The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-28


Community Regards the Treasury At
tempt TO stzve on the Evil Day-stoek
Market Displays increased Business
Net FINAL Results Slight Declines
Mstabele Nsssscres Ouench Kafhrs-
DelaSoa Bay and Port Arthur.
New York. March e7.-The all-impo-t-
ant topic in financial circles today was
further advance in the rates of sterl-
ing exchange 10 within 4 OF a cent OF
the figures at which il Is estimated
that gold could be exported without loss
The proba bility of gold exports within
the next two weeks in default OF a
change in the financial situation, was
pointed out yesterday. Authorities on
exchange declared that at Asa for sight
drafts the yellow metal can be shipped
The market closed for the week at Sass
q for demand and $4.S9 for cables While
the treasury gold reserve now stands az
the substantial total OF SIPS. $50. i,
is obvious that a fairly considerable
amount could be shipped without reas-
enable cause for alarm. Nevertheless
1t Is true that the sentimental effect OF
a recurrence Of the outflow might have
serious results, not only on the prices OF
railway securities but in other direc-
tons. Foreign investors are keenly
alive to the situation, and especially
as they have learned that the treasury
department at Washington is solicitous
to the extent that il contempltes as
remedial measures to any further
strengthening of the exchange market,
either another call on the depository
banks for part OF their holdings OF
government bonds, or a premium on
gold bars. London was a seller OF
American securities both in its own and
in this market today on the considera-
tons noted. Considerable anxiety -
felt in mercantile circles as it is felt
that further contraction Of the market
for commercial paper incidental TO the
manipulation of the money market by
the treasury department might have
unfavorable results.
The market displayed moderate in
crease in business, with dealings in
American Tobacco and Sugar alIogeth-
er disproportiOnate TO the transactions
IN the other shares. The first mention
ed figured for 81 900 shares out of an
aggregate Of 1S5.300 shares. All of the
gossip regarding the property is OF a
character calculated TO depress the price
aside from the expectancy in some cir
Giles Of the declaration of a dividend on
Wednesday next, but steady but quiet
buying of large amounts has been a
feature of the market for some time
past. There has also been a consider
able amount of stock covered by shorts.
The stock displayed some heaviness at
the outset, but the final price records a
net improvement Of 24 per cent. Balti-
more and Ohio attained some promin-
ence in the late trading by a jump OF
rs per cent on increased dealings. The
general market presented but few fea-
lures. The opening was weak and
lower on the foreign selling previously
noted. business was quite modera -
and fractional losses in nearly all of the
leadings shares. In the internationals.
Louisville and Nashville gave way an
exceptional q per cent. Sugar also
lacked support and lost a point. The
activity soon subsidized and a. slight rally
in prices was succeeded by a fairly
steady tone. In the final hour fractional
gains were general, Sugar recovering
most Of the early loss. The net changes
were generally slight declines.
The totals sales OF stocks today were
1874, 126 shares, including: American To-
bacco. $4,000; Burlington, $500; Balti-
more and Ohio. 800; Chicago Gas, 100;
L. 4 ~
s. 400.
Dizziness was about the only feature OF
the railway bond market Fractional
declines occurred in the speculative
shares, but the only pressure was Union
Elevated firsts which dropped 8 per cent
on light offerings. The sales were $685.
600.
Governments were firm on purchases
of SS7. 900.
LONDON. PARIS AND BERLIN.
New York, March 27.-The Evening
Posts London Financial cablegram
says: The stock markets were neglect
ed and dull today. Americans were
weak, closing at the lowest point KAT
frs have been heavily sold on the Ma
tabele outbreak and the political situa-
ton generally in South Africa The
Daily Chronicles report OF the purchase
of Delagoa Bay by England is discredit-
ed in the city. The Chinese loan pros
pectus is out. II Is for 10, 900, 900 pounds
at 5 per cent. The issue price is ss4
per cent and Il IS quoted al 3 per cent
premium in the markets.
Gold was bought here today for
japan. 1t is probable that a good deal
may go out but the opinion Is that X
Will be spread over a long period.
1t is reported from Berlin that China
has Ceded Port Arthur to Russia. but
nothing Is known on the subject here.
The Paris bourse was steady during
the day but closed weaker on the fan
in Italians.
The Berlin market was steady.
AT a VDRY LOW EBB.
New York. March 27.-Brad Street's
financial review tomorrow VIII say:
Speculation has been al an exceedingly
low ebb this week. Public paTticipa-
ton or European interest in the stock
market are non-existent and the pro-
fluctuations, has been OF the narrowest
kind. The growth Of a short interest IN
the absence OF positive liquida ton acts
somewhat as a check upon declining ten
denotes. and IN the early portion OF the
week covering OF bear contracts by pro
fessional interests impaired some de-
sultory strength TO the share list. IN
The last two days. however. the market
became weaker on the prospect that ne
resolutions looking TO the recognition
OF Cuban belligerency would be adopt
ed by congress. This created further
depression OF American securities n
London and gave a beaTish tone 70 ths
trading here. though By Friday after
noon the market had rallied again on
desultory covering. The rise n foreign
exchange rates 70 the point which Gre
ates discussion about the possibility q
gold exports was also unfavo-sble %
the market and L il also feared that The
trea sury VIII use the command q the
money rnakst afforded BY tae special
deposit of part OF the proceeds q ~