The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-20
STOCKS AND BONDS
BEARS GET IN THEIR WORK ON THE
SHARE MARKET.

Volume OF Trading Much Lighter Than
Thursday's-GeneraI Decline of Prices
Is the Result Effected. With Offerings
Much of a Market-Closing is Weak,
With Many Shares Materially Losers
Anthracite Coal Shares the Point of At
tack-Ueek's Review.
New York, March 19-The sales OF
stocks today were less by over 100, 900
shares than they were yesterday. The
bears succeeded in their enterprise of ef-
fecting a general decline in prices, but
the offerings of stocks were soon ex-
hausted on the decline and there was 20
market TO speak Of left. The course OF
prices was extremely irregular all
through the early part Of the day, but
the tendency seemed to be towards I
ing an advance. Sugar rose l Is per
cent, rather Inexplicably, in view of the
unfavorable results prophesied for the
industry under the proposed tariff. Chi
cago Gas advanced 1 per cent and Rub
Der preferred, after an initial break of
] IA per cent, recovered the loss. The
railway shares also rose pretty uniform
ly, though 10 a fractional extent, under
continuance Of the good buying of the
last few days. Depressed prices for
Americans in London and small sales for
foreign account of international shares
did not affect prices generally. After
midday. however,a reactionary tendency
set in, which gathered force as the day
progressed and ultima tely carried prices
10 the lowest level of the day. The bears
chose for their attack, as they did yes
terday, the anthracite coal shares and
some OF the industrials, The coalers
were vulnerable to attack, owing TO the
depression in the trade and rumors Of a
bearish nature The news that the board
of governors Of the stock exchange had
announced a termination of the contrac:
with the Gold and Stock Telegraph COM
pany, which supplies ticker service,
caused a recession in the price of West
ern Union, which controls the Gold and
Stock company. The loss in price was
ga per cent. On the coalers, New Jer-
sey Central suffered most, falling SO
per cent. The following shows the range
of decline in some of the other stocks:
Northwestern ! 3-S per cent: Chicago
Gas Is per cent: Omaha 1 IL per cent;
Chicago, Cleveland, Cincinnati and st.
Louis l IS per cent; Consolidated Gas
1 IA per cent; Delaware and Hudson 1
10 Manhattan 4 Mt
Leather preferred Is per cent, and
Lead 1 3-4 per cent. 1t will be observed
that Vanderbilt and Gould properties.
which have been conspicuously strong of
late. did not escape the reactionary ten
dency Of the market. Unfavorable re-
ports OF trade conditions caused the fall
In Leather preferred. The market clos
ed weak and with very material losses
In many shares. The total sales of stocks
today were 1925 shares. including:
American Tobacco 1000; American SUI
gar 25,200; Burlington and Quincy $500:
Chicago Gas Trust receipts %, 700; Chica-
go. Cleveland, Cincinnati and st. Louis,
5000; Manhattan Consolidated $1,000;
New York Central 5000; Northwest,
$500; Northern Pacific $500: Northern
Reading $500; st. Paul 1890; Western
Union 3,4e0; Southern Railway preferred
400; New Jersey Central II 500
Bond values We're irregular on moder-
ate dealings, but fairly good undertone
was apparent, and striking gains were
registered in some securities which have
lacked effective support OF late. The
market broadened appreciably and the
active mortgages were practically neg
lected. The sales were 81, 127, 900
Governments continue to display a
reactionary tendency on light offerings.
The sales were S26 600.
FOREIGN STOCK MARKETS.
New York, March 1s-The Evening
Posts London financial cablegram says:
The stocks markets opened fiat today
on politics, but closed better on sharp
recovery in Paris. This was no change
In consols on balance. Americans OPEN
ID good but gave way later in absence
Of support. Central Pacifics were eSpec-
tally fiat on Dutch sales, closing at me
lowest. The money market is hardening
on politics ana the approach OF the end
IF the quarter. The continent and Japan
are buying gold. The India budget was
Issued today. 1t is the general belief that
the allusion TO a rupee loan is merely
meant as taking the power to do IT, as
the condition of the Indian money mark
e. is entirely unfavorable TO any such
operation. The Paris bourse closed good
with a sharp rise in italian and Spanish
securities In the present condition OF
political markets, Paris is quite a lead
ing factor
REVIEW OF THE WEEK
New York, March 1s.-Bradsreet's f.
cancial review tomorrow will say:
Greater certainty and continued 'rreg-
hlarity in the movement OF prices have
been the features of the weeks market
While a portion of the list. headed by
the Vanderbilt stocks. again showed a
marked tendency to advance, there have
ecen bearish demonstrations. the most
important Of which was in Missouri Pa
Hflc. The movement in the latter stock
peenls to have been bear rad, facili-
lated by TIE unprotected position Of the
eock. Runors Of difficulty in regard to
meeting the company's April interest was
put out. and heavy selling ensued.
Rhich carried the price down from 20Ss
pc cent on las Saturday 10 Is per cent
On Tuesday. Such a decline naturally
started receivership rumocs, and was ag-
gravated by liquidation and the exhaus-
ION OF margins. Den'als bv the man
igement that there was any ground for
apprehension seemed Intellectual to check
the decline. and it was not til Tuesday
afternoon, when the leading officials an