The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-02
STOCKS AND BONDS
STOCKS PROCEED FROM REACTION.
AIRY TO STRONGER.

Prices Carried Above Wednesdays Closing
Level all Through the List-Ear,y De-
cline Due to tho Apprehens,ons OF Pro
fesstonaIs - Late Advaace Follows q
Season Ut Feverish UncsrtaInty-Lon-
don Reflects Increased Cosndsace and
Buys Freely - European Gold Order
Goes begging.
New York. July 1.-Today's market was
somewhat errat!c, the earlier hours of thet
cay inclinins 10 reaction, but a stronger
tone developed afternoon which carried the
prices all through the list above last night 5
closng level. There was no news regard
ing the general situation 20 account for the
early decline and il mus. be attributed TO
general apprehension among the profess
sional Traders that the advances n prices
/ rave obliterate1 conditions The late
strength did no, develop until after a period
OF feve!ish uncertainty, and a hesitat.ng
and somewhat timerous effort On the bears
70 take control Of the market. There was
decided falling off IN activity and in the
OUTSIDE interest In the market all day. Nor
was there any general heavy sailing 10
realize apparent. The decline gave every
appearance OF being purely man;pulative in
character, the bulls seeming to assent 20 il
as promising benefit 10 the tone of the
market It was not OF a character to In
WIG aggressive short sales and in fact the
sales that were made for short accounts
We're covered before the end of the session
and were largely responsible for the rally.
A festur OF the market all day was the ease
with which prices moved between I'D end
down On small transactions The late rise
was accomplished without any very heavy
buying. rejecting the disposition on the
part OF the heavy operators to nurse the
reaction for the purpose OF recuperating
the market and preventing its too rapid ad-
vance. London already reflected an in
creased confidence in the stability OF values
here and bought quite freely during the
day. General naws as to the outlook for
business continued favorable. The trans
fer Of $4,000 IN currency from the SUBJ
treasury TO New Orleans Is considered an
indication Of increasing business activity
in that section. An order from Europe
Tor 10000 In gold went begging in Wall
street, there being no adequate profit in
the transaction at the ruling rate Of ex-
for the fiscal year with deficit Of less than
slS,Oo,OO0. against an estimate year ago
OF over SEA, eco. 900. is looked upon as a IA
vorable factor. Louisville and Nashv.lles
good showing for May Of an Increase Of
sS202l in gross earnings and of 1925 in
net, helped that road to maintain its price
above yesterdays close, or near the level
all day. This was true of the interna-
tonals as a group, with one or two excep-
TONS Manhattan was also strong ALI day
on rumors that surface railways were
about to acquire an interest in the prop
erty. With these exceptions the whole list
declined below yesterdays close, the loss
reaching ia per cent in Sugar and over
point In Chicago Gas and Northwest. The
recovery was complete in all prominent
stocks but Bay State Gas, ard net gains at
tanned point or over IN Manhattan (2ssD,
Adams Express, Cotton Oil preferred, Brook
lyn Rapid Transit. ST. Paul, Illinois Steel,
Louisville and Nashville. Leather prefer
red, Rubber preferred, and Ice preferred
Bay State Gas slumped Pa per cent on ru-
mors of a rece!vership and rallied l1lS per
cent. Chicago and Eastern Illinois pre-
fered also lost ~ per cent.
The bond market displayed good tone |
on moderate transactions, which were large |
ly restricted to the LEADING mortgages. Fluo |
tuations were quite narrow, but with fairly |
uniform fractional gains. The market |
showed some irregularity at time. but end
ed with the principal lines showing advah- |
Is ses. The aggregate sales were 81. go. oO0. |
Governments were dull, but hardened |
fractionally. The transactions were So |
CO.
FOREIGN STOCK MARKETS.
London, Eng, July 1.-The market for |
securities varied but little allday |
The tone was quiet and the demand moder- |
ate. Bears tested the market early in |
sales but 6esisted, finding little long stock |
dislodged.
New York. July 1.-The Evening oPsts |
London financial cablegram says:
The stock markets were quiet and ir- |
regular today. Home rails were chiefly |
in favor. In the other markets the fea~
ture was the sharp rise in Grand Trunks |
on good buying and an excellent working I!
Canadian Pacifics were also |
largely bought. The settlement will be
finished tomorrow Americans were neg
lected. pending more definate :ndica tons OF
the New York market. Prices were mostly !
above the parity all day and despite the |
drop in New York and the pessimistic cable
Of the aPll Mall Gazette's American cor
respondent, limiting al war between the
United States and Japan and Spain, the !
disposition here Is TO hold to Americans IN
the belief that the decline Is past. KAT |
frs were better and with an upward ten
dency. Details OF the gold movement for
the week Show that fs2. 600 came from Aus
tralia and fI7.co0 from the Cape. while fl5.-
BOO went to the continent. The Berlin mar
ket was steady and the Paris bourse was
firm, De-:af Of SrlllueSS"
LOANS. EXCHANGE AND BONDS.
New York July money on call easy at
l4T2 per cent; last loan per cent; closed |
offered per cent. Prime mercantile pa
per 304 per cent Sterling exchange dull
and heavy. with actual bu,ness IN bankers
bills at sLS@4s7i. for demand. and at
81 SA Giss for sixty days. Posted rates,
A. S6isI4. s7i1 and s4.SSi5. Commercial bills,
si,S. Silver certificates 6r46sGs- ar ST.
yer sois. Mexican dollars Il. Government,
bonds strong; state bonds dull; railroad
bonds firm.
GOLD SHIPMENTS.
New York July 1.-Cne OF the leading ex-
porting houses here IS expected 70 ship
half million IN gold on Saturdays steam
Pr. No other shipments were announced
Up TO the close OF the market today.
DRY GOODS MARKETS
New York, July With the approach o.
he Independence Day holiday. the cry
goods market assumes duller tone than
has beene the case hitherto. The buying
=, ~. &c 80 a ca,fs,,I rhe-a-..- ana |