The Wichita daily eagle., 1896-04-22
KEEPS UP THE PACE
STOCK MARKET EVEN RISES SUPER
LOB TO REALIZING.
Volume of Business Large and Fairly
Spread Out-Railroad Stocks Hold
Their Own Moderately We1-Ameri-
cans Higher In London and Some In
garry on This SIde-Further Weakness
In Sterling Exchange Rates-Late Pres
sure Against the Grsngers - Close
Steady-Bonds Active.

New York, April 21.-The incipient
bull market in stock exchange secu-i-
ties was subjected 10 the test OF real
whole proved superior 10 the liQuida-
ton. The volume of business was large
and fairly wei distributed, with the
railroad stocks holding their own COM
paratively well in point of activity. The
sharp upward novem cnt in prices that
was in progress at the close OF business
yesterday was resumed at the outset
today and on an increased volume Of
trading. A favorable influence was ex-
erted by higher prices for American
securities in Lt Ddon AID a moderate
inquiry for tina. account in this market
was also remarked. Another encour-
aging factor was further weakness in
sterling exchange rates, including re-
duction of y cent in the posted hugTes
by one leading drawer. The gains II
price, however, were fractional .n most
Of the leading acFiye shares. In the
specialties, more material advances oc-
CURED. There was some Regularity in
prices in the forenoon session and IN the
later dealings a general reaction de-
veloped in which London was conspic-
uous for sales Of the in,erna tiOnally
listed stocks. TIE trading element was
inclined TO work for a reaction but al
though the offerings We're well taken.
a decrease in commission house buying
was noted. Coverings by shorts pre-
vented the material losse in all but
few instances. Sugar ran off ia per
70 L,.N
were buyers at the low level. The stock
again led the entire list in extent Of
trading. Tobacco gained a slight frac-
tion in the early dealings. despite the
application to the New Jersey court
for a temporary injunction restraining
the management from paying the re-
Gently declared dividend. The scrip
ruled al about 73 per Get, without much
trading in IL. The stock declined rs
per cent but subsequently advanced is
per cent, closing with net gain OF l
per cent. The publication of the re-
port of the General Electric company
for the fiscal year ending January 81,
was not reected In the market price Of
the stock. The reduction in the deficit
amounting to sS77. .64s, had been dis
counted by street experts. The substan-
tial progress made in the re-adjustment
OF Northern Pacific affairs was reflect
ed In strength and actively in the pre-
ferred stock. A raise OF IL per cent
in IL followed by a loss Of about half
OF the improvement. Baltimore and
Ohio declined 2 per cent on the prospect
of the impending issue OF a large
amount OF receivers certificates, and on
unconfirmed sensational statements of
irregularities in the former reports OF
the company's finances. Part of the Of
ferings were traced to Baltimore. The
upward movement in Consolidated Gas
was checked by Albany reports Of the
probable passage of 81 gas bill at
this session. The stock dropped 21z
per cent, TO $50 per cent. closing at
161 per cent. In the late trading con-
siderable pressure was brought against
the grangers. The closing was steady
with irregular fractional net changes.
The bond market was active and for
eign buying was noted in the prominent
issues. The Northern Pacifics and Atch
isons recorded Improvement, and ad-
vances occurred in other directions.
The sales were 81, ass. 900.
An increased inquiry for govern
ments for investment was reported. re-
sulting in advances in the new fours
10 11S% per cent. The aggregate deal
ings were S11 900.