The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-12
PRICES FALL DOWN
THREE-F0URTHS OF ONE PER CENT.
Is The AVERAGE

Large Foreign Selling Orders In All the
Loadoa favorites Received at the
Opening, Together With News Of De-
cline OF Americas IN Loadoa Give the
Market its DeeIiaing Iends.ey-cub@n
Situation. With its Chances Of Compli-
cations Over the Competitor Prisoners
Cuts \ Great Flgure-BOnds.
New oYrk, May IA general decline
II prices averaging more than = Per
cent was recorded today and the mar
ket displayed more features OF interest
than IN several days previous The
above average loss was shown after
small general rally from the lowest. dur
ing the intense 6uIIness which prevailed
after midday. The room traders left
the street rather bearish in their ex-
pressions on the very evident absence
OF protection for the standard specula-
tIre stocks or the specialties from inside
interests The chief impetus 70 the de-
cIire was supplied by large foreign
selling orders in all the London favor
ties, which were received az the open
ing, together with a general drop II the
market for American issues n London
In the first half-hour. when most OF
the days losses were recorded. the Lon
doa houses were free sellers but before
Ihir orders could by complied the level
OF prices had dropped below the limits
placed upon the European offerings.
The weakness IN London. which was so
plainly reflected here, was induced by
the fears OF international complications
gr.swing out of the Cuban situation and
these were not entirely relieved by the
news OF the postponement OF final action
on the cases OF American citizens by
TIE Spanish ministry. However. the
Washington houses THAR sold the mar
ket freely during the morning were
among the large buyers az the close
Another matter which operated 70 IN
settle the market in no small degree
was the engagement OF 8. SOC, 600 gold
for export tomorrow. There was the
usual talk about special orders" and
unusual inducements IN connection
with the sentiments, but the plain fact
IS that there is profit in the shipment
ard exchange took the bills made
against them without developing any
reactIonary tendency. More gold will
undoubtedly be exported later IN the
Nt[hs OOL AOI NuE LC4L WEEK iuEf -
little better outlook for the exchange
market This statement is warranted
by the fact that there are being offered
in London by Brown Shipley & Co, for
account OF Vermilye & Co, OF This city.
the original purchaser. 81. 600 600 Of New
York City 80 per cent gold bonds AS
they are offered on a per cent basis,
there VIII in an probability be mar
kct found for them ard exchange 10 the
amount OF the sales made viii have 20
be made here against the shipment OF
the bonds Il IS currently reported that
another issue OF American railroad
bonds is 10 be placed IN London late
This week, against q portion OF which,
a. least, IL viii be necessary for the
vendors 10 draw exchange. The latter
operation viii amount 10 over 1900.
900. The Granger stocks were the lead
e-s in respect 70 the activity OF trade
and the extent OF fluctuations. their
1sverish tone being partly due 10 IN
Certainty as 10 the showing OF the gov
errment crop report The strength OF
Tobacco, due TO inside coverings, did
not cause any special strength in the
general group though Boston orders ad-
yanced Rubber, common and preferred
Money was easy on small transac-
tons.
The bond market was duh a,rd heavy
with sales OF s37, COO
Governments sagged slightly under
safes OF SIS, 900.