The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-12

Some Besides Lost, - General Rule
Gold Actually Engaged and Ramors Of
More for Shipment Have Much to dc
with the Case-Bonds sitter. With For.
eign Buyin9-GovernmentsR eactionary
London Markets Continue Good.
New York, May 11.-Today's market
for stocks continued to be strong and
prices advanced all around as long as
the London exchange was in session TO
impart its buoyant influence to the To-
cal market. The dealings showed some
animation and increase in the volume
and the rise in price was easy and unin-
terrupted. But the spirit Of pessimism
was too strong TO last very long after
the adjournment of the London ex-
change, even with London continuing to
buy quite heavily in this market after
the close Of its exchange. The prices Of
Americans in London have halted some
what up 20 this time, In spite Of the gen.
eraI Improvement in that market grow
ing out Of the subsistence of the alarm
over the war in the east, because Lon
don waited for New York to give the
cue for an advance. Today, however,
the general tone in London was so strong
and the Improvement so general that 4.
extended TO the Americans withou.
waiting for New York's initiative. The
cessation Of the days trading in Lon
don was followed by the announcement
here Of a 100000 gold shipment on
Thursday,and this was followed by a va
que rumor that shipments for the week
would probably reach a total Of $1,000
900. Although gold shipments have been
expected and confidently predicted for
this week, the bulls lost heart In face Of
the actual announcement, and the whole
market sold off with no subsequent re-
currence of decisive strength. As ma:
ter Of fact, exchange rates ceased per-
ceptibly with the offerings Of bills
against the gold shipment, and the large
purchases Of securities by London here,
estimated at 5000 shares Of stock and
large blocks Of railway bonds. The i'm
provenent in the price Of Kaff1rs in Lon
don today is another factor to be con-
sidered in the exchange situation, as the
navy liquidation sof Paris holdings Of
these securities onlthe London market is
the reputed cause OF the Paris demand
on London for gold, and, indirectly. Of
the shipments of gold from New York
to Paris. These elements in the situa-
ton make the volume Of gold to be ship
ped from here this week still more prob
lematicai, with a growing likelihood that
they will be less, rather than more, than
was anticipated. But these cOnsidera-
tons did not allay the apprehensions OF
the traders and they allowed prices to
decline. AS consequence, net changes
on the day are generally very narrow,
but as a general rule all Of the early
gain is more than lost, with resulting net
losses of a fraction, the volume Of deal
ings greatly diminishing on the decline.
Chicago Gas, st. Paul, Burlington, and
Western Union were the most active
stocks, in the order named. Burling-
tons range was point, with net loss
Of a narrow fraction, while St Paul re-
tanned a fraction of its early gain. Chi
cago Gas advanced 3-S per cent and de-
clined a point. Western Union advanc-
ed Is per cent on coverings and gain
ed S-S per cent net. Manhattan also
was strong early and gained 2 per cent.
butafterward lost l Is per cent. The
net losses in the coalers were wider than
elsewhere, extending to point in New
Jersey Central Foreign buying was re-
sponsible for advances Of 2 5-S per cent
in Norfolk and Western preferred, and
1-2 per cent do. common and Oregon
Navigation preferred Sugar moved mar
rowly.
The total sale Of stocks today were
1852 shares including: American SUI
gar TO- Burlington 1920: Chicago
Gas 26, 200: Omaha $500; Louisville and
Nashville $500; Manhattan 1920; North
ern Pacific preferred $500; Pacific Mail
S,4OO; Reading 6,10O; Rock Island $500;
ST. Paul 1880; Western Union 1850;
New Jersey Central $500.
The bond market displayed stiffness
generally in moderate transactions,
with renewed foreign buying the fea-
ture. The arbitrage house took blocks
of various issues. which include Atchi-
son. Northern Pacific and Fries ThA
sales were s1.194.O0c.
Governments display a reactionay
tendency and sagged slightly on sales Of
s39, 900.
PACIFIC MAIL DIVIDEND.
New York. May 1.-THE directors Of
the Pacific Mail today declared the regu-
lar 1 per cent dividend, payable June 1.
FOREIGN STOCK MARKET.
New York, May 1.-THE Evening
Posts London financial cablegram says:
The stock markets here continued
generally good today. with wide fluctua-
tions, however. The settlement shows
a small account everywhere except on
home rails. Con;angoes on Americans
are - per cent and money is gener-
ally easier. The two main markets TO-
day were American and mine. Kaffirs
closed under the best, but Americans fin
ished at the top, Norfolk and Western
being practically favored. The Japan |
csc per cent sterling loan OF $500. 900 |
pounds is expected daily; the issue |
price is not known. The marke: feature |
at the moment is easy money. A good |
deal. however, depends on whether the |
new japanese loan means extensive !
gold Withdrawals AS 70 this nothing is |
known. The Paris and Berlin markets |
were firm. The London county council |
Is issuing a 500, coo pound loan in short
dated bills This was announced after |
business hours and is interesting because |
il marks new procedure and, with 9TH |
er new loans, may tend 10 harden the |
money market
LOANS ANDsEXCHANGE.
New York, May iI.-Money on call |
l 1-4G1 IL. Prime mercan- |
iilep aper 1-26i per cent Sterling ex-
change steady with actual business in |