The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-11
CUBAN TALK HURTS
WALL STREET KEEPS AN EYE OUT
FOE WASHINGTON.

Besides This Influence Is the Apprehension
Regarding the Possible Advance In
Sterling Exchange Rates as the Result
of the Course of the Money and tx
change Markess-What Sort of Play
the Treasury Might Make in such Event
-Industrisls MoDopolIze share Dealings,
Tobacco Occupying the Center.
New York, March 10.-Today's stock
market fell slightly below yesterdays
record in point OF activity and was
a purely professional affair. The de-
bate at Washington over the Cuban IN
pleasantness again overhung the spec
ulation and the sharp talk by several
of the senators had a disturbing in
f1uence in Wall street. Apart from the
Washington war talk, another import
ant consideration is responsible for the
continued irdisposition Of the outside
public to make ventures in the stock
market This is the uncertainty pre-
vailing in well-informed banking circles
as to the immediate course Of the money
and exchange markets. II is claimed
that the present easy rates for cali
funds will. If continued, have the inev-
liable effect of advancing exchange
rates to the gold shipping point. There
is reason 10 believe that 10 preclude
such a development, the treasury de-
partment Will call a sufficient amount
of the money due TO ii on government
bond account now lying in the bank
-
the money market. This. Of course,
would Immediately effect exchange
rates. The present speculation in Wall
street is being conducted almost entirely
on call loans. Incidently these condi-
tons react upon the market for COM
mercial paper.
The industrial shares practically mo-
nopolized the attention of the trade and
as usual the movements in these mer-
curial securities were erratic. Tobacco
was again the star performer and dis
played exceptional activity and strength
on buying for both accounts. An early
spell of weakness, involving a decline
of rs per cent, was succeeded by a
sharp rally of 3kper cent to 75k per
cent. Cotton Oil common advanced IL
per cent and the preferred pa per cent
on fairly good buying. Leather prefer
red on the other hand, was affacted by
renewed liquidation and exhibited 10
buoyancy. 1t closed at net loss IF
rs per cent. Boston was the largest
seller. General Electric was active
within a narrow range, closing I'M
changed. The recent bullish general
ties in relation to the property continued
to be served. Sugar occupied an unu-
sually negative position, only 400
i u - ..r
of 92,7O0 shares in TobOcco.
The general market opened firm and
fairly active. London quotations were
slightly higher although the business
in Americans at that centre is at min
imum. Advances of Il per cent in post
ed rates for sixty day sterling bills
failed to influence the market and
smart fractional advances occurred in
Burlington, Denver and Rio Grande
preferred and Missouri Pacific. The
raid on Leather preferred caused a
slight general break but on the declara-
ton of the regular quarterly dividends
on Manhattan and Northwest preferred,
and the recommendation of the eXecu-
tive of the Western Union of the regu-
lar disbursement by the full board to-
morrow, stimulated prices and led to an
advance in Manhattan of III per cent.
The late dealings were quite irregular,
as was the closing tone. Final figures
showed fractional net changes, in most
cases advances.
The total sales Of stocks today were
1S5, 200 shares, including: American To-
bacco $1,000; Chicago. Burlington and
Quincy. 500; Baltimore and Ohio. $500;
General Electric. 1900; Louisville and
Nashville, 500; Missouri Pacific, 800;
Ill n
Dealings in bonds were on a dimin~
ished scale, but a firm tone prevailed.
Slight gains occurred in several i'm
portant issues, notably in the Northern
Pacifcs. Aggregate sales were 81, 49,
O00.
Government bonds were firm on n
fairly large business, total Gales be-
ing s136,9O0.
FOREIGN STOCK MARKETS.
New York, March 1O-Evening Posts
financial cableSTam:
London. March 10-The settlement to-
day revealed a small account, and in
Americans in particular Contangoes
on Americans were per cent. The IN
dertone OF the markets was better. ex-
cept for mines. which are far. Amer
leans were near The BEST. Northern Pa
cific bonds continue n demand by Ger
many.
Paris and Berlin-Marke: quiet bu5
firm.
Amsterdam-M0rey rates advanced
here today and exchange on London Is
falling sharply, as a result Of which, eN-
ports Of gold from Holland are arrest
ed.
Berlin. March 10.-The weekly state
ment Of the Imperial Bank OF Germany
shows the following changes. as COM
pared with the previous account: Cash
in hand. decrease. 4,S20. 900 marks; treas
ury notes. increase $50. 600; clear securi-
ties. increase ALSO. 600; notes IN clrcu-
latiou, decrease 10 920. 600
BANK CLEARINGS.
Philadelphia, March 10-Clearings
SO, 755. s95: balances S1.721, 44s.
Baltimore. March 10.-Clearlngs 81
544. 81: balances s457. 090.
s. louis March 10-C1aarfnra e SO =