The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-20
The aaaehita 4alu Eagle Saturday zFurmlms gmm 70
RUNSAFTER LONDON
STOCK MARKET TAKES ITS CUE
AGAIN FROM ABROAD.


AGAIN FROM ABROAD.
Cables Thence are Higher and There Is
Foreign Buying on This side-Teunessee
Coal, Tobacco, Sugar and St Paul
Achieve Note In the Deaiinss-Generai
Market Closes Firm with Fractional
Gains the Rale-London Breatbes Ess-
Ter on the Geld Bond Qnestion-Ameri-
can Railways Lively Abroad.
New York. June Is-The local stock
speculation again today followed the
initiative OF LAMBDA Gables from that
centre were higher and purchases We're
made also in this market 10 8 moderate
extent The amount OF business was
smaller than on Thursday and only
few OF the leading stocks were cOnsplc-
uous in ponit OF activity. The initial
gains were more pronounced IN the
speciaities Tennessee Coal figured for
Is per cent and Sugar for l per cent
Tobacco was decidedly strong and pro-
gressed TO ssH per cent. a gain OF Sis
per cent, on manipuiaTive orders and
rumors OF the probable early disburse-
nent OF per cent The short inter
est took warning and covered freely.
The speciality in question absorbed the
greater part Of the speculative interest.
especially dn the late dealings. although
ST. Paul slightly exceeded its total.
The extreme advance was not sustained
owing TO reahZations. Tie general
market ruled firm without special fea-
lures and early exhibition OF strength
was succeeded by a reactio0ary move
ment around midday which caused re-
cessions below yesterdays final sales.
This condition ruled only temporarily
as values later gradually appreciated
to near the previous highest points.
Weakness developed in Rubber prefer
red in the final hour, resulting IN a de-
cline of per cent The disposition
in this stock and an easier tendency in
several other Industrial stocks did not
affect the general list, which left of
firm IN tone with fractional gains in
most cases.
Railway bonds were quiet and with
out special feature except IN break
of 21s per cent IN Brooklyn elevated
firsts. and per cent on Oregon I'm
provement consoi fives. The general
tone was firm and some slight gains
were scored in the more active specula-
tive issues. The sales were 81. 0l0. 900.
Governments were irregular but the |
market closed fairly steady on dealings |
of $4,000
FOREIGN STOCK MARKETS
New York. June 1e.-Evening Posts |
London financial oablegrar:
There was continued etagnasion tn /
the stock exchange today because OF the |
Ascot races. American rails furnished /
the nvliest market. but II was lively |
only IN comparison with The surround
ing duIlness. They opened half a dol
lar above the parity and were hTTn ell /
day, closing a crif'e under the best. \
The market for Americans IL decidedly
but this does not mean
that the public are coming In. exceTt
perhaps as 70 gold bonds but that the
speculative dealers are undoubtedly
laying in stocks in expectation OF rise
Having waited 50 long. the public are
likely to await the development OF the
election issues; hence the great un-
certainty of the market: Copper stock
was strong Gold was IN demand for
Aus r1a ana Berlin
REVIEW OF THE WEEK
New York. June 1s.-Bradstreet's Re
view will tomorrow say:
Professional traders have generally !
turned to the bull side and cliQues have
been active IN advancing various por-
tons of the share list London's TO
ception of the news from St Louis has
indeed been ore OF the principal fnfiu-
ences. The extent 10 which Wall street
ion IS shown by the fact that on Thurs
lay decided appearance Of selling for
London caused a complete halt In the
pull movement. This check was part
Y due TO realizing sales by the profes-
iiOnal element in London, which. as IN
he case here, seems thus far TO have
lad the American market 10 Itself. |
IN Friday not only did the London mar
ret for American stocks show q renew
Il OF the advance, but further foreign
'uying gave renewed confidence to the
ocai bulls. There Is some question |
low as 70 whether on balance. Europe
Ias taken a large amount Of our secur-
ties. The decline Of exchange rates
ue 20 the European purchases OF
tocks, was. however, one of the fay-
ra,ble elements. Quotations, for de-
nand sterling bills fell, under this pres
ure. 70 A-ssd4ssA. which IS below
ne rates at which gold can be exported
ne tone OF the market al IN. close on
rday was dull. bun etrosg at a re-
oVery from an early decline.