The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-02
STOCKS AND BONDS
O0ALERS ARE ABOUT ALL THERE
Is TO THE MARKET.
Heaviness In These Shares is the Days De-
cisive Influence and the Main Weapon of
the Bears-Neariy One-Third the Days
Transactions Ia This Group-There De-
yelops Later Resistance In These and in
the Goulds, and a Recovery Ensues-
Close Stron. at Top Prices-Bonds Firm
London Stagnant.

| -LCuooo
| New York, April 1-Today's markets
! might be pretty comprehensively summed
| up in the one word ''coalers." The heavi-
ness in these stocks. which persisted in
terTnittingly through the greater part OF
the days trading, was the decisive influ-
ences on the days prices and the effect
i've instrument Of the bear faction. They
also brought TO their aid, as yesterday,
a raid on the Gould properties. Out of a
total Of 212.0o0 shares sold, over 5000
shares were of the anthracite coal group.
The group was the incubus on she market
which restrained the undercurrert Of
strength that threatened TO break out
from time TO time. Finally, the coaiers
and the Gould shares themselves broke
through the depression and jumped 20 :
higher level of prices. Prices general
throughout the list a the same time rose
10 the highest of the day. The course OF
prices Of the coalers was very irregular,
an improving tendency struggling con-
stantly with the bear pressure. The i'm
Jersey Central IL per cent and Delaware
and Hudson rs per cert. In the subse-
quent decline, worked by the bears on
runors that New Jersey Central would
pass the next dividend and of the effects
OF bad business on al the lines, Lacka-
wanna fell ! per cent; Delaware and
Hudson and New jersey Central .; Sus
quehanna and Western preferred Ia per
cent, and Reading preferred rs per cent.
WheE these stocks began TO fuctuate the
bears opened a raid en- the Gould stocks.
Rumors were CIRCULATED of heavy dam
age to the ST. Louis Southwestern by the
foods and Of probable embarrassment OF
the company in meeting imminent bond
obligations. Tine st. Louis Southwestern
common stocks sold off 13s per cent, the
preferred 21a per cent, and the first and
second mortgage bonds 31a per cent.
Western Union lost 2 per cent, Marhat-
tan 1 per cent and Missouri Pacific per
cent. Vice President Edwin Gould met
the attack with a statement that the ST.
Louis Southwestern had lost nothing OF
value by the floods; that the floating debt
was nor troublesome; that there is no liza
loility pressing at present, and that there
should be no trouble in meeting the cou-
pom payment coming due May l. This
was supplanted by a statement from
President Fordyce that the May interest
was already provided Cor. The depression
had suffered from the coal roads and the
grangers and railroads generally fell a
fraction, the bituminous coal roads being
.aSnopia1lU q ffa0taI in ct-Y,o
was an undercurrent Of strength in the
railroad list, owing to the systematic eff
forts making among western roads 10
devise a plan for sustaining the Joint
Traffic association to advance the hearing
of their case. The heavness in the coal
ers and the Gould stocks weighed upon
the list. and in consequence, restricted the
dealings somewhat If the grangers
When brisk demand for the coal stocks
set in the shorts hurried to cover, and
the Gould shares also recovered on the
statement Of Edwin Gould. As conse-
quence, the cOalers recovered all of the
loss and more, New Jersey Central show
ing re: gain of rs per cent, and the
others fractionally, except Lackawanna.
which closed unchanged. The recovery
in the Goulds left the net changes in them
only fractional, except for Western
Ur,ion, which lost rs per cent on the day.
The grangers and the general railroad list
also enjoyed fractional net gains. The
industrials were not heavily dealt in, ex-
cept Chicago Gas, and were generally de-
pressed in the early part OF the day, ow
irg to special causes. Sugar suffered
from the retroactive clause of the tariff
bill, as the company was expected to
make large profits On sugar imported be-
fore the tariff goes into effect. Sugar
and General Electric lost III per cent
each, and Chicago Gas ~ per cent. In
the final rally stocks recovered all but
fraction of their loss. the Improvement
extending 10 fractional net gain in Gen.
eral Electric and Tobacco The cJos;or
Of the market was strong and generally
at top prices.
The total sales of stocks today were
2l1,S5o shares, including: Burlington
and Quincy 1890; Chicago Gas trust re-
ceipts 1920; Delaware and Hudson %
100; Louisville and Nashville 4. 900. Man
haitian Consolidated 500: Omaha 5000.
Read ding 1850. Rock Island 4.50O: ST
Paul $1,000; Western Union $500: New
jersey Central 26, 400; silver certificates
10000
The st. Louis Southwestern issues
were the feature of the limited bond on
creations and were alternately advanced
and depressed Considerable liquidation
has been apparent in these securities OF
late. and a reaction Of 5 - per cent. 70
50 per cent, was effected in the firsts in
the early dealings, but a recover. en-
sued to IS S-4 per cent, on statements by
officials OF the company defining the A.
nancial and physical condition OF the
property. Profit-taking induced a recess
sion to s. IA per cent ar the close. The
seconds huctuated less widely. but
showed a net loss OF per cent. The gen
eral market was featureless. but main
tanned a firm tone throughout. with
values Of the more prominent speculat-
i've issues appreciating slightly. The
sales were s95t, 900.
Governments held firm. with the new
fours conspicuous for an advance 70 I24
per cent. the best price recorded in some
time. The sales were 5000.
The rise n the pE-ce OF silver cartif- |
Gates today TO 81 IL per cent is attribut- |
ed 10 continual demand for covering in |
a reaction from the recen. decline
New York. April 1.-The Evening !
Posts financial cablegram says:
The stock markets. although stag !
nant today. were firm. after dullness. |
The onl yfsature was a rally in Katfirs |
Oh more fsvorsb bic cable dispatches rs % !
politics in the Rand districts Americans /
were weak and closed al the lowest; A /
good point IS the general Improvement /