The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-04
STOCKS AND BONDS
STOCK MARKET STRIKES SOME
THING LIKE A BOON.


Which Utterly ParaIyxes Professional
keactionists-Crop Prospects Mean
Something to Ship Abroad and Some
thing to Brius Back In Keturn-Ble
Bond Trading
New York, aug. S.-The market for Sc
ell, ties received a further powerful i'm
petus towards a higher level Of values
today. Buying was animated and in
large volume in all departments, not on
" Of the sock market, but OF the bond
market as well. The confidence OF the
general public in the revival Of business,
and the Improvement of values to re-
suit was plainly manifest in the large
commission house orders executed ON the
floor Of the exchange, these being in sdcn
numbers and OF such Importance as ID
overynelm all attempts Of the profess
sional operators to check the advance
and 90 manipulate the market for re-
action. All the news was such as 10
push on the enhancement OF prices. Re
ports Of crop prospects continued most
encouraging from ali quarters, and the
kets reflected the confidence OF buyers
that good prices were to be realized for
the crops. The rush OF railroad traffic
from the west and southwest showed
the grain movement to De in such VOL
ume as to leave the amount OF business
to be done by the railroads only ques-
ton Of the number Of cars they can Sc
cure 10 transport the grain offered. The
westward movement Of merchandise is
a.so reported to be large for the season.
so that the trains carried westward as
well as those coming eastward are pro-
ducing revenue for the railroads. The
buoyancy OF the industrial stocks was
the result Of the bright outlook Of The
trade in the particular staples in which
these great corporations deal. The gas
companies especially were benefited
Consolidated Gas lead with a net gain
OF 5la per cent. The exchange situation
was also much cleared. he quotations
for actual business in sterling exchange
breaking to $4.S7 for sight bills and 10
s4.S54 for sixty days. The declining
tendency is due to the free offering of
grain bills, which are likely to increase
from this time on. In view Of this fact,
further exports of gold are exceedingly
unlikely to occur and the annual reflux
OF the yellow metal will probably begin
al once. The heavy adverse trade bal
ance 70 result from foreign purchases
of grain is considered 70 be the motive
os the persistent Discrimination Of for
eign exchanges TO invest in American
securities, and of the disposition 10 take
their profits by selling these securities
ii the New York market. The conserv
alive habic Of the British investor 10 re-
frain from putting his money into for
eign enterprises when such acton Is
likely TO depiete the supply of gold in
currency channels is we'll known. Lon
fefred We're well absorbed today, and az
ter the close in London. the stock rallied
10 q point above last nights close.
The following list of advances indi-
Gates the proportions of the improve
ment: Consolidated Gas 5Ik per cent;
East River Gas. 3; Sugar preferred. 81:
Sugar, Brooklyn, Union Gas, Chicago
Gas, General Electric, Laciede Gas. Ore
gon Navigation, ST. Paul and Duluth.
both common and preferred, and Spirits
preferred. points or over.
The stocks which gained point or
over were: Cotton oil preferred, To-
bacco, Canada Southern. Canadian Pa
cific, Cleveland, Cincinnati. Chicago
and ST. Louis. the Changers, Lake Shore,
Louisville, Chicago, Indianapolis and
Louisville, Metropolitan Traction. Mich
igan Central, Norfolk and Western pre-
ferred. Oregon Navigation preferred, Or
egon Short Line.
The total sales OF stocks today were
415.225 shares. including: Atchison, g.
o35; preferred, $3.50; Chesapeake and
Ohio. 10.44O: Burlington. 24,S5O; cleve-
land. Cincinnati Chicago and ST. Louis.
6,022; Louisville and Nashville, 1855;
Manhattan. $500: Missouri Pacif, -
2s5; New Albany and Chicago. 1915: pre-
ferred, 1920: New York, Susquehanna
preferred, 1855; New York Central 1000; !
Northern Pacific, 3,715; preferred, 20
80; Northwestern, 1855; Reading, l..
592; s.. Paul and Omaha. 3,s05; Southern
Railway preferred, 9.175; Union Pacific,
100; Rock Island, 1920; ST. Paul, a.
5,155; Union Pacific. Denver and Gulf, !
i.5l0; Wabash preferred. 1881: American
Spiris, Il COS; preferred. 3.0ls; American I
Tobacco, SO, $50; Chicago Gas, 20, 40, Con !
solidated Gas, 1855; General Electric |
G,Oi5; Lead. $3.50; Sugar. 2G.912: Tennessee !
Ccal and Iron. 71o5; United States Leath- !
er preferred, $50; Western Union, H. |
$50
Trading in railroad mortgages was in /
large volume with substantial variations /
in many issues The low-priced securi- |
ties we're eagerly sought for by domestic /
and foreign purchasers TIE general tone /
was strong. with specific influences op- !
Grating 20 enhance values OF sole liens. |
Notably Oregon Improvement; cons IS
trus; receipts. which were conspicuous Z
fo- rise Of 81. per cent 70 50 per cent. /
with .a;er reaction 20 % per cent. The {
aggregate sales were 50. 500. OCo
FOREIGN STOCK MARKETS. (
New York Aug 3.-Tne Evening Pos.'s
London financia. cablegram says:
The markets here today were buoy I
ant. Kaffirs and Americans were the /
features. Interest in ;he former IS rap /
iiy reviving, both here and on the con-
tinen;. and there were large dealings
today and the closing was a. tae best fig
u-es. Americans were also Dough: here
and by aro.trase brokers' and BY Ger
many Berlin buys Canada Pacific and
Northern Pacific. There was English /
buying q Deavers- Prices closed q shade
under the best The Paris bourse Vas
firm. 5L; quiet because % the se;tle-
mani"
London. Aug e-Consols Coz money
and the account. Us
LOANS AND EXCHANGE
Na-r VIZ Aur Infancy on AL easy