The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-30
VALUES GO HIGHER
THE STOCK MARKET EXPERIENCES
CHANGE OF HEART.

Treasury Reduces the Premium On As
say once Gold Bars-Railroads and the
st. Louis Disaster-Advances In Bonds
Review of the Week.
New York, May 2s.-Speculative con-
ditions today underwent change and
decidedly improved tone prevailed The
Withdrawals Of gold for export tomor-
row fell short of expectations, amount
ing to only s., sO0, 600, which brings the
aggregate export for the week 10 s4,SOe,-
600. Today's engagements were offset
partially by the deposit Of 100000 in
gold by city bank in exchange for
greenbacks and by the payment OF $410,-
900 by a depository bank, under the
treasury call. The action OF the treas
ury department in reducing the prem
ium on assay office gold bars TO Il per
cent excited considerable comment and
ii is believed that had the reduction
been larger the shipments would have
been increased. The general market
developed strength at the outset, under
the influence OF higher London prices
and moderate purchases for foreign ac-
count. The advancing tendency was
stimulated later by covering purcha ses,
especially in the internationals. For
eign and local operates appeared to more
fully appreciate the great importance Of
the decision sustaining the legality OF
the Joint Traffice association. Sugar
was conspicuous for strength and ac-
tivity, gaining Ia per cent, to 123& per
cent. Consolidate Gas rose 219 per
cent on the dividend announcement.
Rubber shares We're especially weak.
The common broke per cent, 10 q per
cent, and the preferred 22s per cent, to
S01a per cent. In the final dealings the
stocks rallied IL per cent and 1 per
cent respectively. The improvements
in the leading railway stocks averaged
about a point, with the closing at the
best Of the day. The aggregate OF busi-
ness was, however, light.
The total sales of stocks today were
5000 shares, including the following:
American Tobacco, 4,200; American Su-
gar, 33,700; Burlington, 400; Louisville
and Nashville, 5000; St. Paul, 1900.
Atchison bonds rose smartly in the
closing trading and Oregon Improve
ment firsts jumped per cent on the
terms embodied in the reorganization
plan. which was made public today. The
consol fives, however, developed heavi-
ness and lost pa per cent on the same
news. Other bonds made noteworthy
advances. The sales were 81 ,073, 900.
Governments were a shade easier on
sales OF s17S,0
REVIEW OF THE WEEK.
New York, May 29-Bradstreet's
weekly Wall street review saps: Spec
ulative inactivity seemed to fairly reach
its culmina ton in the present week The
business of the stock exchange from day
to day has been in the hands of the
small traders, whose position changes
constantly, but who, on the whole, have
been sellers, with a consequent increase
in the outstanding accounts. European
interests have done little or nothing in
our stocks. The London market dis
played a further booming tendency in
purely home investments" and a dis
position to put both consols and British
railway shares to unheard-of prices.
The st. Louis coronado and consequent
damage to railroad companies property
was among the discouraging factors OF
the week, but the leading place in this
connection was taken by the continu-
ance of gold shipments and the reduc-
ton of the government legal tender re-
demption fund to about sos, 000, 900. The
to the legality of the new trunk line
combination has also had an effect and
would seem to strengthen the determine
ton Of owners of railroad securities to
hold to their possessions.
FOREIGN STOCK MARKETS
New York, May 2S.-The Evening Post
London cablegram says: The stock
markets today were active and buoyant
fhrnnQhn31t IN
national and provincial issues leading
the advance. The rise in English rails
is perhaps overdone. but in Argentines
a prolonged speculation is looked for,
as result of the expected scheme for
the unification of the entire debt West
Australian mines are steadily rising
kaftirS were better. Americans i'm
proved on the idea that when other
markets boil over Americans get a
squirt.
Small amounts OF bar gold are going
into the Bank of England, but continent
tai demands have probably not yet ceas-
ed. Money is dearer here.
The fortnightly settlement has been
satisfactorily concluded with no fail
ure.
The Paris bourse was firmer. the ef-
fects Of the anticipated rente tax being
somewhat discounted.
The Berlin market was quiet and
steady.
London, May Enclosing: Consols for
money 1888; for the account 113Is; Ca
madam Pacific 641z Erie 14ils; Erie firsts
preferred So per cent; Illinois Central
941e; Mexican ordinary 10; St Paul COM
mon 7s9s; New York Central SO; Penn
sylvania SIS; Reading 5I2; Mexican Cen
trail new fours ~. Bar silver 81 3-16d
pence per ounce. Money q per cent.
The rate of discount in the open market
for short and three months bills per