The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-07
TRYING TO PICK UP.
BUSINESS CONSIDERATIONS HAVE
DAY ON THE STREET.
Opening Active and Commission House
Buying in Moderate Wsy-Seutraliz-
ing Influences Against the Sterling
Exchange Situation-Railroad Returns
Encouraging-Anthrac Coal Trade
Good Show for Iron and Steel-Tobaeco
Loses a Point-Keaction on the Cuban
Resolutions Passage.

New York, April 6.-The stock mar
ket after noon displayed an irregular
course. The opening speculation was
fairly confident in tone and commission
house buying on a moderate scale was
apparent, the Improvement being due
20 businesslike consideration OF infiu-
ences having special application upon
certain Industries and properties The
limited demand for exchange, IN the
face Of an easy money market neutral
lied the effect Of the high rates Of ster-
ling exchange and in some circles The
belief was current that little II any gold
in addition to the $500 900 10 be forward
ed by tomorrow's steamer, would be
shipped this week. Railroad returns
are encouraging. The anthracite coal
trade is being handled from business
point of view and the outlook for decid-
ed Improvement in iron and steel and
tributary markets is very good The
initial trading was fairly active and the
distribution of the transactions reason
ably good. Tobacco moved in sharp
contrast 10 the general market and al
though an early concession OF is per
cent was fully recovered, the stock dis
played a ss aging tendency and eventu-
ally closed at net loss of a point. The
gains noted in the early dealings were
most marked in the specialties. Colo
RADIO Fuel rose 2A per cent and TenneS-
see Coal and Iron and Illinois Steel is
per cent on the trade considerations re-
ferred TO. Manhattan Elevated advan-
ced IL per cent on renewed discussion
of negotiations for control of the prop
erty by outside interests. Sugar and
! Missouri Pacific gained about a point
and less important advances occurred
in other shares. Toward midday the
market developed a reactjonary ten
dency on anticipation Of the passage OF
the Cuban resolutions in the house, by
a very large majority. Realzations
were general and the traders made ef-
fective raids upon prices. The pressure
10 sell carried the entire list below Sat
urday's close. Louisville and Nash
vile was unfavorably affected, aside
from the general tendency OF prices.by
a decrease In its earnings for the fourth
week in March, of $40. PIG. and decrease
for the month OF 1864. Manhattan
suffered from denials by officials OF any
| impending change OF ownership Of the
property The stocks named, the gran
gers and Tennessee Goal were freely Of
fered, and declined to 10 1& per cent
from the early high level The closing
was weak and at the lowest OF the day.
| The general net losses extended to a
point in a number of shares.
| Bonds were strong m the early deal
ings, with Northern Pacific and Mon
tana firsts trust receipts leading with
| a gain OF 21s per cent In later dealings,
however, the market weakened in SYM
4 In, rrs4lyd ov11
/ closed easier in tone, with the Northern
| Pacific and Texas Pacific issues under
pressure. The sales were 81, 019.OO0.
overnments were quiet and steady on
sales Of $4,000.
The dealings in state bonds amounted
| to only 1000 of North Carolina consols
| tours at los.