The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-29

Two Holidays Next to Come - Dizziness
Largely Due to Baltimore and OhIo's
| Interest Defs.uit - Exchange Market
| Continues Weak-Closins Prices Gener-
| ally Above Tbursday's Close.
New York. May 2s.-Today's market was
distinguished by intense dullness through
out almost the whole of the session. during
all Of which prices were very firmly held.
| SO that the lively demand in a few stocks
| to cover just at the close carried them sub
stantially above last nights close. Doubt
less part Of this buying was in anGcipa
ton Of covering movement which may
! develop at tomorrow's short session Of the
exchange, in view Of Monday being holi-
Gay, thus leaving an interval of two days
| before trading shall be resumed The dull
| ness Of the trading is an indication OF IN
DERIVING strength, as there were some I'M
favorable factors to hamper a rise and
holders preferred to hold with confidence.
The principal factor in the dizziness was
the unfavorable effect upon the whole tone
Of the speculation of the official announce
ment of the Baltimore and Ohio receivers
that there would be default in the inter-
est payments on some of the bonds coming
due on June 1. This action has been anti
cipated for several days, and the company's
securities have sold down accordingly. But
the effect today was none the less marked
both here and on the London market for
Americans, which were entirely neglected.
Some of the selling here for London &C.
count was due to the same cause The
sales of all stocks footed up a total Of only
ll1,l5S shares. There was no positive weak
ness in the market, but the weikht Of SEMI
stagnation prevented values from benefit
ting from several favorable influences. One
Of these was the continued weakness of the
exchange market, which, though somewha,
firrner than yesterday, failed to recover suf-
ficiently to induce the expected further
shipments of gold by tomorrow's steamer.
But the imports of dry goods OF this port
for the week show an increase over last
weeks value of over 100000, Indicating
that the import movement is again expand
ing. with an influence. necessarily. on the
exchange. Chicago Gas. the leader of hte
market in the volume of transactions, was
quite strong on renewed hope Of benefits
from the Illinois legislature. and rose rs
per cent above last nights closing in thte
gnal dealings. There was marked dis
position to cover IN the anthracite coal
stocks, thus eliminating what has been
persistent element Of weakness in recent
markets. The strength manifested by the
grangers, a rise in Sugar and the firmness
of the Gould shares, were other influences
that helped to carry prices very gradually
above last nights level at the Close and
to leave substantial net gains in a few
stocks. National Lead showed strength on
the approval of the lead schedule by the
senate. Baltimore and Ohio rallied slight
ly from yesterdays depression, more than
recovering early decline.
Ranlway bonds were relatively more ac-
tive than share values and a more decided
tendency was evident towards a higher
plane. Fractional gains were noted in the
speculative issues. except for Texas and
Pacific seconds, which. exceptionally, gain
ed a point. American Spirits skies were
marked by decline of 2ls per cent with a
subsequent recovery of per cent. Severe
losses were also recorded in few other In
active liens The sales were s1,195,O00.
Governments showed an improved ten
dency, with the old tours gaining slightly.
The sales were $500.
CHICAGO CLOSING.
Chicago, Ills. May @.-Stocks today
closed as follows: Chicago Gas. s2is: City
Railway, 217: West Chicago. 96Ss; North Oh!
cago, PA; New York Biscuit, ATS; Lake
Street Elevated. 124.
FOREIGN STOCK MARKETS.
New York. May 28.-The Evening Posts
London financial cabelgram says:
The stock markets were steady, but
closed firm, except for Americans. The
settlement in consols is to begin tomorrow. |
Kaffirs, after a period of dizziness, closed !
strong on rumors that the South African
commission viii recommend a reduction N |
the dynamite and railway charges Ameri- |
cans opened dull on the disappointing prices |
from New York. and the tone was weak |
ened further on the belief that the Balti. |
more and Ohio would default on the June |
coupon of two of their bond issues. Prices |
closed at the lowest, but Lake Shore was !
exceptionally good. Money rates are some |
harder because of special requirements to- |
day, allotments of payments having TO be |
made on the new India loan. A South |
Australian loan OF e, 10000 was also large |
ly applied for It is a 3 per cent loan, and |
il went at about "a premium on a MIN
mum issue price of s.. The Japan loan Is |
expected tomorrow. The Paris and Berlin |
markets were steady"
NEW JAPANESE LOAN.
London, Eng, May 2s.-The prospectus |
has been issued fer the new japanese loan |
of 100000 yen (s2l. al $3.50 al per cent,
payable IN gold. The issue price IS 1o1is.
BRADSTREET'S FINANCIAL REVIEW.
New York. May 2s.-Bradstreet's finan- /
cal review tomorrow will say:
Speculation in securit:e. was not only |
somewhat more active this week but the |
market has been broader and prices have |
exhibited an improving tendency. The de-
of the week have apparently
induced a large proportion OF them TO
change from the bull 10 the bear side, while |
there are evidences that large financial In
tercsts are incluined to give renewed sup
port to the market. Europe has not dis
played any very marked increase in Its
absorption OF our stocks. but the Ameri-
can department of the London exchange IS
4 little more active, prices there improving !
In sympathy with the better tone of the
general marset and on favorable comments
in the financial press regarding the better
class of transatlantic railroads. Com
mission house business in Wall street also
shows evidences OF Improvement
The principal basis fer the expectation of
a general expansion IN bus:enss, which is
by the more bunsA tendency in
speculation. is found n TIE developren,I
Of the week al Washington.
Favorable crop reports from the west
have tended TO create a better uinder.one
in the granger stocks, and there have been
evidences OF bullish manipulation IL some
OF them as well as IN other parts OF the LIST
LOANS. EXCHANGE AND BONDS.
New York. Nay S.-Moley on call easy
al 1hGiis per cent: last loan II. per cent,
closed iI6I- per cent Prime mercantile
paper Si3G4 per cent Sterling exchange
frmer with actual business in bankers bills
at si.N for demand. and az si.SSs t-sS for
sixty days: posted rates siSSieG4S. and