The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-25
STOCKS AND BONDS
STOCKS STRONG EXCEPT IN THE
FINAL HALF-HOUR.

Early strength Due to the Certainty Of
Sure Thing ON the Tariff Bile Enact
ment and to tho Crop Situation, Bi
Yield at Home and Shortage Abroad
Later Decline Caused by Short Sales o.
Interesting Weeks Operations Bond
for tho week-The Bank Statement.
New York, July 24-The foregone con
clusion that the new tariff question
would be settled today. and the cerea
AID cotton crops continuing promising
len. the stock market further strength
today, except in the final half hour, wher
the short sales on realizations of profit.
diminished the days rise to the fraction
While trivial losses were suffered by
Sugar, Lead, Chicago Gas and the Read
| ing shares. Commission houses bough
| literally in the early dealings. as ais
London. The movement in the grangers
vas Slightly mixed, with Rock Island
/
! st. Paul remained stationary and Omaha
and Nor.bwest tern receded slightly. st
Paul had shown some temporary
strength on having earned more for the
Third week in July than ever except in
| 1882. On moderate dealings the south
| westerns showed some improvement,
Missouri Pacific gaining 1A per cent.
| The quota lions Of Chesapeake and Ohio
| failed 20 reflect its increase in June
earnings. The squeezing Of the shorts
in Tobacco caused a rise in that stock OF
point and half. General Electric ex-
ceptionally fell per cent from the initial
price, but il closed with a net loss Of a
point. Advances Of point or more were
scored in the following: Rio Grande and
Western, per cent; Central Pacific, Del
aware and Hudson. Denver and Rio
Rio Grande preferred and Mobile and
Ohio.
THE WEEK REVIEWED.
High-record prices have been the rule
rather than the exception for the week,
under the stimulus of the approaching
tariff settlement and the combination OF
good crops at home and shortages
abroad. The general speculation was
very broad, and many long-dormant
shares We'd with the recognized active
stocks in point Of animation. Purchases
by inside interests were in evidence and
reports OF pool support were freely cir
culated. Investment shares were eagerly
sought and the plethora Of money at the
prevalent low rates encouraged eXtens-
i've purchases for long accounts. The
money market was somewhat SITTER at
times, call transactions ranging UP to IL
per cent, although business was gener-
silly transacted at l per cent. Time
leans were in better request with short
periods in most demand. The CONNER
cial paper market held quiet. without es-
sentiai change from the current rate of
and per cent, according to maturity.
The fall for the week Of II. per cent for
silver bars, and % per cent for Mexican
dollars was in sympathy with the decline
in London. With the exception of Rub
Der preferred, which lost 3A per cent
for the week, the industrials were strong
in anticipation of benefits from the new
tariff. Sugar made a net gain for the
week OF IA per cent. Sugar transactions
were on an enormous scale at the OPEN
ing this week, and blocks of 1000 up to
$500 shares were juggled about with un-
concern by the traders. frantic TO share
in the excessive profits they thought
would accrue TO the company owing TO
favorable treatment accorded il on the
pro;lise Of the sugar schedule. The fact
that the company had imported large
amount OF raw sugar which was consid-
cred likely TO yield millions of profits.
AMI rumors that extra dividends would
be in order, were contributory influences
in the advances. The common registered
LAG per cent, the highest price ever al
tanned by the speciality. The advance
at. this level, and a recession
10 40 per cent, with a subse-
quent recovery to 14i per cent before the
cicse OF the week. The preferred stock |
bounded up TO III per cent, reacted to Ill |
per cent and closed at 113 per cent. a net |
gain of AZ per cent. The activity in |
Sugar as the week wore along and the |
standard shares assumed the leadership /
of the market in point of strength Lead |
md Tobacco responded TO the prospect
We benefits to pc derived from the new
tariff, Tobacco common rising Az per |
cent, preferred 81: per cent. while Lead.
common and preferred, went up 37s per
cent. Chicago Gas rose per cent on the
superstition that the reorganization of
he company was being effected. Pu--
d and the activity Of the commission
houses indicated an increase in public
interest, which had been lax for some
ime. The continued dribble on the mar
ret ~ foreign holdings was explained by
he unfavorable comment OF the London
newspaper press. a change Of tenor in
hese columns towards the close OF the
week may have influenced the extensive
-ondon purchases. or they may be COW
ring OF short contracts. The bears
thought aocuc reaction about the mid
lie OF the week on the assumption that
nc tariff biii would be delayed. bu, sub
equent assurances that IL would be dis
'oSed OF this week caused the best prices
o be recorded in the last two days. EN-
,ec;aticns that an amicable agreement;
would be effected in the soft coal diff
ul,y strengthened the shares OF roads
argely dependent upon this traffic. The
1thracice coal stocks were firm on sat-
sfactory trade conditions. The excep-
onai strength and activity % railway ,
,p~fgaeaS indicative OF substantial ,
70 the market, created consider