The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-05
STOCKS AND BONDS
SHARE MARKET CLOSES AT GAINS
AND TIE DAYS BEST PRICES,

Realizing Sales Cut Little Figure, Oner,pss
Being at Once Absorbed Drive 1t Chi
caEo Gas Causes Recession, Subse-
quently Overcome sustaining Factor
In the Market b the Outside buying
London Buying Curtslled- Gold Ship
ments Little Noticed Bonds In Cnahatsd
strength-week's Review.
New York, June 4-There were some room
traders on the stock exchange today who
stability OF values at the improvement
| which has been sustained now for the
greater part OF two weeks. This element
took their profits from time to time. during
| the day and their selling had slight tenn
porary effect by causing small recess;ons
N the more susceptible stocks. But the
| offers 10 realize were absorbed without
notable effect on the general market, which
remained strong and firm all day. and
closed at practically the best prices Of the
| day. net gains being the rule. which ex-
tended to noteworthy proportions in some
/ of the specialties. Chicago Gas was the
center Of strength, which Il has enjoyed
! for quite a heightened period. A determ.1-
| ed drive was made against this stock along
| towards the close of the market, apparently
with the purpose of effect:ng a decline n
the general market by inducing sales to
realize, as was done yesterday. The gas
stock was, in fact, driven down X per
cent. and some losses occurred at the same
time in the general list. But there was
no such rush to realize as marked down
prices ct the close yesterday, and Chicago
Gas more than recovered its loss. and tn
market generally rose to the high point
before the close. The newly re-awakened
outside interest IN the markets, made mani
fest by the commission house buying, was
the noteworthy sustaining interest in the
market Orders were forthcoming in all
the leading stocks upon the smallest recess
son IN price. There was a marked demand
for shares from the shorts in some Of the
stocks that have been heavily sold of late.
This was notably so in New Jersey Central,
the stock rising strongly "a per cent above
last nights close. and gaining points net.
The Reading shares also registered notabls
gains, and We're freely bought. There was
co:ncident advance of Lehigh Valley in
Philadelphia due to reports of the securing
cial interest identified with coal by taking
up an option obtained some time since. The
sales OF New Jersey Central ard of the d,f-
ferent Reading shares footed up 5000
shares. Chicago Gas alone absorbed over
10000 shares and Burlington and ST. Paul
another 1900 shares. This constituted con-
s.derably over half of the total dealings
Further scrutiny and study of the North
west annual report impaired aggressive
strength TO the stock Of that company, and,
by sympathy to the whole granger group,
constituting what Is aptly. though figura-
lively, termed backlog 10 the market.
Northwest's net gain was IL per cent. Lon
don was much less of factor than for sew
eral days past, though there were pur-
chaseS for London account in a number OF
stocks. These were probably curtaed on
account of tomorrow and Monday being.
holidays in London. The Gould shares were
under some special pressure, Missouri Pa
cific and Western Union both losing a frac-
ton On the day IN spite of an increase Of
gross earnings for the fourth week in May
by the former Of s7s0o0. The engagement
of 100000 in gold for shipment to Europe
was without appreciate effect on the mar
ket Fractional declines were shown in
Pacific Mail. Southern preferred, Cleveland.
Cincinnati, Chicago and st. Louis, and a
number of others. Gains Of a point or
over were shown by LeClede Gas. Metropol.
tan Traction. Susquehaana and Western
preferred. Tennessee Coal and Rubber, be-
sides those above specified.
The total sales of stocks today were 205,-
"a shares. including: American Sugar. 49,
800; Burlington and Quincy, 1890; Chicago
Gas. $500: Louisville and Nashville 400;
NJ yo
land. $3.50: ST. aPul. 1900: Tennessee Coal
and Iron, 400: Western Union, 5000: South
ern preferred. $500; New Jersey Central.
90 200
The strength of the bond market continu-
ed undated and considerable degree OF !
confidence was noted in the dealings. Large
blocks of the leading securities changed |
hands and investment interests took liberal !
amounts Of the middle and high-grade liens |
The constant absorption of the active inter- !
national mortgages by foreign interests !
tends 10 impart a considerable degree OF |
buoyancy to the general speculation. which |
is accelerated somewhat by the favorable |
developments in Individual issues. The |
aggregate sales were s2.254.coo
Government bonds displayed a hardening \
tendency. with the new tours absorbing the /
bulk of the Dealings. The sales were ST.
Co.,
FOREIGN STOCK MARKETS.
New York. June 4.-The Evening Posts
London financial cablegram says:
Business is still slack in the stock mar
lIets here. but the tone everywhere is good.
The only feature IS demand for Canadian
railway securities, Grand Trunk stocks be- I
ing inspecial request. The Paris boursV
opened firm and closed dull The Berlin
market was steady TO firm
London, Eng. June 4-Although tomor-
row : not a holiday here. there will be very
little business n financial and commercial
circles. Monday Will be observed as g.
general holiday.
FINANCIAL. REVIEW.
New York. June 4.-Bradstreei's financial
review. which issues tomorrow. will say
Not only have speculative and other values
in Wall street shown decided and almost
continuous advance this week. but the maj
ket has broadened considerably. The ac-
tivi;y has been or a decidedly increased !
scale. and feature IS the marked improve
.nent e. the amount OF public interest Lon.
don has been a bull factor. taking con-
sidersbly amount OF our stocks. Leading
operators here seem 10 be working on the
bull side, and there has been q resumption
d activity by pools Il. various stocks Tn.
basis for the movement seems 70 be the ex
oec;ed early passage OF the tar.h bill IN
he senate. which. the stree. beIsevs. VII
cad 10 an ending ot the inactivity OF gen
sraI business. ard forward movement In
all departments OF trade Il is. z fact.
equivalent 20 a partial discountirg by spec
Ilators OF the expected improvement; from
his cause. as well as Of the favorable crop
outlook and TIE anticipated good results n
connection with railroad traffic and earn
ngs The gTargers have been particulars