The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-26
STOCKS AND BONDS
TRANS.MIsSOURI DECISION DOM
MATES THE MARKET YET,

| Dealings Much Less In Volume Than on the
First Days Scare, Holders Having Taken
Second Thought and Decided to Place
More Confidence In the Ability OF Cor
Porations Affected to Find Way Out
Bears Not Alone in the Market, Conse-
| quentiy-Bond Markets Firm, Especi.
ally Governments.
/ New York, March e5-Dealings on the
| stock exchange today were in much less
volume than yesterday, and the great bulk
| OF the sales were made in a few stocks
Out OF q total of $4,000 shares. the grangsrs
absorbed about 77,olo. Sugar $500 and the
| anthracite coalers nearly 5000 more. The
srangers were obliged TO suffer the Iarg-
est part OF the selling movement which has
resulted from the decision of the supreme
court in the Trans Missouri case because
the associations Of which they are men,
/ bers have been practically disrupted by the
| expressed intention OF the Burlington and
others TO withdraw. The decision itself
1 continues TO be the topic Of most absorb
! ing interest in Wall street, but the holders
| of securities other than the Changers and
Southwesterns seemed disposed TO await
| a competent legal opinion on the official
| text Of the decision as TO its effect on other
| traffic associations before throwing over
| more sctocks. The belief was entertained
also that even though the existing rat and
! traffic associations should all prove 10 be
| Illegal under the decision, means might DE
| found to maintain rates and still remain
within law. If failure to maintain rates
was TO work such disastrous consequences
| to railroad values as was argued in the
arguments which induced holders of stocks
10 part with them, why should It be neces-
sary TO bind them by a contract which
could not be legally enforced, as the only
means of preventing them from destroying
themselves? This question suggested TO
stockholders that these roads might pos
sibily refrain from cutting each others
threats even if they were not under legal
contract TO do so. II was such arguments
IS these that induced some cessation of the
selling movement after the first onslaught
OF the bears and led to an upward move
ment IN the railway list and which result
ed, in some cases in the best prices of the
DAY. The indUstrials played conspicuous
part in this upward movement. each being
somewhat affected by a peculiar cause
Oh utdNS Lineage ddS,
also on large dealings; Leather preferred
and Rubber preferred, showed gains of
to . per cent. The opening raid on the
srangers had resulted in losses of Is. per
cent in Burlington, ~ per cent in North
west. IL. per cent in Rock Island, per cent
in Omaha ard "a per cent in st. Paul. The
general list yielded fractionally, the loss
reaching point in the case of Lake Shore,
New Jersey Central continued TO be focus
of great speculative activity, varying over
a point either way several times during
the day and with a final rally which left its
net decline only q per cent. The bears
attack on thos stock resulted also in de-
cline in Reading of per cent and Reading
first preferred per cent, with a subse
quent recovery. The final hour of trading
witnessed a renewal of liquidation in many
stocks and carried prices down 10 near the
lowest point of the day in most cases. Su
gar lost rs per cent; Leather preferred II:
per cent. and Northern Pacific preferred
lss per cent. The closing was weak with
severe net losses in numerous shares.
The total sales of stocks today were 49,
3g7 shares, including: American Sugar So.
200; Burlington and Quincy. $500; Chicago
Gas trust receipts. 1880; Louisville and
Nashville, 1890; New York Central, $500;
Northwest, $3.50: Omaha, $500; Northern
Pacific preferred S. 400; Reading, II. 700; Rock
Island. 600: st. Paul. $500; New Jersey
Central, Il. 800: silver certificates 10000.
The bond market displayed a general
firmness, with important advances in the
giitedged issues. which were in better re-
quest than for some time. The St Paul
liens figured prominently in the operations
and recorded substantial gains. Brooklyn
IL "a rr,ixr
despite the appointment Of a receiver for
the road. which was understood to be a
friendly action, in line with the proposed
reorganization of the road. The sales were
s1,oS0,Oo0.
Governments developed marked firmness.
which had been decidedly lacking in this
department for some time New fours,
coupons were in special request, block OF
100000 changing hands at 1891.
CALUMET AND HECLA-
Boston. Mass, March 25.-The directors
Of the Calumet and Hecla Mining company
at their meeting today declared another
dividend of 3 per share. payable April 3 TO
stockholders of record March z,
LOANS AND EXCHANGE.
New York, March 25.-Noney On call easy
at i1ldl24 per cent; prime mercantile paper |
3iz14; sterling exchange steady with &C
tual business in bankers bills at S4s1l.G5 |
4s72. for demand and at si.SJi. d4s5 for 80 |
days: posted rates si.s6la and Si.Ssls; COM |
mercial bills As47.; silver certificates s3d |
63i4 bar silver 6334; Mexican dollars s4s7l.; |
government bonds firm; new As registered |
and coupon 123t4; SIS registered and coupon |
1894; As registered 11024; coupon 113: twoS !
registered 80; Pacific 6s of sS. lo37s.
BANK CLEARINGS.
Philadelphia. aP.. March Chickering's s..
5i5 So: balances Sl,2i7,06S
Baltimore, Nd, March 2.-Ciearings e.
cor. s55; balances 81. Sc.
St. Louis. No, March 25.-Clearings So
az. -; balances S5i2.1I5. Money 517 per |
per cent; New York exchange . cents dis
count bid: . cents asked.
TREASURY STATEMENT.
Washington. D. c, March 25.-Today's
OF the condition OF the treasury
shows: Available cash balance SIS. So, szs;
gold reserve sl5l 745.ss0