The Wichita daily eagle., 1897-06-20
STOCKS AND BONDS
PR0FIT-TAKING oN LARGE SCALE
IN TIE STOCK MARKET.
Net Changes Small, Between the Early
Buying Movement and the Later Real
ixipg Movement, But Most Shares
Eeiow Fridays CIose-Week's Feature
the Markets Resistance to Efforts to
Prodacs . Reaction-Enect of the Tariff
BIZ and the Hawaiian n Treaty-The
Gold Reserve and the Bank Statement.

Gold Reserve and the Bank statemect.
New York, June 1s.-Today's stock mar
ket again reflected the constant watchfui-
ness ot the large professional traders for q
reaction, the days profit-taking being On a
very large scale. The net changes are very
small. owing 10 the early buying movement.
which carried prices OF most stocks quite
sharply above last nights close. But thu
reaction brought about by HE realizing
movement and by sympathy with the heav,-
ness IN Sugar, left most shares below las.
nights close. ne trading was dull and
showed very markell dimirution in the
range Of activity. The volume OF the total
dealings was small, and one-third OF the
whole is credited 10 Sugar. Much OF the
selling OF this stock was attributed 10
Washington orders, supposed TO be based
on information Of the sugar schedule OF the
tariff bill being in danger IN the conferences
stage. Chicago Gas showed a sharp fac-
tonal decline from the best price adding 20
the heavy tone OF the market Northern
Pacific preferred and Mon Pacific were the
most largely dealt in OF the railroad shares,
and each sagsed point at the lowest, with
only a feeble rally. The selling OF these
stocks was attributed 10 foreign orders 20
realize. the recent foreign buying having
cisco grst preferred showed a notable re-
action from its recent strength, falling of
rs per cent, but a subsequent rally gave
back almost all the loss. The GoGlds were
a weak spot il the market, and showed a
wide recession, but Western Union rallied
10 above last nights close. On the other
hand, Lake Ere and Western Preferred,
and Minnesota Iron registered an advance
of 2 points each, and Edison Electric OF
BROOKLYN IL per cent. Sugars extreme
rs per cent The closing was firm and
closing prices as rule were above the low
est, but net losses were general throughout
the list.
The total sales OF f-stocks today were So
i35 shares, including: American Sugar. e.
Northern aPcinc preferred, 40; ST. aUl,
1850; Union Pacific, 4,70o; Western Union,
500
THE WEEK REVIEWED.
he feature OF the week has been the firm
resistance of the market 10 the efforts at
reaction Of professional operators. On Tues
day and Wednesday. there was continued
heavy selling TO realize. some OF the largest
operators on tie oor being crediatei with
a complete turn in their holdings. The trad
ers based their action on the theory that
reaction was overdue IN the market be-
cause the advance had been so steady and
SO long Continued, for a month principally
without a break. The manipulators for
decline had no ground in the general con-
dItio1 10 Offer as an a. glnent the general
condition continuing much as il had been
ever since the advance had begun. Their
Efforts TO break the market proved a sig
nal ta.ture, and all Joined the long side on
THURSDAY. The change in the general Level
OF the market IS indicated by the conpar.-
son of prices Of some active shares at the
close on Saturday, May % and today Ad-
vances ara: New Jersey Central, 1884 Per
cent: Sugar, let4 (dividend on); Consolldat-
ed Gas, Burlington and Quincy and Chica,
go Gas, fraction over per cent each;
Rock Island and Tennessee Coal and Iron
over per cent; Northwest, Delaware ard
Missouri; Pacific and Western Ur>
ion points or over. and s.. Paul, Louis
vile. Leather preferred. and Northern a.
oifc preferre6 over points each. TIE
number CT stocks showing lesser gains it,
creaseS. but with few exceptions all prces
are Aigher. Railroad earnings show i'm
lroverneuts in that time and the finances of
tne companies Immediately concerned are
N be ter condition: but the higher prices
quoted DO not by any means represent the
immediate return II money hoped for from
II the companies. They must
be accel ted rather as the barometer OF eS-
pected and hoped-for Improvement in The
business or the country at large. Il -
certain that the business OF the country a:
large has no. increased IN the last month
n the same ratio as the prices of stocks,
but the firm resistance OF the price Of stock
take them az the existing level IS a meas
ure OF confidence felt that business 5 abou,
70 improve IN proportion Probably the
progress Of the tariff b.ll on the
filal stage Of its disposal has been the mos.
