The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-17
MARKET is NARROW
STATE OF AFFAIRS SADDENS con-
SENTATIVE OPERATORS
Bona Eide Investors Made TimId by the
Concentration of Interest on One Spe-
cialty or Another-sugar Absorbs More
Than Ope-Thlrd of the Dealings, With
sharp Advance and More Predicted by
the Pooi-Deaiings In Eaiiwzys-Lon-
don in Both Share and Bond Markets
Sterling Exchange Easier.

New York. April 1s.-Although the
volume Of business in stocks today was
not large. the undertone was strong
throughout and the character Of the
dealings was improved by a further in
crease in dealings by commission
houses. Conservative operators con-
tinue. however. 10 regret the lack OF
broadness and the relatively inferior
position Of the fegular railway list In
their judgment the concentration OF
speculation in this or that industrial
renders the bona fide investor timid. al
though il is hoped that the heavy &C
emulation of money at this center may
redirect the attention Of actual buyers
10 IN securities market. Today Sugar
figured for nearly one-third Of the entire
dealings, recording 81. 400 shares The
pool in this speciality continues 20 be
active and its members predict $50 or
higher for the stock An element OF
danger in the situation is that every
other man in Wall street is a bull on
Sugar. The upward movement today re-
suited in the covering Of a considerable
amount and many bear stop loss orders
were reached. In the Sugar trade. pre-
dictiions OF a further important advance
in the price Of the product are made.
Today the raw grades were marked up
y pence. The extreme advance in the
stock was 21z per cent. bringing the
price TO 1855 per cent. The closing was
at a fraction from the high level. The
trading in the general market embraced
a number of the usually inactive shares.
London was alternately a buyer and a
seller of this market and also purchased
our bonds 10 a moderate extent. Erie
firsts preferred rose 2 per cent and a
block of the general lien mortgages was
also taken Buyers of Southern fives
and Northern Pacific and AtcShison is
sues was likewise credited 10 Europe.
The market moved irregularly and al
though there were several conspicuous
~ weak spots, the general trend Of
prices was upward. Lead shares, COM
mon and preferred, were prominent and
made substantial gains on reported fav-
orable trade conditions. The buying
was also attended by conjectures that
at the regular monthly meeting OF the
directors, held today, a dividend on the
common stock might be declared. AS a
matter OF fact only routine business
was transacted and an official of the
company Informed representative Of
the Associated Press that the question
OF a dividend was not discussed. The
common sold up rs per cent ard the
preferred 212 per cent, closing at the top
notch. The sterling exchange market
displayed an easier tendency but a
temporary decline in the price Of call
money to 21z per cent was not hailed
with unmixed satisfaction, the low fig
ure serving 10 accentuate the dullnesS Of
general business. II is gratifying to
note, however that there is no pressure
OF any description of commercial paper
on the market and choice names that
some time ago were not sold below per
cent and over, are now quoted at 5is
per cent and exceptional cases at per
cent. In the great crop sections delay
in seeding is more than Offset by the
abundant moisture In the soil. In the
railways. Missouri Pacific was unusual
ly active and rose rs per cent, with a
subsequent partial recession. The fiuc-
tuationS in other leading shares were
mainly fractional The closing was
steady, with irregular fractional net
changes In rhe active list.
Bonds were active and strong on for
eign purchases. Notably, fractional
gains occurred in the speculate issues.
Jul III dClANt JULIUS SoLle 8lhpbfLdul du-
vances were recorded. The aggregate
dealings were &, 462. 900.
Governments ruled strong .on pur-
chases Of s115,0 200.
Philadelphia, April 16.-C1earings ST.
747. III; balances 81, 562 sos.
Chicago, April 16.-Clearings SIG. 1885,
237: balances 81, az. 294.
st. Louis, April 16.-Clearings 1885,
s94; balances $472. 614