The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-04
STOCKS AND BONDS
DEALINGS ON THE STOCK Ex-
CHANGE ARE LIMITED.

citne-Eneet of tn IDouble Holiday Ess..
mated Besides Which is the Conviction
of Dealers Th.. the Limit Of safety has
Been Reached in the Advance-Bank
Statement Leaves Prosperity Return
No Longer an Open Question.
New York. July 3-Dealings were small
on the stock exchange today in the ag-
gregate and about one-tnird OF the small
total was absorbed by Tobacco. in which
there was heavy selling and notable
decline in prices. A half-day's session
OF the stock exchange preceding al inte--
va. OF two days suspension OF trading
would naturally account for the du!lness
in part. Many dealers and brokers left
town yesterday and took no part in the
| trading today al all. But IL was expects-
ed that there might be large volume OF
transactions during today's short session.
when the exchange authorities declined a
request by members last week 20 adjourn
over from Friday. July 2, TO Tuesday,
! July 6. The animation of the market at
| the time this request was denied war
ranted the assumption that a suspension
| for TIE extra halliday might cut OF
| arge volume of business. The decline in
activity today cannot al be attributed
10 the fact that two days suspension OF
trading is 10 follow. The dullness re-
| fleets the continued conviction OF deal
ers in securities that the present level OF
the market is as high as conditions viii
| require. The prevalence OF this senti-
| ment might be expected 10 hold the mar
ket without causing actual decline. But
the heavy liquidation in Tobacco. sharp
| decline in Tennessee Coal eli Iron and
| tee influence Of the lower prices for
American securities In London affected
the tone OF the market and were added
to ss far as possible by the efforts OF the
bear contingent. Manipulation for the
decline. and snort selling. were quite
palpabie and proved effective in the mar
row and rather neglected market. New
! ertheiess there was not lacking evidence
! OF reflex OF the general outlook for
business improvement. which must be
given due weight in an estimate of the
| days results. These results show no
|
heavy tone of the market outside of the
two specialties mentioned and Reading
first preferred. the latter stock closing a
point lower. Toba eco Gagged az one time
| three and half points below yesterdays
c.ose and closed at TAX per cent. which
is rally OF three-fourths per cent. Ten
nessee Coal aand Iron fell 27s per cent
ard recovered only the fraction of that
! figure. the weakness being due 70 reports
Of labor troubles with the company's en-
ployes. Brooklyn Rapid Transit was a
marked exception 20 the general weak
ness and gained "a per cent, closing
strong at the top. Rio Grande Western
preferred also showed a further advance
Of 2 points. Otherwise. fractional net
losses were general, and in the grangers
and international shares quite marked.
The total sales Of stocks today were
115.234 shares, including: American To-
bacco, 03. 500: American Sugar $500; Bur-
,ington $500; 81. Paul 1850; Tennessee
Coal and Iron 400.
THE WEEK REVIEWED.
The reflex os confidence IN the general
outlook for business. indicated as being
as a factor today, has been manifest dur
ing the week and perhaps in a progress
i've degree as the week advanced. The
recognized organs in opinion in the iron
AMI steel Industry have expressed de-
gree IF issatiefaction with the progress
making toward improvement in tha:
tusines-a business which Wall street
hah.tuaiy looks 20 as a fairly reliable
| - o. w
strike OF coal miners in the bituminou;
coal districts OF Pennsylvania. Ohio
West Virginia. Indiana and Illinois ha:
grown in impressiveness 20 the minds o!
. security holders The soft coal industry
! itself ana the railroads which transport
- products have been rec zed as Z
drag on the general imDrov ~ment. ant
the prospect OF further Dissemination
and Generalization in the industry is re
garded as a serious drawback 70 indus
, trials in the revival. These facts came 4
reinforce the argument so constantly
ha-ped upon by the bears during tbs
. period OF present advances in stocks
: that prices OF securities were ou;strippin,
/ the improvements in business and dis
counting an improvement tina. was. a.
: yet, only promising. AS a result. tn
week witnessed the elimination for III
. time being, at leasc, OF the advance ii
prices OF securities 81 the frs clearly de
: fined reaction since the movement set in
/ over a month ago. There has succeeded
a condition Of dizziness which has grow
; more marked as the week advanced. Tn
: | rnarke. has. however. retained a larg
degree OF eseadiness and even OF frmnes
in many leading stocks. The weeks pro
cess might be fly called one OF assimIla
= ton and digestion. Monday and Tues
$ day saw the heaviest transactions on m
: stock exchange Of any dag since that tol
lowing the election last fall On Monda,
: al. offerings seemed % De well absorbe
- and the selling seemed nothing mora thai
g .ae professional p-of,-:aking which IA
. beer a feature i, intervals y the stead
i advance IN stocks. Blu. Tuesdays trans
actions made i. eviden. that ;ha buyin
: which has led TIE advance had. %
args extent. liquidatei IS holdings an
. was not prepared q: cncs % buy for al
: o,hec upward step n The market :
Pau has been IRE leader ot TIE make
= al week IN poia; o: activity. sn1 eao,
: nous speculative ho,iinzs - Bu-lingto
= have beer STA CT, and transferred &C :
h Paul The weekly statements % gTo=
:. earnings % 81 PAU have shown al ~
. cess for each week in June owe. TIE CO:
responding period in any year since Iss,
n For the fourth week in June the earning
u reported yesterday ar n excess OF -
corresponding week fo- any year - =
Geo r Barse Prss- J Il Waite. Sec-Trsz-