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

actions Footing up Enormously as Com
pared With Recent Days-Unexpecte,
: Reporting OF the Tariff Bill in the Sen
ate is a Great Factcr. Besides the Natur,
. New York, Nay l-Several factors com
hiled 20 give strong tone 10 the MARIE
for stocks today and the upward course Of
prices was practically without interruption
of any reactionary tendency all day in very
nearly all OF the standard shares. The day
closed with burst of animation and buoy
ancy of values which has not been equaIled
on the exchange for many weeks TIE
bears were fairly driven into a panic and
rushed peu nell 10 cover. prices jumping
OF the principal stocks also changed hands
IN quick succession for the long account.
The volume Of trading IN the last hour was
very large. especially in Sugar. though the
trading extended pretty generally all
through the active list. The sales OF Su-
gar shares aggregated for the day over !.
OF n total sales, which were 10000 shares.
! a figure in excess OF any days sales for
several weeks. There vas notable activity
also IN Chicago Gas, the grdngers and Yves
tern Union, and the anthracite coal group
was strong, though not quite so conspicu-
GUS in nthe dealings.
| The immediate cause of the buoyancy in
the market was the reporting Of the tariff
bill to the senate. The properties which are
Immediately benefited by the provisions
! OF TIE amended bill led in the advance, but
the reporting OF the bill today was unex-
! pected in Wall street, and the forwardness
! of the work toward its enactment, where
/ delay was counted upon in the committee.
| gave an impetus 20 business in ali securi-
( ties on the list. Sugar naturally derived
/ the greatest benefit from the published pro-
visions CT Thine bill and Tobacco and Leath-
er did not participate in the gains which re-
suited IN other stocks.
But the strength of the market was not
all due 10 the reporting of the tariff bill.
The weakness OF the sterling exchange
market indicated that further shipments OF
gold on Saturday were less probable than
was thought. Demand sterling exchange
was weak at ss7i4 and transactions occur
red at S.S fat. Bankers have not, how
ever. definitely concluded not to ship. The
market also received encouragement at the
opening from the good prices for American
securities IN London, though London sold
some thousands of shares OF stocks here
during the day, which were, however, very
we'll absored
The Gould stocks were made the center
OF the bears efforts to work reaction in
the market, and were depressed. Missouri
Pacific. is per cent; Manhattan. IA. and
Western Union. 3 per cent All rallied.
however. Western Union more than recov-
ering the loss, and the others part Sugar
showed the extreme gain of 3ia per cent.
Thine coalers showed sharp advances. but
there was evidence OF manipulation of the
leaning rate for the stocks 10 pinch the
shorts. Delaware and Hudson and New
Jersey Central rose over two points. and
Reading IL per cent The grangers show
ed gains Of l to IL per cent. the latter in
Burlington. Cotton Oil preferred rose 21a
per cent; Chicago Gas. per cent, the lat
ter after an earlier decline Of z per cent.
aud Canadian Pacific "a per cent Ad-
vances of over a point occurred IN Cotton
OIL, Brooklyn Union Gas, Tennessee Coal
and Iron, Lake Shore and Cleveland, Gin |
cinnati. Chicago and ST. Louis; LeCIede !
Gas broke a point. There were slight re- /
cess;ors from the top In some stocks at 4
the close but the closing was strong and |
the days gains We're generally held and 4
showed marked improvement IN nearly /
every stock dealt in. except as above ex-
ceptsd.
The total sales OF stocks today were 1872
80 shares. including: American Tobacco.
$500; Burlington and Quincy, 13 400; Ameri-
can Sugar, $500; Chicago Gas trust re-
ceiptS. 1850; Delaware and Hudson. 500;
Louisville and Nashville, i50o; Manhattan
Consolidated. $40: Missouri Pacific. $50:
Reading, 1850; 81. Paul. 1920: Tennessee
Coal and Iron. $3.50; Western Union, 70. 800:
New Jersey Central. 1900
Railway bonds also moved up, on large
dealings. Business was fairly well disIrib-
uted. with the market deriving its chief
strength from thhe favorable factors OPP
Grating IN the stock market: The aggregate
sales were s1,l72.ooo
FOREIGN STOCK MARKETS.
London. Eng. May 4-The market for
American securities opened firm and con-
tinued so all day in sympathy with English
stocks. The close was steady with the de-
'nand generally light. Foreign securities
are quoted as follows: Greece. 1854. unchag
ei at 2li2; Turkey, new defense. unchans-
ed AT lo1: group ! "A" unchanged at IS;
group ''B" unchanged al 35ia; group ; CO.
4 lower, at 70; group ID" Is lower az |
1855.
New York. May 4-The Evening Posts
London financial cablegran says:
The stock markets were strong today OF
cheap money, but the close was under the
best. Home rails are booming on the pros
reefs OF great jubilee traffic. A big specu-
ative account is now open Foreigners
we're dull. except Turks. which were good
Mines were better. but copper mines were
TAT The decided drop In London discoun;
-ates today were largely dut 20 the de-
,reased demand for gold. asy money Is an
icipa:ed for the present. the prospect be-
ng that upwards of million sterling VII {
se released tomorrow for the purpose OF
meeting treasury bills. The Far,s ard Be--
II markets were steady. French ard Ge- ,
nan cash balances on London are unusual
y large
LOANS. EXCHANGE AND BONDS
New York, Nay 4-Noney on call drr1sr :
L 119ae per cent: last loan Il. per cent:
ioSsd It-G1,4 per cent: prime mercantile {
'aper "a. per cent; sterling exchange .
: ak with actual business in bankers bits :
Z S.Si. q. s71s for demand. and az 81 go
-ss1> for - days: posted rates 81 ssi-6Is s. {
nd 4 ssf4 ssts: commercial bis s4S14 81.
liver certificates s9-sls,i.; ba- silver 81
:. Government bonds firm; state bonds
MI; railroad bonds firm
RANK CLEARINGS
New York May I-Cisa-.ags f11-5i- 20;
alsnces SO 40 ~ +,
Boston. Mass. May L-Ciea-!ngs s@s5-
$: balances ssl6.s 6
Philadelphia. Pa. May I-Clesr.nzs sl3-
SIS; balances S.s&S4. :
Baltimore. Nd. May L-Cisa-irEz Cus.-
a: balances $3.50.
St LOUIS. No. Nay f-Clezrilss. siE-- c
:: balances 80 -: money 5G7 PEI cent;
,ew York exchange. &C bid: s. sske5