Ell -oura aging to Wall street of any one fac
to-. The Hawaiian annexation treaty caus-
e1 Tomenrary trs-nor 60 pass along the
pocket nerve through the street. but the
complacent attitude assumed toward The
matter by the powers OF the world has
Quteted apprehension as 70 Japan'S protest.
The latter part Of the week showed some
growth OF apprehension over the new in
pecus given 70 the gold movement. and the
hardening OF exchange, said TO be due 20
the drawing Of exchange for tourists ac-
count and for July settlements of dividend
snd interest payment on securities held
abroad But Wall street has taken note OF
the fact the gold reserve an the treasury has
almost stationary a. 4 Ittls above
land for today a little below Sii4. .g0 fs0 ever
SINCE May - The amount Of specie held
by the New York banks has increased since
the date named from $: 80. so 70 So go go.
held today The gold shipped from the
country by gold exporting houses since the
same date amounts 70 8 E77s4 The ship
nents today. amounting 70 $50 go and those
!. .O0l. have not yet appeared n the treas
Jry statement. Not all Of this gold VII !
be taken from the treasury. bu1 the with
1rawaIs will probably be sufficient 10 bring
iaz reached in the present golf- shipment |
The increase Of SIS. 30 n specie in New
York hanks this week. IN view Of the fact /
That $sa.0o0 in gold shipped OF Thursday !
Vas al taken from the banks. IS worthy OF /
cot. The weeks advance n the rrica OF /
that Il has been independently OF London. !
where the dealings have been apathe-ic. !
wing - dealers being absent with the rest /
Il the pubic n the jubilee celebration. T6> /
-r-- II
Consolidated Gas gaining s7s per cent. East |
River g. per cent. E,sst RIVER preferred I
"a per cent. and Brooklyn Ju.oa Gas 81 1
per cent The granSers have been strong I
md the gan II the group averages over 4 !
1oint. St Paul preferred leading wi,h =.
,er cant Cotton OIL preferred < u. n.r /
,eat higher; Chicago Gas. Starch. second /
preferred: Minnesota Iron. Adams Express
iowa Central preferred. Lake Erie Gli !.
Western. ard Suscuehanna and Wss,s-, 1
0I. Pullman. ST Jossph and Grand Island /
irst preferred. ard Western Ca-on > points /
,r over and q large number OF stocks = /
Soint Or over. Declines were shown by 1
Oregon NAVIGATION preferred points; u 4
on Pacific =. per cent: Northern sPcsAs !
,-sferred Z Per cent. z11 Louisville an. /
Nashville : Per cent
BONDS
Tie bond market reflected fully the zrov> 4
ng confidence II the general situation II. /
-aIues OF TIE leading issues moved 70 11s-
er.aIIy oa extensive purchases Trai.ns 1
or foreign account vas = considerable I
-ola-ne sut was generally csrts-et = the 4
ow p-.csi liers, which wsre sakel for spse.
al investment account The variations = 4
,ss xlit-edxei issues were espec ally marx i
: with the s. Foul mortgages scoring is !
ixrrel,e Vibrations The aggregate sales
we're sl0. .liSos
Des'saES = Sove--usz securities were .
marked BY general E---sSs with tSe nev
OTIS COT zsrscuors for q -.se % - ~
.erl- ths highest price ye- attained sor Ia
ssue- TIE improvements II ether gradss
Se-s les noteworthy Nth rhe trzzl-g -zrh- 4
= Lz1--
TIE BANK STATEMENT
New York. June IS-The weekly hank