The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-24
RECEIVES A CHECK
STOCK MARKET PAUSES IN IT'S
BULLISH CAREER.
Matter OF Irresularity OF Movement and
spasmodic Activity Rather Than q Pro-
nounced Decline, Though the Result ID
Ciosiag 1t General Net Coscessions-
Burifngton AID 81. PaaI Active In the
Granger Group-Industrials,H However,
are First, A. . GrosP, with Errarie Flac-
tuations-Northern Pacific Bonds

New York. April IA further in
crease In stock exchange business oc-
CURED today. and the course OF prices
was irregular. Although the total OF
transactions was larger than for some
time past, the animation was spas
modic. The trading element played
on both sides OF the market. Buying
by commission houses was noted in
some shares and particularly in the
granger group. resulting in compare
tive activity in Burlington and ST.
Paul Missouri Pacific appeared 10
be manipulated by powerful inside in-
terests. The Industrial shares. how
ever, held first place. as a group. and
recorded the most erratic fluctuations
n prices.
At the outset the market was unfavor
ably affected by the failure OF London
TO respond 10 the improvement that had
characterized the late dealings here yes
terday. The street. however, regard
ing the depressing influence abroad OF
the revived Venezuelan discussion, as
exaggerated, paid but slight attention
TO the lower London quotations for
Americans. An early selling move
ment was directed against the indus
trials, with Sugar and Tobacco being
subjected 10 special pressure. The hea
viness OF these shares caused fractional
sympathetic recessions in the railway
list, but afr midday the bulls took hold
OF the market with renewed vigor and
substantial advances occurred. Leath-
er preferred was exceptionally strong
and gained pa per cent on buying by
brokers close 10 the management The
Cordage shares were worked upon ia
comparatively heavy trading. In the
afternoon dealings the industrials and
the grangers were most prominent.
Trading occurred in trust receipts for
Northern Pacific common and preferred
stocks at 1&q1I1 per cent, and 124l2Ss
per cent respectively. The bonds We're
also heavily traded IN, and advanced
sharply on the rapid progress OF the re-
organization proceedings. A strength
ing influence on the general market
was exerted by a report that the Repub
lican senatorial caucus at Washington
had decided 10 work for an early ad-
journment. Another encouraging fac
tor was the continued circulation OF
semi-official reports OF improved crop
prospects. nj the final hour rumors
were current that the injunction on the
scrip dividend on tobacco is 10 be serv-
ed next Monday. As a matter OF fact,
as stated ii these dispatches, the ad-
Journed hearing of the application for
an Injunction takes place on the day
mentioned. All the same the report
inspired a determined raid against the
stock, which broke Az per cent under
heavy sales. other leading industrials
and some Of the railway list were de-
pressed alphabetically. Leather pre-
ferred lost IL per cent, and General
Electric per cent. The market closed
weak at genral Mt fractional conces-
sions.
In the bond market Northern Pacific
issues displayed continued strength
and activity Some Of the usually in
active mortgages were alo conspicuous
for Improvement. The ST. Louis and
San Francisco issues and Cordage hrsts
were cases in point. Further foreign
buying OF bonds was reported, includ-
ing some OF the high class issues. The
sales were g, 707. 900.
Governments were neglected. but rul-
ed firm. The sales were Is 500