The Wichita daily eagle., 1897-03-06
STOCKS AND BONDS
UNDERGONE OF FIRMNBSS PRE-
WALLS IN THE SHARE MARKET,

Moreover There Is Resistance TO Discour-
aging News From Europe Cretan Alarm,
Coming by Way Of Londcn, Starts a De-
cline, Which is Checked by Buying
Movement Through Com mission Houses
Genera. Advance Holds the Greater
Part of the Day-Late Profit Taking and
Other Considerations Weaken MARKET.
New York, March 5.-The undertone of
! firmness in the market today, and its stub
| bern resistance TO the rat;led discuragin
| tone reflected from Europe, were notable
features. The Cay opened with a decline,
| due 10 the adarm manifested on the Lon
| con and continental bourses over the very
| Threatening aspect of Cretan questions, and
to sales fer London account of international
shares. This decline was soon checked,
however, by quite strong buying move
| ment coming through commission houses,
| apparently for investment account. The
| natural disposition of the market seemed
to be TO rise and to wipe out the decline of
today to reaction and profit-taking There
was. iE fact, a general advance in prices,
which held for the greater part of the day,
but very few shares attained the levela OF
yesterday mornig before the decline set in,
Much In same influences contributed 10 the
ris as early in the week, the Vanderbilts
being in excellent demand. New York Cen
trail especially was strong. The shares rose
n Shore
gained 2A per cent and Northwest an Oma.
ha rs per cent each. The high-priced in
vestment sticks also recovered part OF the
loss of yesterday, Omaha preferred and
Northwest preferred, New Haven and Chi
cago and Alton gaining to , per cent Tho
Srangers, also, and in fact. the whole rail-
way list, with few exceptions. shared in
the advantage gwen TO prices by the very
strong upward tendency of the Vanderbilts
and rose strongly. Commission house ord
ers extended over wide range Of shares
and gave variety to the market. OF the
granger group, ock Island showed an ad-
vance of III per cent, Northwest gaining
an equal figure. Burlington rose per cent
and st. Paul Is per cent, the latter in face
Of heavy London selling. An estimated ag-
gregate of sales for London account of 20,-
600 shares credited fully one-third of that
amount to st. Paul Louisville and Nash
vile was also heavily sold on London ac-
count and showed less resistance than St.
Paul, and finally declined 112 per cent. The
industrias showed strength and had APP
parently recovered from alarm over Presi-
dent McKinley's antitrust utterances. Su-
gar advanced 124 per cent, Chicago Gas l
per cent, Leather preferred IA per cent and
General Electric, with exceptional strength
1$s per cent on reports of growing busi-
ness. Manhattan and New Jersey Central.
recently the special target for bear attacks
improved per cent to is per cent, respec'
lively. Kansas and Texas preferred gained
l per cent. Even the anthracite coal group
displayed more strength than OF late. This
encouraging progress of events was retard-
ed about 1:30 o'clock by a movement to
take profits The continued sales of London
orders added to the weight of the market.
There was also in the minds of the traders
some expressed uneasiness to hear some
more explicit and authoritative announce
mcnt of the new presidents Cuban policy
than has yet been given, and to wait for
this development. The recession from the
high level We're quite sharp under these in
f1unces. Manhattan yielding Us per cent.
Sugar per cent, New York Central 1 per
cent, ST. Paul and Omaha l per cent, Pull
man 2h per cent and many other share,
notable fractions. Bay States Gas was
especially depressed on fears OF liability for
damages caused by yesterdays subway ex
plosion in Boston. The undertcne of firm
ness in the market was indicated by the
immediate relapse into dullness when the
downward trend of prices was established.
The closing was weak, but prices generally
showed a slight net gain on the day.
The total sales of stocks today were 15S-
96S shares, including: American Sugar, 3o,00o
Burlington and Quincy, 1890; Chicago Gas
trust receipts. $500; General Electric, $500;
Manhattan Consolidated. 1900; Louisville
and Nashville. 900: New York Central. s.
so; Omaha, 500; ock Island, $500; st. Paul,
1S,SO0
BONDS.
The demand for high-grade mortgages
continues unabated, and today's market
witnessed material gains in a variety of
these issues. The St Paul liens were un-
usually prominent and displayed the most
aggressive strength; the improvement rang
ing up to per cent the latter in LaCIede
and Davenport SIS. The speculative issues
were also in favor and moved up slightly.
despite the free offerings for continental
account. The sales were S.i76.oI0.
Governments were in god demand and
hardened slightly on purchases of SlS5.Oo0.
FOREIGN STOCK MARKETS.
New York. March 5.-The Evening Posts
London financial cablegram says:
THE stock markets recovered a further
decline on politics today. The best inform
ed people stin believe that a European war
will be averted, but the situation is admit |
ted to be critical Consols closed at the
lowest. III sellers. President McKinley's !
financial program caused no little comment, |
but it was not regarded as a bull factor. !
Prices of Americans. therefore, gave way
on the New York lead. but subsequently !
rose again, closing !: per cent above the /
worst, New York having absorbed all the /
shares offered. Gales seriously interrupted /
communication with the continent. The /
Paris bourse was weak and one failure re- /
suited from the heavy falling OF Greek and /,
Turkish stocks. Berlin was fiat and there 1
was a semi-panic at Vienna"
London, Eng. March 5.-The wild and sud /
den scare a the closing of the stock ex- /
change yesterday evening continued today 1
on the news from Athens. Console for 1
money fell from ll1Ss to 10 bis and con 4
sols for the account fell from 11Ii2 20 1llis /
In addition there were lower prices in all 1
departments and substantial reductions. /
Foreign securities were greatly depressed. /
The Berlin and Vienna stock exchanges /
opened today in a panicky condition.
BRADSTREET'S FINANCIAL REVIEW. |
New York. March 5-Bradstreet's finan- |
cisl review tomorrow VIII say:
Great activity has been displayed in the 4
stock exchange trading this week. and al
though the transactions have continued 10 /