The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-10
STOCKS AND BONDS
IMPROVEMENT IN STOCKS MARKED
AID DECISIVE.

Bearx Make . Desperate Seand. With Par
tial Success. But Rally In the Last
Away All Traces Of Theis Enorts-Dis.
iributioa Of Large Dealings somethins
Remarkable-RaIiy b Interpreted ~
Confidence in the General business Osf.
iook-CIoss Strong It the Top.
New York. June a-The stock marke,
| propclaimed today with extraordinary en-
| phasis the vitality and f-nness of the n
I proveC1ent IN values which has been echiev-
! Cd II the last two weeks The resources
/ OF the bears were exhausted N partially
/ effective efforts TO bring about a general
! face or the strong rally Of the last hour.
| which carried The whole market with an al
/ embracing surge % Z higher plane, w;pins
! out the losses which the painstak-ng effort
/ OF the bears had accomplished earlier -
! tie day ard driving then ID cover losses
/ By hasty purchases On the fast rising scale
i Of prices. The dealings in the LAST hour
Z were characterized by great animation. ard
( the volume OF sales. which had been small
/ for TWO hours previously, was brought up
10 a total considerably il excess OF that Of
7 yesterday. which was the largest since the
/ present period Of activity in stocks To-
! days transactions in Sugar also were only
about half as large as yesterday, though
the days sales in that stock still footed I'D
{ ne
St Pauls and Burlington came next il
the order named There were nine stocks
in which the dealings exceeded 1900 shares
and some th-rty-hve in which TIE sales ex-
cee1ed thousand shares This indicates
greatly improved Distribution Of the deal
ings- The force OF the rally s probably
Best interpreted as the assertion Of the
confidence Of the theory that marked re-
action IN the market was Imperative II
was this theory. coupled with revived ru-
H1ors Of crop damage in the northwest. that
CAUSED some traders TO make shore sales
for decline n the morning. The move
menr 20 cover developed how small a sup
ply OF stocks WAS Offering London SELL
Ing also helped the bears 70 some extent.
contradictions OF early reports Of damage
70 crops reflected IN the decline in the wheat
market, served 10 stifen the prices OF the
eransers sufficiently 70 put shorts 70 rout
There was large buying also on the tn
proved prospects OF the early settlement OF
lde tarin question, the demand embracing a
Wide range of stocks. The special strength
shown by number Of the Industrial stocks
aided the advance. The notable strength
SHOWN by a number OF iow-priced shares
OF re-orgaaized companies is probable at
Irloutaole 10 the return from Europe OF A
prominent fnancier whose influence has
been prominent in these denominations.
and who has before this enlisted large for
eign capital in American properties. The
strength Of Sugar, the leader, was also a
factor in the improvement The early de-
ciires were for the most part fractional. ex-
tending 70 about Z per cent IN the g-augers,
a point IN Sugar IL Per cent In New Je--
sey Central and Is per cent in Cleveland.
Cincinnati, Chicago and ST. Louis with only
partial recoveres. The rally extended 20
over point, and left substantial net gain
in the cases OF the srangers. New jersey
central, Delaware and Hudson, the Read
ing issues. Manhattan, estern Union. Ten
nessee Coal and Iron and Northern Pacific
sugars rally covered ~ per cent Stocks
that advanced throughout were Tobacco On
per cent; Tobacco preferred, per cent:
Electric point. Oregon Navigation ad-
yarced Per cent and Oregon Short Line
(when issued ~ per cent The closing
was strong and exceedin ely animated, and
generally az the top level.
The total sales OF stocks TO-DAY yer. aS =
5Sl shares. including: American Tobac eco.
$500: American Sugar, 1850; Burlington.
IS. so; Chicago Gas trust receipts. $40; Cen
eral EsecCrc. 51Gl: Louisville and Nashville.
$40; Manhattan consolidated. $50; North
ern aPcihc, 1850; Rock Island. 1850: ST.
PAM. 4.S0; St Paul preferred. 500; Tennes-
Sac Coal and Iron, 1900; Western Union, Ia
30; New Jersey Central 1870
the bond market was less animated but
q good undertone continued apparent vita
some OF the reorganization issues inprov-
ing materially. The demand for foreign
account was fairly moderate and included
speculative and investment issues Of the
prominent lines. Detroit Gas SIS vibratsd
violently. ranging from 50 to s. per cent ard
closing AT 81 per cent. a gain OF !. per cent.
Oregon Short Line consols SIS trus; receipts
were largely dealt in and gained per cent
The sales were s, 6I7, go.
Government ruled firm with transactions
light The sales were s1e,uo
DIVIDENDS DECLARED.
Boston, Mass, June 9-The directors OF
she Calumet and Eecla Mining company
have declared a dividend OF so per share.
payable July ! 20 stockholders OF recor.
June Il The last previous dividend was
s. ard was paid April 9. ard totay's an
nounced so really amounted 20 an extra
dividend OF 3 and brings TIE total payments
htus far tbs calendar year up 70 81 per
share as against IS for TIE corresponding
period last year.
New York. June at was officially an
uouncsd today that the dividend % per
cent CT Oregon Railway and Navigation
company preferred shares. payable July J. |
IS 20 De taken cut OF the earnings for the
fiscal year, and Tot out OF the returns for
the quarter. IL the same tine, Il was GEM
officially stated that an atditionai pay
mezt may De made du-irg The present cal
Ear year 4 business continues TO In
prove
New York. June s-Ta. directors o: ths
Western Union Telegraph company today
declared the regular quarterly divie1rd Of
i. per cent n accordance wiz the recon-
menda-iOn OF the executive committee yes
teriay.
New York June She directors q the |
American Sugar Refining company today
--~-aA-- . 4Ss--1A --4- 80 -A'----'A- ~
Per cent ca COMMON stock and u. per csI;
and preferred stock.
FOREIGN STOCK MARKETS
New York. June s.-TAs Evening Posts I
Loz5oz financial csbleg-zI says;
Al the set-lenzs1t to5sT. more employ
me1t vas found for nancy. TIRE SPec1iz-
tive account having Increased slightly. but
rates. however. were moderately ior. aver
aging 70 more chaz S-E3 pr cent g |
Americans. TIE coarI1ve5 d-l-ess % -aa !