The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-14
STOCKS AND BONDS
NOT 0SE ErrEoTIvE RALLYIEG
POINT IN THE WHOLE DAY.

Decline In Stocks Steady Except Occasional
BoyinE BY Shorts-ooId Shipmeats in
| spite Of IN Exchange Situation Close to
the No Profit Line-Loudon Buys and
Sells, Bot Boys More-Scsar and CHI
/ eago Gas Under Special Pressure
Grangers Succumb Late In the Day
Railroad Bonds Easier.
New York, May 1a-There was not a sin
gle effective raIiying point in today's mar
ket and the only interruption to the sag
sing Of prices was the occasional brief buy
| ing Of shorts in some stocks 10 cover. The
| announcement OF 81 900 90 gold shipment
| by Saturdays steamer in face OF rather
| weak exchange market shows that the Euli,
| Of no profit IS not yet crossed with demand
sterling a: s.s74- The exchange market
stifened 70 some extent Just before the
closing Of trading and further Shipments
Of gold are felt 10 beb not improbable. Al
though this probability was discounted sew
e-al days ago by the selling OF stocks, il
had an effect in depressing values in the
narrow and professional market and in Dis
couraging trading. Although today's sales
were larger than those Of yesterday. there
were no signs OF outside interests, ASIDE
from the large dealing On London account
There was said TO be selling as well as buy
ing for London account during the day,
but the purchases are estimated TO have
exceeded the sales by 1900 Shares fact
20 be considered in connection with the ex-
change situation. The industrials which
were most largely traded in, namely: Sugar
and Chicago Gas. were under special pres
sure and although they were Influenced by
special eauses, the volume Of the transac-
tons il them impaired sympathstic heavi-
ness 10 the general list. The grangers were
quite firmly held in the early trading but
later succumbed and showed decline as
great as the average. The losses were re-
markedly uniform in all the most active
stocks. the decline raining from :. TO *
per cent. the latter in Leather preferred
The total sales OF stocks today were 49,
53s shares. including: American Tobacco.
4.109: American Sugar. 200; Burlington. q.
go; Chicago Gas trust receipts, 10Ioco; st.
Paul. 400: Louisvtll and Nashville, ZOO;
Manhattan consolidate. $3.50; Omaha, $500;
Reading, $500; Rock Island. 500; 81. Paul.
a. go: Tennessee Coal and Iron, L 100; Yves
tern Union. 1850; New Jersey Central 3.ioo.
Railway bonds easei OF on light dealings.
with the rscessions un;mportant IN the lead
ing mortgages. Some marked losses were
scored. however including ST. Louis and
San Francisco trust SIS. which fell per
cent, and Peoria. Decatur apd Evansville
first, IL per cent The aggregate sales
were $4,000.
Government bonds were in demand and
ruled frner on purchases of Sl0ioo.
FOREIGN STOCK MARKETS.
New York. May 13-The Evening Posts
London financial cabIegram says:
The reduction IN the Bank of England
discount rate today 10 . per cent was IN
expected. but the effect on the market wa.
very slight, ss IL leaves, in a sense, less
margin TO go for the rise in stocks. Other
banks and discount houses lowered their
deposit ratios in proportion The settlement
has satisfactorily concluded and the mar
kets were quiet today at some reaction at
the close. Nevertheless. there was a good
undertone with renewed attention TO mines.
Americans were irregular. The tone was
not bad, but the plain fact that. inasmuch
as Americans have practically disappeared
from the public mind as profitable chance
OF speculation a bad Of the very strongest
kind is required before the public viii re-
turn 20 them and without the public no
boom here IS possible. Argentines and Bra
Ills were lower. Reports of a new Chinese
loan OF 15,"5ooo0 are at present discredited
in the best quarters. Details OF the gold
movement for The week show that 5000
pounds came from the Cape. f7.ono pounds
from Australia 500 pounds from Portugal
ard that 5000 pounds in bar gold was sold
The Paris and Berlin markets were firm"
LOANS. EXCHANGE AND BONDS
New York. May l3-Noney on call NOM
irally lhd11. per cent; prime mercantile
paper 31zG4 per cent; sterling exchange
steady with actual business .n bankers bills
a. 81. s7i4 AS 1a for demand and at 81 ssL. 2
$50 for sixty days; posted rates siS and
81 $50; commercial bills 81 So Silver GER
tifcates 500 ounces a. 81 Bar silver as..
Mexican dollars A.. Government bonds
firm; new As registered. 1924; coupon. Ie,s ;
SIS registered and coupon. i13: As register
ed. 110i7; coupon, IL; IS registered. IS:
Pacific SIS OF So I4i..
BANK CLEARINGs
Philadelphia, Pa. May 13-Clea-ings g.
80. ls5; balances s.50s.4S-
Baltimore, Nd. May 13-Clearings s. I4.-
is1: balances $40. 5as-
s.. Louis. Mo-. May l-Clearings A54.-
sds; balances SS5. a17: money 4d7 per cent:
New York exchange % cents BID: s. asked.
TREASURY STATEMENT.
Washington D c. May I3-Today's state
renc OF the condition OF the treasury shows
available cash balance 81. ~. 81; gold re-
serve sl4se4s, t11-
GOLD FOR SHIPMENT.
Y--.
heime- & Co.. VII ship sl.HrSooo IN gold bars
next Saturday. This makes The total OF
the present movement il outgoing gold So