The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-18
STOCKS AND BONDS
SHARE MARKET LAPSES AGAIN
INTO HEAVINESS.

Industrials Absorb the Bulk OF Transactions
and a. They 60, so Goes the Market
Nothing Special in the Days Develop
ments To Depress Prices, Confidence In
the Business Outlook Remaining Unim-
paired-Enect of the Rubber Trust In
Observation-Disclosures Reports a steadier
Market-Government Bords Firmsr.
New York. Feb. 1.-THE stock market
lapsed again into the heaviness that has
characterized it for long time past, and
the industrial group absorbed the largest
part of the total transactions and exercis-
ed the controlling influence on the general
trend Of the market. The dealings in those
shares were to all appearances entirely IN
the hands OF the professional element. with
no evidence Of any marked outside inter-
est. Money continues in great abundance
and the reduction OF call money 10 1i=Q17s
per cent indicates the dissolution OF the
agreement heretofore observed to not lend
money for less than per cent. There was
no special element in the days transactions
to depress prices, general confidence con-
t:nuing unimpaired IN the favorable bust
ness outlook, but the small limits OF the
interests IN the market left ii prey TO the
manipulation of traders under the lead OF
the industrials. Rubber. which is now the
subject of the legislative inquiry, was lit
tie affected, the common stock rising ,.
per cent. and the preferred l per cent. but
both subsequently losing the advance. The
trading in this stock was small in amount.
Tobacco. on quite large transactions, jump
ed up Sla per cent. broke 2 per cent, and
rallied IL per cent, under conflicting mo-
tives of doubt as to the outcome of pending
legal actions and favorable trade condi-
tons, including rumors from Washington
of profitable advantages to be secured I'M
der the new tariff. Leather preferred also
rose per cent and reacted q per cent.
Another feature was a raid upon the Gould
properties, Manhattan and Western Union
being depressed ~ per cent and Is per
cent. respectively. IN the morning and Mis-
souri, Pacific Il. per cent in the afternoon.
The Hooking Valley securities showed very
heavy declines on doubts of the ability OF
the company 10 meet its interest charges
coming due on March !. The stock sold
off IL. per cent. the 6 per cent mortgages
9iz per cent, and the 5 declined 81: per
cent. Sugar. though largely dealt in and
very irregular, was confined in its varia-
ton within point, closing at the open
ing figure. 1132. per cent. The railway list
showed strength, but yielded fractionally
under the depressing influences of the mar
ket. Northern Pacific and Louisville and
Nashville were both bought for foreign ac-
count, and ST. Paul was sold on the ground
that the traffic statement for the second
week in February was unsatisfactory TO
ma rose rs per cent at the outset but the
latter subsequently receded, the other an
thracite coalers also falling off sharply in
sympathy with slump in Lehigh Val
ley at Philadelphia. The selling movement
was checked around delivery hour and sub
stantial rallies occurred. which were. how
ever partially lost in the final drive against
the market.
The total sales of stocks today were 1885,
Oh shares. including: American Tobacco,
1890: american Sugar, $500; Burlington
and Quincy. 300; Columbus. Hooking VAL
ley and Toledo, 400: Louisville and Nash
vile, 300; Manhattan. 500; Missouri Pa
c:fic 500: Northern aPcific preferred, $500;
Rock Island 12.100: st. Paul, 1o.yoo.
The bond market displayed little feature
aside from the slump in the Hooking Val
ley mortgages. Prices were generally well
sustained and considerable blocks OF the
speculative issues continue to be taken for
foreign account. The sales were s. POS, Goo.
The government bond market displayed
additional firmness. with a slight advance
IN the new As. Dealings were fairly mod
crate, aggIe eating $4,000.
FOREIGN STOCK MARKETS.
New York, Feb. 1.-THE Evening Posts
London financial cablegram says:
ed
with better tendency. but apart from
necessary investing, nothing was doing
Americans followed the New York lead
there being no initiative here where the
only activity is in a few home industrial
concerns. The Glasgow iron market closed
with a panic, the bears raiding it on fears
of the Scotch miners striking for an adj
vance In wages and also on poor American
advices The Paris and Berlin markets
were steady"
LOANS AND EXCHANGE.
New York Feb 17.-Noney on call nonin-
ally at 1Isd1s. per cent; recantile paper ga
4 per cent: sterling exchange dull with sc-
tual business in bankers bills at A.S for
demand, and SIS for sixty days: posted
rates As5l4 and s4s1G4ss; commercial bills
si4; Mexican dollars 50a4c. Government
ponds firner; new tours registered l22iz; |
rev tours coupon l22t.; SIS registered and
coupon 1Isiz: As registered1l3i4; As coupon |
ll3; gs registered %; Pacific SIS OF IS l0S.s.
BANK CLEARINGS.
Philadelphia, Fs.. Feb. T.-Clearings g. |
05i. Oh: balances s.. 023, $50.
Baltimore, Nd, Feb. I7.-Cleariugs s2.22i,- |
os5; balances s340.lA |
ST. Louis. No. Feb H.-Clearings 1851 |
$50: balances i.13s. 3s7. Money sal per cent; |
New York exchange 20 cents discount bid; |
- cents discount asked.
TREASURY STATEMENT.
Washington d. c. Feb. I7.-Today's state |
ment OF the condition Of the treasury |
shows: Available cash balance s. Il. T3s, ss2s;
gold reserve .lsS. e2i, SIS.