The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-16

l tionals-Clostns Is weak 1t About the
Lowest-Basiness Light But Better Dis
trIbuted-sugar Leads in Transactions
Outclsss Amy other Group - Bonds
| Foreign Markets-week's Review.
| New York. May 1.-THE volume Of
| business in stocks was on a trifing
| scale today but a slight Improvement
| in regard to the distribution of the trad
| ing was noted. Commission house or
| ders were conspicuous by their absence
and the feature Of the speculation was a
sagging tendency on liquidation by tired
foreign and domestic holders OF securi-
| ties. AS group the industrial shares
were outclsssed by the railroad list in
| extent of transactions. although Sugar
| by far exceeded the total record for
any other Individual stock. There was
an element OF humor TO the disinterest-
ed observer in the attempted explana-
| tons Of the duIlness OF the market and
| the few labored movements that were
| noted. The decline received its initia-
| tive from Europe. Representative for
| eign houses received liberal selling or
| ders in the prominent international
| shares. Louisville and Nashville were
exceptionally weak under these offer
ings. The traders took their cue from
these sales and exerted pressure against
the list all day, making special efforts
| against some OF the specialties. The
gold engagements were only about
one-haif as large as had been expected,
amounting 10 81 600 900 on special Ger
man account. Houses that had been
expected to ship coin were said TO have
been able to cover their exchange on
| advantageous terms An interesting
development was call by the treasury
department upon the depository banks
for fifty per cent of their holdings OF
government money to be paid in on or
before June ! This will withdraw
from the channels OF circulat ton about
s4,5o0.Ooo and it is IN minated that a fur
ther call Of similar amount, cleaning
UP the account OF the bankers with the
government. may be made on or before
June Is. The call did not influence
the speculate ton and was not reflected
In the money market, owing TO the pie
thora OF funds at this center. both for
foreign and domestic account and the
the interior. The report of the Union
Pacific system for March was published
and was considered a rather favorable
exhibit. On the other hand the quar-
terly statement OF the Manhattan rail-
way, showing deficit OF dividend pay
ments. indicated a vigorous raid on the
stock, which dropped 2As per cent, 20
1924 per cent. Bay State Gas stiffened
fraction on the passage OF the Whit
ney Gas bill, in the Massachusetts leg
isleture but soon broke 21a per cent on
heavy realizing. Other gas shares were
notably weak, particularly Consolida-
ted Gas, which lost 25 per cent. La
Clede rose 3z per cent, declined per
cent and finally closed unchanged.
Buffalo, Rochester and Pittsburg pre-
ferred made further improvement to-
day to 81 percent on the reported ac-
QUESTION of valuable soft coal prop
erty. Sugar, Tobacco and Leather
preferred were the weakest of the high
priced industrials, selling of rs per
cent and is per cent, Tennessee Coal
dropped * per cent on liquidation but
recovered the fraction. The closing
was weak at about the lowest
Bonds were quiet and without notable
change in the leading issues Some
wide fluctuations occurred In the less
active mortgages. The sales were
$904, 900.
Governments advanced slightly on
dealings OF $4,000.
FOREIGN STOCK MARKETS.
New York, May 15.-Evening Posts
London financial cablegram:
Uondon-The stock markets were ac-
tive and buoyant but closed under the
hn In
creased activity and the big rise IN
West Australian mines Kafilrs were
dull All acchounts gathered as TO
the finance of the Chartered company
are far from favorable. but II is diff
cult to obtain anything authentic. Ut
is believed that fresh capital must be
raised. Consols were strong al IL
per cent and English rails were again
in favor. Americans were duh on the
disappointingly small response IN Wall
street yesterday 90 the squirt here. South
Americans, particularly Argenunes.
have been booming. but closed under
the best prices. Money IS stiH tight
The Berlin market was dull
The Paris bourse. which has been |
firm, closed weaker.
REVIEW OF THE WEEK.
New York, May 15.-Bradstreets FL |
nanciai Review tomorrow viii say: !
Speculative activity has almost ceased !
Tradings in stocks has been confined |
10 the four walls OF the board room and |
involves only the smaller class OF pro |
fessional operators. The fluctuations |
have consequently been unimportsnt |
and EXHIBIT no decided tendency or fea- |
lures of special interest. The some |
what exaggerated fears Of a possible I
rupture with Spain over the condemna- |
ton OF some American prisoners IN /
Cuba died cut after producing a slight |
bearish impression and 50 far as the 1
market can De said TO have displayed |
any tendency during the latter part OF |
the week. II was on the whole improved I
81 ghtiy. mainly on the covering Of short !
contracts. TIE continued shipment /
OF gold 20 Germany on special orders
OF course attracts sttention- The to- /
tai taken out Of 1he treasury and sent l
out this week was ;4e55,90o. TIE /
movement. while calculated 20 cheek 4
marked activity. does not. however. |
seem 30 have had any distinct effect |
on the market and Is Offset 20 q certain /
extent by the sympt toms thai London /
continues 20 exhioi; Of taxing e more ac-
tive interest in the American nnaxkst
proFIne1 u is s@G@-led re coming e4e-c-
ton viii result "a the supremacy % 4
sound money ideas a factor q son
importance has been the crop situation /
The government crop report for May !,
was more fzvoreo,e than was expected /
and Ire fac. 1aa- there have been b~n-
fetal rains IN sections whore .h~y sre-. i
needed has also tended % create Fur
.he- bgIIlsa sentiment under this had /
Francis Marion Williamson has gone 4
20 limos 20 visit his sister. His son.