The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-13

! Prominent the Last Hour-Court Decis.
New York. March 12.-During the greater
part Of today the stock market was gwen
over to the same apathetic condition that
has characterized it for the past few days,
accompanied by the same undertone OF firm
ness which kept most prices up. This firm
ness IN the market ended in a sharp ad-
vance IN prices as soon as any activity de-
velcped, which happened late in today s
dealings. The Vanderbilt stocks enjoyed
the principal advantage from the buying
movement, Omaha showing an advance OF
Points and New York Central II per cent
| on large volume of trading greater in
| each case than that in any other railway
stock. The transactions in Omaha were
only exceeded by those in American Tobac
| co, the leader in the market. The large deal
ings in Tobacco continued today and tbs
price received an upward impetus from the
decision in favor of the company in the
New Jersey suit which sought to annul the
charter of the company. Under the buy
| ing melted by this news the stock advanc-
I - III
cations under which the stock lost the ad-
vantage and rallied quite feebly. Sugar
was compare lively neglected and fell to
sixth place in the volume Of transactions.
The fluctuations were within fractional lin
| its and the close showed no change on the
day. Western Union came forward into
| prominence in the buying Of the last hour,
and was quite largely bought, with a re-
] aAx nf IN he ~
There was no news regarding the property
and the movement seemed to be the result
of professional calculations to equalize the
! value OF the stock, on the basis of a 3 per
cent dividend, with that of Manhattan on a
4 per cent dividend. The latter continues
| to sell higher than Western Union. The
effect Of the buying Of Western Union was.
however, to stiffen the other Gould shares,
Missouri Pacific being especially affected
Rubber proved to be about the heaviest
point in the market and lost z per cent
| for the common stock and ia per cent for
the preferred. The ostensible ground for
the selling of Rubber was the news of the
closing down of some Of the company's
plants. There was quite marked inquiry
IN the late dealings for the anthracite coal
ers. New Jersey Central lost fraction in
the early dealings, but under the support
of the alter buying IL rose ~ per cent.
Delaware and Hudson also advance ! per
cent, and Reading a sharp fraction. The
grangers and Southwesterns showed a
strong close with fractional gains, although
the movement of their prices was erratic
during the day. In the spec.alties, Brook
lyn Union Gas rose 21s per cent and ConsoE
dated Gas per cent. There was nothing
in the record of the day to show that the
trading was other than professional aside
from some buying of the investment stock.
which, together with buying on bonds, had
been going on for some time. The mar
ket is sin extremely narrow and largely
subject to manipulative efforts.
The total sales of stocks today were H.,
7I6 shares, including: American Tobacco,
2o.900; Chicago Gao trust receipts, $500;
Louisville and Nashville, $500; Manhattan,
common, II 400; New York Central, 1000;
Northwest, 1890; Omaha, 1890; Reading,
6,e00; st. Paul, $500; Western Union, $500.
The keen investment demand for high
grade mortgages was manifested in the
days bond operations in which many is
sues recorded substantial improvements.
The market also was broader than for
some tine. with the speculative issues prac
tically neglected. The Lehigh and Wilkes
barre loans were exceptionally weak, the
consols declining 21s per cent, and rallying
l per cent. The formation of protective
committee in the interest of ,4Atchison, Jew
ell County and Western, and Atchison,
Colorado and Pacific bondholders influence
ed rise in these linens of 2d4 per cent
respectively. Other notable gains were IN
Rock Island frsts. 2 per cent; 81. Paul,
Minneapolis and Minnesota 4ts's and ST
Louis Southwestern Is, IL per cent. The
sales We're sl,47s,Oo0.
Governments responded fractionally TO
moderate investment demand, which was
most pronounced in the new As. The ag-
gregate transactions were $3.50.
FOREIGN STOCK MARKETS.
New York March 1.-THE Evening Posts
London financial cablegram says:
The stock markets were stagnant again
today. They opened fiat, but closed bet
ter. The dealings were purely profession
al. Kaliirs were dull. West Australians
had the best market. There was a further
recoverw III Brazils. Americans were life
less but steady. The settlement has been
satisfactorily concluded. Silver was fat on
the passage by the japanese lower house
Of bill for a gold standard. There are
signs OF a revived continental demand for
gold. The Berlin market was quiet and the
Paris bourse dull"
BRApSTREET'S FINANCIAL REVIEW
New York, March 12-Bradstreet's Finan
oial Review tomorrow VIII say:
At the beginning Of the week that has
ended speculative feeling here was inhu-
enced TO a considerable extent by the nerv-
GUS feeling of the European markets re-
gardinS the outcome OF the demands made
on Greece by The powers. This was re-
fiected by renewed bearish selling pressure
and the temporary withdrawal of support,
the market being particularly unsteady on
last Saturday a somewhat better feeling
asserted Itself. however, as soon as il was
known that the reply OF Greece TO the pow
ers would be conc.Eatory. and the fact that
the London market showed renewed firm
ness, together with the increasing proba-
bility that there would be a long delay and
an ultimate compromise. had its effects
Shorts were accordingly covered IN various
directions and the market, though duh and
professional. exhibited a strong tone and
general recoveries. The speculation
throughout was, it must be admitted, OF |
an exceedingly uninteresting character. In !
fact. comparatively little impression was 1
made by events that. under ordinary cir I
cCrnstanceS. would have resulted in more |
Or less movement. The announcement that /
4 financial house already largely interested |
n the anthracite properties. had arranged I
the floating debt OF The Leh:gh Valley and 4
acquired control Of the voting in that cor
ooTation caused an advance in its stock on i
the Philadelphia exchange. but i had Ii I
lie influence on the other coal roads. New 4
Jersey Central. in fact, was & heavy fea-
lure OF the market Manhattan was de- 4
pressed in anticipation OF The reduction OF
he dividend for the quarter from ~ % ! 4
,er cent, but rallied on short covering and