The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-06
STOCKS AND BONDS
NEW JERSEY CENTRAL TAKES THE
CENTER OF The STAGE,

| Questions of the Dividend. Whether Any or
None. and, If One, How Much, Being
Sufficient to Put the Stocks of That Cor
| poration Ioto the Fiuctuating Business
| Other Coalers Move in Sympathy-Post-
| ponement OF Joint Trafic Hopes and
| Fears to October and the Resumption OF
| Cuban Debating arc Adverse Influences
New York. April 5.-The traders in stocks
| made plaything Of New Jersey Central
| stock today and worked further with It.
so inviting a subject for speculation was
it that it absorbed a large share of atten>
| ton in very narrow market, its wide and
erratic fluctuations making it specially avail
| able for the purposes of the traders. There
seemed to be an ex traordinary degree Of
doubt and lack OF reliable information as
TO the exact intentions of the directors at
| the meeting today regarding the dividend.
| That the rate was to be reduced was taken
| for granted ard stories mad even found cir
| culation of late that 1t was to be passed.
/
seemed to be based on belief that the d.
vidend would be reduced to 3 per cent
basis. The price sold off 27s per cent. 10 Isl.
| Per cent, on this. When il was announced
| that quarterly dividend of per cent had
been declared rally of ~ per cent. to 500
| per cent, ensued, but this was followed by
a reaction of 32s per cent, to 1ss per cent,
due in part to disappoin tment at the alb
| sence of statement of the companys finan
cal condition and to fears as TO the earn
| ings having been up to the dividend rate
decided on. Delawar and Hudson was ac-
lively in sympathy with New Jersey Cen
trial.. falling ~ per cent, after an initial
gain OF fraction, rallying TO 1o35s per cent
the best of the day. and reactins to 1G214
per cent. Lackawanna was dealt in ex-di-
v;dend OF 1s4 per cent. and moved in SYM
pathty with the other ccalers but in
narrower range. The absorption Of the
professional element In the coalers left the
market decidedly dull and the transactions
small. There was. however. large num-
Der of odd lots of shares traded in, sup
POSED to be for outside account, and to in
dictate the attractiveness to the outside pub
lie of the present low level of prices. There
was some light stinening of prices about
midday on covering of shorts and in SYM
pathy with the short-lived upward move
ment in the coalers, Leather preferred show
ing the extreme gain of 1h per cent. bus
the Vanderbilts profited TO the extent of a
sharp fraction. Later, the market succumo
ed to a number of adverse influence, or
what were interpreted as such by the deal
ers. The principal Of these was the news
that the supreme court had refused TO ad-
vance the appeal Of the Joint Traffic aseo-
citation to a hearing at the present term
of the court and had set the second Monday
in October as the date Of hearing. The re-
sumption of the Cuban question as sub
tect of debate In the senate worked on the
fears of dealers to some extent. Disap-
pointmert was felt that the prices OF
Americans In London did not respond more
favorably to the presence in London OF sew
eral American fnanciers. supposed to have
in hand plans to benefit the properties in
which they are interested. The losses IN
the railways generally ranged as high as
IL per cent IN Burlington, the decline In
the grangers being marked. The indus
trials were not much traded IN, aside from
Sugar and Leather preferred
The total sales Of stocks today were 49,
12s shares. including: American Sugar H.
900: Burlington 1890; Chicago Gas 400;
Delaware and Hudson 1890: Louisville ana
Nashville 6.10O; New York Central $500;
Northern Pacific preferred 300; Omaha A.
100: Reading 500; Rock Island $500: ST.
Paul 1900: Western Union 1900; New Jer-
sey Central $500.
Railway bonds were dull and mainly fea-
tureiess. The Iron Mountain issues were
freely dealt in but lacked notable change
Government bonds displayed an easier ten
with saiee restricted TO g 600.
FOREIGN STOCK MARKETS.
New York. April 5.-The Evening Posts
London financial cablegram says:
1.-THE stock markets were stagnant but
better on cheap money. Consols were 112's
buyers. Foreigners were better on the I'm
provement in Paris Kaff1rs were tnprov-
ed for the same reason. despite President
Krugers little bill Nome rails were very
strong. Americans were neglected but quite
steady, the only feature being the strength
of New York Central on rumors OF a fund
Ing scheme The consols dividends have
been pad. causing a money glut In the
market. Discount houses have reduced
their deposit rates by y OF per cent II Is
rumored that II the bank rate Is not chang
ed on Thursday. the joint stock banks may
break their usual custom and lower their
rate, Irrespective Of the bank. know that
the matter Is at least under discussion.
Gold is in strong demand at Tslo34d for !
Russia and Japan. The Paris and Berlin
markets were firm"
LOANS AND EXCHANGE.
New York. April 5-Money on call easy
at Ii4Gf& per cent; prime mercantile paper |.
gbTs per cent; sterling exchange dull with |
actual business in bankers bills al AsdA /
FOR demand, and S.S and sis for 50 days; |
posted rates 81 s5;z94. ssle; commercial bills |
81 sia.: silver certificates 6l7sde22s: bar sill |
yer. 6la.: Mexican dollars 4si.: government. !
bonds easier: new as registered and coupon /
l2ss.: SIS registered and coupon ia; IS reg /
;stered III; As coupon n29s; IS registered /
o6i.; Pacific SKIES OF SO. 1854
BANK CLEARINGS.
Baltimore, Md. April s2.42o 80: balances
$3.50
philadelphia, Pc. April 5.-Clear1ngs S.. |
%. sSS; balances sl,2s4.7oa.
St Louis. Mo, April 5.-Clearnss sos
as: balances S57tsse; money 517 per cent: /
New York exchange % cents bid; 20 cents !
asked
TREASURY STATEMENT.
Washington. April 5.-Today's statement
o. the condition OF the treasury shows:
Available cash balance 81, -. So; gold rs
serve sl5i, 7S2.0S5.
GRAIN AND PRODUCE MARKETS.