The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-11

New York, May 1o.-The market for
stocks today showed signs of decided
strenth throughout, though the dealings
continued dull and prices advanced very
cautiously In spite OF improved prices for
Americans IN London. THIS was supple
mented by some small buying for London
account in this market later IN the day.
The excellent crop reports from the north
west. and improved earnings, both these
reported and those rumored for the I'M
mediate future, gave an impetus to the
buying Of railroad properties in that region.
The grangers and Northern Pacific receiv-
ed the most noticeable benefits from this,
st. Paul and Burlington especially being
largely dealt in Omaha Jagged in the i'm
provement and showed some continuance
OF heaviness growing out OF disappo!nt-
ment that no further dividend VIII be de-
clared this year. In spite of the strength
OF prices. the market continued narrow and
professional and showed no Signs what
ever of outside interests.
The exchange situation and the resulting
Of accompanying gold movement continue
to mystify dealers in stocks and are an
element in curtail.ng speculation. Further
shipments Of gold are confidently predicted
this week, with demand sterling exchange
ranging from si.s714Q4. S71s AS an evidence
that the gold shipments are certainly the
result of obliterat ton of the tremendous
trade balance in our favor heretofore es-
tabl.shed during the fiscal year, the large
figure of last weeks imports at New York,
exceeding slS,0000O0, are pointed to as con-
elusive by those who deprecate the idea
that any special demand for gold abroad is
responsible for the outgo. But exports OF
gold at present rates of exchange leave IN
explained the fact that on Saturday pre-
vious to the first gold shipment demands
to sterling ruled about s4sS to $4.SSH, after
having been at S488i2 and upward, so on
the previous Monday and s4.s764s7si the
Monday preceding that. without inducing
shipments Of gold. In fact, the exchange
houses had determined that there was no
adequate profit for the million-doIlar gold
shipment under a rate of si.Ss&l for demand
sterling. The fact remains that further
shipments are looked for and that the
fact has sentimental restraint on buying
of stocks.
The bears tn Western Union today added
to their stock of ammunition the supreme
court decision affirming the validity of the
Berliner Telephone patent, which, It is
alleged. foreshedows opposition from the
Bell Telephone company IN the telegraph
field. This stock led the list in number of
shares sold. fuctuat.ng irregularly and
closed unchanged. Chicago Gas showed
early weakness, but rallied and showed a
slight net gain. Sugar also was weak at
times. but recovered the decline. Consoli-
10 oA fall
but recovered. Baltimore and Ohio lost q
per cent on small dealings. The coalers
showed sharp fractional gains, notably in
Reading, but partly lost the advance, Lack
awanna receding to below Saturdays close.
Tennessee Coal was heavy throughout, los
ng e per cent net. Burlington showed
the extreme gain of a point in the grang-
ers Covering by shorts forced Tobacco
up per cent and the scrip Y per cent and
this same cause yielded Leather preferred
4 net point of gain. Union Pacific touched
rs per cent on good buying and the Lead
shares advanced IL per cent each for the
common and preferred. The market closed
quiet bu: firm.
The total sales of stocks today were 49,
81 shares. incluging American Tobacco, s.
100: American Sugar, 1920: Burlington and
quincy, 10, 400; Chicago Gas, 500; Northern
Pacific preferred, 500; Omaha, $500; Read
ng, 10000; st. Paul. 14.1oo; Tennessee Coal
nd Iron. 1900: Union aPcific, $500; West
,rn Union, 11,600
Trading in bonds was attended with con-
siderable animation. but prices of the lead
nS issues ranged narrowly. Some changes
we're noted in the active low-grade mort
cages. The aggregate sales were s1sl2, COO
Government were active with the demand
or the new As coupon advancing the price
o 123 per cent on transactions at 10 per
,ent bid last call. The total sales were
Il, 900.
FOREIGN STOCK MARKETS.
New York, May 1o.-The Evening Posts
london financial cablegTam SAYS:
The feature in the stock market here |
oday was the short bear scramble in KAT |
irs, which have been rushed up 20 and . |
,er cent. The settlement disclosed a large
year position. This partly accounts for the !
Use. but the reports circulated as TO the !
German policy in African al the moment !
,e:ng actively favorable to this country, |
lave, there is excellent reason 20 believe. |
very foundation in fact. Now that the bear |
position in Kaffirs has been largely reduc- !
d however. IL looks as though the price |
vas too fast TO last; still. I must report a |
considerable public interest and il now re-
mains TO be seen whether the public are |
,oing to buy again or whether they have |
arge holdings to unload. The other mar
tets were all buoyant on the publication. /
,onsols were only 8 per cent below the |
lighest point ever reached. Foreigners |
we're generally good. but the fatness in |.
spanish securities was a prominent excep- |
ion. Austria is the only buyer of gold for !
he moment. The Paris bourse was strons |
II the buying of kaffirs. and the Berlin |
market was firm"
LOANS. EXCHANGE AND BONDS.
New York. May l0.-Money on call nom |
aally i14GIk per cent; prime mercantile |
'aper SlzG4 per cent: sterling exchange |
teady with actual business in bankers bills |
( A.S7I. G4S7a for demand and AssLE |
ssh for sixty days: posted rates &Sd
.Nis and 81 &T4.Sa commercial bills ASE.
silver certificates 60izls1- Bar silver e1L..
Iexican dollars Az. Government bonds |
IN new fours registered. 1925: coupon. |
IA; fiives registered. rs; coupon. rs: 80 /
egis,ered, Ile2.. coupon III; twos register |
q. So
BANK CLEARINGS
Philadelphia. Pa. May io.-Clearings S.
@. IS: balances s.. HISS.
Baltimore. Nd. May Io.-Clear:nEs S.05. |
"A; balances Se5e So
St Louis. Mo. May io-CIezrirgs S.Iss.- |
y; balances ISIS !s; money id7 per cent: |
Few York exchange sec bid; 75c asked.
TREASURY STATEMENT.
Washington D. C. May lo-Today's state |
men; OF the condition of the treasury shows !
cash balance So fe5.5Ts; gold re- |
erve $li7. fos.7g7.
COFFEE AND SCGAB MARKETS
New York. May 1e--Cofree-Optsczs open
q dull. 5Gi0 points advance. smaller re-
sip;s q, Brazilian ports and favorable |