The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-05-12
TOOK A NEW START
UPWARD MOVEMENT IN STOCKS
GETS A FRESH INPETUS

49, e~s>s As~@e1@s@s8
Rule ut the Opening but the Market =
Well Held--Closss strong and at Best
values--Past Week the Most Nosab,s In
Long Time--Creat Activity. Wide
Trading. Material Advances. Large
Foreign Buying and Sterling Exchange
Rsduced--Bonds Strong and Active
New York. May lion the stock ex-
change today the upward movement
which has been in progress through
out the week, received Q fresh impetus
and a higher range Of values was es-
tabliShed. Notwithstanding the fact
that at the opening London was a sell
Ter and that local traders were realix-
ing profits. The market was well held
and gradually gained strength. the for
eigners changing from and becoming
good buyers In the last hour the spuc-
ulStion was very buoyant In tone and
closed strong with prices generally at
the best Of the day and OK the week.
The Changers are 1x1iN per cent high.
er. the latter Burlington: Central Paci-
fic. lis per cent: Erie and Northern
Pacific. 1 per cent: Erie and Northern
Pacific preferred. ~ Per cent. and Wa
bash preferred and CoTdage guaran-
teed. IL per cent: Canada Pacific. Dts
filling. Denver preferred and Pittsburg
and Western preferred. lis per cent:
Baltimore and Ohio. per cent: ST Paul
and Denver. II: per cent: ST. Paul and
Denver. per cent: ST. Paul and Omoha
preferred, "a per cent: Sugar. "a per
cent; Mexican National Construction.
per cent. and Oregon Navigation. Sis
per cent. Great Northern preferred
closed at siee bid against $ll2 bid at the
close yesterday. Dulush, South Shore
and Atlantic common an dpreferred lost
l per cent each and few other shares
are fractional lower on the day. Pa
cific opened per cent lower on the an
nouncement that the negotiations with
the Panama Railroad company had
been abandoned, but the decline had
been fully restored at the close.
The past week has been q notable ono
in Wall street by reason OF the great
activity OF the stock market. the wide
distribution OF the business. the ma
terial advances recorded ana the large
buying for the foreign account. Anoth-
er prominent feature was the demorali-
cation OF the Sterling Exchange market
rates at the close showing a reduc-
ton OF pence In both long and short
bills. The trading was at times attend
ed by considerable excitement and this
short interest in the market was fire.
Quently forced TO cover without regard
70 the prices at which purchases had
been made. Sales TO realize profits
We're about he only depressing inffueno
except that occasionally the bears en-
deavored 10 hammer down groups OF
stocks such as the eoalers and grana-
eTs and individual securities on un-
favorable reports enecting these pro-
perties. but these raids proved inef-
fectual The market was a rising one
and after every reaction the higher level
nttfC
ancy OF the dealings can be attested
by the fact hat some ninety shares
touched figures higher than have been
made at any time since anuary Il Tho
commission houses reported a flood of
orders from the more prominent finan-
oial centers OF the country. Manipula-
ton was plainly evident In the move
ment OF several stocks. including eu-
gar but he character OF the general
news I'm circulation was or suoh = ma
ture as to inspire confidence Tho
sharp recession in the rates or ex-
change led TO talk of gold imports I'm
the near future. The sales of the week
aggregated 2.45o.o0o shares and lsS
stocks were traded in.
The bond speculation today was sc-
tive and buoyant. with sales OF $3.2ss,-
o00 The only decline sboue a fraction
was I per cen In Cordage firstA
During the week the trading In mort
cages was on a scale Of mammoth pro-
portions. the sales aggregating 81, 800.
a total which has not been reached In
any one week for years past The
IrRest buyers were tho foreigners Tho
dealings have been characterized by
marked buoyancy and material ad-
vances have been recorded IN most OF
the scurities dealt in. the distributions
OF business being wider than usual and
extending 20 bonds which have not
been traded In for more than year.
In all 27T mortgages were dealt In
Government bonds were notably
strong and the leading brokers reports
ed large sales over the country. tho
sales at the board being $4,000.
State bonds figured I'm the dealings
for So, 900 OF which &i3. 900 were Virgin
taa