The Wichita daily eagle., 1897-02-09
STOCKS AND BONDS
LEX0W COMMITTEE HAsTHEINDUs.
TRIALS PANICKY.


Coming Next, That Property L. Accord
hsIy Depressed With Chicago Gas.
American spirits and Illinois Steel Keep
ing Ii Compauy-Bonds Less Active.
New York, Feb. s.-The Overwhelming
portions Of the transactions on the stock
exchange today were in the industrial
stocks. with Sugar far in the lead in point
Of activity. Many factors combined TO de-
press this group OF stocks and the narrow
limits Of transactions in the general lis
made 1t easily subject TO the depressing in
fuence OF the leaders, with the consequence
that the course Of the market was sharply
downward during the day, with a marked
rally toward the close. The situation IN
the industrials continued much the same
as for some time past, all being depressed
by the proceedings in the city. of the legis-
lative COMMITTEES which IS now investigat-
ing the Sugar company. with a further in
vestigation of other companies still in pros
pect. Sugar. as being Immediately the sub
ject OF the investigation, and as being open
to other unfavorable conditions. was in the
gan with the opening. and after a period
of apathy continued IN a manner resembl-
ing partial Generalization. There were evil
dences of quite heavy liquidation in this
stock and in the course OF the decline ex-
tensive stop orders were apparently en-
oountered. which accelerated the fall in
prices. The whole market became a vic
tim OF this movement. the industrials in
he 1=r fra
tionally. There was a notable lack OF sup
port for the yielding market. and the de-
cline was practically unopposed The de-
cline in the price of Sugar in this move
merit was 2S4 per cent. Leather preferred
yielded IL per cent; Tobacco 1st per cent;
Chicago Gas I per cent; American Splits
preferred rs per cent and Illinois Steel I
per cent. In the railway list Rock Island
fell off rs per cent; Northern Pacific per
cent; Northern Pacific preferred Is per
cent, and eDleware and Hudson per cent.
Some influence was also caused on the
market by an unfounded rumor that Ad-
rniral Bunce's squadron of Unitef State.
warships had been ordered TO Havana TO en-
force the release of American prisoners
there. There was also some depression re-
fected from London and Europe over the
LnSteadineSs felt there on account of the
political situation, the cars i'll health and
the friction between the British and French
governments over Egypt. But the decisive
influence in the market was undoubtedly
the LeAow trust investigation committee
and the days proceedings before it. This
Uas shown by the rally which occurred IN
the open market on the announcement that
this committee had adjourned over until
Saturday. Sugar rose on this announce
ment and regained all but q per cent OF
the days loss, carrying with 1t the other
industrials. Tobacco. however. benefited
only by 4 per cent, thus scoring a net loss
OF IL per cent, on account of the belief
that it is to be the next company TO be
taken up by the investigating committee
The preponderance of Sugar dealings in the
market is shown by the fact that nearly
half of the total number of shares dealt in
for the day were of that company The mar
ket was almost wholly a professional one,
and the rally after the decline was much
accentuated by the covering of short in
terests. The dealings In other shares were
without special significance or Importance
the course OF prices being almost wholly in
sympathy with the industrisis The I'M
provement shown in the statement of east
bound tonnage failed to exert a sustaining
effect in railway shares and the general
list shows fractional net decline. London
sold at the outset. but later turned buyer.
The trading was somewhat unsettled after
the rally, but the closing was firm The
Atch:son new common stock was first dealt
in today and sold az 12I.al4 per cent.
The total sales of stocks today were 1A.-
ego shares. including: American Tobacco.
500; American Sugar. $500: Burlington,
500; Chicago Gas, $500: General Electric.
800: Louisville and Nashville. $500: North
ern Pacific. $500: Northern Pacific prefer
red. 500: Reading. 800; st. aPuI. 1000.
The bond market was less active but
fairly good undertone prevailed near the
close when some concessions occurred in
The speculative issues. The gilt-edged stock
continued conspicuous in the dealings, with
Erie first consols rising "a per cent, to 14s
per cent and reactins to l42 per cent. The
sales were si.5s6,00o.
Government bonds were dull. but strong
The sales were $1,000
FOREIGN STOCK MARKETS.
New York. Feb. S.-The Evening Posts
London financial cablegram says:
There were heavy and depressed mar
;ets today, owing 10 political complica-
ions. They closed above the lowest. Moth
ns is doing. There was much bear selling
because easy money remains factor. The
Americans were weaker. closing al the low |
st. Japan bought 10000 IN gold. The
Paris and Berlin markets were weak"
London, Eng. Feb s-CIos,n.. Corsoi.
or money IL Ills; for the accoun, Ii2 l3-Is.
-anadian Pacific 572.: Erie 49,: Ere SCI !
'nds SJ-.; Illinois Central s7It; Mexican Or !
.inary H',; ST. Paul. common ~. Nev
fork Central IS: Pennsylvania 52lz: Read |
as I$.s' Mexican Central new ~. 20: Atch- |
son 10. Bar silver g3.d ped ounce Noner |
dll4 per cent The rate Of discount II IN. /
pen market for short and three month.
'ills IL. per cent Gold Is quoted a: Bueno. \
.yres 10 Gay at a5: al Lisbon 4o1s: a Rome /
e 6ciz
The amount OF bullion gone into the Bank
{ England on balance today 10. onO.
Berlin, Germany, Feb. S-Exchsnge on
-ondon, eight days sight. % marks 40 pfen-
igs
Faris. France. Feb. s-Thre. p.r cen.
entes lo2 francs s7i4 cendmes for the ac-
cunt; exchange on London - francs Is
entines for checks.
LOANS AND EXCHANGE.
New York. Feb. s.-Money OF call easy q.
"a per cent; last loan IL per cent. closed I
nered AZ III per cent; prime rnercantfle
aper 3d4 per cent: sterIfny exrhzux. s-ea. !
y. with actual business in bank~rs BIS =.
So z14 80. for demand. and A4iz64 "a.
1r sixty days; posted rates nS ard as71,
Ia: commercial bills SS1z- Silver cer-
fcates A7s1Soi.: bar silver s1.. Govern
lent bonds about steady; state bonds dull:
abroad bonds easier.
BANK CLEARINGS
New York Feb. s-Clearlngz lS 81. fss:
alancss p.sl7.55s
Boston. Mass. Feb. s-ClesrinEs I'll ga
e: balances s. .Z4.Ie
Philadelphia Pa Feb. s-CIesri-Es 3.
:. I5l; balances g. .isSsa
Al -f-~-- EaA 4
Z: balances szs. .s5s
Chicago. Ills. Feb s-Clazr.aSs sIz71s-
2 New YORK excEarg~ = cs1ts discount
oreiga exchange barely steady; Toste. !
rrS "a S-1@ Mr-av rGS 4