The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-09
STOCKS AND BONDS
TOBACCO SHARES FURNISH THE
FEATURE OF THE DAY.

FEATURE OF THE Day.
Point, a Heavy Buying Movement Sets
in About Delivery Hour Which Puts the
Price up g 7-8 Per Cent-Movement Due
to Reports That Antitrust Suits and
Antitrust Investigations are Falling to
Ante After aI-Strong Showings in Rail-
roads-Bonds Doll.
| New York. March s.-The most notable
| feature of today's market was the sudden
activity in the shares of TIE Tobacco COM
l;any in the last hours trading. The stock
/ had been influenced by the depression ex-
/ sting in other shares after the opening and
had fallen point. But about delivery hour
I a heavy buying movement developed for
/ the stock, and It quickly regained the loss
and more, rising 27s per cent, to as per
cent. The fraction was lost in reaction.
There was a report that the New Jersey
suit TO annul the charter of the company
had beeen decided in the company's favor.
| A rumor originating at Albany was also in
! circulation that the forthcoming report OF
| the legislative trust investigation commit
| tee did not contain anything that would
| threaten harm 10 the company. l. was
| believed by some, also that inside interests
| were ginving the shorts a squeeze IN return
| for some successful efforts recently 10 de-
! preciate the value of the stock. There were
1900 shares dealt in, which was almost
| tive the number OF any other one stock.
| The general conditions ali seemed favor
| able for buoyant market throughout. The
| tone impaired 10 the opening by the Lon
| don market was distictly favorable, Amcri-
! cans being higher, there, and there was
| buying for London account here during the
| day. Louisville and Nashville, which has
| beeen notably depressed recently N sym
! pathy with the London market, gained rs
! per cent. New York Central continued its
! strong showing on the statement Of its
, gross earning, the largest since 1892. Omaha
! also was no rs per cent There was ces-
! sation of the special activity IN the Van
! derb!lt shares, however which marked the
dealings Of last week. The grangers show
ed strength and good resisting power to the
/ latter depression in the market, being aid
cd by good commission house buying, and
by the report of an increase in the east
bound tonnage. The depression was caused
! by the special weakness shown by Man
! haitian. Much doubt was felt as to the
! action TO be taken by the directors at their
meeting tomorrow on the dividend rate.
, The price dropped 29s per cent, to s412 per
cent, and rallied only feebly. New Jersey
Central was also largely sold on the re-
| cennt public statements of the earnings of
its subsidiary coal company. The price fell
off per cent. Sugar also manifested some
signs of depression, due to doubts as to
the amount of production which would be
accorded to refined sugar under the new
tariff. There was also fall in the price
of Sugar itself. The general list respond
ed to the influence of these stocks, though
not in any marked degree. New Jersey
Central rallied in the afternoon IL per cent.
carrying with It toher coalers. The proceed
ings during a part Of the day were intense
~ dull, the fluctuations in values being ex
tremely narrow. The buying of tobacco
shares impaired strength TO the whole mar
ket, so that the close was strong and sharp
gains were shown in the railway shares.
The total sales Of stocks today We're 49,
SCI shares, including: American Tobacco,
-, 400; Rurlingto 1850; Chicago Gas trust
receipts $780, Louisville and Nashville, g.,
so; Manhattan. 14,S72; New York Central.
2400; Reading, 1900; st. Paul, 1900; New
Jersey Central Il, 800; silver certificates, g.
co.,
Dulness was the chief characteristic OF
the bond market, but firmness was gener-
ally apparent on narrow IlucludIlOIiS.
Governments vera neglected but gener-
ally firm. Silver certificates were dealt in
at slight concessions, after long neglect.
FOREIGN STOCK MARKETS.
New York, March S.-The Evening Posts
London financial cablegram:
Nothing is doing in the stock markets,
pending Greece's definite reply to the pow
ers, and course of prices merely reflected
local opinion on the situation. That this
at the moment is favorable may be gather
ed from the rise of rs per cent IN consols,
and the material gains in all the leading
securities. Turkish securities were especial
ly good Although, of course, politics IS
the theme of the hour, il must not be sup
posed that the markets bear even the very
slightest semblance TO a panic. Briefly put,
London has made up its mind that the
powers want peace. Germany is supposed
to be the only power really wishing to ap-
ply immediate and excessive coercion TO
Greece. Japan continues 10 absorb all the
arrivals of gold other than sovereigns. Sill
Yer IS demoralized by Japan's abandon
ment of the silver standard. Braz.lians were
exceptionally fiat on unfavorable reports
of that country's finances, and on the fur
Their fall in exchange. The Berlin market
was steady. The Paris bourse was better.
the settlements having only forced one fail
ure.'
LOANS AND EXCHANGE.
New York. March S.-Money on call nom
inally 1I@G13. per cent: prime mercantile
paper SG4 per cent; sterling exchange dull,
with actual business IN bankers bills at
SS714Gi S7Ia for demand and AS5iel4. S534
for sixty days; posted rates si.S6di.56i2 and
s4sS no sales: bar silver 500; Mexican dol
lars 4994 State bonds dull; railroad bonds
firm: government bonds firm; new fours
registered and coupon 1874; new fours reg
istared and coupon IA; four registered III;
fours coupon rs: twos registered $50; Pa
cihc SKIES of '9S, 1857
BANK CLEARINGS.
Philadelphia. Pa, March S.-Clearings S.
40, 933: balances s1,042,TI3
Baltimore, Md, March S.-Clearinss 81
999, 935: balances s2So,4s5.
St Louis Mo- March S-Clearings $50
no: balances S455,5SS. New York exchange
. cents discount bid; par bid; money 5a7
per cent.
TREASURY STATEMENT.
Washirg ton March S-Today's sctateren:
OF the condition OF the treasury shows:
Available cash balance s212, 245. G2i; gold re-
serve S150, 500, 7S3
GOLFER AND SUGAR MARKETS