The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-11

Coming without Warning. the Report Pro-
duces a Panicky Season of no small
ConscqueSce-Hoidsrs Throw Over Sc
eurities, Right and Left - stop Loss
Orders Reached All along the Line aud
Great Unessiness Prevails-Later Oper-
atIons Include Period OF General Re
covery-Bonds Depressed
New York. June 1o.-waIl street to-
day was rudely awakened from the
iethsrgy which has recently prevailed
in its precincts, decided activity and q
semi-panicky condition being noted for
an interval IN the early afternoon. De
moralization grew out OF a stock job
bing report, emanating from Washing
ton. that President Cleveland was
about 10 send 10 congress a vigorous
message on the Cuban question. The
effect on the stock market was instan-
taneous and, recalling the values re-
sulting from the famous Venezuela
message. holders OF securities began 70
throw them over, right and left One OF
the largest commission houses was
liberal seller on the report and took
back considerable amount of various
stocks on the publication OF an authori-
tative denial OF the rumors. Stop loss
orders were reached all along the line
and considerable uneasinsss prevailed
owing TO the tension in financial circles.
The traders also made effective drives
at the list. bear leader who has not
been conspicuous in the market for
some time being foremost in the attack.
The losses scored at the extreme low
point ranged UP 81 per cent and the
selling was of a general character. The
market opened irregular but soon dis
played a gaining tendency. The special
ties again received particular attenti ton
from the traders and evidence OF hqui-
daiion OF inside interests was followed
by effective raids. The early losses in
the railway stocks. however, did not
exceed a point, except IN few in
stances. The market lapsed into dull
ness after the first hour, but a better
tone was noted and an improving ten
dency Of prices. The upward movement
illuminated about l o'clock, when the
bogus Cuban report referred 10 came
like a bolt out OF clear sky. the rail-
way properties being this time severely
depressed IN common with the other
shares. Missouri Pacific exceptionally
declined ~ per cent. Other noteworthy
losses al the low point included Tennes-
see Coal and Iron 2$4 per cent; 81. Paul
2Ss per cent; Atchison preferred 2@s per
cent; Louisville and Nashville and Dis
'tiiling pa per cent; Sugar, Burlington
and Lead preferred 21s per cent; Lead
common, Consolidated Gas, Kansas and
Texas preferred and New Jersey Cen
trai per cent; Pacific Mail rs and s..
Paul and Tobacco Ia per cent. The
pressure against the list subsidized
around 100 and the sentiment was
rather nervous. In the subsequent deal
ings a great upward movement develop
ed and recoveries ensued of Il per cent.
The close was irregular. In the late
operations rumors were rather conf
IDENTIFY circulated OF probable large ex-
ports OF gold on Saturday, ii being al
legged that nearly all OF the shippers
usually prominent in the gold move
ment were Offering bills agalnst exports
OF the yellow metal. No estimates were
made, however. The monthly govern
ment report, which. as usual, was not
published until after the close OF bust
ness, was about up TO the general ex-
pectations.
The total sales OF stocks today were
eco. IT'S shares. including the following:
American Tobacco II 500; American Su-
gar $500; Burlington 1880; Chicago
Gas $500; Chesapeake and Ohio 300;
DiStillIng $500; Pacific Mail $500; Read
ing first assessment paid 400; Rock
Island 100; st. Paul 2s.1OO; Tennessee
Coal and Iron 900; Wheeling and Lake
- Dnf 4
Pennsylvania 400; silver certificates
105. 900.
Railway bonds were depressed in com
mon with stocks. concessions of 1d3 per
cent being noted in the leading specula-
tive issues The general market left on
weak in tone. The sales were i.029. 600.
Governments were active and weak on
dealings of S160. 600.
The trading in silver certificates was
marked by the purchase OF a single
block OF 500. 900 at c. per cent by a lead
ing commission house. The aggregate
dealings were S1o5. 200.
FOREIGN STOCK MARKETS.
New York. June 10.-Evening Posts
London financial cslbIegram:
The stock markets were stagnant and
dull today, partly due TO the miserable
wea Their and also 10 the revelation in the
settlement OF a heavy bull account IN
English rails. which are fat on high
Continuation rates for
are only 2k per cent. but the
market was fat on lack OF support here
or from New York. American railway
bonds were also weaker. Kaffirs shared
IN the general dullness. II Is believed.
that In the absence OF any i'm
portant influence. cheap money viii
soon induce fresh squirt in buziness.
The Paris and Berlin markets were
rather duh