The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-23
SELLING IS BRISK
ALMOST EVERYTHING Is AGAINST
SHARE PRICES

Great Uneasiness Is Occasioned BY the
Abundant Rumors of Change of
Heart Cd the Part of the Administra-
tion Regarding the Cuban Question,
and Consequent Expectation of Dec
laration by the Executive and With
This Other Foreign Prospects Conspire
to Bring About Brisk Selling.
New York, June "A varsity OF in
fuences contributed 70 bring about
lower range of share prices today. Al
though nothing tangible was evolved
out of the mass OF rUmors that OBTAIN
ed circulation in relation 10 the Cuban
situation, enough uneasiness wac Great
ed on this point and regarding otner
foreign political complications TO starr
a brisk selling movement all along the
line. Local considerations Of depress-
ing character were also in evidence.
The engagement of $4,000 IN gold for
shtpmeut TO Germany came in the light
of a. displeasing surprise and In me
board room, ruInorS were current OF
impending action by the president upon
the Cuban question based on alleged
d3snatches from the special representa-
tive of the United States now IN that
country. The pressure at the outsec
was directed chiefly against the indus
trials and was coincident with a dis
NAV of firTmness in the railway shares,
due partly to moderate purchases for
foreign account, although the London
prices for Americans had shown sharp
declines from Saturdays closing ng-
ures. Tobacco broke per cent ana
other leading shares scored material
losses, which were, however, partly re-
covered in sympathy with the develop
nent of support IN Tobacco anu
through covering of shorts in other d.
rections. Tobacco rallied rs per cent
and subsequently moved In decidedly
erratic fashion. It closed at net loss
of IL per cent. The pressure against
Sugar was heavy midday and the stock
reacted 3% per cent, under offerings Of
long stock. induced by collapse in
European beet and other sugars, which,
in turn, led TO sharp reductions in the
refined grades of the domestic product
A leading bear operator was conspicu-
Gus In hanmerfng the short side, but
at times covering purchases caused
fractional Improvements The railway
shares were pounded fiercely in the
late session, particular efforts being
made against the grangers, Louisville
and Nashville and SouthwesteTns.
Stop loss orders were received and this
gave further impetus to the downward
movement and started liquidation in
various properties. The cOalers yielded,
! in common with the general market,
but the concessions were mainly frac-
tional, -the group being sustained by
the prospective advance IN coal prices
July l. Foreign arbhrage houses were
sellers of the principal international
stocks on a scale down and increase IN
commission house offerings were dis
cernible toward the close. The losses
| in the railway group extended TO "a
per cent in Kansas and Texas prefer
red. Other noteworthy declines Were:
/ Burlington and Louisville and Nash
Vile 21s per cent; St. Paul and Pacific
Mail, Leather preferred and Consoli-
dated Gas L.. per cent; Missouri Pacific
| I% per cent; Atchison preferred, Ten
nessee Coal. Lake Erie and Western
preferred and Bay State Gas IL per
cent. The closing was weak at about
| the lowest of the day.
Railway and miscellaneous issues
ruled sharply DOVER with meterial con-
cessions in some of the inactive mort
cages. The sales were sS74,000. The
more important losses extended to
per cent in Hooking Valley skies.
Governments We're quiet and irreell-
lar. The dealings Were $4,000. The
four5 were a fraction higher and the
new fours a shade lower.