The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-21
MOST SHARES FALL
STOCK MARKET CLOSES WEAK AT
ABOUT THE LOWEST.

reSniartty anu a SSSgtnS 1enoeney 10
Close on-Bonds for the Day and Week.
New York, June 20-There were re-
cessions n most shares today on the
stock exchange. The market retained
TIE favor Of professionalism which has
| been a feature recently. Rubber ran
! counter 70 the general movement OF
prices, gaining IL per cert, to 70 per
cent. The trading was Of retail char
ecoer with sagging tendency through
out, although evidence Of support was
noted in q few instances. The closing
was weak at about the lowest The
total SAILS Of stocks today were 43.5s1
shares, including: American Tobacco
$500: American Sugar $3.50; St Paul
400: Wheeling and Lake Erie 5000.
Foreign operations were more OF
factor during the week than for a long
time past The foreigners appeared 10
regard the outlook with considerable
satisfaction at the outset and cabled
over heavy buying orders in the inter
national shares. The improved foreign
sen 1ment contributed 70 a decidedly
bulHsh feeling n local circles and in
duced activity in commission house bu-
siness. The railway shares assumed
unusual prominence in the trading, with
an especially good demand for the
grangers and Southwesterns, due 20 the
encouraging crop prospects Pool buy
ing was evident in many instances and
the development Of buoyancy IN the 10
cal gas properties revived rumors Of
consolidation prospects. The improve
msnt extended 70 government bonds
and a rise Of 1S14 per cent occurred in
the new fours. The dealings in this de-
partment were on q more extensive
scale than ar any time since the culnni-
nation OF the bond sale. The market re-
ceived a sharp set back about the mid
de Of the week, owing 70 a change Of
front on the part Of the foreign dealers
caused by apprehension Of a revival
OF the Venezuelan compiled tons. \
general movement for foreign account
resulted, which carried prices down
materially. The local dealers followed
ard heavy realizing orders were exc
cute6- The declaration OF the regular
Vanderbilt dividends and some favor
able traffic returns partially stemmed
the reactionary tide. Measuring ad-
vices were cabled 20 Europe on the
points referred 10, and in response there
was a recurrence OF buying orders on a
large scale. The market generally NOV
ed irregular and responded particularly
70 current developments. Aggressive
strength was evident at times and this
was followed by marked weakness, re-
fleeing the absence OF support in the
leading shares. On the up grade, tHe
gransers touched the highest figures
reached in the present movement. The
improving outlook for the anthracite
industry and forecasts Of an advance in
prices TO take effect July l led 70 ma
teria1 gains in the stocks of the leading
producing and carrying companies, par
ticularly1 in Lackawanna- The week
closed with a sagging tendency 10
prices under the influence of realizing
sales, but the net changes are generally
In Sugar, Tobacco and New Jersey
Central, which figure for ia per cent
each The aggregate sales were l, 033.-
90 shares.
Railway bonds were firm but other
wise featureless. The market during
the week was fairly animated. prices
moving according 10 the Developments
bearing upon stocks. The comparative
figures show gains IN most cases ex-
tending 10 per cent IN Oregon I'm
provsment firsIs- The Improvements IN
the speculative issues were fractional
with the Readings prominent The ag-
gregate sales were s, 1861 01.
The market for government bonds dis
played marked strength on a brisk in
veSunent inquiry. The new fours rose
II per cent, to 11s4 per cent TIE 9th
81 gains were OF less consequences. The
final figures shows some slight reces-
sions from the top level The aggre
gate dealings we're s72S. 800.
Silver certificates were neglected but
the tone was steady. The sales were
$4,000.
New York. June co-The Evening
Posts London cab,esiam: The state
ment Of the Associated Banks OF New
York city for the week ending June 20 |
shows the effects Of two financial opz-- |
Stions-one the repayment earlier Fl !
The week OF about 8. 20o. 600 government |
money by the depository hanks on f. |
naucial bond account, and the other the !
s. 00o.co0 % gold exports OF one week
ago which were not included II the --a- |
vious statement The few hundred dol
lars Withdrawn several DAYS asD FOR
export were also included in the state /
meRt for the current week The banks |
therefore have lost direc-ly something
Ike $500 90 within seven days and |
against this the interior movement WIS
the only counteCacCing feature. TIE
decrease IN cash reported FOR TIE past /
week is an indication OF m extent OF /
the present interior movement, the flow
into banks having made ID g. larger po--
uoa OF the outgo. The decrease n the
idle reserve in vaults Is very moderate
in view 81 the heavy changes in the past
week The expansion il loans for The 4
week was sight but the demand for
money n view % the larger stock ex-
change transactions has been u1oSe--
ately drEle- and rates have respond ed
by a slight advance. The weakness N
foreign exchange noted AFTER Wednes-
day probably had its origin II ire sane
cause.
During the twelve weeks OF 1875. b.
ginning with April s. the loans OF The
New York hanks increased n round /
numbers SS2.S00.ooo. Tie Increase dur
-ng the S7ne PERIOD this year has been
auly *s.oo0.0 Co but while iepoS5-s in
creased IN the same ps-iod last year
nearly s14.ooo.eo0. the increase for TIE
corresponding term % 1SsS las been but
81 eco ,eo0
The greater part % The ao--oS-s vol
Ime o. money that flowed ITO New
York last year a. this tine helped %
maintain a heavy excess reserve and |
Kept mooey rates a. a Low ebb, despite
ne fact that TIE loan item exceeded AL
previous records This year me money
3owing % bond operations = gong mo
he treasury and as gold exports are rot
critically Stopped = large part las
seea released tor export purposes