The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-02

INDICATIONS are Tor Reaction, But Senee-
tIonal Operations in Certain individual
Stocks Put the Market in the Position
Rather the Leading Role. Advancing
93-4 Per Cent Net, Amid Great Excite
ment-Tobacco and Sugar are Centers
of Observation-Disclosures Show Gaius.
New York, Sept. 1.-The indications
from today's market were that prices
| generally would have suffered materi-
al reaction had it not been for the SEN
sational advance shown by individual
stocks. Buyers were evidently possessed
by furore of speculat ton, and the diff
ficulty Of moving the prices of most Of
the leading railroad shares led to those
securities being comparatively neglect
ed.
Stocks concerning which some favora-
bic prospect was reported, but without
definite details, and not backed by au-
rhority, were chosen as the favorites in
the speculation. The sensation of the
day was the jump in the price OF
Omaha, the stock touching 81 1-2 per
cent in the final transactions. The ex-
treme rise was 10 "a per cent, and the
net gain point less. The stock was not
exempt from the depression which weigh
ed on the grangers and in fact on most
Of the list during the early part Of the
day, and it sold down IL per cent from
last nights close. BY o'clock it had re-
covered the loss and gained over 2
points additional. But in little more
than an hour of the latter part Of the
day the price mounted several points
and was in the full tide of advance
when dealings ceased. The trading was
attended by great excitement, and the
pauses in the advance were only mo-
mentary and at wide ranges. The rise
was due to belief that the stock will
shortly be placed on a regular dividend
basis, the size Of the proposed dividend
forming the subject of the excited specu-
lation. Northwest, which is in the rela-
ton parent property to Omaha, improv-
ed, in sympathy, but reacted partially.
while Omaha was still strongly advanc-
ed. Sugar also continued to be an ex-
citing center of specula ton in the morn
ing and advanced 8 points on rumors Of
a distribution Of surplus and Of advanit-
ages TO accrue from exclusion of Dutch
refined sugar. Tobacco also opened near
~ points higher, but this was also the
highest of the day. The two stocks fluc-
tuated in a very erratic manner all day,
but closed with a net gain Of rs per
cent for Sugar, and So per cent for To-
bacco. Missouri Pacific touched 40 per
cent in the opening transactions, but
fell off during the day on realizing, TO
below last nights close. The coalers
made some display OF strength during
the day, especially the Reading stocks,
but they succumbed 10 depression later.
Rock Island also advanced at one time
over point above the lowest, as did
Louisville and Nashville, but the latter
declined below yesterdays price and the
former saved only a fractional net gain. |
With these exceptions, the list was al
most wholly given over to depression. |
The days changes are small. but the |
majority of the active issues show losses |
SALcHulI.S ~ OF per Scill IA ->Oi lLCi II |
Pacific preferred on its poor show of |
earnings. Railroad stocks that showed |
shap gains were Chicago and Eastern |
Illinois preferred, Great Northern pre- |
ferred, Lake Erie and Western prefer |
red, Mobile and Ohio, St. Joseph and /
Grand Island first preferred. and St. J
Paul and Duluth. The industrials as a |
rule showed gains, notably in the Cotton
Oil stocks, Sugar preferred. local gas
stocks, General Electric. Metropolitan
Traction, National Lead, National
Starch, Leather preferred and Oregon
L8clede Gas lost over
point and Detroit Gas per cent.
THE DAYS SALES.
The total sales of stocks today were
,5S,742 shares, including: Atchison pre-
ferred 11,574; chesapeake and Ohio o.
80; Chicago, Burlington and Quincy 49,
los: Louisville and Nashville 6,313; Mis-
souri, Pacif q $50; Missouri, Kansas and
Texas preferred $3.50; New Albany and
Chicago 1890; Northern Pacific preferred
$50: Northwest 7,470; Reading $40:
Rock Island a0,125: St. Paul 27,4S0: ST.
Paul and Omaha 27,250: Southern Rail
way $500, preferred $3.50; Texas and
Pacific 3,340: Wabash preferred 1850;
Cotton OIL 1850; American Spirits 1875;
American Tobacco 4,9S5; Bay State Gas
200; Chicago Gas 1870; General Elec-
rio 5,16G; Laclede Gas 10, coo; Lead H.
20; Pacific Mail 1920; Sugar 32170;
sugar preferred 1885; T. c. and l. 7,s45;
United States Leather $3.50. preferred
0 900; Western Union 1890; Chicago
treat Western 1858.
BONDS.
The bond market showed some falling
fl in activity. the par value of bonds
old amounting 10 about $500, 900.
PRICES were generally higher.
United States new tours, registered,
bid at 126 Is per cent, the highest
rices recorded. The five coupons sold az
Is rs 10 ia per cent Total sales G1O,-
90.
CALUMET AND HECIA.
Boston. Sept. 1.-At a meeting Of the
oard OF directors OF the Calume, and
iecla Mining company, today, divi-
end of so per share was declared.
FOREIGN STOCK MARKETS.
New York. Sept. 1.-The Evening
'ost't London financial cablegram says:
The very bad weather Of today damp
ned all the stock markets, which closed
I'LL on the withdrawal of large amoun:
gold for Austria or Russia. The In