The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-29
STOCKS AND BONDS
GRAIN CROP PROSPECT DOMINATES
TIE STOCK MARKET.

| Lower London Quotstions are Offset -
! Americans In London Close at the Best,
tive Than at Any Time In the Present
Upward Movement - Industrials and
Changers Arouse Considerable Interest,
Rising Fractionaily-Bond Market Ad-
vances Sharply on Heavy Dealings.
New York, July 2s.-The dominating in
| fuence of the stock markets strength to-
day was the prosperous grain trade out
look Probably over half million bush
els Of wheat were engaged for export to
the continent, although only some third OF
a million was reported from our ports. The
favorable weekly government grain report
vas doubtless a factor in the recovery of
confidence, to the disconcerting of the re-
actionists on the stock market. But little
effect was felt in the early dealings from
lower London quotations as the cont:nu-
ance OF recent heavy buying by New York
on the London exchange reversed the mar
ket. Americans there closed at the best
prices of the day. Atchison, in particular.
attracting attention. AS London IN the
early dealings did not respond very quick
ly to the local strength, arbitrage brokers
found frequent opportunity to buy in Lon
don and sell at a profit here. Meanwhile.
however Louisville, Atch:son, Southern and
Reading were purchased here for foreign
account. There was much variety and
breadth to the dealings here, with heavy
commission house orders from practically
the opening to the close. More stocks
were active today than a. any time in the
present upward movement. Cotton Oil,
Lake Erie and Western, Oregon Nav.ga-
ton shares and other usually dormant as
well as the more active stocks. as, for
instance, Sugar and Atch;son preferred.
were features in the days dealings. The
industr:als and grangers on large dealings
aroused considera BILE interest, being up
fractionally. Southern Railway properties,
including Louisville and Southern prefer
red, were up over a point each on pros
pective increased earnings when cotton be-
gins to move freely. Rumors that the re-
suits of the Wabash financial Circular
would be better than recently, caused the
preferred TO rise over point Sugar, after
fiuctuating erratically, touched 1891 per
cent. Two per cent of the gain Il lost on
bear attacks in the final dealings, leaving
the net gain less than a point. The raid
had but little influence on the rest of the
list, the buying continuing good up TO the
close. although some spectators realized
profits on purcha ses made earlier in the
day. Rock Island gained nearly point on
information that the earnings for the third
week in July would show a large increase
over last year, showing the large volume
of business now being handled by the road.
This report was sad 20 have been received
by some of the directors. Two rumors
circulated today considerably benefited the
properties concerned. They were that &C
ton might be taken on the dividend for
Louisville before the January meeting and
that per cent would be paid on the Atchi-
son adjustments in October. In less than
the usual dealings, Tobacco rose fraction
ally. There were no important losses. and
the principal net advances were: Rubber
preferred, 25s per cent; Cotton Oh, "a;
Lake Erie and Western preferred 2N; Ore
gon Navigation, 2ss; preferred, 3l1; South
ern preferred, Atchison preferred, Cotton
Oil preferred. Standard Rope Lake Erie
and Western. Louisville, Rensselaer, and
Saratoga, Southern preferred. ST. Paul and
Duluth, American Spirits common and pre-
ferred, Wabash preferred, St. Louis and
Southern preferred. AsEly
A keen inquiry developed for Atch:son
adjustment tours in the bond market, which
moved up per cent, to SAB per cent This
issue has been neglected Of late, and the
revival of activity was attributed in part
TO foreign purchases. based on the out
look for increased earnings by the South
western roads The general bond market
moved up sharply on heavy dealings, which
incl la1 -a.,- sc ~
gregate sales were $4,000.
Governments were quit, but continued
TO tend upward. The sales were $4,000.
FOREIGN STOCK MARKETS
New York, July 2S-The Evening Posts
London financial cablegram says:
''Todays markets were active and buoy
ant at the best. Business is spreading
Home rails were strong. There were large
dealings N Kaffirs at rising prices. Con-
sois moved up for the first time for days
Americans opened dull on proht-tak!ng and
on the apparent signs of weakness in New
York. The renewal Of American support
made prices boom TO the best of the day.
Except in the case Of Atchison. however.
which was largely bought here and by the
continent, dealings were still comparatively
restricted. Gold is still in strong demand
over $4,000 having been bought in the open
market this week for Austria. The Paris
and Berlin markets were good"
LOANS. EXCHANGE AND BONDS
New York, July 2S.-Money on call very
steady. l per cent; last loan / per cent:
closed offered ! per cent: prime mercantile
paper 3d4 per cent: sterling exchange very
steady, with actual business IN bankers
bin at NLS7l4 a4S7ie for demand. and az
S-S6i. "a. ssh for sixty days; posted rates
ASq4S7i2 and &.ssf4 ssh; commercial
~ lie slr-ey- 1<
fered at 80 cents; bar silver SIS cents per
ounce; Mex!con dollars +5i4 cents. Gov
eminent bonds strong; state bonds quiet;
railroad bonds strong.
SILVER STILL LOWER
New York. July &-The silver market
was very unsettled and showed new low
record prices in response 10 the decline IN
London 20 55ss. Bar silver was quoted here
a; 572s. Is decline from yesterday and
Mexican dollars were down 20 45l4. The
quotations used for bar silver represent:
the price of foreign freight charges and
If insurance were deducted it would make
the real value of bar silver fractionally
lower. The decline today is merely con-
tnuance OF that which there have been
daily fractional recessons Government
assay bars were quoted a 57Ss cents, while
the value of the silver standard dollar Is
H5e
TREASURY STATEMENT.
Washington. n. c.. July 2S-Today's
statement of the condition OF the treasury
shows: Available cash balance $50, 40, o2S:
gold reserve. siSt. SS7. 80.
SILVER SHIPMENTS
New York. July 2S-One hundred thors-
and ounces additional OF silver has been
engaged for shipment on the Norman:a
tomorrow making a total OF I15,c0 ounces
10 be shipped tomorrow.
GRAIN AND PRODUCE MARKETS..