The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-27
SUGAR LEADS AGAIN
INDUSTRIAL GROUP MAKES UP THE
STOCK MARKET.

Besides Sugar, Which is on the Aggressive
and Scores Gains, Leather Preferred
Becomes Prominent and is Subjected to
Extensive Liquidation, While Tobacco's
Early Loss is Partly Made Up Later
Railway List Suffers NegIect-Raiiway
Bonds acknowledgements on the
sag-SiIver Certificates Quiet.
New York, June 26.-The speculation
today was practically monopolized by
the Industrial shares. Sugar led the
market and figured for over one-half
Of the aggregate dealings 1t displayed
aggressive strength the greater part Of
the day and more particularly at the
close, when the price rose TO 116B per
cent on heavy transactions. Although
the movement Of the stock IS motor
i0usly independent Of trade conditions,
as a rule, today great stress was laid
upon a pronounced rally in the prices Of
foreign and domestic sugars. An early
advance of u. per cent provoked an out
pouring of realizing orders, which re-
suited in a reaction Of rs per cent, 10
113% per cent At the low point inside
support was apparent and this stimulus,
with a brisk inquiry from the shorts, in
fiuenced a gradual upward movement
70 the high point noted, although the
advance was checked 2 times by renew
ed profit-taking. Leather preferred
came into prominence after its long per-
iod Of neglect and displayed decided
weakness, which was mainly due TO
pretty extensive liquidation. Brokers
close to the management prOfessed TO
have no knowledge Of any news to &C
count for the depression. The stock
broke 25s per cent, TO 575s per cent. In
the late dealings a sharp covering
movement carried the stock to 593s per
cent. Tobacco appeared TO be sympa-
thetically affected by the early depres- !
sion in the two first mentioned stocks
and fell 15s per cent on conflicting Cos
sip as TO the dividend prospects for
next week Part Of the loss was made |
up subsequently,. The railway list was
practically neglected but was mildly ir-
regular. Lake Shore. exceptionally, !
jumped 8 per cent, to 1913 per cent, while |
Long Island dropped . per cent. The |
general market opened a shade higher |
all around and was helped by improve |
ment in the London market and a mod !
crate foreign inquiry for the interna- |
tiOnal shares. The weakness IN the in |
dustTials soon checked the rising tend |
ency and concessions occurred which |
carried prices a shade below yesterdays |
closing figures. In the last hour cover |
ing caused a rally 10 a fraction above !
last nights final sales.
The total sales Of stocks today were |
225. 435 shares, including the following:
American Tobacco 21,700 shares; Atch- |
json $500; American Sugar 137, 100; Bur- |
iingt0n and Quincy $500: Louisville and |
Nashville 5000; Missouri Pacific 300; |
st. Paul 1900: Silver certificates $50. 600. |
Railway bonds were irregular with an |
easier tendency IN the speculative is |
sues The losses noted were mainly |
fractional and conspicuous improve |
ments were recorded in "A few bonds, and |
New England skies, which |
rose 35s per cent, and Consumers Gas |
of Chicago firsts 212 per cent. The sales |
yere 68S, 600.
Governments were inclined to sag, the
new fOurs reacting Il per cent. Deal
ings were $4,000.
Silver certificates were quiet, with |
transactions Of $4,000 at 691.@6g%.
New York. June 26.-The Evening |
Posts London caf1legram says: Except !
Cor home railways. which met with a |
good investment inquiry, block markets
here today We're quite featureIess.
Americans were inclined to drop, but
there was no pressure to sell. Most Of
the jobbers have closed their books for
the week. The continental bourses were
equally undressing
REVIEW OF THE WEEK.
New York. June 26.-Bradstreets re-
view of the stock market tomorrow will
FAY: The week opened with rather a
sharp liquidation of weakly held long
stock. brought about by a report that
our relations with Spain IN regard to
Cuba were at a critical point The
break in the market on Monday reveal
ed stop orders and the downward course
Of prices was only checked by covering
IF the short contracts, apparently put
out by the same interests which had
produced the war scare. The folsty of /
this report being demonstrated the mar
let showed a tendency to rally. This.
however was checked by a demonstra-
Vion on Sugar stock. which for the bal
ance Of the week was the feature of the
entire market. It broke from 12l7s per
cent TO ll3 per cent. Tehere was heavy
liquidation in the stock, which the street /
MAS prompt to aScTibe TO the inside in, |
JereSt, but II would seem that the So
called pool is'more likely to have real
tied profits on their speculative holdings
when the price was above 129 per cent.
AT the decline sugar prices a demand |
seems TO have developed. and on Friday
all grades were advanced The stock.
however is very nervous and erratic and !
the street Is somewhat under the impress
sion that it has been made the victim of 1
another Of the long list Of manipulative /
scoops" for which sugar Is famous. or
Infamous. on Friday, near TO the close
by the shorts, enforced by ma
carried the price Of sugar 10 |
a161s per cent. The activity in sugar
had a tendency to withdraw attention /
from other parts Of the list The pro-
nounced declines in the early part Of the /
week were well distributed but were /
most noticeable IN the short and bull |
list.
THEY'VE GOT 4 CLUB, TOO
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