The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-26
STOCKS AND BONDS
TOTAL TRANSACTIONS LESS THAN A
HUNDRED THOUSAND.

unto Two Million Shares Might be Ex-
pected to Change Hauds-street Holds
ON on Account of Cuban News and the
Near Change of Administration-Bon
in Demand.
New York. Feb. 25.-The remark is heard
sometimes now in Wall street by disgust
ed traders that there might as Wen not
be any stock exchange, considering me
small amount of business being done. Inc
sales of stocks today were only So'v'
shares. which is small, but not much pelo"
The average for many days past ms
figure is in great contrast with that OF
former times. but very long ago, when the
number of shares dealt in would run All
the way from 100000 to 100000 shares IN
day. The stagnation in todays market
held in face of many encouraging factors
in the general situation, including an IN
doubted confidence in the minds OF most
business men that an industrial revival Is
iminent in the country and has actualiy
set in in several branches OF business Gut
of seventeen reports OF the earnings Oh
railways for the third week OF FEBRUARY
published today, fourteen showed an IN
crease. Prices rose on the London exchange
on the promise of peace in Europe, yet
the confidence of the traders in the I'M
provement OF values lasted only snort
period after the opening, when staSna-
;ion and neaviness again dominated the
market, and held it to the close The
small volume of trading left VIDE gaps,
even in the list of usually active stocks.
An immediate cause OF the apathy IN To-
days market was, without doubt, uncer-
int
sion in the relations between this country
and Spain, and fears of the effect on val
res of the ardent discussion reported 10
be in Progress in congress over the NAL
treatment OF American prisoners IN Cuba.
There is an undercurrent of feeling in the
street that possibly the authorities at
Washington are holding off complications
to give the new administration opportuni-
ty to shape its own policy upon them.
The near approach of the new adnlinistra-
ton naturally leads to an attitude of wait
:nc for information on questions of policy
generally These considerations soon gave
a check to the moderate buying movement
with fractional advances, which opened
the day. A decline followed, which was in
most cases of equally narrow proportions.
Indeed, the undertone of firmness in the
market is notable and a falling market
finds the openings quickly exhausted. The
receiver for the Hooking Valley and
there was little effect on the general mar
ket. The financial straits of the company
were due to the recent Generalization in
Ohio soft coal traffic, now adjusted by
agreement with the result of improved
railway earnings. Strangely, the stock adj
vanced 81 per cent upon the first announce
ment of a receiver, after an early decline
OF IL per cent, but it broke again to 3lt
per cent, and closed at 39s per cent. The
general fives fell ~ per cent, and rallied
l per cent. The SKIES opened unchang
ed at 50 per cent, and advanced to 551s per
cent on the announcement of the propos-
ed reorganization. The investigation OF
the coal agreements by the executive com
nittee, together with decline in Lemgh
Valley at Philadelphia, were the Factors
in decline of New Jersey Central OF IA
per cent, with subsequent recovery OF Ia
per cent, the net decline for the day be-
ing 81 per cent Sugar, Manhattan and
Tobacco, wer also conspicuous in the de-
cline that became general. There was
slight rally about l O'Clock, when the fall
Of values Sc in again, some shares clos
ing at the lowest. Sugar dropped to ia
per cent. The market left off weak, with
fractional losses throughput. Omaha was
more actively dealt in than ow late and
advanced fractionally, and the preferred
also jumped IL per cent; to l30 per cent,
closing 1876 per cent bid.
The total sales of stocks today were
81. C91 shares, including: American Tobac-
CO. $500; American Sugar. 1920; Burling
ton. 5000; Reading, 500; st. Paul. $500.
A favorable symptom of the general con-
fidence in the financial outlook is indicated
by the growing demand for bonds, which
are rela more active than stocks The
ease with which large amounts of munich
pal mortgages are floated. and the ready
acceptance of considerable amounts of
refunded railway issues at largely reduced
interest rates reflects plainly the vast
amount of money awaiting profitable in
vestment. The speculative bonds are COM
paratively less active and move narrowly.
The Hooking Valley mortgages were the
feature of today's trading and registered
material gains. The general undertone was
strong, but the improvements did not ex-
coed fractional proportions as rule. Sales
s.. IS, coo
Prices of government securities continue
TO advance, with the new tours coupon at
l225s per cent on a purchase OF block
OF $l01,o0c.
CALUMET AND HECLA.
Boston. Feb. 25.-The stock of the Cal
umet and Eecla Mining company broke all
records on the Boston exchange today,
when a sale of ten shares was made at
on record for Calumet and Hecla, as Wei
as the highest price ever paid for any reg
ularly listed stock on the local board.
FOREIGN STOCK MARKETS.
New York. Feb. 25.-The Evening Posts
London financial coblegram says:
The stock markets opened good To-Day
on the news of the decision Of the pow
.rs as to Crete Consols were an eKcep-
ton. hcwover. but taey rose to III 1915.
The markets gave way later and the close
was dull and under the best prices. The
reason for the setback Is mainly nnan-
cial troubles AS fully explained in my ca
clegram of the eleventh inst, the weak
SPECULATIVE account is probably larger
than has been supposed. Kafirs were
fat for the seasons stated, and on the strife
between the VoIkersraad and the pudge>,
which Is likely to have a far-reaching ef-
feet on African politics. Americans open
ed good. but closed dull. The London mon
ey market closed slightly easier at l5-ls
per cent Parcels of four and six months
bills to arrive next week have>been placed
at i. per cent. The Paris bourse was
duh on the sharp break in Spanish secuTi-
les. The Berlin market was firm
LOANS AND EXCHANGE
New York. Feb. G.-Moaey on call cas-
Ter, At llxGls. per cent: last loan IL per
cent; closed offered a 1i-13 per cent;
prime mercantile paper 5a4 per cent Ster-
Ing exchange firm with actual business
in bakkers' bills at 81 s5d4s7i4 for demand
and s4Sd4Si. FOR sixty days; posted rates
s4Si1Q4S;. and sSixat.s; commercial
bills SiSIs; silver certificates si74 Gs5I.. Bar
silver Ga. Government bonds strong;
state bonds. quiet; railroad bonds firm
BANK CLEARINGS.
New York Feb c5-Bauk clesr,nEs. sN-