The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-03


CoaIers Showing Gains Inquiry for
Vanderbiits Resumed - Cheering Rail-
way News From the West and From
London-Bonds Firm
New York, April 2.-Today's trading was
marked by q still further diminution in the
volume OF trading on the stock exchange
the total sales falling below 10000 shares
Western Union became the leader OF the
market in point of number Of shares sold.
almost 10000 shares changing hands. The
results Of the days trading left the ne.
changes in most of the active stocks mar
row, nearly all outside the coal shares show
ing gains. There was an obvious under
current Of strength in the grangers and
others of the western and southwestern
reads growing out of the agreement which
1t is believed VIII prove efficacious in main
tanning rates and stu be within the law
as construed in the Trans Missouri decision
a noticeable feature of the market also
was resumption of the inquiry for the
Vanderbilt stocks. The announcement OF
the arrival in London OF individuals repre-
sentlng money interests received attention
by dealers as a probable influence towards
Improvement of prices in the properties
which they represent. Northern Pacific pre-
ferred was notably affected by this inf1u-
ence. owing to the belief aroused that con-
ferences in London were tending to further
harmonious control of that road and the
Great Northern. The market was not en-
tirely dominated, however by those favor
ing conditions, but still carried the incubus
OF depression in the coal stocks and some
CT the Gould shares, which the bears sought
10 accentuate. The bear attacks on these
STOCKS checked the advance at which the
market opened and caused declines of Il.
per cent N Western Union, IL per cent in
Manhattan, IA per cent in New Jersey
Central, rs per cent in Delaware and Hud-
son and point each in Consolidated and
Ch:caSo Cos. 1t was rather noticeable
that the subsequent improvement in Wes-
tern Union continued in face OF a state
ment by Russell Sage that if business does
not improve to a point warranting the
usual dividend rate he should favor a re-
ducton for the next quarter. The buying
OF the NanGerbilts and Northern Pacific
preferred checked the decline and prices
were carried to the top prices of the day.
the coalers participating IN the movement
Northern Pacific rose points and Consol:-
dated Gas the same, and gains of a point
or more were shown in Omaha, New York
Central. Michigan Central. Sugar common
and preferred, Burlington preferred, Ch,ca-
go Gas, st. Paul, Rock Island. Louisville
and Nashville, Manhattan, Lead and Pa.
c.fc Mall. Lake Shore, which luled a,
100 per cent bid at the outset jumped TO 167
Per cent bid, on the execution of orders for
90 shares a l55 per cent and 166 per cent.
Subsequently, decline TO 164 per cent bid
occurred. Leather preferred declined on un
favorable trade reports, but practically re-
covered. In the inactive stocks, Minnesota
Iron rose IA per cent, and Long Island fell
rs per cent: the st. Louis Southwestern
stocks and bonds, which showed sharp de-
cLnes yesterday, received effective support
today. Spirits gained 3ls per cent on re-
ports OF trade agreement, and closed with
a net gain of 2&4 per cent. The close was
irregular on account of profit-tak.ng, and
the coalers lost all their gains, but many
stocks showed substantial net Improvement
The total sales of stocks today were 49,
800 shares, including: Chicag 20 Gas trust re
ceipts, 1900; Burlington and Quincy, $500;
Louisville and Nashville, 1900; New York
Central, 1850; Northern Pacific preferred.
II, 200; Omaha. 1850: Reading, $500; Rock
AoAe%-Al, Js'vps 81 al b4 AppPu NfSltill IlliOU
Is, 400; New Jersey Central, Is, 100: silver GER
$500
The bond market continued to exhibit
firmness. which was more full
ly reflected in the high-class issues The
ST. Paul mortgages were freely dealt IN at
a higher range, with Chicago and Lake
Superior division fives gaining 81 per cent.
The Northern Pacific liens responded frac-
tionally 10 the favorable rumors in c.rcula-
ton. and operators in the est Louis South
western securities indicated considera BILE !
EN- the condition of the property.
the first jumped per cent, to 20 per cent. !
Sales s1,10S,OO0
Government bonds showed strength.
with good demand for the new tours. Sales
sS1, 800.
FOREIGN STOCK MARKETS.
New York, April 1.-The Evening Posts |
London financial cablegrana saws:
The stock markets were a little better
today, bat the close was dull. on a Feeling
that eastern politics is drawing 70 a head
Argentinees and South Americans had the
best market. Americans were steady Mr. |
P:erpont Morgan is understood to express
favorable views, but nothing ether than
what was stated by him before he left New |
York. There is a keen demand for gold /
from the continent, and from Japan al rs |
l015d. Short loans are easier. The Paris !
and Berlin markets were steady"
BRADSTREET'S REVIEW.
New York, April 2.-Bradstreet's review |
Of the stock market VIII say:
After sornee further decentralization In 1
the early part OF the week. due to exagge-
rated fears Of general rate-cutting as a /
of the Trans Missouri decision |
stock values have, on the whole tended 10 1
recover. This was the result of the fact 4
hat the railroad managers as a class. are 4
with great conservatism and re- 4
irining from cutting tariffs or any action |
hat would disturb the situation. The de- |
,ision OF the western managers to retain 1
heir central agreement, not as a traffic !
association but as a bureau OF information.
ana OF the trunk lines 10 continue their
Joint Traffic association. pending the re-
suit Of the case involving its legality. both 1
lad a very good effect. The prompt IL
of a pooling bill in the senate
Ilso tend to restore confidence though the
after reports make Z very doubtful If ac-
.on can be secured on such a measure at !
his session OF congress On the other
land the market has had some unfavor-
bic factors TO contend with. The Euro
can political situation has been very
strained. and the London market nervous
Ind inclined TO 90 nothing. while reports
hat war was on the point OF breaking out
between Greece and Turkey, though not
certified, found temporary belief. with dis
urb.rg effect on prices. The fact that the
arif bill. after beng passed II the house
as gone TO the senate. where it vii doubt
sss meet with both delay and considers bic
vhsnge. also has a tendency 20 introduce
n element OF uncertainty in business which
he stock market can not disregard. Above
II. the extreme weakness CO the coal stocks