The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-01-16
CAUSES No FURRY
SYNDICATES VI HDRaWAL is n
KILLING NATTER

Any Inquiry as to Who VIII Take the New
Bonds il the Syndicate Doesn't, h
Rather the Expression % Curiosity
Than Of Incredulity, Since There Is O
Doubt That the Bonds VIII Go All "a.
Enough, Syndicate or No Syndicate
stocks Close Firm With Few Change
Bonds strong.
New York. Jan. 15.-Wan street was
agreeably surprised today TO find thai
the formal announcement Of the diSSo-
luton OF the world-fsmous government
bond syndicate was not followed BY any
sensa tionaI developments. The know
ledge th2t the new government loan
would. in the event OF necessity, com
mard the support OF the members OF
he syndicate. either individually or as
combined force, caused the news 10 be
received with equanimity. The volume
of business was light and the market
displayed a waiting tendency. This
condition may be set down 10 the un-
certainty that prevails in financial cir
cleS as 10 the probable course Of the
money market in the event OF indiScrim-
mate Withdrawals of gold from the
banks or the sub-treaSury, 10 pay for
allo;ments of the new government
bonds. As 10 the loan itself. no doubt
is expressed as to its being fully sub
scrfbed or even largely over-subscrib-
ed and the increased competition for
the bonds. owing TO the appearance of
-, y, T.
dividuals bidders, is expected to result
in very satisfactory prices 20 the treas
ury department.. The market, after an
early show of strength. in which the
granger and Rubber shares were quite
prominent, developed a sagging ten
dency due TO the doubts entertained in
some circles as 20 the way the market
would take the news OF the syndicaIe's
withdrawal. Sugar was attacked and
yielded ~ per cent. Losses in the gem
eral market, however. did not exceed
per cent, covering Manhattan. Tennes-
see Coal, New Jersey Central, Kansas
and Texas preferred. and the grangers
Around delivery hour an inquiry arose
for the industrial stocks, and especial
ly for Leather preferred, which scored
a net gain OF 27s per cent. The adj
vance in this stock was attributed TO
the covering of short contracts. 1t
tT-anspires that 1T has been decided o
reduce the executive committee from
nine to five members, the step 20 go in
TO effect at the annual meeting in Feb
ruary. There Is good authority for the
statement that the payment of scrip
dividend will no receive any considera-
ton whatever. Furthermore. when
the returns for the vars are carefully
collected there may be a fighting chance
for the collection of the regular quarter
ly dividend Of . per cent on the pre-
ferred stock. The company is opening
tanneries gradually and officers say
that the business IS improving both
here and in Europe, although the eX-
port demand is still light. Sugar and
Chicago Gas rose q per cent Tespec-
lively above the low points. The rail-
way shares made small fractional gains
The closing was firm at Unimportant
net changes.
A decidedly strong tone was appar-
emit in the bond market The business.
though moderate, was we'll distributed.
Transactions aggregated $1,40S. 600
The leaders in the Improvement were
Louisville, St. Louis and Texas con-
sol fiveS trust receipts, per cent; Ore
gon Navigation first, 3s4 per cent, and
Ohio Southern firsts, 2A per cent
Prices of governments We're irregular
at the opening but stiffened subse-
quently. The sales footed up $40.