The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-09
MARKET is HEAVY
GENERAL NEWS OF THE DAY OF
LITTLE IMPORTANCE

Call Made on the Depository Banks for
Their Last -Four and a Half aIIIIions
But No Derangement In the Money
Market is Expected Therefrom-SaEsr
Prominent Among the Industrisls. Dee
TO Interest in Dividend Matters-whzt
Influences are at Work Among the
Raiuays-London Stock Market Easier
New York. June s-Speculation today
developed heayiness, which was largely
influenced by evidence OF HqCidations
in some OF the low-priced shares. The
news of the day having q general bear
ing lacked importance aside from the
treasury call on the depository banks
for the balance OF their holdings OF gov
ernt money, amounting 10 about $500
600. The withdrawal OF so large an
amount, following the recent call for
similar sum, is not expected 70 cause
any special change in the money market
a fact which is an extremely important
reflection upon the apathy OF specula-
ton in Wall street The inGuStriais
covered a wide range and in this group
Sugar was the most active. The street
had been MIXED the previous week and
today was undecided whether 10 bank
upon the declaration of an extra 6ivi-
dend by the directors or not. II is well
understood that the company has large
resources, but the speculative ability OF
its managers was also borne IN mind.
The recent apparent heavy purchases
by insiders and the advance in the stock
-.
for the assumption of an extra disburs-
ment- The declaration OF only the rsgu
lar tracunts OF Ia. and 3 per cent respec-
lively on the preferred and common
stocks and the report that an extra pay
rnent had not been considered, induced
general selling by the traders. under
which the price receded rs per cent.
LiQuidations caused material general
concessions. particularly the Northern
Pacific and ST. Louis Southwestern
shares. The pressure against the MAJ
ket abated for while in the afternoOa
and a moderate covering inquiry result
ed in some interests. Tobacco gained
is per cent. The downward move
ment was resumed in the last half hour
OF business. however, when recessions
to the lowest point occurred. The alb
sence OF any noteworthy large engage
ments OF gold for shipment 10 Europe
tomorrow had a momentary favorable
influence and was offset by statistics
exhibiting a considerable falling off in
the wheat estimates. The eastbound
business showed a decided increase over
IN movement of tn preceding week and
the news tended temporarily 70 sustain
values. New Jersey Central dropped
25s per cent, and Lackawanna was quot
ed at leo per cent, against 100 per cent
last weeks final sale. The final sale
was weak with important fractional
gains in leading shares.
The total sales OF stocks today were
81. S6s shares, including the following:
American Tobacco, 19, 500: American SUI
gar. 17.409; Burlington. 5000; Louisville
and Nashville. 1000: Northern Pacific
certificates. first assessment paid. $500;
ST. Paul, 200; Tennessee Coal and Iron,
$500; Silver certificates, co. 900.
FOREIGN STOCK MARKETS
New York. June s.-The Evening Post
Lodon cable gram says:
The stock markets today were neglect
cd and generally easier, in view OF the
general settlement which Will commence
Wednesday. Mines. however, the set
tiement in which will begin tomorrow.
were exceptionally good. especially KAT
frs, on the belief that Paris may take
up good many shares at the settlement
Americans were dull from start 10 fin
ish. on sales by wOrn-out bulls. the de-
pressing factor being the currency OUT
look in the United States. The Milwau-
kee Electric bonds brought out by the
margins have been over-subscribed here
The Paris bourse was firm and ac-
tive.
Teh Berlin market was steady but
stagnant