The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-16

| New York, Feb. 15.-Ihere was larger
| volume of trading on the stock exchange
| today than for good many days. The &C
! tivity was practically confined, too, to the
| first few minutes after the opening, when
| the whole list tended downward, and 10 the
last hour, which saw smart rally and gen.
eral net gains on the days transactions.
The slump in prices AT the opening was
wholly due to the influence of the panicky
| condition of mind reported on the contin-
| METAL bourses and to the fall of consols and
| other securities in London. American Sc
curities were affected along with others.
| and the option prices were on level with
London quotations. The progress Of hos
| tIties reported to have occurred between
| Greece and Turkey indicated to the minds
| Of the traders that an embodiment of the
European powers was an inevitable con-
| sequence, and they sold accordingly. The
| bears were not slow to press the advantage
| thus offered and they found still further
| arguments for lower prices in the hearing
| of the legislative inquiry into trusts. oLn-
don also sold at the opening. Although
| this selling movement lasted only a few
minutes after the opening, the industrials
| and the international stocks all registered
material declines while it lasted Sugar
| fell ;s per cent, Tobacco q per cent, Chi
Cago Gas per cent, General Electric Is
per cent, Leather preferred ia per cent,
Rubber preferred q per cent and Amr:can
Spirits IL per cent. The coalers were also
especially susceptible to the bear efforts,
owing TO the condition in the iron and steel
trades. Colorado Fuel lost % per cent,
and Tennessee Coal and Iron IL per cent.
Il
the depression in this group and maintain
ed aggressive strength throughout, ulti-
mately closing with gain of > per cent.
Of the railway list, the international stocks
were most notably affected by the early
decline, ranging as follows: Atchison pre-
ferred IL per cent, St. Paul Is per cent;
Louisville and Nashville q per cent, Kan
sas and Texas perferred 15s per cent, Read
ing IA per cent; Northern Pacific prefer
red q per cent, and Southern preferred u
percent. The volume of sales fell off at
the lower level and a period of stagnat:on |
and almost utter apathy ensued, quotations |
only being registered at long intervals. 1t |
was not until the closing hour that the |
rally set in which proved more general and |
animated than any movement of stocks for |
many days, and which carried the average |
price of securities to the highest of the day. |
The rally was doubtless due, for the most |
part, to the more favorable aspect of af- |
fairs in Europe as reflected from the war;
Gus bourses and from London. A convic- |
ton seemed prevalent that the powers were |
in substantial accord in their intention to
prevent the Greeks from attacking Crete. |
London bought quite heavily and general |
tone Of assurance and confidence pervaded |
the market. The increase in the eastbound |
EhinmpufS fbn v-aeL also M |
tanning influence. The following were the
gains recorded on this rally: Sugar, |
per cent; Tobacco. 21s per cent; with a
final reaction of q per cent; Chicago Gas.
IL per cent; General Electric, per cent;
Leather preferred, 2is per cent; Rubber
preferred IL per cent; Amrican Spirits pre-
ferred, IS per cent; Tennessee oCal and |
Iron, 124 per cent; Atchison preferred IL
per cent; st. Paul, l per cent: Louisville
and Nashville. rs per cent; Kansas and
Texas preferred 11a per cent; Reading, 1as
per cent; Northern Pacific preferred IL
per cent, and Southern preferred, q per
cent Manhattan was feature of the mar
ket, showing a decline on liquidation, ow-
ing to the unfavorabie statement, to S6si
per cent, the other ABOVE shares giving way
slightly. There was extensive covering to
augment the general rise, closing prices
The total sales of stocks today were 49,
692 shares, including: American Tobacco, |
l0,500: Atchison, 1890: American Sugar. 81
200; Burlington, 11,iOo; Chicago Gas $500;
Louisville and Nashville, AGO; Manhattan,
1890; Northern Pacific preferred. 800; |
Reading, S,4c0; st. Paul, 1860; Silver GER
1000; Tennessee Coal and Iron |
II, 800; Western Union $500
The bond market fell off in sympa thy |
with stocks and the subsequent recoveries
were for the most part trivial. The mar
ket displayed a react.onary tendency, IN
der the same influence as stocks. The deal
ings were mostly confined TO the low
priced issues. with Atchison adjustment As
and Kansas and Texas seconds registering
the extreme losses of IL per cent and 17s
per cent, respectively. The changes in the
less active mortgages We're not material.
save in a efwinstances. with international
and Great Northern seconds conspicuous
by rise Of SIS per cent. The market dis
played some irregularities in the late ses-
sion and Reading first incomes and Aatchi-
son adjustment As rallied sharply. The
tone. however. was heavy and the
closing weak. Sales S1,450,0oo.
Governments were in brisk request. with !
some Improvement in prices on purchases |
by prominent banking interests. The slug
sishness Of the general speculation is fore
ing considerable amounts OF investment
capital in these securities which fails TO
secure adequate employment in the stock
market.
FOREIGN STOCK MARKETS
New York. Feb. 15.-The Evening Posts
London financial cablegram says:
''Bcsauce OF the political situation the
stock markets were fat today with wide
fluctuations. Consols opened at 1I2I.. fell
10 1lli., and closed at H. Prices at the
close were generally better on the less pan
7iky condition OF the continental bourses.
The latest report IN the stock exchange |
his evening was that Germany IS 10 inter-
Eene, with the consent Of the powers. be- |
ween Greece and Turkey. This is only
stock exchange information. but believe
[ because il determined the tone at the
lose. There was good buying today al
he reduced prices. Americans were fat |
n sympathy with the other markets. ST.
Ter was fat and much disturbed by cables
'eporting that Japan is about 10 adopt the !
gold standard. The report IS probably no:
without some foundation. but il is more
probable that Japan is aiming simply a a .
;old war chest. II so. that means further ,
Of cash from the Bank TO take | {
,oid from the open market. The Pans and
Seriin markets were better. after a panic
" fall"
Paris. France Feb. I5.-On the bourse
lere today business opened panicky. but :
ifter fluctuations there was a recovery al
he close. {
Barlin Germany. Feb. Is.-Business On the ;
course here today opened fat in all depart
nents on the news from the east. agra