The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-11
STOCKS AND BONDS
DAYS STOCK HARKET DEVOID OF
INTEREST.

Saturdays Two Hours No Great rhinEs at
Any Time, and On Top Of This ID the
London ExchasEs's House-Cleanias
uoliday-Heaied Term Takes Away
Operators, and Recent Events Give the
Market a Waiting Turn Of Mind-Dea
ings Excessively Light But Fractional
Gains the ResuIt-Week's Review.
New York, July 10.-Tne days market for
stocks was devoid of interest The two
hours Of trading on Saturday lack the usual
degree of activity as a rule. Today was .
holiday On the London exchange. set apart
TO house cleaning. The heated term has
driven many active operators in the mar
ket out OF town. and dthe attendance on
tie exchange was small Add 20 these
drawbacks that fact that the whole temper
OF the stock marke: has taken on a waiting
disposition. Would-be buyers and would
be sellers are both scarce, ard when they
appeared today they found themselves far
apart IN their respective ideas of prices. The
consequence was that transactions on the
exchange in the aggregate reached barely
half hundred thousand shares sold, and
one-fourth OF this amount was Sugar TINS
stock was erratic during the day on the
conflicting rumors regarding the tariff, but
did no; move over a very wide range. 1t
huccuated above last nights close during
the whole session. at one time going II,
per cent above. but closed with a fractional
net gain. Only ten other stocks were dealt
in to the extent of a thousand shares. The
gralgers were most active, next TO Sugar,
ard enjoyed continued benefit from the re-
ports OF good crop prospects. New York
Central was active and higher on account
OF the persistence TO the rumors that its
leading interests were about 10 secure con-
troll OF the Lenish Valley railroad. Pa
c:fic Mail added a fraction TO its price. ow-
ing to the continued belief IN an additional
dividend TO be declared. Chicago Great
Western, Des Moines and Fort Dodge, and
Keokuk and Des Moines preferred con-
tinued TO improve under market operations
OF inside interests, the latter stock advanc-
ing AZ per cent. st. Paul was sustained
by the first week statement Of gross earn
ings, showing an increase of over 81. 900.
Minnesota Iron rose point. and Ro Grande
Western preferred IA per cent. The Rub
Der shares were heavy, the preferred los
ing per cent, and the common per cent,
on the resignation of a prominent director,
and renewed rumors Of difference In the
control. The close Showed a majority OF
stocks a small fraction higher.
The total sales of stocks today were 1882
shares. including: American Tobacco. s.
coo; American Sugar LOO: Burlington and
Quincy $500; st. Paul. 7lOO.
THE WEEK REVIEWED.
The stock market has remained m a semi
letf argic condition during the week charac
teristic of the normal midsummer market,
but which many over-sanguine dealers in
stocks mad prophesied would be absent this
summer.
There have been indications of strength
in the market several days during the week,
but me upward movement of prces was
attained on very light transactions and the
intervening declines were effected almost
as easily.
The closing out Of accounts to take profit
preparatory to a holiday trip of a single
operator was an effective influence on the
market for one day. The commission
house business, which has reflected the
growing interest in the market by the out
s:de public dp to the last week. has prac-
tically ceased. The heavy buying by large
capital which sustained the market for 80
many weeks. is no longer in evidence, and
the conclusion of dealers is obviously that
it is prudent for the stock market TO wait
for general conditions 20 come up With II,
or 10 approach nearer to it. Some OF the
weeks Incidents have been looked upon as
giving less promise of progress towards
prosperity. But the prices of securities
have renamed quite significantly Arm, and
few wide -ccessions are TO be recorded. Tho
most attention in Wall street is paid az
present to the reports OF crop prospects
and to prospects for crop prices.
The frmness Of prices In face Of the dull
ness OF the market reflects the confidence
of holders of securities IN the accuracy Of
current estimates of the good prospects for
domestic crops and Of the probable neces-
stiles Of the countries which usually take
our surplus. ewing TO the prospective short
age in ether sources of their supply. The
granger roads have led the advance
throughout, and continues 20 show the
greatest strength and nrmness. The pass
age of the tariff bill through the senate. as
marking the conclusion OF a critical stage
in the final settlement OF the vexed ques-
ton, had been looked forward TO as fav-
cradle factor In Wall street But like all
such factors that are long in prospect, thi.
one had been discounted and was marked
by profit taking and a slight reactionary
tendency. The Ingenious professional op-
orators have managed 10 extract both
buIl and bear argument out Of the pro-
jected presidential massage on currency
the bears selling because they said
they were disappointed over action on the
matter being deferred. and the bulls buy
ing because they said they were glad the
early disposition of the tariff question was
not TO be jeopardized by the complication
OF The other question. The strike OF soft
coal miners has had It's effect in express
siors of confidence that the strike may lead
the way 10 an opportunity OF lettering the
dcpiorable conditions existing all through
the soft ccal trade. by improved wages. as
well as by improved profits TO operators and
transportation lines. The week has pass
ed without a shipment OF gold 10 Europe.
and the belief Is general that the years.
geld movement has come 20 an
end Sterling exchange has however.
shown 2 slowly hardening tendency. 81 the
week progressed. even in 4 very dull mar
kct, and II is reported today that small
order for gold for Europe & in the market.
ard may fna taker next week II exchange
continues 10 Use. The matter IL not. how
ever. considered important The COM
msncems.t OF grain exports promises
supply OF exchange, and there is dlspos.-
ton 20 sell Iorg exchange for future use
Ths sssfsited condition OF the r1o:ey mar
ket shows no prospect OF relief. though the
excess Of receipts from ;he interior Of god
and currency over shipments shows a ten
iency TO diminish
The law rae for call money has fallen
during the week from 4 % per cent The
re. changes in leading stocks for the week