The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-03

New York. April 2-The extraordi-
nary performance Of the directors OF
the American Tobacco company at yes
terday's meeting was the absorbing
topic of interest in Wall street today.
Criticism of the dividend policy was
uncompromising. and the directors were
referred 10 in forcible terms; in fact,
agitation towards an investigation by
the stock exchange has already been
begun and rumors are also current OF
injunction proceedings 10 restrain the
payment OF the extra scrip dividend OF
20 per cent. The advance OF over per
cent in the curb bid price yesterday.
over the actual closing figure, led the
financial community 10 expect a bad
quarter OF an hour" for the shorts this
morning. and so. indeed, IL proved. AT
the opening simultaneous sales were
made on 5000 shares al % 10 81 per cent
as against S92. per cent, last nights
final sale The decline was under a
rush to realize. A rally 10 e31s per
cent. a reaction 90 s9Ia per cent and
another rally 10 s1ia per cent, all &C.
CURED within the first fifteen minutes
OF business, 900 shares being dealt in
in that time. The final price was az
S9% per per cent. or without change
from Wednesdays close. The stock
footed up more than one-half OF the
entire dealing. The general list was
almost entirely neglected pending the
manipulation in the Tobacco shares.
The opening vae fractionally higher all
around,in sympathy with improvement
in the prices Of American securities in
London. and OF some buying for that
account in this market. A reactionary
tendency soon developed. influenced by
the petering out of the Tobacco boom.
General Electris, disappointingly to the
bull traders in II, yielded a sharp frac-
ton, despite the news of the formal ex-
ecution OF the contracts between the
company and the Westinghouse inter
ests. A moderate buying movement
set IN at the extreme low point, which
carried values generally above last
nights level. with the grangers, Louis
vile and Nashville. Southern preferred
and Union Pacific most prominent. The
last mentioned was bought on eXpecta-
ton OF favorable action by congress In
regard to a settlement OF the indebted
ness OF the Pacific railroads he gov
eminent. Dullnessand irregularity in
a narrow range were the only features
of the afternoon trading. The dealings
almost throughout the list were of the
most professional character. No con-
firmation of the reported preparations
for the export of gold on Saturday
were obtainable today. the speculation,
however, rejecting a slight but unquo-
table stiffening in exchange. and in the
IA ties for call money. The greater part
of the loans made today were at 3la
per cent. but the market closed at 4 per
cent. This condition of the money mar
ket, according to experts on the values
of investment securities. was the prin-
cipal reason for the abnormally small
bids for the $4,000 of New York City
bonds and stock offered today by the
comptroller. No direct payment on
bond account were made at the sub
treasury, owing to the fact that the
fourth insallmen in the government
loan, which fell due early in the week
has been paid up. The market closed
dull and unsettled, but az slight net
gains as a rule in the railway shares.
Railway bonds were less animated,
but the tendency was higher. The
Northern Pacifcs led In activity and
advanced sharply on the approval OF
the reorganization plan by the foreign
bondholders. The sales were 81. l57. 900
some comment was excited over the
rather singular fact that no transac-
tons were made in governments today
on he board. Some over-the-counter
business was noted. however. Tomor-
row, being God Friday, is a holiday on
the stock exchange.
LONDON AND PARIS.
London, April 2-The weekly state
men, Of the Bank OF England issued to-
day shows the following changes as
compared with the previous account:
Total reserves. decrease 1895. 900 pounds
circulation, increase Lac, 900: bullion,
decrease 1874. 1852: other securities, in
crea Sc 1.024.0Oo; other deposits. decrease
1,50S, 900; noes reserve, decrease 2933.-
600: government securities, increase S.
900 pounds.
The proportion Of IN. Bank OF Eng
lands reserve 10 liability, which last
week was 62.13 per cent, is now 1924.
per cent.
Paris, April THE weekly statement
Of the Bank OF France. Issued today,
shows the following changes, az COM
pared with the previous account: Notes
in circulation. increase =. s25. 600 francs;
treasury accounts current, decrease o.
rs. roo: gold In hand. decrease 1875. 900;
bills discounted. increase 77.40o 900; sill
\ r