The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-20

Heavy Selling Pressure Which Continues
all Day-Foreign Exchanges Closed,
Leaving Dealers without Their Ac-
customed Cue-Net Losses on the Day
Extend Generally to u Point ~ Over
Gold Export Prospect Versus Bread
stun Probabilities Bonds Depressed.
New York. April 19.-Nothing outside the
news of the war between Turkey and
Greece had much interest in Wall street
today. The traders in stocks are accus-
toned TO look with reliance 10 the course
Of prices on foreign exchanges TO guide
them in their dealings in properties likely TO
be affected by European affairs. The alb
sence Of this index today on account Of the
continued closing of the exchanges il Lon
don and Paris over the Easter holiday,
left the minds of the traders in some con-
fusion and, as a result, the movement OF
prices was at times very. erratic without
any corresponding change IN the tenor Of
news TO justify it. 1t was evident al the
opening, however, that this market was
bearing the brunt of whatever selling was
result of the war, not only by local hold
ers, but by those in London and Paris, and
in Boston, where the exchange also was
closed. The scene at the opening was an
exciting one, and there was heavy pressure
to sell throughout the whole day. There
had been many stop orders placed before
the opening, in anticipation of slump,
and these were speedily uncovered, run
ming sales of from 1,S00 to 1900 shares being
IN
international stocks, of course, were most
affected and declined the most, Louisville
ard Nashville being the mora conspicuous
example with a fall of gas per cent. Other
international shares lost over point in
the initial dealings and OF the Vanderbihs.
New York Central and Lake Shore were
per cent off. The grangers showed mark
ed declines, extending to 15s per cent in
St Paul. The whole list sympathized and
lest from a fraction TO nearly per cent.
An apprehension of gold exports had Its
added effect in depressing prices, the rates
for exchange having notably hardened on
the war news. Some exchange brokers re-
garded the rate of exchange as having
reached the gold export measure toda, but
dealers are in doubt whether foreign buy
ing of our breadstuffs which will result
from the war VIII not be sufficient to offset
foreign selling of American securities. and
keep the balance of cvredits in our favor
Ii was this doubt that helped to stem the
fall of prices, though this was mainly due
to the reports that foreigners were buying
stocks here and were also selling grain on
the rise. The rally in the stock market
was consistent with the recat!on in wheat
and both were more or less due 10 the
knowledge of foreign operations against
- -, al, fos1 IL
to hold, although wheat continued al the
lowest level. The rally was general and ex-
tended to over a point in stocks such as
Louisville and Nashville, New York Cen
trail, Reading and Kansas and Texas pre-
ferred. The activity of the market was
largely suspended at this point owing to
the confusion of mind of the traders, and
was somewhat spasmodic afterwards St
Paul was the most actively dealt in, the
sales footing up over 10000 shares. Prices
resumed downward course after the rally,
and in most cases reached the maximum
decline for the day, reaching SIS per cent
in Louisville and Nashville, 8 per cent In
Lake Shore, 2a4 per cent in New York Cen.
trail, 2S per cent in st. Paul and Omaha.
and 2 per cent in Southern preferred and
Pullman. These stosks enjoyed a frac-
tional rally which was general at the close
The net losses on the day extended to a
point or over in most stocks. Consolidated
Gas and LaClede Gas lost 1ia per cent each
and Chicago Gas IL per cent. Tennessee
Coal and Iron continued weak on the de-
creased earnings for February and scored a
net loss OF 2 per cent. American Spirits
preferred also scored loss of rs per cent
on the day.
The total sales of stocks today were 25f.
34 shares, including: American Tobacco,
800; American Sugar, 29.100; Burlington
and Quincy, 23550; Chicago Gas trust re-
ceipts, 19, 800; Delaware and Hudson, $3.50;
General Electric, $500; Louisville and Nash
vile. 1850: Manhattan Consolidate, 50, 400:
New York Central. 10000; Northern Pacific
preferred $3.50; Omaha, $3.50; Reading. 1850,
Rock Island, 5000; St. Paul, H,soO; Ten
nessee Coal and Iron. 4.4l5; Western Union,
6,6i7
The bond market also ruled depressed,
with the international liens the chief suf-
ferers. ne market displayed quite a lit
tie resistance TO the selling movement in
the early dealings but later succumbed,
with the average losses about a point II,
the principal issues. Hooking Valley skies
exceptionally fell per cent, TO 80 per cent.
The aggregate sales were s., 25S,000
Government bonds were strong and high
er during the forenoon with the fives reg
istered gaining e per cent. The gains
were subsequently lost and the market
closed weak. The sales were $4,000.
LOANS AND EXCHANGE.
New York. April 19.-Money on call NOM
inally at IL per cent; prime mercantile
paper 3iaG4 per cent: sterling exchange
strong with actual business in bankers bills
al sisSt. for demand. and at SiS6I9GS4 for
sixty days; posted rates s4S7is and 81 SSIs
commercial bills Sis5l2; silver certificates
62is: bar silver g.; Mexican dollars 4Siz;
government bonds strong, new fours reg
istered, 1ej.: coupon, 1eiI4; fves registered
1l3is, coupon. IA: four registered i1lI.. cou-
pom 1l2is: twos registered, 9siz; Pacific 6's
of '9s, l04is.
BANK CLEARTNGS
New York. April 1s-Clearings 81. rs. So;
balances s4.sIs79i.
Philadelphia. Pa, April 19.-Clear.ngs SO.
%, rs: balances s1.e3s. 6eS
Baltimore. Md. April 1e.-Clearings 81
4S4 go: balances s3l3.521.
ST. Louis. Mo-. April l9-Clearings $685.
500; balances ss17.s02; money sal per cent;