The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-01

Great Request-susar Quiet-south
western and Changers Lag-week Re
viewed, Showing tho Effects of tn
Grain Crop Situation and Movement.
New York, July 3l.-Trading was inclined
TO be errat;c in todays market, openin,
with some improvements iow-pr:ced stock
bang in special demand. 1t became irres
ular and standard securities eased off som,
on realizations, closing with irregular frac
uonal changes either way The Londor
stock exchange being closed today, as wei
as Monday, arbitrage brokers did nothing
in this morket. Northern Pacific sacuri.
ties continued in heavy demand, with the
preferred rising rs per cent, 1t being large
iy bought by a house regarded as repre-
sentng important speculative interests
sugar was quiet, and the grangers and
osuthwesterns rather Jagged. Some room
traders sold grangers because Of the slack
cred demand for those shares or vague
stories Of crop damage. These shares were
purchased on down scale closed about
unchanged, as did wheat after its early
morning advance. Reading issues were at
tackled late in the day, the preferred yield
ing rs per cent, with a final rally of 13s
per cent The decline was credited to IL
quldat.on- Chicago Gas gained nearly a
point, which, according to its friends, was
based on the expected declaration of a
quarterly dividend next week. The prin-
opal changes of point or more were:
lecl!nes-Northwest preferred, per cent;
Flint and Pere Marquette Minneapolis and
st Louis second preferred and Rubber pre-
ferred, per cent. Advances: Detroit Gas.
per cent; Erie Telegraph, Northern Pacific
preferred, Chicago Indianapolis and Louis
vile. per cent.
The total sales Of stocks today were 1872
$50 shares, insluding: Atchison preferred,
4,5oo; Chesapeake and Ohio, 1885; Chicago
end Eastern Illinois. 4e4o; North American,
GH0; Missouri Pacific, s,S04; Missouri Pa
c.fic preferred, 1856; Reading 1888; ST.
Paul. 800; Chicago Gas, 500; Colorado
Fuel and Iron preferred, u, 116; Standard
Rope and Irvine, 1861; Chicago Great Yves
tern, sou
THE WEEK REVIEWED.
The stock market had advanced so long,
PARTLY In anticipation of settlement of the
tariff, that the enactment thereof had no
eppreciable effect at the beginning of the
Week. Stocks were irregular, but many
issues were made on a constant increase
in public interest, the rise Of 3 cents a
bushel in the price Of wheat, and the enor-
nous daily average. nearly million BUSH
els. Of wheat engaged for export. A IA
vorable feature was the falling off of about
a quarter of a million IN the imports and
commercial agency reviews, showing in
creased business with western tobbers COM
res u-ith Ia cS o-5 tb.t
northern city reported improvement in busi-
ress. The total transactions for the week
were, in bonds. the largest in the last two
gears. at advancing prices. UnfavorabIe
features were the tagging Of the iron mar
ket behind the improvement noticed else
where, and the closing Of many cotton
mills, and especially the export OF about
s4.o0n.00 gold.
Government bonds reflected the public
confidence. in making top-price records,
while stocks and bonds long neglected were
active al higher figures, notably those of |
south and southwestern railways, owing TO |
present crop estimates and already improv-
Tag traffic. Altogether the market was |
broad and many records were reported |
Reports OF earnings. both weekly and |
monthly. gross and net, We're generally |
pleasing, regardless of the existence OF the |
great bituminous coal strike.
The early weeks markets were fairly well |
supported by commission house buying, |
but professional selling at times brought /
the quotations to lower plane. Sugar and |
Tobacco were hammered fiercely, the form !
sr ultimately registering an extreme loss OF
az per cent. of which was recovered per |
cent in the subsequent dealings. Tobacco /
gained Il, per cent. after being alternately
nj nd
wh:ms of the manipulators OF this special
~.
The Industrial group generally was less
prominent in the dealings, the activity OF
the traders beng centered in the railways |
and usually dormant specialties. The scope
OF the market was apparently extended on
Wednesday, and a brisk purchasing move
ment embracing an extensive variety of
shares ensued- The prominence of GER
tain shares gave rise TO reports that a
nance values. This received immediate
credence and stimulated heavy covering
by the shorts Late crop advices were
more reassur.ng. Rumors OF q possible re-
of dividends on cettain interna-
tolally listed properties caused London to
heavily of foreign favorites
and take round amounts Of speculative
mortgages. The anthracite coalers moved
spasmodically, but displayed considerable
strength on revived reports OF impending
deals and excellent trade prospects.
The feature of the silver market was the
fan n bars. &c 6-IS cents N Londn on We'd
-esday. and a corresponding fall to 57ss
cents here. with Mexican dollars down TO
- cents, all low-pr:ce records for the white
metal On covering OF shorts in London.
there was partial recovery in the silver
market. which subsequently slumped. clos
ng ii 577s cents for bars. and 45I. cents for /,
Mexican dollars.
Money on call was loaned generally at I
Der cent. with some few transactions at i. ,
YER cent, and small amounts al per cent.
The supply OF time money exceeded the de-
and. but the few transactions reported :
we're ~ unchanged quotations. The sterI-
1g exchange market was steady and war ,
anted the shipment OF about 100000 in
odd. a portion of which was covered by ,
ales Of bills in the open market There :
vas also an export OF 10000 gold 10 Cana
IA. The continent continues disposed 10
IMPORT gold. which woes largely into the
Sank of France. Actual business IN bank
rs bills closed at 81 S7ss for demand. and s
ST.. for sixty days.
The changes of points ana over for the
ieek show twenty advances compared {
-.th eight stocks showing losses. The ad- :
ances were: Consolidated Gas. 81. per
snt; Chicago and Alton, per cent; Lake
RE and Western preferred. So per cent:
Iob.le and Ohio. 81 per cent; Northern
acific preferred. SIS per cent: Oregon Navi
alton. per cent: Omaha preferred per
ant: Oregon Navigation preferred. -. per
at: Rubber. IS. per cent; Rubber prefer :,
d. per cent: Western Gas. 81 per cent: a
;chison preferred. Cotton OIL preferred. L