The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-07

tionals Get the Benefit of 1t = Many
Stocks Moved BY Special Influences Only
Railway Group Much in Evidence, the
Gransers showing Exceptional Strength
Bonds Firm, With Little Change.
New York, May 6-There was consider
able strength apparent in tcday's market,
but it was due rather TO the combined ef-
feet Of special influences on individual stock
than to any development in affairs affect
ing values generally IN the market The
narrowness OF the market and Its profess
sional character left it very susceptible TO
such influences and the fact that the shor.
interest has been largely reduced was
shown by the small dimensions OF the ma
nipulative movements TO Offset the advan-
ces. 1t viii be remembered that prices
were sold off to some extent yesterday, on
the supposition that the British holders OF
American securities would reflect the pub
lie resentment heretofore manifested over
the rejection by the senate Of III arbitra-
ton treaty by offering them for sale. AS
nothing OF the kind occurred, the interna-
tioral stocks on the contrary showing ratn-
er exceptional strength, it was natural that
there should be some recovery or yester-
DAVIS losses. Another favoring influence
was that today was the time set by the
exchange houses for definitely deciding
whether they should make further gold
shipments are projected was accepted as
an encouraging feature of the general sit
uation. Many stock movements were large
" due to special influences and Their IN
fuence or the general list was only sympa-
thetic The strength of Chicago Gas was
such an influence, the dealings in that
stock being larger than any other on the
list 1t, together with Western Union, Su-
gar. Burlington and 81. Paul, ABSORBED
about half the total sales of the day. The
pressure on the Gould shares continued
very severe and the long continued weak
ness of these. coupled with the absence or
inside support, caused the circulation or
rumors of liquidation Of heavy interests.
Later the prices Of the group showed COM
plete recovery on reassuring statements
from ACKNOWLEDGEMENTS There was more
or less restriction manifest in the move
ment of Sugar, which was attributed TO a
polite purpose to prevent very manifest
response in price 10 the announcement OF
the tariff bill. Omaha declined because no
further dividend is probable this year. Chi
cago and Alton made a marked decline on
the reduction OF the quarterly dividend on
both the common and preferred stock from
per cent TO 1s4 per cent Tennessee Coal
and Iron enjoyed an advantage on the an
nounced settlement of its controversy with
its iaborers. The net gain on the standard
shers on an average was a large fraction
The decline in Missouri aPcific reached 2ls
ger cent, the recovery being almost COM
plete Brooklyn Union Gas jumped "a per
cent and Metropolitan Traction per cent.
New Jersey Central gained 1s4 per cent, and
Delaware and Hudson rs per cent. Chi
cago and Alton, which was l66 per cent,
bid last night, was sold al l63 per cent, and
closed at l55 per cent bid. The decl!n in
Omaha was IL per cent, with rally Of a
point. The grangers showed exceptional
strength, advancing from ad1ss per cent,
the latter in Rock Island. Other gains
were: Lake Shore. ? per cent; New York
Central, 1is per cent, and Northern Pacific
preferred, l point.
The total sales Of stocks today were ST.
5i6 shares, including: American Tobacco.
{, 600; Burlington and Quincy, 500: Chicago
Gas, $500; Louisville and Nashville, 6.s0;
Manhattan Consolidated, 400; Missouri Pa
cific, $500; Omaha, 1890; ST. Paul. s.0o0;
Tennessee Coal and Iron, 3,ic0; Western
Union, l9, 800.
The bond market broadeued appreciably
but few important changes were scored in
prices The undertone of the market was
quite firm.
FOREIGN STOCK MARKETS.
New York. May 6.-The Evening Posts
London financial cablegram says:
The stock markets opened good today
but reacted sharply on the reported Greek
successes and on the ordering OF more
troops for the Cape The former proves
to be exaggerated but not so the latter
As 1 have repeatedly cabled you, the city
regards the African situation seriously.
There was a smart rally in English rails on
realization before the settlement. Brazil
ians were again very fiat on fears that the
may not be as successful as il
desires in leasing its railroads. Details OF
the gold movement for the week show tha,
tx, eco pounds was received from the Cap,
s.. 600 pounds from China. o. 900 pounds from
Australia and 12.eo0 pounds from Portugal:
that 1900 pounds in bar gold was sold
and that 1900 pounds went TO the continent
The aPris and Berlin markets were steady
10 firm
DIVIDENDS DECLARED.
New York, May 6.-The directors o. the
and Alton reduced the annual d.
v.dend on the stock from per cent to I
per cent per annun. The price OF stock
fell from 165 bid yesterday 10 159 offered
az noon today The reduction refers TO
both the common and preferred stock The
Is. per cent quarterly dividends on both
stocks which have been declared are pay
able on June !.
The liqu;dating trustees OF the Standard
OF trusts have declared a quarterly i;vi-
tend OF per cent and an extra dividend
Of per cent. payable June Is.
LOANS. EXCHANGE AND BONDS.
New York. May 6-Nouey on call nom
.naIly al lizd2 per cent; prime mercantile
paper 3;sG4 per cent; sterling exchange
firm. with catual business in bankers bills
az ANdLs.l. for demand. and at $3.50
I s6i4 for days: posted rates s.SSk64 s.
and 81. sSS4 ssh: commercial bills 3. Si5: sill
yer certificates siisa6l5s; bar silver 81: Mex
can dollars Az. Government bonds firm:
new fours registered and coupon 122Ss fives
registered and coupon HE'S; fours register
ID 1leSs: coupon IL; twos registered, 81:
Pacific skies OF 'ss, i6i,s-
BANK CLEARINGS
New York. May s-Ciearings sl15 So IS:
balances s. AssI9.
Boston. Mass. May 6-Clear;ngs SIS. A.
80: balances 3. HISS
Philadelphia. Pa, May 6-Clearizss s.
~ -; balances ssios5S-
Baltimore. Nd. Nay s.-Cleaangs s.. So
%: balances $3.50 Ss4.
ST. Louis. No. May s.-Clearings 81 s5s.-
As: balances ssii7i.; money 567 per cent:
New York exchange - cents asked; % cents
bid
TREASURY STATEMENT.
Washington d. c May s-Todsy's state
-lezt OF the coristion OF the treasury shows |
available cash balance SGfE%s -: gold re-