON-
ference naturally causes unrest, as the buying
and bear trade are not anxious to put out long
lines of the stock lest they be swamped In a
boom manufactured out of a possible agree
nent between the rival interests.
A covering movement in Burlington and
Quincy was the moving power in the appreci-
alton in this stock, but despite early pur-
chases of ST. Paul for the London account, the
latter selling reduced the adyan"e in the
common to u, but the preferred made an ad-
vance of per cent.
The volume of business was lighter than for
some time, even Sugar falling to show its &C
customed activity. A firm opening Was fol-
lowed by an early advance except for Sugar,
which, after an advance of25s per cent, broke
25s, subsequently recovering "a, but again
reacting ,, rallying ls4. receding rs, and clos
ing at a recovery of l per cent. the loss on the
day being u per cent. The general market
was stronger during the afternoon until about
2 o'clock when a reaction occurred. but in the
final dealings the speculation became firm
again and closed with prices IN the main a to
"a per cent higher than the final quotations of
for the active list.
The bond market was firm in he early trad
ing during the afternoon.