The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-29
SLID DOWN SLOWLY
STOCK SPECULATION HEAVY AT 4
STEADY DECLINE
Selling Movement Begins Early and Con-
tinues to the Close, Supported bv Both
Foreign and Local Traders-Repcrts of
Western and Southwestern Crop DAM
vance In Grain Does Not Relieve
American Securities Weak in London
Bonds Hold Up Until Near the Close.

New York, May 2S-Speculation on
the stock exchange today was heavy
in tone and there was a steady decline
in prices from the opening TO the close
of business, with one or two exceptions
A selling movement set in at the open
ing which, although of only moderate
force, was continuous in its operations
and had the support OF the foreigners
as we'll as the local traders. Chief
among the causes OF the depression
were the reports from the west ad
southwest regarding the growing
crops, which received confirmation in
the sharp advance in the grain market
The London market for American Sc
curities was also weak and this helped
to lower figures here. General Elec-
trio was strong in the early dealings
and rose rs per cent on buying in
duced by a vague report that the COM
pany was to supply the Manhattan
Elevated road with motors. The stock
closed within y per cent OF the low
figures Susquehanna and Western
shares resumed their downward move
ment on the renewal of unfdyorable
reports regarding the company, TO wit:
That President Borg was about 10 re-
sign and that obligations entered into
by the company were bearing heavily
on il. The common stock declined la
per cent, TO to 1054 per cent, closing at
1919 per cent: the preferred fell OF Az
per cent to % per cent. closing at a
recovery of Pa per cent. Pacific Mail
was in good demand on reports that
the earning capacity OF the company
was TO be increased. An advance OF
liz per cent was made in the morning,
but all but y per cent was lost in the
subsequent trading. Alton and Terre
Haute rose Sl2 per cent on purchasing
of 900 shares, bringing the stock up 10
SIS per cent as against 351a per cent. the
low point OF the year. touched on Feb
ruary 10. The declines made in the
general list from last nights closing,
or the best prices of the morning are:
Denver and Rio Grande preferred.
Tennessee Coal. Northern Pacific pre-
ferred Lake Erie and Western, Min
neapolis and st. Louis common first
preferred, Michigan Central. Mobile
and Ohio. Reading, st. Paul and Oma
ha, National Linseed and Baltimore
and Ohio l per cent; New England rs
per cent: Northwest, Union Pacific.
New Jersey Central and st. Louis
Southwestern preferred ~ per cent;
Erie is per cent: Rock Island. Louis
vile and Nashville. Illinois Central and
Cotton Oil ~ per cent; Cotton DOLL pre-
ferred per cent; st. Paul and Burling
ton 15s per cent: Tobacco rs per cent;
Sugar and Buffalo, Rochester and
Pittsburg per cent; Delaware and
Lackawanna 27s per cent: Great North
ern preferred per cent: Manhattan ga
per cent. An improvement Of l per
cent was made in st. Paul, II. and NJ.
Speculation closed heavy.
The bond trading was generally firm
for the greater part of the day. but to-
wards the close prices yielded some
what in sympathy with the weakness
of the share speculation. The sales
were S2143OO0