The Wichita daily eagle., 1897-04-01


Side Incursions Into the Gould Domain
Senator Cuilom Is Quoted on the Pool
ing Bilrs Chancss-CIosing is Weak. Ne
Losses Averaging Point.
New York. March 31.-The bears succeed
ed IN effecting quite a notable break in the
market today, in the last half-hour of the
trading. The short interest, whose lines
are requted to have been greatly extended
since the Trans-Missouri decision OF the
supreme court. was palpably uneasy all
day on account of the marked resumption
OF strength in the market yesterday. A
continuance OF the improvement was evil
dent at the opening this morning, in spite
% the decline in prices on the London ex-
change, and a general advance occurred,
not exceeding frcation in any OF the ac-
tive shares, but reaching a point or over
in the case of Canadian Southern. Cana
Clan Pacific, Big -Four, Susquehanna and
Western preferred and Erie firsts. New
Jersey Central continued, under heavy pres
sure, to sell. The bears continued TO CEN
ter their attack on this stock all day in the
determined and systematic attempt TO stem
stock they made incur:ons into various
fields. The Gould stocks were attacked as
as group. Manhattan falling points, and
Missouri Pacific and Western Union l per
cent each. This induced some realizing
sales, but the market soon recovered, and
resumed its upward tendency. 1t was af-
ter delivery hour when an unexpected sell
ing movement set in in Delaware and Hud-
son. the only explanation offered being the
general depression existing III the coal trad.
The sales were not very large, but under
a persistent bombardment of small lots,
the prices went down by leaps and bounds.
the decline reaching SIS per cent, to 1905
per cent. The stock only reacted a frac-
ton from the lowest. Lackawanna broke
3l4 per cent in the last few minutes on
three sales of total of 100 shares. The
Reading stocks escaped any very noticeable
effect Of the raid except the first prefer
red, which declined rs per cent. The
heavy selling in New Jersey Central SIM
ultaneously resumed, and the stock was
sold down to a per cent, showing a de-
cline from the top, of points. Just at the
close it rallied a point. Much was made
also by the bears of the statement by Sem
etor Cullom. chairman of the committee on
Interstate commerce, that there was no
chance for the passage Of the pooling bill
al this session of congress. The whole mar
ket sold off, the losses reaching 21s per cent
in the case of Burlington, and Rock Island,
2I4 per cent in Omaha. Declines OF point
or over were shown in Sugar. Chicago Gas.
General Electric, aPcfc Mail, Tennessee
Coal and Iron, Leather preferred, Western
Union, Northwest, St. Paul, New York Cen
trial. Leather preferred, Southern, Clevelan,
Cincinnati, Chicago and st. Louis. Atchi-
son preferred and Louisville and Nashville.
Tobacco iuctuated widely on manipulation
rising 2A per cent, losing 1s4 per cent, and
rising 9ka:n 1ss per cent. Consolidated Gas
and Lake Shore rose Is per cent and IL per
cent respectively, but reacted 2l2 per cent
and 1ai per cent respectively. The closing
was weak, net losses averaging point in
the standard shares.
The total sales of stocks today were 24,-
766 shares. including: American Tobacco.
u, 800; Sugar, $4,000; Burlington, 81 100; Chi
oago Gas trust receipts, 1880; Delaware
and Hudson, 1890; General Electric, $500;
Louisville and Nashville, 1900; Missouri Pa
cific, $500; New York Central, 400; North
west, $500; Omaha, $500; Reading. $500:
Rock Island, $500; ST. Paul, 2030o; Western
Union $500; New Jersey Central. 1920.
Trading in bonds was in small volume.
but a iIrn tone was manifested. and most
of the leading issues made slight progress
toward a higher plane. Sales sSS5,oOo.
Government bonds continued 10 display
strength, but the higher range failed to
elicit offerings. and transactions were re-
stricted to purchases of $1,000 of the old
fours.
FOREIGN STOCK MARKETS.
New York March 31-The Evening Posts
London financial cablegram says:
The stock markets were iifeless today.
They opened dull and closed firm. with no
apparent reason either for the fat opening
or the firm close. Consols were Il2 buyers.
Argentines were good but the close was ~
under the best Americans were also good
but the close was weak, there being no sup
port. The Weymouth Old Bank. whose
failure is announced, IS a small provincial
affair, and its collapse is of absolutely no
significance. Money is wanted, being the
end of the month, but there were only
few applications to the bank because Of
the money released yesterday. Tomorrow's
returns is very likely TO show decreased
reserve. A small state railway in Brazil Is
understood 10 be defaulting on its coupon.
due tomorrow The Paris bourse was bet
ter after the dullness and the Berlin mar
ket was steady.
LOANS AND EXCHANGE.
New York, March 31.-Money on call easy
at HAS. per cent; last loan Il. per cent:
closed 11zG1S4 per cent; prime mercantile
paper 312a4 per cent; sterling exchange
easy with actual business in bankers bills
at S4sTis for demand. and 04.s52 for sixty
days; posted rates A.ssdlz. and si.ssGiS;
commercial bills S.s5; bar silver 81 ll-l6c.
silver certificates ei2.Gs29s; government
bonds strong; state bonds quiet; railroad
bonds firm
BANK CLEARINGS.
-(laars0QS go -dl
balances S5.105,E AZ.
Boston, Mass. March 5l.-Clearings sl5,-
070OS7: balances 1,o50.22s.
Philadelphia, Pa. March 31.-Ciesrings 80
s3l Ssi; balances S.f0S7s.
St Louis. No. March Si.-Clearings 81 |
So 80: balances S9l. 80; money easy At 59 |
Z per cent; New York exchange &c preni- |
um; soc asked
TREASURY STATEMENT.
Washington. D. c. March 3L-Today's |
statement Of the condition Of the treasury
shows: Available cash balance $29o. .si7.5 .55s; |
gold reserve sl5I, ,S54. .Ss5