The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-04-25
TENDING TO REACT.
DECREASED VOLUME OF BUSINESS
IN THE SHARE MARKET.

Industriais Take Leading Roles, Sugar and
Tobacco Starring Progress OF the
| Sugar Bounties BIZ in the Reichstas
Watched With Grea. Interest-NInesy-
| Two and One-Haf Per Cent of North
ern Pacific shares Await the Reorgzn-
ization Committee-RsiIwayB Bonds Less
! acknowledgements Improve
| New York. April PA reacti0nary
tendency in the stock market today,
| chiefly in the industriaIs. was attended
by decreased volume OF business so
| far as the general market was concern
| ed. A few Of the railway shares reach
/ ed respectable totals but the specuis-
/ ton centered in the induStrials, vita
| Sugar and TOoacco the star performers.
! The first named overshadowed the mar
/ ket in point Of activity. figuring for
o1e-fourth OF the entire transactions.
I Sugar shaded on fraction early on
| the news that the Germany sugar
/ bounty bill in the reidhstag had passed
its second reading. The latest modid-
cation in the bill has been in the direc-
| ton Of increases. The stock soon raj
lied rs per cent, 10 1257s per cent. but
I late in the day food OF sales depress-
ed the price Il. per cent, 10 121% per
cent. The depression reflected heavy
liquidation by insiders in bonds by op-
orators on margin. In The Sugar trade
il was stated that the passage OF the
German sugar bounties bill will amount
practically 10 a handicap on the Aemri-
can refner ABOUT 80 cent. The decline
in the stock developed late rumors OF
impending unfavora.ble legislation. IT,
bacco was prominent early and on
large purchases rose rs per cent. TO %
per cent. The advance was partly as
crEbed TO the reported shutting down OF
some of the opposition plants. a par
tial recession followed which late in the
day received momentum through free
selling by insiders and the price fell TO
701. per cent; the closing was at a rally
of about point from the low level. The
market as a whole moved irregularly.
but the tone was comparatively firm.
The dealings were more strictly pro-
fessional than has been the case for
several days past. The dealings in the
railway list were Insignificant as rule,
the changes recorded being in most in
stances confined TO fractions. St Paul,
Burlington and Reading were the most
active, in the order named. and also
covered the widest range. The raid on
Sugar and Tobacco in the late trading
caused a sympathetic fractional dscline
in the general market, which impaired
a heavy tone TO the closing. The man
ayers OF the reorganiZation OF the
Northern Pacific railroad today de-
clared the plan operative. holdings OF
over 921s per cent in amount Of the gen.
eral second mortgage bonds, general
third mortgage bonds. dividend certlfi-
Gates, consolidated mortgage bonds,
collateral trust notes, preferred stock.
common stock and northwest equip
ment stock, and Of Northern Pacific
and Montana railroad first mortgage
bonds, having been deposited. Holders
Of outstanding securities may still de-
post under the terms and agreement on
payment Of a penalty OF per cent ON
bonds, dividend certificates. notes and
equipment stock; on Northern Pacific
preferred Il per cent and on the CON-
mon stock Il per cent. The full details
OF the settlement between the Northern
Pacific and Chicago and Northern Pa
cific companies were made public today
ticular from the outlines presented in
these dispatches. The net changes We're
generally a fraction below last nights
closing.
Railways bonds were less active but
were firm Some material gains occur
red in the usually inactive mortgages.
but the changes in the speculative is
sues were slight. The sales were 1,427.
600.
Governments improved on dealings OF
$751;. 900.
BRADSTREETS STOCK REVIEW.
New York. April 24.-Bradstreets
Financial Review tomorrow will says:
Bullish sentiments continue 10 animate
current speculation, the present week
having witnessed increased activity
and broader conditions as well as fur
Their improvement in price. though at
the close OF the week there were signs
OF WEAKNESS. The movements seem 10
be based upon a desire 70 discount the
anticipated revival of trade. but its
character Is also due IN a large degree
TO the example afforded by the recent
speculative revival in London and the
better standing which American secuTi-
ties are gaining there. The latter ten
dency, indeed, does not show Itself in
the form or any special foreign buying
OF securities. All that can De said IS
that the balance Of arbitrage transac-
tons between here and Europe is in our
favor. while there IS some foreign buy
ing OF bonds. One OF the features OF the
weak has, indeed. been the more or less
open assistance given TO the bull cam
palgn by the larger financial and specu-
lative interests. The disposition OF the
professional element - realize profits
naturally caused recession from time %
time, but Tot only was support extend
ed from the sources II question. but the
tangible Increase Of public interest and
purcha sing has been sufficient 20 alb
serb such offerings and maintain the
decided strong tone OF the market This |
OF the speculation with the
symptoms OF Increasing foreign inter !
est. creates a belief that the upward |
swing Of the market Il likely 70 con- !
Gnue <Or some time.