The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-05


From the Tariff Side, Too-Deciine in
RniIways-Bonds Active Governments
Heavy-BanlS of England's Rate
New York, Feb. 4.-The stock market
lacked strength today, and showed a de-
cded tendency to sag, in spite Of some
seemingly very favorable factors in the
outlook. The weak spot was clearly in
the industrial group. but the effect, through
sympathy on the rest OF the list, was suf-
ficient 10 neutraize the encouraging In
fiuences, and as result the market clos
ed on a plane fraction lower than last
nights closing. Sugar was the center of
attack Cor the decline. being subjected to
nearly all the unfavorable influences OF
the day. One OF these was the apprehen-
sion of action directed against the trusts
in some of the states that have recently
adopted antitrust legislation. This inhu-
ence was manifested not only in the case
of Sugar, but also, in a degree, IN Leather
preferred, which declined IL per cent on
transactions asgregating 1850 shares. The
dullness in the trade also had its effect
on this stock. National Lead shared with
Suagr this influence and lost rs per cent,
while Tobacco lost a sharp fraction, but
made a full recovery toward the close.
Chicago Gas was one Of the sufferers from
fears of adverse action by legislatures and
fell off rs per cent on account of bill in
the Illinois legislature to FIX the price of
gas at 60 cents. Sugar was also the VIC
tim of the special apprehension of adverse
changes in the impending new tariff and
was bombarded persistently by the leading
bears. There was a lack OF supporting
orders from interests which are usually
conspicuously active in this stock. AS a
result, there was heavy dealing in this
Stock and the price ran down 21s per cent,
to 114la per cent. The offerings included
some very large blocks Of stocks. This was
the decisive influence IN checking the hard
ening tendency with which the market op-
;ened and which was due largely to the
fact that the Bank of England and reduced
its rate of discount to per cent The de-
layed statement Of the Burlington for De-
cember proved 10 have been more favor
able than had been counted upon by the
doubters. showing an increase in the sur
plus of earnings. after charges, of s669, 752.
This also proved without effect in saving
the market from decline, though early
ton and served to steady the market. The
dealings in Burlington footed up over 49,
COO shares. and after rising and then fall
ing, IL closed with net decline of e per
cent. The railway list in general dropped
in sympathy with the decline in industr;als,
and partly also on account of the rather un
favorable traffic statements from the last
week and month of January. The list sue
cumbed to depression and sank a the close
to the lowest prices of the day. The un-
favorable statement of New Jersey Central,
showing a decrease in surplus earnings OF
Si32, O23, caused that stock TO sell down IL
per cent, and had depressing effect on
the group of anthracite coal roads. The
Northern Pacific and Union Pacific stocks
showed comparative firmness. but dealings
were largely reduced over those of yester-
day. London selling was additional in
f1uence on the decline in railway shares,
which, though general, was only fractional.
The total sales of stocks today We're 1885,
521 shares, including: American Tobacco,
800; American Sugar, 34,6o0; Burlington,
1850; Chicago Gas, 800; Louisville and
Nashville 5000; Northern aPcific. 1000; ST.
Panl, $500; Northern aPcific preferred, s.
100; Union aPcific, $780,
The bond market ruled active and general
ly higher The Northern Pacific issues were
the feature. Large blocks of these securi-
ties were dealt in, with the inquiry very
pronounced from the arbitrage houses The
improvements in the general market were
mainly fractional, but sharp concessions
were scored in few OF the inactive lines.
The sales were 1880
Government bonds continue heavy on pro-
fit-taking, with the dealings centered in the
al
FOREIGN STOCK MARKETS.
New York, Feb. 4.-The Evening Posts
London financial cablegram says:
THE change in the bank rate from 31k
to 3 per cent had no effect on the stock
markets today, The tone was rather dull.
The bulls were taking profit, the change
in rate being what they went in for. Hence
consols were a shade lower. Katfirs were
weaker on the political outlook. Americans
were good, with an extensive buying of
bonds and shares, but the close was a frac-
ton under the best. In Paris the market
was weak and in Berlin steady"
London, Eng, Feg. 4.-Closing: Consois
for money 1l3 3-l6; for the account 113 5-ls;
Canadian Pacific 57s4; Ere 15ls; Erie Sec
onds, 36A; Illinois Central s7i4: Mexican
ordinary 10; St. Paul common 1855; New
York Central 95l.; Pennsylvania 535s; Read
ing 1875: Mexican Central new is Il; Atch-
ison 15a4; bar silver 292.d per ounce; money
i per cent; the rate OF discount in the open
market for short and three months bills
! 3-ls63s per cent. American eagles are
quoted at 76s5d. Gold IS quoted at Buenos
Ayres today at 191; Lisbon 42i2; Rome 1os.
e2ie. The amount OF bullion withdrawn
from the Bank OF England on balance to-
day was $4,000
Paris, France, Feb. l.-Three per cent
rentes l03 francs Is confines for the ac-
count; exchange on London 20 francs 1s
centimes for checks.
Berlin, Germany. Feb. 4-Exvhange on
London eight days sight 20 marks 0i2 pfen
niGs.
LOANS AND EXCHANGE.
New York, Feb. 4-Money on call easy
et1i2d2 per cent: last loan ia per cent.
closed offered at 1lza2 per cent; prime mer
camille paper SG4 per cent. Sterling ex-
change steady with actual business in bank
ers bills at 1855. a. ssh for demand and
S4slisG4Sis1 for 50 days; potesd rates 81. s.
Gi&is. and s4S7lkd4Ss; commercial bills.
S4.SSj.; silver certificates e4'sG55it: bar sii-
yer ga; government bonds weak; state
bonds dull: railroad bonds firm
BANK CLEARINGS.
New York. Feb. 4.-Clearings. SOS, i5o. AZ;
balances, s.. 50, is7.
Boston. Mass, Feb. l-Clearings, sl5.eis-
81; balances. sl.143,s2
Philadelphia. Pa. Feb. 4-Ciearings. S.
S7.05: balances, sl,s9.sS9,
Baltimore Md. Feb. 4--Clearings, S07i,-
.SS: balances, sS19, 10.
St Louis, No Feb. 4-ClearinSs. 81 So
0lS; balances 81 Si.s22: money steady a 81
per cent; New York exchaonge par bid;
. cents discount asked.
TREASURY STATEMENT
Washington D. C. Feb. 4.-Tolsy's state
ment OF the condition Of the treasury
shows: Available cash balance ST., 9SS. Cos;
gold reserve sl45l4.esS