The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-07

| New York, March 6.-Today's stock mar
ket was again almost wholly in the hands
| of the professional element. The course OF
prices was rather irregular and fluctuations
were quite wide in many shares but the
result of the days trading left prices about
where they Started, a net decline of trivial
proportions being registered at the close.
Prices tended downward at the opening
the tone being reflected from the London
market, where Americans shared in the de-
preston which oyershadows all values
There was a continuation of selling for
London account in this market. The rail-
way list absorbed the large portion of at
tention. especially the grangers and the in
ternational stocks. The volume OF dealings
in both ST. Paul and Burlington exceeded
that in Sugar, the usual leader OF the mar
kel. The other high-priced iniustrials were
comparatively neglected. st. Paul was sold
by London for time, but showed good re-
sistance. Louisville and Nashville on the
other hand, which was also heavily sold by
London. succumbei more easily, and rail-
he'd feebly from its decline. The decrease
in earnings and increase in operating ex-
pelseS indicated by the recent reports OF
this road also affected the price. The an
thracite coal group confines in state OF
depression on account of the pers!stently
UnfaYorable outlook in the trade New
Jersey Central was especially a center OF
bear attack, and fell Ia per cent. The
fail IN Louisville and Nashville amounted
TO per cent. The Nanderbiits also weak
ened or the absence Of support, and went
of with the grangers and the balance OF
the railway list Omaha lost i. per cent,
New York Central Is per cent: Missouri
Pacific Il. per cent, and Rock Island ! per
cent. Consolidated Gas declined a point
and the other grangers, Sugar and other
leading shares. yielded 2.G7s per cent New
York Central failed 10 profit by the subse-
qGent rally in the market. and closed 81
the lowest on the report being in circuia-
ton that no immediate steps would be
taken towards the refunding scheme By
which IL was expected the road would soon
BE- benefited. There was a cessation OF
the selling movement in the last half-hour
OF the days trading. and movement 20
cover over Sunday by the shorts developed.
The bank statement was accepted as fav-
orable with the increase shown in the
amount OF loans OF 81 5000 indicating an
Increased demand for money for mercar-
tile purposes. Under these favoring cir-
cumstances. prices stifened throughout the
entire list. Omaha. for instance, regained
the early loss The closing was steady and
the average Of the net losses was trivial
The total sales OF stocks today were u
10 shares, including: Chicago Gas. 2.3o;
Burlington. $40: Louisville and Nashville
5,soo; 81. Paul $40.
THE WEEKS REVIEW.
The net result OF the weeks trading
showed an improvement in TIE marke: and
a higher level for prices. though the gains
in the early portion OF the week have not
al been maintained. PROFESSIONALLY ira
most important Actor in the improvement
vas The issue by the Lake Shore % s.. on.
90 1sl-year gold bon6s "a The race OF -
per cent for refu16ing pslrpcS=s- This
issue vas authorized ana perfected on Tues
day and the effect or the values al through
the list oT stocks was marked and irnrne-
dite. Lake Shore had already Jgnyei %
points, 20 L. Per cent. on t1- foreShz5ow
ing Of re loan. Tbs i0g rate CT Interest
a Which the bonds were foaee1 and the
good prfNss which they Immediately took
set Ire u hole street TO looking Gp re s:z-
tvs OF TIE rztiroad properties n TIE matter
Of per cent bonds maturing II tae zsxt
feE years and Which VII tnss d zTsilsbss ,
Interest charges New York Central. With
s47.eo 90 OF : Ter cent bonds coming due II
TIE usxi five years. ard w.ta its Na11s--