The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-12
STOCKS AND BONDS
UPWARD COURSE OF sHAREVALUgs
ALMOST UNINTERRUPTED.

Seller, Which Has No Appreciabie Ef
feet on This Side-Low-Priced Shares OF
Non-Dividend Payers In Demand
Gransers Booming.
| New York, Aug. U.-The only inter
/ ruption 10 the upward course OF price:
| OF stocks today was due 10 the Occasional
profit-taking by room traders. The Of
ferings on this account were easily alb
sorbed, with only a momeniary halt, af-
ter which the rise was resumed. During
| the morning the influence of buying foI
London account was evident, arbi:rage
brokers taking all the international
shares quite freely. London prices also
came higher at the opening, but before
the day was over London turned selle.
again and, il is estimated, sold % ,00C
more shares than wire bought. This ef-
feet Of the selling had no appreciable ef-
feet on prices. The low-priced shares OF
non-dividend paying stocks were largely
bought by London and were favori,es al
so in the local speculation, the argumen:
vance if the promise Of better times holds
good, and il il does not they cannot re-
cede far. Union Pacific was the favori;e
in this class and was the leader OF the
whole market in point Of activity, 81 600
shares being bought during the day The
stock was helped by the revival Of en-
Cd story that the forthcoming foreclosure
sale would make the road a part OF a
great tranSconcnental system under one
control. The stock was heavily bought
by professional traders in speculative ac-
counts and closed with a gain of "A
points on the day.
The excitement in the wheat market
was reflected in the stock market and
was a large element in encouraging
prices. especially OF the granger stock.
the grain-carrying roads in the north
west, west and southwest all showing
substantial gains and great activity. The
dealins in the high-priced grangers were
of enormous proportions and the Atchi-
son securities and Northern Pacific pre-
ferred were also prominent features. Re
ports from western points were Of in
creasing demand for car space TO move
the grain crop and Of the necessity of
great exertions on the exertions on the
part of railroad managers to avert a
car famine.
Statements Of earnings also continue
encouraging. S.. Paul showed an in
crease for the first week in August Of
s5o,2 over last year. For the same per-
iod Canadian Pacific gained S64. 900. Mis-
~ De- g. 4 re-
as $4,000. Northern Pacific gained $685.
947. for the last week in July. Louisville
and Nashville was active al day, but
moved within narrow iimits. until near
the close, when it jumped 10 a leading
place in the advance with a net gain OF
is per cent.
One Of the features Of the day was the
steadying Of the sterling exchange mar
ket, and the consequent cessation OF talk
of gold shipments in the immediate fu-
ture. The stiffening of the discount rate
in London. added to the continued heavy
sales here Of London holdings Of securi-
ties. is probably responsible for the check
TO the fall in exchange. Continental ex-
change continued weak and downward.
Gains extended over point in a large
number OF railroad stocks. and 10 10
points in Cleveland. Cincinnati. Chicago
and ST. Louis preferred. IA in Metro
politan Traction, 2 3-s per cent in Mime
sofa and ST. Louis first preferred, 2 1-2
per cent in Pittsburg. Cleveland. Chica-
go and ST. Louis, and per cent in rub
Der preferred. losses Of over a point
were shown in Laclede Gas preferred
g 80. per cent in Chicago and Alton
and Consolidated Gas, Lake Shore and
Long Island.
The total sales OF stocks today were
ga, 900 shares. including: Atchison, -
03e. preferred 1850; Burlington 39.165;
and Ohio. 1885; Cleveland.
Chicago and 81. Louis, 1850:
Erie new 7.46l; Illinois Central. 7.21O;
Louisville and Nashville, 1855: Manhat-
tan L 4.so7; Metropolitan Traction 6.O05;
polls and s.. Louis. ABS; Mis-
souri, Pacific 1870: Missouri. Kansas and
Texas preferred $40; New Jersey Cen
trail 4.936; Northern Pacific 1850 pre-
serred 0,220; Northwestern 4.345; Onia- /
rio and Western $3.50; Reading 25,ss5; I
Rock Island, 1896; S.. Paul 1855; 81. /
Paul and Omaha. 1885; Southern Rail- |
way preferred. 6.217; preferred 1850; /
Union Pacific 52490; American Tobacco !
20, 800; Chicago Gas 1900: Lead $3.50: SD /
gar 1855; Tennessee Coal and Iron 4sS2: !
Western Union $3.50; Chicago Great 4
Western $500.
The inquiry FOR railroad mortgages !
continues heavy and reflects the increas- !
ID confidence in the general situation. /
issues Of recognized properties forged /
10 the from; and purchases OF the middle /
grade liens were on large scale. The /
general market main tanned very strong 4
one throughout. TIE aggregate sales |
we're si27o, 900.
Government bonds were slightly IT.
on dealings OF $4,000.
FOREIGN STOCK MARKETS.
New York. Aug. l1.-Tae Evening
Posts London financial cablegram says:
The stock markets were irregular 20
lay. being entirely shaped BY New
FORK. Thus consois. English rails and
II kindred stocks were ia On dear
money. based on fears og gold exports -
Iew York. While Americans and KafFirs
we're booming.
ir6-H II4t yS-te4uAs anu todA!
OF god from the Bank OF
England were exceptional transactions,
Iue 20 gold having been sod forward in
pen marke; for a given da,e against
which arrivals have not been sufficient.
30 arrangements have YET been made
D. shipments 20 New York
Americans were good al day. The
,rhif- hare = h.Iyin the irteres. x
preajing and the dealings are becoming
cry heavy.
There was run OF all the preference
locks = -so-gaaized lines Louisville
~ Nzsrvff-a MAS a<o ve-y strong