The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-25
STOCKS AND BONDS
STOCK MARKET RALLIES on
SUPREME COURT DECISIONS.

cision II the Intsrstate Commerce Casss
II All for the Good OF Prices and the
Market Closes Strong and Buoysns at
Generally Top Prices - London Dull
Large Gold Withdrawals for Export.
New York, May ei-Today's rally On the
stock market was attributed to the de-
state commerce case. TIE market had de-
rived strength last week on rumors regard
ing this decision but II sold on again this
morning before the decision was announc-
ed on account OF doubt being thrown upon
the reliability OF last weeks information.
In all the early dealings the hand OF the
professional trader was plainly evident The
morning was gwen over to depression on
account Of reports that the Nebraska maxi
mum freight rate case would not be dec.c-
ed by ythe supreme court until fall, tbs
decision in the interstate commerce case
being also in doubt. IL is an Illustration
OF the consistency Of the professional trad
ers working for short turn n the marke.
that In the upward movement that result
ed upon the decision Of the interstate COM
merce case. the postponement OF the Ne
braska case was Offered as bull argument
on the ground that the lower courts In
junction stands and will stand until the de.
cis;on OF the court in October. II is also
pointed out that the special session of the
Nebraska legislature to correct the law
which was in contemplation IN the even,
OF It's validity being denied will not be con-
vened.
The gold shipments announced for tomor-
row, amounting TO S240o.C00, also had de-
pressing influence In the early trading the
shipments exceeding considerably what
had been anticipated. There was also
news OF further shipments in contemplation
for later in the week. Sensitiveness was
shown by the exchange market. but the
offer OF bills against the gold offset 20 some
extent the bad effect of the export. Lower
prices in London also had its influence on
the carly heaviness and the renewed at
, tack on New Jersey Central affected the
market to some extent.
Quite an unwonted decrease OF buoyancy
and animation was impaired to the market
by the supreme courts interstate COM
merce decision. This is regarded as the
most important decision in its effect on rail
road values since the trans-Missouri de-
c-sion. Part OF the strength impaired 10
railroad stocks by this decision is due 10
| belief that IL VIII serve to hasten the en-
actment OF law by congressto authorize
pooling, with the required approval Of the
Interstate commerce commission OF any
such agreement TO make il binding The
early heaviness had carried down pretty
much the whole market, the decline extend
ing to IA per cent in Burlington. which
was the leader of the market IN point OF
activity. This stock also derived the great
est benefit from the rally. the gain being
2la per cent. The following stocks also
rose point or more from the earlier low
point: Atchison preferred. Cincinnati. Gle
vsland. Chicago and ST. Louis; st. Paul,
Rock Island. Omaha, Lake Shore. Louis
Vile and Nashville. Manhattan. Northern
Pacific preferred. Norfolk and Western
preferred, Western Union, Leather prefer
red. Sugar. Tobacco and General Electric.
New Jersey Central declined IL per cent
in the early depression, but gained 80 per
cent on a covering movement, Delaware
and Hudson rising IA per cent in sympathy
American Spirits lost IL per cent on the
day. Chicago Gas was quite erratic. bu,
gained sharp net fraction. The closing
was strong and buoyant and generally a,
top prices.
The total sales Of stocks today were 100
SIG shares, Including: American Sugar. s.
100: Burlington and Quincy, $500; Manha;-
ferred. $500; Omaha 800: Rock Island. s.
s00 ST. aPul. 201oo; Western Union. $500;
New Jersey Central. 2. 400.
The bond market ruled moderately active
tional limits. with Atchison adjustment IS
conspicuous for gain OF per cent. The
sales were $4,000.
Government bonds were dull but showed
decided strength in the late dealings.
FOREIGN STOCK MARKETS.
New York. May 24-The Evening Posts
London financial cableEram says:
THE stock markets were duh today on
realizations before the settlement. Mines
were lower because the bsar ciemer. at he
settlement is less prominent than had been
expected. Contagoes were higher. After a
sharp setback. prices closed firm. though
lower for the day. Americans were frmer
until the New York prices were received.
when dizziness followed. About fcJotU or
gold from the Cape sold today was bought
for Russia. The Paris and Berlin markets
were quiet and steady
LOANS, EXCHANGE AND BONDS.
New York. May 2i.-Money on call NOM
inally ldlis per cent Prime mercan;!le
paper 3Izd4 per cent. Sterling exchange
higher with actual business In bankekrs
biA4> al Ss.ot4f-sf-s AOi QrHIdAls al - y,
T4si. for sixty days. Posted rates As7d
As and assii Commercial bills Ass Sill
yer certificates So4dHs- Bar silver SOL:
Mexican dollars E%- Government bonds
firm; new tours registered i22i4. new fours
coupon i22i5; hvcs registered III: hves cou-
pon 1l3: fours registered 1los; fours coupon
ii2: twos registered Q; aPc.nc SKIES OF IS
lois-
BANK CLEARINCS
New York. May 2A-Cearings ss9.sE775;
balances s4ses.sl3.
Boston. Mass. May 4-CIearsngs sli.tts.
81: balances Sl.495.742
Baltimore. Nd. May 2L-Cl.srinss s.I7o.-
i15: balances t15o.ig
Philadelphia. Pa. May A-Clearings g.
3f3 81: balances Si.is7.s15
81. Louis. Mo. May .4-Clearngs As.s-
81: balances SO. c8l: money 417 per cent.
New York exchange - cents bid. % csnts
asked.
TREASURY STATEMENT.
Washington. y. C. May el-To5ay's
shows: Available cash balance ST. is4 Sc:
gold reserve siA.7oist2
GOLD WITHDRAWALS.
Washington. D. c. May 2f.-The treasury
department At Il o'clock today received a
telegram from New York stating that MO-
90 IN gold coin had been .ft5trsx- from
the sub-:rezsury for export. also that s. -
oce IN gold had been Obtained from the bank
making the total shipments for tomorrow
8 Epa6G.
New York. May .l-Cs Tire total sroun:
OF soii s,fo.ro. 70 be shipped 20 Europe
tomorrow. 3 zeV,o was obtained b the
shippers from private sources and va con-
seqrentiy not Withdrawn fron fhe sub.-ez.