The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-06

New York, March 5.-The stock mar
ket today fell about 2O.O 900 shares below
Wednesdays record and business was
about evenly divided between the rail
way shares and industrials. In the
first class, Baltimore and Ohio, though
not ranking first in point of activity,
attracted the greatest attention, On ac-
count Of exceptional weakness. The
total OF TIE transactions was fairly
large. Anticipation Of radical treat
msnt OF the securities IN any scheme OF
rehabilitation OF the property, caused
renewed extensive liquidation OF The
stock. resulting IN an extreme decline
OF per cent, 10 1512 per cent, the lowest
point on record. The news OF the ad-
oitiOn Of the powerful interests 10 the
Ie-organiZa ton committee failed 10 eX>
,est any permanent rallying influence
8snd rumOrs were current Of probably
sas high as 80 per cent assessment on
The stock. 1t should be added thae
the reports bore no official authority.
In the industrials. Tobacco held first
place in volume OF trading and extent o.
1uctua ton. The primary cause OF the
animation in this speciality was the vary
ing gossip in relation to the contest be-
tween the company and the outside
manufac turers. The rumors OF a pro-
bable impending issue of new preferred
stock also exerted influence. An early
decline of q per cent was followed by
a rally Of ia per cent, due ostensibly 10
the announcement of an advance Of
cent per pound In the price OF the COM
pany's standard brand OF plug tobacco.
Subsequently a raid was made on this
stock, which resulted in a slump OF 29S
per cent. The final sale recorded a nee
loss Of point. Liquidation by insid->
ers was also believed TO be discernibls.
London operated in a small way on
both sides OF the market Comment Il
general over the fact that the apparent
dealings in this market for foreign ac-
count recently have failed 10 be re-
fiected in the exchange market, and the
inference is drawn that the original
source of the alleged foreign orders -
in Wall street. The initial prices were
antirreg ular. with the changes unimport
ant, but downward in tendency. This
london cables reported lower prices az
that center. The early course OF the
general list was erratic, but tending
toward a lower level. and the volume
of business was light. Subsequently
improvement occurred under the leader
ship Of a covering movement IN Burling
ton. The stock rose is per cent, part
ly on purchases by a speculative organi-
cation. Boston buying advanced Gene
al Electric l per cent. The balance OF
the list was without feature. aside from
adrop Of Y per cent In Rubber. on sales
attributed 70 powerful interests that
have Withdrawn from the board of di-
rectors. Later the loss was recovered,
but renewed selling caused a net loss OF
Is per cent In the final hour general
selling movement started, in which de-
clines Of 1G2 per cent from the best
figures were scored. The market clos
ed weak in tone at general losses, ex-
tending in some instances to a point.
The railway bond market was dull but
firm. The distribution of business was
fairly good, and in some cases decided
Improvement was noted. Northern
Pacific thirds were active and rose
per cent, but subsequently, lost most OF
the gain. the dividend scrip, extended,
jumped to so per cent and reacted 10 65
per cent. The net gains in the other
issues ranged between 1 and % per
cent, the last IN Duluth and Iron
Range firsts. The total sales were ST.
4O9, 900.
Governments were quite active, and
slight improvement occurred in the
price of the new fours. The transac-
tons footed up 1911, 500.
LONDON AND PARIS.
London, March 5.-The Bank OF Eng
lands rate of discount remains I'M
changed at 2 per cent.
The weekly statement OF the Bank
Of England issued today shows the fol-
lowing changes, as compared with the
previous account Total reserve. de-
crease $4,000 pounds; circulation. in
crease ass, 900; bullion. decrease 15s,s64;
other securities, increase So, 900, other
deposits. decrease 3S1 900; public depos-
its, Increase s9S. 900: notes received, de-
crease $50. 900; government securities.
increase $4,000.
The proportion Of the Bank Of Eng
lands reserve TO liability. which last
week was s3.s3 per cent, is now s1.S3
per cent
Paris. March 5.-The weekly state
ment OF the Bank OF France issued to-
day shows the following changes as
compared with the previous account
Notes in circulation. increase $3.50
600 francs; treasury accounts current,
decrease s.. OO0. 600 francs; gold in hand
decrease J.. 500 900; bills discounted, de-
crease 212. 555. 900; silver in hand, de-
crease 500, 900 francs.
II