The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-19
BEST COMES LAST
SHARES CLOSE AT THE TOP, WITH
RESPEOTABLB GAINS.

Volume Moderate, Distributio1 Nothing to
Boast of and the Professionals In Pos
session Except for the Transactions for
Foreiga Account, which are on the
Selling side-Gold Exports Increase the
Bearish Observation-Disclosures At
tacked-Shorts Covering Rallies the
Market in the Later DeaIings-Bonds-
New York. May 1s.-Depression was
quite pronounced in the forenoon spec
ulation. the extreme low points being
reached about midday. In the after
noon, the trading was dull and final
prices were at the best OF the day and
slightly above Saturdays closing fig
ures. The volume OF business was
moderate and the distribution indif-
ferent, the dealings being almost en-
tireiy professional. aside from the
transactions for foreign account Per-
sistent selling OF the international share
on European orders was a discourag-
ig influence in the early operations.
St. Paul being chiefly affected. despite
the second week in May Louisville
and Nashville, however, scored the
most important decline IN this group.
The selling referred 10 predisposed the
professional dealers toward the bear
side and the engagement Of 81 ,lo0. 600
in gold for export 10 Germany by to-
morrow's steamer caused them 10 re-
double their efforts, although larger
Shinn1aFfS has 70 h.
made. The chief points OF attack wer
the industrials. and material declines in
prices occurred in them on moderate
dealings. In this class the oldest fiuc-
tuations were recorded and in most in
stances the early declines were more
than recovered. Manhattan gave fur
Their reflection OF liquidation and on a
larger scale than usual recently. The
stock declined per cent at the outset
but the subsequent fluctuations trended
upward and rally Of IL per cent
from the lowest was made. Consoli-
dated Gas covered the most extreme
range. The stock sold on %. per cent,
10 1884 per cent. and subsequently
made a full recovery. Some comment
has been excited OF late over the rather
merciful course Of security that for
garded as one OF the settled invest
Tent securities. Sugar declined rs
per cent, being, aside from the gen
eral downward drift, especially affect
ed by unfavorable trade conditions The
stock remained at about the low point
the greater part Of the day but eventu-
ally rallied g per cent, to 122 per cent.
Chicago Gas was somewhat more active
than usual and was the leader OF the
upward movement in the late dealings,
a rally Of IL per cept succeeding the
early drop of a point. Louisville and
St. Paul and Missouri Pa
cific lost important fractions. but tn
each case the declines were recovered
and the last mentioned lexft off at a
net gain OF ~ per cent. The general
rallying movement was attributed to
covering OF shorts chiefly. and although
the market displayed decreased activ-
ity on the upgrade, some OF the i'm
established were extensive
The dealings IN bonds were in a COM
paratively small volume but a firm tone
was noted. Southern fives were con-
spicuous for strength on buying said
to be for foreign account The aggre-
gate sales were $685., 900. The principal
advances were: Baltimore and Ohio
fives and Union Elevated arsts "a per
cent; Union Pacific gold skies Pa per
cent and Southern fives rs per cent.
Governments were weak and frac-
tionally lower on sales OF $50. 900.
In state securities $4,000 North Caro-
lima consol fours sold at los per cent.