The Wichita daily eagle., 1897-06-18
STOCKS AND BONDS
UPWARD fEEDEgCY OF SHARE
VALUES Is RESUxED.
Powerful Group OF Traders Have Been
Preaching Up the Sweetness OF Adver-
sitJ's Uses Even In stock Markets.
Which May Get Too Gay il Allowed to
Advance All the Time-APpreheps:on
Based on the HawAiian Treaty DisAp-
pear-Eoreisn Operations Very Limi,ed.


New York, June 1.-THE strong upward
| tendency CT prices for securities was re-
| sumei on sae stock exchange today after
| the reactiolcry tendency OF the i1st two
days \ powerful group Of professional:
traders have bean selling out their holdings
! during Tie two previous days TO realize
| profits. They have coupled this ma1euvre
with the expression OF the conviction that
| the market would prove The heavier for =
| reaction. rather than with 700 Iozs con-
| tiEuance Of 2 steady advance The reac-
! ton has no. been caused by any general
/ Indicated By the above fact, which IS largely
the result OF manipulation with view OF
/ keerIng Up IS tone. Yesterdays selling
was accompanied ~ some expressions of
apprehension regarding possible foreign
| complica tons growing out ot the Hawaiian
I annexation project But IheSe apprehen-
! sions were heard 70 more OF today. The
reaction had not reached serious propor-
tio-s ard the offerings % realize have been
| We'll absorbed. Today's developments In
dicated either that the large operators have
| completed the taking OF their profits or
have found the market TOO firm 10 effect a
| marked reaction They were IN The fed
| as large buyers again today, ard all the
| smaller operators hocked 20 their leader
| ship 10 swell the demand for stocks. The
( buying seemed directed again 70 the Lead
/ ing stocks, in which the strong upward
movement Of three weeks ago originated
/ and which have been for some time station
/ ary, while t1e bull campaign was directed
to other groups. Tie market today was
| largely professional, commission house buy
/ ing not being conSpicu0usly in evidence
/ This class OF buying has diminished durirg e
| the reaction OF The previous two days. as
was 10 De expected. Operators for the for
| eign account were also OF small Gimens OTIS,
London bang engrossed with jubilee festi-
| vities, though some selling for London was
| done early in the day. Prices for Ameri-
| cans were lower in London, and this work
J ed an early decline for the International
/ shares. which was practically the Only e1-
ception 10 the uninterrupted advance OF
the whole market all day. except profit-tak-
| ing sales al the close. The small lines OF
short selling which were put out in a tenta-
! tive way yesterday were driven 20 cover 10
/ day and added 70 the strong factors in the
/ market Some OF the specalties enjoyed
the benefit OF special influences, and this
also added to the strength OF the market
st. Paul was the leader OF the market in
/ volume OF transactions, with over &c. 90
shares. Chicago Gas. Burlington and Sugar
/ coming next in the order named ST Paul
was retarded by London selling. but was
strong OF -he second weeks statement
! showing an increase OF nearly So. 900 IN gros.
! earnings. and, Ike the first week earnings
/ the largest for the corresponding period
/ since 1893 Des Moines and Fort Dodge
| preferred jumped per cent, to IS per cent
/ bid. on the announcement Of the dividend
! OF Per cent Susquehanna and Western
preferred advanced Sa per cent. and Cotton
Oh ~ per cert. Delaware and Hudson
moved over a range OF 21< per cent, and
| closed q per cent lower on the day The
/ net gains. which were general through
! the list. reached a point or over in Sugar
Chicago Gas. Tobacco. Starch. Rock Is-
land, Burlington, Northwest. Omaha. New
Jersey Central ard Manhatta. Northern
! Pacific preferred was heavily dealt n and
advanced 7s per cent.
| The total sales OF stocks today were 20
~ shares. including: American Tobacco
3,4G9: American Sugar, 1880; Burlington
and Quincy. D, 40: Chicago Gas. y, 400; Del
aware and Hudson. 400; Louisville and
Nsshv.lleti, 4.9oo; Manhattan consolidated
| go: Missop-i aPcific. 3 20: Northwest. T.
so: Northern aPc.fic pr5ferrei. Il 800: Or1a-
ha, $500, Reading. 4lO0; Rock Island, L.
500; St Paul. 31.ioo: Tennessee Coal ard
Iron. acc: Union aPctic, 100; Western Un-
iou, S.so0; Southern Railway preferred. a.
100: New Jersey Central, 7.40o
The bond market continued 20 display
marked strength. which was most rlanffes.
| IN the rniddIe-graIe issues. Gains Of sub
stantial fractions were made IN the active
-
gages ware conspicuous for material gains.
The inquiry for investment account was N
| large volume, and purchases OF the inter
Ia cIor-al bonds in cont-nenta; orders was
quite heavy. The aggregate sales were 81
cS7ouo.
Governments were neglected bu: quite
firm. The sales we're $50
FOREIGN STOCK MARKETS.
New York. June 1.-THE Evening Pests
London financial caolegran says:
The markets here today were quiet .x-
cspt for mines, which were bueyaat Big
houses supporting their spec.alIies. TIE
tone o. the other markets opened rather
dull but gradually Improved Up 20 The close
Americans closed Qunet a; the best but ex-
cept for Lake Shore were lower for TIE
day. The market al Paris vas dull and a,
Berlin steady"
AN EXCHANGE TO CLOSE Up.
Chicago. Ills, June 1.-THE Chicago
stock ard MIXING board VIII probably "a
cut ot business after July = The directors
OF Ire board have held q meeting for the
purpose OF bringing 20 al end the Official
-fe os the association No acttcn was
taken but Il was decided instead 70 cal z
meeting ot al the members. 70 b held
July 20 vote On the proposition Of cIos,ng
the exchange. President John Nar5.- zad
Secretary Burkhoi5er ara ho-h reported .
be n favor % the 6iscou .znuazce os TIE
board and al ot TIE directors are said %
favor such a cau-se- TIE assets VII be
divided among the members !: ihs sssocia-
ton be c.sbsaie1- Z such an event each
member would receive n re nsszESoraoos
.. "a
LOANS, EXCHANGE AND BONDS
New York. Ju1e I7.-Aonsy O. czT nom
tnaiIy ITit4 per cent Prime ms-caz.i.4
paper Sa4 pe- cent S,er-.;.g sxchz-gs
s-n. wft1 actual business = bankers bis
az .i-S7A. for demand. and az = ss74 a. for
sixty days Posted ra;.s u ss5s az ard
.-s7- Commercial bis - ss1s- silver ce-tsa-
ca:es sS-SsL Bar silver So. N-xscza
dollars A.. Government boz6s FRI. zsx
tou-s registered. La-s: coupon. igi<. erss
registered LA: coupon Ia: :oars rsz.s-
:s-ed Ii-is. coupon IL; tEo= registered -
Pac-1c ssxes CO - iGz5
TREASURY STATEMENT.
Washington. =. <. June --Toszv's
s-a;sasn, CO re coz1sson Q, fAe treasury
shows, Ava1lzSis cash 5aiz-cs u z-so:
god reserve S-i:-s..&