The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-14
THREE ARE ACTIVE
STOCK MARKET SUsTAINS rs
CHARACTER FOR TIE WEEK.

Tobacco, General Electric and st. Paul are
the Only Stocks NentionabIe for Activ-
ity-Action of the Market Continue
ton of the Preceding Days of the Week.
Which has Exhibited Dizziness. and Ex-
cIUsiveiy Professional Operzting-Tone
Strong Rather Than weak-Industrials
Furnish the Only Features.
New York, March 13.-The stock mar
ket today displayed decreased activity
as a whole and the dealings for the most
part reflected adroit manipulation. The
general tone was easier and only three
! stocks deserved special comment in re-
gard TO activity. These were American
Tobacco. General Electric and ST. Paul.
| The bulls received set back AT the
outset from the unfavorable character
of the London quotations for American
stocks and moderate sales were made
for that account in this market, chiefly
of Louisville and Nashville and the So.
Paul. The basis of the selling Of the
I last named was alleged 10 be the fall
Ire OF the directors OF the company 20
declare a dividend of PIG per cent on the
common stock. II is fair 10 state thac
the action met thew Jews of the best in
| formed operators both here and in the
foreign financial centres. The local ira
derS put out lines of shorts in a num-
Der OF the more prominent shares. In
| terest a the opening conferred IN Cen
eral Electric and Westinghouse COM
panies regarding the division OF territory
and other essential points. The stock
was variously quoted in the initial deal
| ings al 1912 10 5s24 per cent on 5000
( shares, as against the closing figure
Of yesterday. 372s per cent Subsequent
" free selling, particularly by Boston
houses depressed the price 70 S7ia per
cent. and the final transaction was at
| 37& per cent. The sagging tendency in
! this specially had a depressing effect on
| the general market and some substan-
/ tial declines occurred. Louisville and
/ Nashville lost rs per cent, Kansas and
| Texas preferred per cent. and st. Paul.
| Denver and Rio Grdnde preferred and
Northern Pacific preferred = per cent.
| The selling of the last named was most
marked and was Influenced by reports
purporting to forecast the plan OF re-
! organization and including alleged as
sessments Of SO on the stock and SO on
! the common. The safe arrival Of the
steamship Rio de Janeiro Of the Pacific
| Mail line, influenced an advance OF Ia
| per cent on the stock in the dealings.
| Substantially the improvement was lost
! but renewed purchases caused anoth-
er advance of = per cent at the close.
Around 1:30 O'Clock heavy purchasing
! orders were distributed which sent To-
| bacco up 3 per cent from the lowest.
/ The stock closed at about the top level
. > oh "a
was rumored that the manipulation was
/ the compel a beldted short interest 10
cover. The general market steadied in
sympathy with Tobacco and some slight
gains resulted. The closing was duh
/ and steady at general fractional con-
/ CessiOn<.
/ The total sales Of stocks today were
| 1880 shares. including: American
/ Tobacco. IS, 100; Burlington. 400; Bal
7 timore and Ohio, 400: Distilling and
1 Cattle Feeding. 600: Louisville. 400;
/ Pacific. $500; st. Paul, 1890; Western
| and Lake Erie, $500.
Business in railway and miscullane-
Gus bonds was restricted to 1914 900.
This market was sympathetically affec-
ted by the share speculation. but the
| losses scored were light and mainly con-
/ fined 10 the speculative issues.
Governments ruled firm and slight
! gains resulted in purchases of $4,000.
] RESVIEW OF THE WEEK.
/ New York. March 3-Bradstreet's
financial review tomorrow VIII say:
Intense dullness has regained IN the
general stock market during the week
Public and foreign participation have
been virtually nOn-existant. and the
trading has been entirely in the hands
Of professional opera tors of the smaller
type. Uncertainty about the action OF
! congress on various public questions
the lack of any decided revival OF ac-
/ tivity in trade. and the fact that crop
/ prospects for the coming season are
necessarily q matter of doubt, all tend
ii limit thes peculative markets move
ments. At the same time the tone has
been strong rather than weak, and tho
sole features have been supplied by
! eccentric denominations on the part OF
some of the industrial stocks. In all
such cases the movement OF prices has
been upward and the bear interest has
/ been the sufferer. the noteworthy In
stancs being furnished by Tobacco and
General Electric. As already indicated
I London has not been a factor in this
market. In fact there is a complete lull
! in speculation Of any kind there, the
g4ut or ldle money tendlEg 10 lpIte III
/ yestment into securities which have at
+ tanned abnOrmally high prices. British
/ cOnsOls this week were sold a 109 1913
I per cent ex-quarterly interest, being the
/ highest price on record. At the same
time there is som disposition IN London
| to pay more attention 70 the better class
of American securities. The attitude OF
! congress and fears connected with the
approach of our presidential canvas,
seem 20 check buying from that source
and the formicntly settlement on the
/ London stock exchange, completed this
week. showed remarkably small &C
count open IN Americans.