The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-13
AND BONDS
SUGAR Is The STAB ACTOR IN THE
STOCK MARKET.

News From Washington 10 of Nature to
Sugar Sales Reach Total of Eighty.
Two Thousand shzres-lIarket Dull
Outside Of Sugar London Dull
and Pricess Lower Changers Show
Marked Deprcssiou-Anthra Roads
Firm-Bonds Higher.
New York, July 12.-Sugar occupied the
! largest share Of attention in the stock mar
| ket today, and :ts buoyance was the fea-
ture throughout the whole list, with the ex-
ception of such stocks as were subjected 10
special depressing influences. The course
of Sugar was directed by the gossip about
the tariff conference in Washington and the
price sufficiently pointed to action that
would insure profitable protection of re-
fined sugar. The outstanding short inter-
est, which has been reputed to be large,
showed a nervous apprehension under the
persistent strength of the stock and extern
sive covering carried the stock up by leaps,
points above the low point. The move
ment to cover became something like a
stampede at the close, large blocks chang
ing hands on the rising price. The sales
OF this stock reached a total of over 82,000
shares. which was over one-half the aggre-
gate OF all sales. The price reached 135. Is
the highest on record of the stock On June
p, the price touched $50 and has since ruled
below that figure until today. Outside Of
sugar the market was dull. The opening
was higher and quiet in distinct disregard
of the dull tone of the London exchange,
whose prices were lower. The interna-
tionai shares were, however, comparatively
Re glected. Louisville and Nashville was
heavy on the preliminary statements show
ing decrease in the surplus OF SALE, 344
Northern Pacific preferred was also offered
quite freely. but recovered its loss. The
Rubber shares were weak on belief in dis
sensions in the directory, the stock losing
2s4 per cent. Pacific Mail advanced to Asa
per cent, but lost the gain. The grangers
showed marked depression, receding an av-
erage of a point below the early gain but
they recovered the loss. The anthracite
roads were firm. Des Mones and Fort
Dodge, Chicago Great Western, Brooklyn
Rapid Transit and RIO Grande Western
were quite steady. Features Of the day
were the appearance of grain and cotton
10 exchange IN Inc market.
The bond market was fairly active, with
fractionally higher values prevalent in the
speculative issues. Some of the less known
securities displayed aggressive strength and
a general demand was apparent for the
middlegrade issues. Fluctuations gener-
ally were extremely narrow The aggre-
gate sales were s1,015000.
Government bonds were well supported
80
0G).
FOREIGN STOCK MARKETS.
New York, uly 1.-THE Evening Posts
London financial cabiegram says: The
stock markets were quiet but steady today.
LOANS. EXCHANGE AND BONDS.
New York, July 12-Money on call easy
at IL per cent; last loan per cent; closed
offered per cent Prime mercantile paper
3Gi per cent. Sterling exchange steady
with actual business in bankers bills at
siS5d4s714 for demand and at S4s6 for so
days. Posted rates 81. S61aG4.s71k and A.sS6
4.sSla. Commercial bills a.S5A. Bar silver
coz. Mexicon dollars AZ. Government bonds
strong: state bonds dull; railway bonds
steady.
TREASURY STATEMENT
Washington, D. c., July 12-Today's
statement CT the condition Of the treasury
shows: Available cash balance s2S4, 4O5, SIS;
gold reserve s14o. 100,lJ0.
EUROPEAN CROP PROSPECTS.
Lordon, Eng, July 12.-According to the
Mark Lane Express il is said that the Eng
Fish wheat crop will show an average of IS
bushels to the acre, which is about two
thirds below the normal.
The same authoritw. commenting on the
report that the Russian crops have been so
seriously damaged during the last fortnight
that the government is preparing to take
exceptional measures for the relief of the
agricultural districts, says:
This is strange rumor to reach us in
July and we advise the public to be charN
about accepting it,