The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-12

| ola Tempting Nature in stocxs-state
and Municipal Bonds Are Mentioned ~
Notable Absorbers OF This Same Idle
Weaith-Efect of Trust Investigation.
and Other of the Weeks Dsvelopments
Foreign Stock Markets.
| New York, Feb. u.-with an abundance
of money still to be had at cheap rates and
eagerly seeking an outlet for expenditures.
| the trading on the stock exchange continu-
| ed TO be confined to almost Insignificant
proportions ard was further restricted to-
| day. owing to the fact that tomorrow will
| be holiday. Aside from the dealings OF
| the professional element the crowd seems
| to be waiting for Improvement in the gen.
eral trade situation. A number OF depress-
| ing influences combining have been suf-
| ficient TO put a stop almost entirely 10
| speculation. Much more than half the de-
| clines were again confined 10 the industrial
| shares. The market was heavy and droop
| ing almost throughout. under the combined
| influence OF the reflected uneasiness in Lon
don and on the continent over the rupture
between Turkey and Greece. or Crete. The
sympathy with the decline in the wheat
market, the lack of a well defined opinion
of the effect on general business of the
| rupture of the combination among steel
| rail manufacturers, and the prospect OF a
damaging war of sales among steel makers
rather encouraged the bears, but there was
| the accompanying belief that the railways.
which have been curtailing their expenses
for repairs. would profit by the cheapness
Of -le
mand for rails developed by the cheaper
prices gave hopes that the stagnation in
that industry has come 10 an end, thus
contributing to the general awakening OF
business to which all are looking forward to
with expectancy. The indus,rials showed
a tendency to advance partly on covering
by shorts. Sugar at one time rallied 10 liz
\ per cent, but later yielded again to the
persistent hammering of the bears and sold
off. Rubber declined IL per cent. and the
preferred 2i4 per cent, the other industr;als
reacting in sympathy. raid on the gen.
eial list in the closing hour reduced the
prices of the day. The group showed net
declines on the day. The general list also
showed a fractional decline. though htere
were elements of resistance among the rail
ways. These rose. but fell on London sell
in. Northern Pacific preferred led with
drop OF rs per cent on liquidation induced
by the unfavorable gross tariff statement
for January, but later recovered a per cent
The shares of the Illinois Steel company
fell IL per cent on the steel rail complica-
ton. Tennessee Coal and Iron also lost /
per cent. The other iron and steel COM
panies' shares were but little dealt in. The
anthracite coal shares were pressed for
sale on rumors that large investment In
terests were disposng of their holdings on
account of the unsatisfactory reports of the
trade. One of the most favorable factors
in the present outlook is the ready absorb
ton of state and municipal bonds which
have been recently hoated by syndicates
1t is an evidence of the plentitude OF cap:-
tai awaiting secure investment. The gen
eral closing was generally weak and about
the lowest of the day.
The total sales of stocks today were 49,
227 shares, including: American Tobacco,
800; American Sugar, 1900: Burlington A.
Go; Northern Paicfic preferred 1900: Read
ing 44O0: St Paul. 100; Silver certificates,
10000.
The bond market displayed heaviness on
decreased transactions which were largely
confined to low-priced mortgages. Realiza-
tons accelerated the depression in the spec
ulative liens. with the Atchisons prominent
The changes generally were unimportan.
outside OF few high-priced bonds. The
Union Pacific issues are being more active
ly dealt in in consequence OF the activity
OF the various reorganization interests
with Union Pacific sinking funds SIS and
Union aPcihc trust receipts rising and
per cent respectively. The sales were ST.
7i5 900.
Governments were more active and sag
sed generally on realizations The inquiry
for these securities emanates principally
from banks and individual capitalists who
are unable 10 seek employment for their
surplus funds in the stagnant stock specu-
istion. The sales were $4,000
Silver certificates were dealt in, after a
long period of neglect, at ei7. per cent, for
Il, 600 ounces.
FOREIGN STOCK MARKETS.
New York. Feb. 1.-THE Evening Posts
London financial cabelgram says:
"A sharp panic on the Paris bourse and
the Cretan news. made the stock markets
here fiat throughout the day. Except how
ever. for the liquida ton in home rails. the
selling was chiefly from Paris Prices clos
ed at the worst. Americans were sympa- |
dull Consols were 1ll2zs. IL is I
difficult to gauge the precise position Of the I
on the exchange is apparently trifing, the
caeapness of money has probably caused !
heavy speculative engagements for a rise |
10 have been financed from outside quar-
ters. The panicky condition OF the Paris !
bourse was due TO heavy selling OF Turk |
sh securities But the close was above the |
worst. All the other continental markets I
we're fat.
ADSTpErTsS r-TS.S~r,r pr,-rru-
New York. Feb. l1.-Bradstreet's review /
u the New York stock market Saturday |
Will say; No difficulty could be found IN 4
the course Of this weeks market /
L was entirely professional and took the
orm Of bear movement in the indus;rials. |
rhe coal stocks were also unsteady, under
he same kind OF pressure. but the general |
abroad share list was firm and az inter-
'sls showed more or less strength while the
bond markets have been very well held.
With symptoms OF public and foreign buy 1
ng in a number OF the speculative issues.
The principal Incidents Of the week were
with the investigations Of indus
rial trusts and monopoEes by the commit
&c Of the New York legislature a stop 20
'e put 10 buying support, and Liquidation
Il speculative holdings. The frmness OF
ne railroad share list and the strength OF
'cDds in the face OF the break in the IN
iustrisls was a subject Of general remark
There was considerable buying OF certain
lasses OF bonds. particularly the Northern !
Pacific and Atchison issues. Tne market |
: bare % really high-grsde investments.
nd this. with the high prices they COM
nand. has turned the inquiry toward the /
more speculative classes. Europe cid moth
ng in or stocks Speculation fl London
as been dull ard depressed OF the fears
{ future complications in the east The
weakness in coal stocks Is the result OF
ontiaueS d1lness II that trade
LOANS AND EXCHANGE.