The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-27

of the Morning-Bonds Irregular Lou
don Dull-veek's Review,
New York, March S.-Today's market
opened with downward rush, which seem
ed TO indicate that the selling movement
induced by The supreme court decision IN
the Trans-Missouri case had taken a fresh
start II was not long, however. before
prices steadied somewhat, though the mar
ket sank into dizziness and there was little
inquiry for railroad shares generally. TIE
general tone Of alarm over the apprehended
disastrous results OF the breaking up Of the
passenger and freight associations has very
clearly subsidized as Il is seen that the dis
ruption OF the western organizations has
not been followed by cutting OF rates. But
the roads which wsre first 10 withdraw
from the associations have been compelled
to bear the brunt of the selling movement.
This was manifest in the case OF the gran
gers. The opening also showed the Van
derbilt roads notably weakened. but they
were early on the road TO recovery. The
industrials also showed marked heaviness
and Jagged in the recovery, some OF them
probably exerted upon these by proceed
ings in congress, where antitrust amend
ments to the tariff bill were the occasion
occasion OF recovery. There were special
causes at work In special cases also Sugar
was weak on reported project for a new
refinery IN Brooklyn, in opposition to the
American company. General Electric fell
off on a belief that the trade outlook in IN
70, mi - nj
report will be had. The losses were as fol-
lows in the principal instances: Sugar. IL
per cent: General Electric .; Rubber pre-
velend. Cincinnati, Chicago and St. Louis.
1, New York Central, 4; Omaha. I; Bur-
lngton, rs; Rock Island. is; Kansas and
Texas preferred 2; and Reading first pre-
ferred l. There was period OF unsteady
fluctuations in the market before an i'm
provement was inaugurated by the good
inquiry for New York Central and Omaha.
which showed some resumption of the
strength that characterized them before
Trans Missouri decision broke the market.
The advance became general IN the rail
ways and continued during the remainder
of the day. the closing being at the best
figures OF the day in the majority of cases.
The declaration OF the regular quarterly
Lackawanna dividend of 12 per cent also
exerted a sentimental effect on the market.
The industrials also made notable recover
les in the rally, although somewhat late 20
show improvement. and Tobacco and Rub
her preferred being left behind entirely,
closing at the lowest. The break in To-
bacco came late. the price falling 2ia per
cent, to 1884 per cent, on heavy sales. Other
notable shanges were advances of AZ per
cent in Minnesota Iron and of -. per cent
in LaClede Gas preferred. Lake Erie and
Western declined per cent, and the pre-
ferred 5I4 per cent. the fall bing unaccount-
q for. Although the final prices were gen.
orally the best, they showed net losses OF
q fraction from last nights closing. Chica-
go Gas. Manhattan. Western Union. and
Missouri Pacific being the important ex-
ceptions that showed fractional gains.
The bond market displayed considerable
irregularity on moderate dealings. The va
riations in the usually active issues wers
especially wide, but tendency toward a
lower level was generally noted. with some
sensational concessions in liens identified
with the coal industry. Sales for foreign
account were noted In the low-grade mort
ga ges. which were in a measure offset by
the revived investment inquiry for standard
properties. The sales were s1,122.oo0
Governments were quiet but stifened ap-
prec!ably on a renewed investment demand
Sales $4,000.
FOREIGN STOCK MARKETS
New York March 26.-The Evening Posts
Londo financial cablegram says:
The stock market opened fat today, rail-
lied later, but closed dull again. With the
OF the settlement an element OF
firmness has been removed and prices are
cnce again entirely dominated by foreign
policies, which at the moment are believed
here TO indicate war between Turkey and
Greece. Turkish stocks were fat. Ameri-
cans are still depressed by the action OF
the United States senate on the arbitration
treaty and by New York Selling. The Paris
bourse was weak on heavy selling by the
Greek operators. The Berlin market was
dull"
REVIE WOF TRADE.
New York March 25.-Bradstreet's review
of the stock market will say:
There has been only one speculative fac
tor in this weeks market: the decision OF
the supreme court in the Trans Missouri
Freight association The Jews was most
as well as unset;ling. in its ef-
feet. When II came out, about noon on
Monday. the strength OF the Vanderbilt
securities and OF Chicago Gas and soma
others was giving bull.sh tone TO the en-
tire market in spite OF a continuance Of
hear pressure in New Jersey Central At
first the street was inclined 20 minimize
the Importance Of the decision. Liquifa-
ton of long stock by interests which are
supposed TO know the feeling IN railroad
circles. soon. however. made It's appearance
and was followed By series OF interviews
with men prominent n the transportation
business, in which very gloomy views were
expressed as 20 the effect on rates II the
decision prohibited all traffic contracts be
tween the railroads. The spread OF such
ideas, perhaps IN a somewhat exaggerated
form. resulted IN a general selling move
lnent. the extensive long account crese1
during the recent advance being pretty
thoroughly licu,dstsd. The bear party in
the exchange were from the beginning az
the movement extremely active and aided
the depression wherein stop or5rs couls
be reached or loosely held stock shaken out
Il can not be said. however. that there was
a paaicky feeling and while American stock
was heavy in London foreign interests we're
buyers rather than sellers owing 70 the fact
that there has Teen considerable short IN
,s-est IN tie American department a. Lon
don. which has apparently been covered On
the break TIC large short interest here
was also effective in checking TIE severity
CT the declines OF Wednesday. WIN new.
TIA: wholesale Withdrawals Of railroads
from the western associations seemed Ike
IS 20 result IN even more serious ds-noTzli'
zatio1 OF The market The fact tazt ths
JOINT Traffic association determined &c
maintain is organization FOR IRE present.
and that az ye. TIE railroads have acted
and are allowing 10 rate
-urtiaz. also had q good effect. ard there
vas some APPEARANCE Of support II Sugar
III <r-a4 Ct