The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-23

Demand for New York Central Are
Potent for Stead.aess Fine Weather
Also Cheerios Mafter-But Adversely
Springs From New Jersey Central and
the Supreme Court Decision Affecting
Granger Roads in Particular - Effect of
the Sugar Trust Decision.
New York, March es-The market opened
! today with a tendency towards higher
prices, the stea6insss FOR American seeuri-
ties on the London exchange being reflect
ed here The strong demand for New York
Central also tended 10 improve values in
the Vanderbilt properties more immediate
| ly, but TO some extent all through the list.
This demand was stimulated by reports OF
! the early PRONUNCIATION OF the refund.ns
| plan. Chicago Gas had numerous support
ers and heavy orders for the purchase OF
| the stock were executed, the aggregate OF
| the shares sold reaching over eS.oao, max
| ing il IN leader Of the days market IN
volume CT business The bright season
able weather with its encouragement 20 re-
vival Of trade in some lines was also a fac
| tor IN giving strength 70 the opening mar
| bet. But in the course OF trading. other
! features soon developed which OVERRIDE the
| encoura g.ng elements. and prices were de-
pressed. New Jersey Central proved too
| heavy for any business 10 sustain and was
| the decisive factor in impeding the advance
! IN the market Well defined rumors were
/ in constant circulation, though with no au-
| thority given for their issue. Of an intcn-
| ton on the part OF the directors to reduce
| the dividend. The coaers seemed little af-
| fected and the decline in them was only
| fractional The statement of Northwest.
| showing a decrease in gross earning in
| February OF sT.3io. aggravated the weak
| ening OF the group. and robbed Northwest
| itself OF the strength injected from the
| common advance of Vanderbilts. The news
| of the day from Washington was the rever-
| sal by the supreme court OF the decision OF
| the court below, and the upholding Of he
| contract OF the government against the
| Trans Missouri Freigth association to fix
rates OF transportation in the northwest.
1t affected the grangers more Immediately
| than otherwise, but on account OF its far
| reaching possibilities, it depressed the en-
1 tire list The legality OF the Joint Traffic
| Association. under which the Trunk Line
| fixes and sppOrtions business. being in II
| tigation the supreme courts decision Is
| felt to have most important bearing on ira
| fic. The heaviness in the market was some
| what countercated for a time ny the stea-
/ dy demand for New York Central and Oma~
ha, the former touching loa per cent. the
least price yet reached in the present i'm
, provement. Cleveland. Cincinnati, Chicago
| and St Louis, OF the Vanderbilts. also
| showed gains and the others OF that group
| shared in the days decline Manhattan
/ and Western Union developed rather con-
| spicuous weakness in the late dealings. the
! former losing IL per cent, with a rally OF
| !. per cent at the close. Leather also lost
| N per cent, and the whole list fell or.
/ New Jersey Central advanced point. The
| decision al Toledo OF the Arbuckle suit IN
| favor OF the Sugar company only slightly
| affected Sugar shares. as the prosecution
of the war which sought 10 enjoin has been
| rather depressing influence on Sugar.
| The total sales of stocks today were 49,,
| 257 shares. including: American Sugar. 90
| 700: Burlington and Quincy. 49, 800: Canadian
Southern, LEO: Chicago Gas trust receipts
| 1900: Manhattan Consolidate, 1000; New
York Central, 1900: Northwest, 3.7o0; Read
ing $500: ST. Paul. 1850; New Jersey Cen
trial. $500.
In the bond market the changes were not
wide except In a few Instances. and the
| undertore of the market was fairly firm.
] The sales were Sl350Jo.
Governments were a fraction lower for
| the fives and new fours on dealings Of So,
600.
FOREIG NSTOCK MARKETS.
New York March 22.-The Evening Posts
London financial cabeigram says:
| THE stock markets were steady but stag
nant today. awaiting political developments
| Consols were up TO 1l2. Mines were good.
The settlement IN mines win begin tomor-
| row. Americans were duh. New York
buying OF New York Central was the only
feature. The close was steady. a sharp
rise in silver is partly due TO the state
ment that the japanese government will
not sell its present stores OF the white met
| al. The continent and Japan continue 10
| buy gold. The Paris boursc Is in the same
condition as the London markets. There
is simply no lead yet in either direction. ana
even the largest financial houses appear 20
| have no special knowledge inducing them
TO operate"
| LOANS AND ECXHANGE.
New York. March money on call easy
! at l1e61A per cent: prime mercantile paper
4 3izd4 per cent: sterling exchange steady.
with actual business in bankers bills a.
| s4s7d4s7l. for demand and HSitl4Siz
for sixty days; posted rates "a ssfifS5Is and
siSsG4sSiz: commercial bills 3isfz: silver
! certificates sZssas3; bar silver g; Mexican
dollars 4sz.: government bonds arm; new
IS registered and coupon 1914; So register
/ eed HE'S: SIS coupon lbs; a. registered iis:
| coupon Tii4: Is registered s5iz: Pacific s.
| OF rs l03
BANK CLEARINGS.
New York. Mrch 22-Clearings 30. 5.7si
| balances g. SOS SIS.
Boston. Mass. March z-clearings sil,-
7o2. 325; bslancbes 81, 1850.
Philadelphia. Pa. March z.-Clearings g.
! s77,9z3. balances Sl.3is.sG.
Baltimore. Nd. March ez.-Clearings 81
eos0i3: balances $3.50
| ST. Louis. No. March 2z-Clesri1Es =. rs
eos. balances t9s.7S3. Money 547 per cent:
New York exchange = cents premium BID I:
20 cents asked.
TREASURY STATEMENT
Washington. d. e. March z.-Today's
! statement OF the condition OF the treasury
shows: Available cash balance s-1s GO 81
gold reserve Si5i.fil AZ