The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-11
STOCKS AND BONDS
YEARS RECORD IN VOLUME OF
TRANSACTIONS Is MADE.

| ufe-uafket breaks on Liquidation IN
Sugar Due to Unexpected Delay in Pass
| ing the Sugar Schedule in the Senate
Close Weak at Slight Net Gains Bonds
Strong and Dealings Heavier.
| New York, June 10.-Today showed the
largest volume of trading in stocks during
| the year thus far, the total sales Of all
stocks being 5000 shares. The dealings
were well distributed throughout the rst
many stocks that have lain dormant for
long time being called into activity by the
awakened demand for securities among the
outside public. This demand was also
| quite extensive, commission house selling
! Of stocks pointing to the probability that
the continued steady rise in prices has in
vited into the ma9set some Of the holdings
| that have been quietly kept back for
long time. The marked strength OF the
market during all the early portion Of the
| day was accompanied by more or less de-
sultory selling to take profits. but up to the
| final hour of trading all these offerings
| were absorbed without any marked effect
| on the market. But a heavy realizing
| movement in the final hour wiped out a
| large part of the earlier gain in most Sc
surities ana all Of it in quite number
| The heavy liquidation in Sugar was the
main factor in breaking the market, the
selling being increased by some dsappoint-
| ment that the Sugar schedule of the tariff
| bill had not passed the senate when the
| trading closed, and to re-awaken apprehen-
sion that it might be changed IN conference
between the two houses so as to lessen the
| protection on rf.fped Tba f
| ing weakness of Sugar was ais effective 10
depressing the market In view of the large
volume of its sales, as its aggressive
strength IN the morning had been in sus-
I tanning il. The response of the London
market for Americans TO yesterdays late
| strength here also gave a strong Impetus
| &c the early advance. London was also
! buyer here TO a moderate extent, of all the
| special favorites Of the market. There was
some distrust felt of this London buying
| by professional traders, on the ground that
it may be Tor a short turn of the market,
and is likely to come back here for sales
soon. The grangers Were actively traded
| in all Gay, st. Paul leading in both volume
| Of transactions and in extent of the ad-
vance, which reached point. Its reaction
| was also less than the others of the group,
which lost practically all their gain, Rock
;
| from the high point was 23s per cent, bat
| final rally left its net loss fractional The
coalers were also notably active and strong.
New Jersey Central advanced per cent,
Delaware and Hudson 21s per cent, and
Lackawanna and all three Reading stocks
over point, the latter on very heavy trans
actions. Lckawanna held the gain but
| the others reacted, New Jersey Central and
Delaware and Hudson gaining 2 per cent
net, and the Reading stocks a fraction. To-
bacco was active on manipulation and clos
ed practically unchanged. The iron and
| steel companies were notably strong and re-
acted only fraction, Illinois Steel advanc-
ing el2 per cent, Minnesota Iron per cent
| and Tennessee Coal and Iron IA per cent
The Vanderbilt stocks all showed strength
Canadian Southern and Michigan Central
gaining IA per cent, the New York Cleve-
land, Cincinnati and st. Louis over a point,
ether gains in the group being fractional
Northern Pacific preferred was very active,
but moved very narrowly. Louisville and
Nashville gained IL per cent Lead prefer
red advanced 2 points, Norfolk and Western
preferred IL per cent, and st. Paul and
Duluth per cent. The new securities of
the St Joseph and Grand Island railroad
were dealt IN for the first time the first
preferred ranging from SO down 20 37s! per
cent, the second preferred from u TO II per
cent and the first mortgage bonds from
629s per cent TO 63 per cent. Western I'm
ion continued notably active, advancing
~ per cent. but reacting a point The
closing was weak but slight net gains were
the rule.
The total sales CT stocks today were 345-
345 shares. including: American Tobacco.
1900; Atchison. 5000: American Sugar. a.
200; Burlington and Quincy. $500; Canadian
Southern. 1000: Chicago Gas, $500; Della
ware, 1850; General Electric. $780, Louis
vile and Nashville. 1920: Manhattan con-
solidated. 400; National Lead, 4,SD0; North
west, 4,loo; Northern Pacific preferred. 49,
ioo Pacific Mail, 5.1CO: Reading. 1900; St.
Paul. 1920; Rock Island, 1890; Tennessee
Coal and Iron, 200; Western Union 1920:
Southern Railway. $500: Southern Railway
preferred. Is. 100; New Jersey Central 1870 |
The railway and miscellaneous bond mar
ket continues 10 display pronounced
strength on heavy dealings, which include
an extensive variety of issues. Purchases
for speculative and investment account by
domestic and foreign capitalists gave
decided impetus 10 tn einproving tendency
that carried numerous bonds substantially |
above preceding prices. The m:ddle-grade |
issues figured quite prominently in the spec |
ulauon ard registered the principal gains. |
The activity of the usually dormant mort |
cages indicates a decided broadening ten |
dency, which is indicative of a substantial |
outside interest IN the general market The |
speculative issues generally moved within |
narrow limits, but shared 20 a moderate
extent in the general Improvement The |
sales were S60S00o0
Governments were neglected a the board |
but advanced slightly on bid quotations
FOREIGN STOCK MARKETS.
New York June 1o-The Evening Posts !
London financial cabelgram says:
The stock markets closed firm through |
out today. with Americans distinctly good. !
very small demand quickly influenced !
this department there being no stock OBJ !
tainable. very hopeful feeling prevails !
also, but much depends upon the assist !
ance which New York renders Argentine !
government bonds have had sharp rise /
N anticipation Of the Encouragement of l
the debt. The trunk OF Canada stocks 1
keep firm. The Paris bourse had a stedy .
opening. but later became dull The Ber- 1
In market remained steady"
LOANS. EXCHANGE AND BONDS.
New York. June i0.-Noaey on cali nom |
inaliy lax per cent: prime mercantile pa
per Si.G4 per cent; sterling exchange steady /
with actual business IN bankers bills at /
s. Ss7sT4s7 for demand ard s.. s5S.G4ss for /
90 DAYS: posted rates ASSie6l4-N and sass !