The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-02-05
HOPES ARE DASHED
STOCK MARKET DEPRESSED BY THE
BOND SITUATION.
No Proposals for a New Issue are Forth
coming and q Sharp Selling Movement
Results in General Decline-Union Pa
cific Hit Hardest--Faith In the Bond Is.
sue Breaks Out Anew and Prices Step
Out Eriskly, the Market Remaining
Strong and Closing in Good Tone-Bonds
Follow Shares.

| HOPES ARE DASHED. d5vfg2, 3eranov
! New York, Feb. 4.-The fact that the
secretary Of the treasury has not issued a
call for proposals for the new government
| loan this morning had a depressing effect
| on the share speculation. The feeling was
| quickly reflected in the Inauguration OF a
sharp selling movement which continued
in force during the first hour and led TO
a very general decline ranging from Is
| per cent TO Ia per cent, the later in Cen
eral Electric, which sold down also in
expectation of an unfavorable decision in
pending litigation, which, as on last Mon
day, was not handed down by the supreme
court in which the mater was pending.
Chicago Gas broke II per cent, the de-
cline being assisted by reports that the
! negotiations for a settlement between the
interests contesting for control of the
company were tagging. Rock Island and
Louisville and Nashville lost p per cent:
Burlington and st. Paul x per cent;
Northwest 3 per cent. and Sugar y per
cent. The greatest decline of the entire
market was ? per cent in Union Pacific,
due TO liquidation for both home and for
eign accounts, induced by the practical
defeat of the fIIndipg bill in the house
of representa- tives Saturday. Di5tilling
was bought freely on the announcement
that Judge Grosscup at Chicago had re-
moved President Greenhut from the re-
celvorship of the company and that two
receivers had been appointed who had TO
previous connection With the company,
one of whom was selected by the New
York stockholders. An advance Of III per
cent was made in the stock. of which
Z per cent had been lost at the close on
realization of profits by small traders.
About II O'Clock the temper OF speculation
IN the general market underwent achange,
the street having recovered from its early
dependency and resuming its faith in the
anticipated bond issue. being helped there
10 by the decentralization of the sterling
exchange market, which testified to the
belief Of the foreign houses that the bona
issUe would rot long be delayed. AS
consequence prices mounted UP with buoy
art step, Sugar advancing ~ per cent;
Louisville and Nashville, IL per cent;
Rock Island, rs per cent: Burlington, st.
Paul end Western Union, 1 per cent;
Union Pacific, q Per cent, and the rest
OF the list lsIz1a per cert. There we're
some fractional reactions IL the later trad
throughout the afternoon and closed IN
good tone. Columbus and Hooking Valley
and Toledo was unusually active and
touched POS per cent, the highest point
reached in long time which is a gain
OF rs per cent over last Wednesdays
price, there having been a steady APP
probation in the shares since that Gay,
which is due TO buying induced by the
completion of the organization of the
opera tors producing coal on the line of
the road, for the purpose of placing the
selling of British coal in one agency,
thereby compelling competition. The
stock closed within Il per cent of the
highest.
The bond market was depressed in the
mornig. but in the late session there was
G general recovery in unison with the
strength of the share speculation.