The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-05-13
TWO ARE TRADED In
ST. PAUL AND SUGAR, FOR A0TlV-
ITY, LEAD THE MARKET.
Speculation FftfuI, Under Extraordinary
influences - Traders Responsible for
the Little Business-Early Sentiment
More Cheerful and News of . BuIiish
Nature, Among Which Crop Reports
and Railroad showings Figure-Eariy
Activity Followed by Duilness = The
Che Foo IncIdent-Foreign Markets

New York. May 12-Only two stocks
today deserved mention on account OF
activity-St- Paul and Sugar. The
specula ton was fitful. prices being az
fected by influences not ordinarily bear
ing upon the market. II can be added
thar the traders were entirely respon-
sible for the meagre total Of business
recorded a more Cheerful! sentiment
was apparent in the early operations.
the bulls being encouraged by a moder-
ate renewal Of foreign purchases. The
buying was chiefly for short account.
incidental 10 the opening OF the fort
nightly settlement upon the London
stock exchange. The more reassurins
advices in relation OF the latest Cuban
trouble also paved the way for improve
E1ent in the market. The government
crop report was more favorable than
had been generally anticipated and tenn
porarily helped the railway list and par
ticularly the granger and southwestern
shares. The foreign exchange marke,
also displayed reactionary tendency
and gold export probabilities appeared
10 attract less attention than hereto
fore. Furthermore a large number OF
.
mainly favorable, came to hand. For
eign purchases referred TO were mainly
confined to 81. Paul and Louisville ana
Nashville, with a lighter inquiry for
other properties. The initial advances
as rule were confined 10 fractions and
were fairly divided among the leading
shares. A spasm Of activity occurred
a. the outset, but the market soon set
tied into a state Of semi-Stagnation. The
duilness melted attacks by the profess
sional bear contingent after the expira-
ton of the first hour and, together with
the execution OF moderate realizing ord
ers, reasttonary movement developed.
which was accelerated later by reports
of prabable internationa complications
over the Che Foo incident The more
acute losses occurred in the specialties.
Consolidated Gas dropped 21s per cent,
and Manhattan 23s per cent. The con.
cessions among the more active shares
extended TO about point in Tobacco,
Sugar, Tennessee Coal. Missouri Pacific
General Electric and Chicago Gas. At
the low points a general covering move
ment set in, causing a rally in the late
dealings 10 a parity with yesterdays
final figures. The closing was steady
at the rally. with the net changes tri-
vial
The bond market was quiet, with the
prices displaying irregularity. In the
early dealings an easier tendency was
noted, but the market steadied later
and closed firm at general advances
over the low point. The speculative
issues tended higher. with the Atchison
the leaders The sales Were $73o. 900.
Government bonds were irregular bu.
closed firm on transactions OF $4,000.
FOREIGN STOCK MARKETS.
New Yor. May 12.-The Evening Posts
London financial cablegram says: The
settlement, commenced today, reveals
a considerable bull account in home
rails and South Africans. Contangoes
were fairly light, however, and on
american rails only per cent. The
tone was fairly steady. closing under
the best on kilograms in the evening
papers saying that Russia and seized
British concession in China. This
last is not generally believed IN good
quarters here. Americans were bet
ter but the close was duh with other
markets.
The Paris bourse opened dull but clos
ed better
The Berlin market was steady.