The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-19
CLOSES AT THE TOP
DAYS STOCK MARKET IS a NAT
TER OF INDUSTRIALS.

/
the Railway Shares, Attended, Never
theless. by ACKNOWLEDGEMENTS of tn
Week Generally of an Encoura gin.
Character for Holders of Securities.
New York, April 1S.-Speculation to
| day centered in the industrial shares
| covering Of shorts being the chief mo
tive power. Only two stocks, Sugar and
| Tobacco, reached noteworthy activity
The dizziness in the regular railway Hst
can be figured from the fact that ST
Paul was most active in the group, with
/ only 3,400 shares. Substantial advances
/ were scored in the industrials as a re-
suit of the covering OF shorts referred
TO. Sugar was the pivotal stock, and
also led the entire market in point OF
activity Inside purchasers started q
rush by the bears with the effect OF
causing a per cent advance. Tobacco
jumped 3ss per cent, to ~ per cent, and
| receded TO l per cent. Consolidated
Gas rose 81 per cent, to I61. per cent,
on investment purchases induced by the
belief that all danger OF hostile legisla-
ton at this session in Albany was at an
the publication of reassuring advices re-
garding the earnings of the company.
The common gained rs per cent and
preferred Ia per cent. Manhattan was
well supported, advancing IL per cent
regardless of the decision rendered yes
terday in favor of the tax commission
ers. Despite the dullness in the railroad
list the grangers, Missouri Pacific and
Kansas and Texas preferred gained
sharp fractions and other important
shares improved slightly. The closing
was moderately active with prices rul-
ing al the top.
REVIEW OF THE WEEK.
The movement of the stock market
during the past week has in the main
been encouraging TO the owners and
holders of securities. The continued
and increasing ease of money, the more
seasonahle weather, the complete sub
sidence of apprehension of a revival Of
gold exports upon an extensive scale,
more favorable advices regarding the
crop indications, and fairly satisfactory
returns of railroad earnings, have all
contributed toward a more cheerful
speculative sentiment. Additional
gratifying developments have been the
disappearance of pressure in CONNER
cial paper on the market and a more
general disposition on the part Of bank
ers and money lenders to discount the
choice grades, and indications of a re-
vival of buying by commission houses
and by London. A noteworthy feature
has been comparative activity in a great
many Of the specialties and unusually
inactivity shares, but it is still to be re-
GREETED that the attention of operators
is more particularly bent upon the in
dustrials. Conservative financiers pre-
fere to take an attitude Of caution dur
ing the tendency of wild manipulation
in the industrials, while the standard
railway stocks are allowed to remain
so much in the background. They are
influenced by a desire to see more clear
ly defined the financial planks in the
platforms of respective political parties,
and also are disposed TO restrict invest
nents until the season has advanced
sufficiently TO enable an intelligent esti-
nate of the crop outcome to be made. |
Reports regarding the commercial stu
ltion are more encouraging, but there is |
still room for improvement, and in a |
great many cases, the backWardness of |
he spring has resulted in an accumula- |
ion of stocks. The opinion is general |
hat the Cuban difficulty will be treated, |
80 far as intervention by this govern |
nent Is concerned, with conservatism. |
officials of the great standard railway |
systems say that while the work of |
seeding delayed by cOpious rains in the |
great crop-producing sections of the |
country, that condition is very much |
more favorable than if early seeding
lad been general and the soil had lack
d the necessary moisture. The gains
.mong the specialties were material il
most cases, and in the railways, the /
and International shares re-
orded noteworthy Improvements. The
eavy and almost unprecedented glut
Z money in London encourages expec-
atoms of increased purchases of our
ecurities in the near future. Buying
or this account during the week includ-
d Southern fiveS, Erie generals, CheSa-
cake and Ohio fives and the AtchiSon
nd Northern Pacific issues. The ad-
ance in prices eliminated on Thurs
ay, and in the ensuing days general
Moderate reactionary movement occur
ed, due chiefly TO realization Of profits.
he upward movement, however, was
esumed on Saturday. when coverings
shorts advanced prices, and the clos
lg was at about the top lev FL. Sugar
yas the main feature Of the speculation
nd advanced 81 per cent, 10 125s per
ert Subsequently. profit taking
aused a reaction 10 123 per cent, but the
took left off at 1851 per cent. The early
losing Of the books for the dividends
n Tobacco and a decided scarcity of
ne stock for loaning purposes, a prem
I'M of Il per cent being exacted for use,
aused an advance of 21a per cent, TO
~ per cent. Revived rumOrs of iniunc-
ons resulted in a decline to 81 per cent.
ne first transaction of ex-dividend was
| Il per cent, against 81 per cent, the
-evious days closing. Later a decline |
ccurred TO 67A per cent, then a rally TO
per cent The final transaction was
. II per cent Trading in the scrip was
otable, but on a parity with the price
; the stock. The Lead shares were ex-
.ptiOnally strong on improved trade |
)nditions and expectation OF a divi-
end disbursement on the common |
ocks. Settlements between the North
n Pacific managers and th. Chicago
nd Northern Pacific interests and be-
veen the St. Louis and San Francisco
ID Atchison interests regarding mat .
rs at issue and the reorganization |
an OF the Atchison require mention.
he aggregate sales were S70.941 shares.
BONDS.
Trading in bonds today footed I'D
o. 600. an unusually large total for a
iturday. The market was firm and ]
light gains were noted in some issues.
The market during the week ruled
CHER and was favorably affected by :
reign purchases and by a good local
vestment- Southern fives exception
" gained 5 per cent Material i'm :
'ovsment was also Scored in other
ointment bonds The sales were So /
0 600.