The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-03-12
TOBACCO is AHEAD
DAYS DEALINGS ECLIPSE ANY
THING IN RECENT MONTHS

Stock Foots Ups Business of More Than
Two Hundred aud Thirty Thousand
Shares, Thereby Surprising Sugars
Most Spectacular Mark-Results in an
Gain of Nearly Half That-Strength I'm
parted by Tobacco to Other shares
Bonds Active and Firm.
New York. March Ito all practical
intents, Tobacco constituted today's
stock market. The dealings in il COM
pletely overshadowed the operations in
other shares in point OF animation and
extent of fiuctuatlon. The stock fgur-
ed for 2300 shares. out of an aggregate
of the entire list of 342 $50 shares. The
banner record Of any stock in any day
within the past fifteen months had been
held by Sugar, 200 zoe shares. and was
reached in December, 1894. Blocks OF
1000 10 5000 shares frequently changed
hands and a number of leading houses
were credited with purchases of any
where from 10000 10 100000 shares One
prominent Broadway commission firm
took about 10000 shares. The movement
was. on its face, manipulated by pow
erful interests. The oStensible basis
reports of a compromise between the
trust and several Of its most important
competitors and of the probable alb
sorption of the properties. The shorts
suffered very severely and one other OF
the professional dealers came 10 open
grief. his suspension being announced
on the stock exchange. The extreme
| rise was S per cent, to S2$4 per cent, and
was facilitated by the catching of nu-
merous stop loss orders. Circumstan-
tial denials Of the reports from official
sources caused a reaction to 1SA per
cent, but the stock closed a net gain
OF 33s per cent. The strength of Tobac-
CO impaired sympathetic strength to
other industrial shares, notably 10 Cen
eral Electric, which came second in eX-
tent Of trading and advanced 2s per
cent Vague rumors of something IA
vorable TO come out regarding the stock
tomorrow, were also in circulation. Su-
gar rose IL per cent. Cotton Oil prefer
! red ga per cent and Rubber and Chica-
ga Gas IL per cent. The railway shares
were not affected and evidenced ten
dency to sag, but the concessions were
| important, aside from Missouri Pacific,
| which dropped / Y per cent, presumably
| in connection with the annual report or
| operations, which was submitted yes
terday. Manhattan improved a point
| but lost part of the gain. RealiZations
were general in the final hour and in
addition TO this influence. Sugar was I'M
| favorably affected by rumors of poor
| trade conditions which might compel a
| temporary shutting down of the REIN
| cries IT was also alleged that Treasur-
! er John Z. SearleS was about TO resign.
| This was denied and ii was also stated
| officially that no important interruption
/ TO the business was likely. The market
! left off irregular. with the net changes
! in either direction fractional in most
| cases and about evenly divided on eth
er side Of the account. General Electric
closed with net gain of 2is per cent
| and Cotton Oil and Leather preferred
gained ~ per cent and Us per cent re-
| spectively.
| The bond market ruled moderately
! active and a firm tone prevailed The
| Northern Pacifics were shaded 10
slight extent. The total sales were Sl,-
229. 900.
Government issues sold of small
| fraction on sales of S149, 900.