The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-07
GOES STILL LOWER
BALTIMORE AND OHIO ACHIEVES 5
Kew RECORD.

Other Chief Points of Interest on the Stock
Exchange Concern the Industrials-To-
bacco Weakest and Second In Activity.
Holders Becoming Discouraged-Move-
ments of Rubber and Chicago Gas
Railway Speculation Generally Untnter-
estinE-CIoss at Fractional Net Losses
Railroad Bonds Easier.
New York, March 6.-Aside from a
new low record established by Balti-
more and Ohio, the chief points OF in
terest in today's stock market were
confined TO the vagaries OF the indus
trial shares. The movements in this
class OF securities, however erratic or
inconsistent with the supposed facts.
are invariably attended by more or less
ingenious gossip, although quite fire.
quently manipulation pure and simple
causes the uctuations. Tobacco, by
large majority, exceeded any other in
dividusl stock in point Of activity and
was a close second in extent OF weak
ness. The most reasonable inference
that can be drawn from the course o.
this stock is that people who have been
hoping that the fight between the man
agement and the outside concerns will
be wound up, and who have held on TO
their securitines, in the belief. are get
ting worn out and are dispOsing OF
their lines. The expectation OF an ad-
ditional issue of preferred stock also
exerts unfavorable influence In the
early speculation the prices were with
in fractional range, but after midday
there was continuous pressure against
the shares, resulting in decline of 3
per cent. The Rubber shares. common
and preferred, were forced down 2Ss
per cent and per cent respectively on
renewed liquidation by interests op-
posed 10 the present management.
The common stock subsequently recov-
cred all Of the loss on covering by
shorts and some supporting orders
by insiders. Chicago Gas rose an inn
portsnt fraction, but afterwards drop
ped IL per cent on selling by traders
on the announcement OF the postpone
ment until October Of the proceedings
in the mandamuS application against
the secretary Of state Of Illinois. The
speculation in the railway list, aside
from Baltimore ana Ohio, was unin-
teresting. The stock mentioned touch
ed the lowest point ever reached. Us
per cent from Yesterdays final price
Subsequently, IN the face Of the de-
preston in the general list, the shares
developed rallying power. making up
one-half of the loss. The assignment
Of one of the largest mercantile firms
in the country in IT. special line was not
credited in the speculation. The usual
Cuban scare news from Washington
was. however. improved by a. show Of
eanestness on the bear side by the
traders, but the losses effected were un
important The market stiffened
slightly around midday. but thereafter
the selling movement again ruled. IT.
regularity marked the closing. but final
figures recorded general fractional los
ses.
Total sales OF stocks today were
Isl, 545 shares. including: American
Tobacco $1,000; Burlington and Ohio
81. 700; Chicago Gas $500; General Elec-
trio 5000; Louisville and Nashville TO-
900; Rock Island 1900: St. Paul 20.200
The general railroad bond market
displayed an easier tendency. The gen
eral concessions were as rule, unim-
pOrtant, however, and in some cases
noteworthy gains We're established. par
ticularly in Detroit fives and Northern
Pacific dividend scrip. extended. which
rose per cent each. The volume OF
business was below the recent averages
The total sales were $Ss, 200.
An improved tone was evident in gov
eTnments IN increased business. The
sales reached s402, 800. and slight frac-
uonal gains We're general
New York, March 6.-Money easy at
212q315 per cent; last loan 21zG3 per
cert; closed pas per cent. Prime mer-
camille paper 1895 per cent. Sterling
exchange steady with actual business
in bankers bills at $4.s73tG4ss for de-
mand, and $4s624 94s7 for sixty days:
posted rates s4S71s@4S9. Commercial
bills s4S614. Bar silver 6s2sc. Silver
ssh Gss per cent.
LONDON, PARIS AND BERLIN
New York, March 6-The Evening
Posts London cablegrsm says:
The idleness in the stock market con-
tinues. There IS no business except
for 1nves tment- The cheapness OF
money strongly favors a RISE but on
the other hand the political situation
and present high prices suggest eau
ton. The result is a deadlock The
y.
orleans were dull.
The Paris and Berlin markets were
quiet but weak.
London, March e.-Closing: Consuls
for money and account ZOE 3-1s; Cana
dian Pacific 567s; Erie 16iz; Erie sec
onds 75&; Illinois Central 90; Mexican
ordinary 23z; ST. Paul common 7sls i;
New York Central 1904; Pennsylvania
55A; Reading 81; Mexico Central new
tours "a. Bar silver 1916 per ounce
Money Il per cent. The rate OF dis
count IN the open market FOR three
months bills 1916 per cent
London. March 6.-The ambount of
bullion gone1nto the Bank % England
on balances today. 5000 pounds.
London. March Sold il quoted a.
Buenos Ayres at 2oO.SO; al Madrid 1875:
Lisbon %; s. Petersburg 80, Athens
"a: Rome 1I195; Vienna 1O3.
Berlin, March 6.-Excaange on Lon
don eight days sight 20 marks, A. pfen-
nings.
BRADSTREETS STOCK REVIEW
New York. March s.-Bradstreer's
financial review tomorrow will say.
Speculation has been more or less IN
settled al week by the action % -le
house and senate on the Cuban resolu- /
lions. and the fear that acute cornpll-
cations between our own and The Span
ish government might result. THIS
supplemented The effort OF the Balti-
more and Ohio 0eceivership. though -hs
latter event failed 20 have the bearish
influence upon the LONDON market tia.
was expected BY the trading element
IN Wall street L Is true that the col
lapse Of the important trunk line has
given blow % the growth % foreign
investment o. our securities. but 4
has no- caused active European sell I
ing. and az the worst the London mar
.cet remains Indifferent % Americans.
The fac. pointed out n another c1l-