The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-25
STOCKS AND BONDS
BUSINESS IN BONDS ALONE SHOWS
A DECIDED BETTERMEHT.

tinue Almost Uninterruptedly to Inn
prove Heavv Demands for Investment
Mortgages Being Made by Banks and
Individual Capitalists Coming Into the
Also Feel the Better Tone.
New York, Feb. a4-The outlook was
very encouraging this morning for day
Of activity and rising prices when the
dealers in stocks made their appearance
on change. The market took an upward
trend from the start, the industrials prov
ing 10 De The leaders. The tone reflected
from the London market was no. calcu-
lated to discourage trading and prices
of some OF the International stocks went
above the London equivalent The
railway list shared the upward move
ment, though the range was confined TO
fractions. The favorable statement OF
81. Paul earnings for the third week in
February. showing an increase OF 37.102.
gave an impetus TO the increase in value
OF railway stocks, and especially OF the
! grangers. 1t was evident that the To-
bacco sharos had friends on guard while
| the company was under investigation by
! the legislative committee and thep ro-
gress Of the inquiry was not attended by
decline in the shares, but rather by an
| increase. Leather was a special feature
| in the marker, owing 10 the expectation
I OF The giving out of the annual report. The
| preferred stocw rose al the opening Ia
! per cent, but the price receded on the
| runors OF the character of the annual
report, and the recession was not inlme-
diately checked on publication OF the
/ balance sheet which showed changes in
the form OF astatement that proved some
VIVA, puzzlipg TO some observers. The
| early advance was followed by reaction
] OF Us per cent, but the stock rallied
! again rs per cent near the close against
! the current of the general market. which
was downward, and closed with a net
! gain Of IL per cent on the day. Other
! properties which figured in the early ad-
vance were Sugar rs per cent; Consoli-
| dated Gas per cent; Manhattan / per
cent; Tobacco and Tobacco preferred
each l per cent; Cotton oil preferred.
Minesita iron opened IL. per cent higher
| and continued to advance without inter-
ruption on the belief that the meeting of
iron ore producers would result in ben
! fit TO the company. The net gain for the
day was Az per cent.
CUBA COMES IN.
| In the general market, however. there
was lapse into apathy by II o'clock, the
buying movement having aparentil ex-
pended itself. Subsequently a reaction
set in which extended through the gen.
eral list. There were various contribu-
tors factors to this movement. The re-
| port Of the senate foreign resolutions com
mittee in favor of demanding the uncon-
ditional release of Julio Sanguaily. held
in Cuban prison by the Spanish author.
! tiles. awakened some apprehensions that
| values would be effected by a resulting
strain in our relations with Spain. There
was some selling by arbitrage brokers
attracked by the higher level of prices
in this market, which encouraged a re-
! action. The anthracite coal group held
its own against the announcement that
| the legislative committee would under
take an extensive investigation of the az
ed later TO the general decline and to the
special influence of a decline of IL per
cent in New Jersey Central and renew
ed fall in the price of Lehigh Valley in
| Philadelphia announced suspensions Of
member Of the exchange. W. S. Alley.
J also had dampening effect, though Il
Vas subsequently explained that the sus-
pension grew out of an old partnership
settlement and had nothing to do with
! recent operations on the exchange. The
| decline was general, some OF the active
| specialties besides those already noted
/ being the only exceptions. Hooking VAL
/ ley again receded on renewed rumors Of
a receivership. falling IL per cent to s
per cent. the skies losing four per cent.
| to so per cent Manhattan fiuctuated ir-
| regularly on doubts of action of the d.
i Tectors on the next dividend and the
| possible effect on earnings OF the propos-
| ed change in motive power. The clos
| ing was weak, fractional losses being
| general throughout the list.
The total sales OF stocks today were
| 121,7 2i shares, including: American To-
bacco 1880; American Sugar $500:
| Burlington 1920; Chicago Gas 1880;
| General Electric 400; Manhattan $500:
Reading 800; ST. Paul 9.1oo; silver GER
| tificates 1000.
BONDS VERY ACTIVE.
The improvement in bond values con-
tinus almost uninterrupted. owing to the
heavy demand for investment mort
cages by the banks and other leading
| financial institutions. Individual CAPT
talis;s are also represented. and al
though considerable amounts OF middle
grade bonds have been attracted from
abroad, owing TO the hight prices current
here, their influence IS not apparent in
the general speculation. The demand
embraces wide variety OF issues and
transactions are being registered in liens
which have been dormant for several
years past. The ST. Paul bonds were
conspicuous in today's dealings and re-
| corded gains OF / to per cent. Kansas
Pacific consuls 1uctuatei considerably.
owing to the Importance attached 70 the
| bondhoIders meeting 10 consider the re-
vissd allotment under the Union Pacific
organization plan. An acceptance OF the
changes was announced, and the bonds
Jeff off with gain o: TX per cent. Soma
weak spots were noted, but the general
! undertoue was good with material gains
in numerous instances. The sales were
| q ,4s4 600.
The government bond market reflects
/ tas investment inquiry for I'll: edged Sc
curiiies- Transactions N this depart
msat are on an increasing scale. and az
tended by higher values generally. The
80 1rf-z< -zzffza5 F0- yrs--7s fzzuez are
creating a more general demand for out
side miscellaneous issues with consider
able business over the counters The
aggregate sales we're $1,000
LONDON GETS ITS BREATH