The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-03
SURPRISED NO ONE
BALTIMORE AND OHIO COLLAPSE
LONG 10 KEO FOR.

Declared Insolvency of the Company has
its Natural Effect in Declines in the
Shares and Bonds of the Company
Spanish Anti-Ameriean Demonstration
at Barcelona has q Pronounced Depress-
ing Enect-GenernI List suffers, Espe-
ciaIly In InternationaIs. Changers and
Sugar, But With Reactions.
New York, March 2-The share spec
ulation today was active and the move
ment of prices irregular. Sugar reach
ed the largest total OF any individual
/ stock. and a large volume Of business
was done in Tobacco but. as a class,
the dealing in the railroad stocks ex-
/ ceeded those in the industrials by con-
siderable amount. Marked depression
in prices was noted at the opening, the
contributing influences being chiefly the
news Of the anti-Americau demonstra-
tons by the populace at Bacelona and
other places in Spain and the formal de
claration of the insolvency OF the Bait
more and Ohio railway. The appoint
ment Of receivers for the property was a
surprise 10 but few people. as a long
chain Of unfavorable developments had
that event foreshadowed. The secur-
tiles Of the company nevertheless were
severely depressed. The stock sold
simultaneously at the opening at from
l61s per cent 10 1914 per cent.
There were also rumOrs 10 the effect
that 1000 900 Of its Western Union
stock had been secretly sold by the Bal
timore and Ohio management a year
ago. This story was also denied by
parties claiming TO be well informed.
Liquidation was pronounced IN Ten
I nessee Coal. that stock receding 81 per
cent on sales of 200 shares. The gener-
al list suffered 10 the extent of 1AG1H
per cent, the international shares, Gran
gers, and Sugar being most prominent.
The reactionary movement was soon
i checked and a large part of the loss was
h recovered. The market then again re-
acted on renewed firmness in the ster-
ling exchange market. A revival OF
strength was noted toward midday on
foreign and local commission buying
and covering by shorts. The improve
ments were most important In the high
priced industrtials, the grangers, Louis
vile and Nashville and a few of the
specialties. The gains extended 10 as
per cent in Tennessee Coal. Tobacco
sold up Ia per cent. but, on advices OF
further active aggressive measures by
the opposition TO the company. was
hammered down to 774 per cent on
heavy dealings. The general market
proved superior to the weakness in To-
bacco. but developed weakness in the
final and sold off generally on Hquida-
ton influenced by the anticipation Of
prompt action by the house on the Gu
ban belligerency resolutions. Specula-
ton left off weak in tone, although the
final prices, as a rule. showed but slight
declines as compared with last week S
closing figures.
The total sales of stocks today were
81. 1S4 shares. including: American To-
bacco, 10000; Atchison, 800: American
Sugar, $1,000; Burlington. 1860; Balti-
more and Ohio 1900; Chicago Gas. 400;
General Electric. 5000: Denver and Rio
Grande preferred 81 900; Distilling and
c. F., 5000; Louisville and Nashville.
%. 400; Missouri Pacific. 400: Pacific
Mail. $500: Reading. 4. 700: Rock Island
10, 100; St. Paul, $500; Tennessee c. and
L.. 500; W. and L. E., 1,400; Southern
preferred. $500.
Railway bonds were moderatively &C
tive, with wide fluctuations in a few IS
sues. The bankruptcy OF the Baltimore
and Ohio company was reflected in de-
cided weakness in its bonds. This same
development was responsible for an ex-
treme drop OF per cent in PittsburG
and Western firsts TO So per cent, with
a subsequent rally 10 SIS per cent. The
general market was irregular in the
early dealings, but became strong in the
Ia TO session in syrODafhy With the "a lIy
in stocks. The Northern Pacifics were
exceptionally strong and active and
good support was evident in Reading
first preference incomes and Atchison
issues.
Government bonds displayed decided
activity at the expense OF values. The
declines. however. were no material
The aggregate sales were S50S, 900.