The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-14
SHARE MARKET TAKES A LATE
TURN FOR TIE BETTER.
Reading Is the Center OF Operations and 10
Influential rs Regards Other Members
of Its Group. Though Scarcely in Pro-
portion tn the Enormous Liquidation in
That Properiy-Late Buying Movement
Sets the Values Climbing and the Close
isStronG at the Best, With Net Gains
Bonds Improvsd-Foreisn Markets.

list. This was the more notable in the
face OF the extraordinarily heavy rquida-
ton IN Reading. This had :ts effect, uiti-
mately. in spreading depression to other
properties, the railways, however. general
ly holding firm. In the final hour brisk
buying movement which had been gather
ing force since about midday, turned the
course Of the whole nlarke; strongly up
ward TO the top level OF the day, above
last nights close. The center Of interest
in the market all day was Reading, the
sales of trust receipts aggregating 44ur
shares, and ell the securities OF the COM
pany being actively dealt II at declines.
The enormous liquidation in Reading was
attributed TO the sale OF stock acquired by
! the underwriting syndicate on account of
non-payment of assessments. which was
unloaded in large blocks, LOCO share lots APP
pearing quite frequently n the transac-
TONS IN spite of these heavy offerings,
the decline ceased with loss of rs per cent
and a rally set In on the stock. The sup
port accorded the stock was credited 70
leading interest in anthracite coal. Under
this buying the price rose per cent, TO
1895 per cent. with only slight reaction a.
the close. Though the early selling acted
as a check on the market by discoura ging
dealings, the general market, and even the
fellow-properties of the anthracite group,
were not at first affected in price by Read
ings weakness. There was good inquiry
for New Jersey Central. apparently on q
feeling that the stock had been over-sold.
and the price advanced. There was reac-
ton in the coalers, later, induced by the
persistent selling in Reading. Susquehanna
and Western preferred losing IL per cent.
Chicago Gas yielding a sharp fraction, and
some stocks in the general Est also show
ing some slight losses. Tennessee Coal and
Iron was another stock that suffered from
depression In the early dealings. losing IA
per cent on fears Of the company's bust
ness being hurt by the low price OF Lake
Superior ores. But by midday the first
symptoms of rally manifested themselves
in the improved tone OF the coalers, under
the influence OF the news of Mr.. Little's
favorable report on the condition OF the
Lehigh Valley. in connection with the sale
of bonds of the company. which will re-
suit In bringing the control into closer har
mony with the other coalers. Other IN
fiuences gather to assist the rally. The
completion of the proft-taking in Chicago
Gas was followed by renewed buying of the
transactions. The session of the New York
Central directors set afioat rumors that a
refunding plan would soon be announced,
which started a buyinb movement in that
stock. and the other Vanderbilts. The an
nual report OF the Chicago. Burlington and
Quincy received a favorable Interpretation
and aided the upward course of prices,
which became very general through the
whole Est on very active dealings. There
was lull IN the activity before the close,
but no important reaction in prices. Chica-
go Gas gained 2la per cent over the low
level, and Sugar, General Electric Leather
preferred and Rubber preferred from TO
IL per cent. Burlington led the grangers.
with an advance of Is. per cent. New
York Central rose Ia per cent; Omaha 1ss
PER cent, and Cleveland, Cincinnati, Chica-
20 and St. Louis rs per cent. OF the
cCalers, New Jersey Central advanced 2is
per cent: Reading, per cent; Reading 1st
preferred. 21a per cent, and Susquehann1
and Western preferred Il. per cent Ten
nesSee Coal and Iron, Consolidated Gas.
Western Union and Brooklyn Union all rose
over a point. and fractional gains were gen
eral throughout the list. The closing was
strong and showed net gains for the most
part.
The total sales of stocks today were 1884,,
55i shares. including: Burlington. 4.20c;
Chicago Gas. $500; New York, 800: North
ern Pacific preferred, 400; Reading. 1850;
St Paul, 1900; Tennessee Coal and Iron.
$500; New Jersey Central, 1920.
The bond market displayed an improved
tone and slight gains were generally regis
tered in the principal issues. Business was
fairly moderate, and a more extensive va
If IN vrir
of the g;lt-edged liens moving up sharply.
The sales were Sl.C95 go.
Government bonds lacked feature, but
held firm on dealings OF $500.
FOREIGN STOCK MARKETS.
New York, April 1S.-The Evening Posts
London financial cablegram says:
THE stock markets were irregular to-
Gay. Consols. home rails. and foreigners
were steady to firm on the more cheerful
view OF the political situation. Americans
ard mines were weak, the latter being dis
tinctly nat. not 10 say panicky. No one
quite understands the continued deprecia-
ton in Kafirs, and all sorts OF rumors are
aficat, more or less untrue. The two main
points are Transvaal politics and the fact
tha; all the deep level mines needed cash
for developments a a moment when the
public were sick of the very name Of mines.
Gold is flowing freely to Japan and Austria.
chiefly TO the former country. China has
TO pay Japan q, 900 by the eight proxiTno
A good deal Of It VIII come from Germany.
The bimctaliic commission appoited by Nc
Kinley excites little interest here. The Paris
and Berlin markets were steady 10 firm
LOANS AND EXCHANKE.
New York, April i3.-Money on cali easy
al HIS. per cent; last loan IL per cent;
closed offered at IL per cent: prime ner-
camille paper sIadi per cent; sterling ex-
charge firm. with actual business in bank
ers bills al sls7I. 1iS7ie for demand, and
a sis6di.s6l4 for sixty days; Iosted rates
s4S6ILG4S7 and 81 SSis: commercial bills IN
active at 81 SG4s5I.: silver certificates ST.
62i.: bar silver SIS; government bonds firm
state bonds dull; railroad bonds firm
BANK CLEARINGS.
New York. April l3-Clearings 1881. SO:
balances s., sSs.s
Boston. Mass. April 13-Clearings ST.
SIS. sic: balances s, 81 30.
Philadelphia. Pa. April I3.-Ciesrngs ST.
1850; balances Sl.Sl5.S So
Baltimore. Nd. April l3.-Clea-inss 81
5Ie.123; balances s2s2ss-
-. Louis Mo. April 12--Clsar.ngs <. u.s.
IS. balances SsissaS; money Sf7 per cent:
New York exchange. - cents bid; 20 cents
asked
TREASURY STATEMENT.
Washington. April iS-To5sys Statement;
OF the condition % the treasury shows:
Available cash balance 81. -. 81; gold re-
serve Si5S. 81. 81.