The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-25
GAINS AT THE LAST
SHORTS COVERING TURNS A De-
OLINING STOCK MARKET.
ugar Most Active, and weakest-St. Paul
and Louisville and Nashville Sold for
London Account-Advance In Exchange
Rates is Viewed With Alsrm-Money
Market IL Slightly Conflicting
Crop Reports Appear on the Scene rs q
Disturbing Eactor-Improyemen In the
Railway List-Bonds sag.

New Yor, March 25.-Although the
dealings in stocks today showed i'm
provement over yesterdays record,
manipulation was no less potent an in
fluence. and the trading reflected indie
cision on the part of the professionals.
Business was indiferently distributed
but. although Sugar overshadowed any
other individual stock in point OF activ-
ity, the railroads attracted rather more
attention than the industrials as
group. London prices came lower for
Americans and foreign dealers sold Sc
curities, chiefly St Paul and Louisville
and Nashville, in this market. This
fact, and an early advance in foreign
exchange rates, had diturbing infiu-
ence upon prices. The strength Of ex-
change in the face Of the compa ratively
moderate demand, caused unfavorable
significance TO attach to the continued
foreign selling, which il was feared
might cause a rise in rates 10 the gold
export point. In addition. stress was
laid by the professionals upon the some
what unsatisfactory condition of rail-
road rates in the west and northwest
ment of corn. On the other hand the
money market exhibited a slightly cas-
Ter tendency and money lenders were
reported to be more disposed 10 buy
commercial papers. although the lines
as 10 the quality OF collateral were as
keenly drawn as ever. The conflicting
reports in relation TO the crop prospects
usually incidental 10 this time OF the
year, are beginning TO be noted. On the
one hand, II is said that the abundant
snowfall and rains all over the country
have improved the outlook FOR winter
wheat. On the other hand, il is urged
by authorities that considerable dam
age has been done 10 the crop owing 10
the rapid changes in temperature. 9th
er unfavorable factors are the pro-
longed uncertainty of European politics,
and the inf1amatory tenor Of the discus
sion in relation TO the Cuban question
at Washington. Liquidation was ap-
parent in a number of stocks, and the
traders Were on the alert for weak
spots. Besides being the leader in &C
tivity, Sugar displayed the greatest
weakness, offering little restance to an
attack based on reports of unfavorab BILE
trade conditions. The recessions in the
general list We're less important, and
ranged up 10 per cent in Tobacco and
Burlington. At the low level shorts
were liberal purchasers in the afternoon
dealings, and under the leadership OF
Sugar and Chicago Gas, the entire list
improved. The first mentioned rose to
lis per cent and the latter advanced
2A per cent, reacting fractionally at the
close. The improvements in the rail-
road list were within a range of 1 per
cent, with Burlington, Rock Island,
Louisville and Nashville and Manhat-
tan conspicuous in the rally. Specula-
ton left off strong in tone with slight
net gains.
Prices Of railway and miscellaneous
bonds sagged during the greater part of
the day. but towards the close there
were evidences of support in a few is
sues. The aggregate dealings were ST.
125, 900.
Governments were firm on sales OF
s267, 500.