The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-03-10
STOCKS AND BONDS
MANHATTAN FURNISHES THE
FEATURE IN SHARES.

Being Particularly Subject to Influences
Usually Manifestlng Themselves on
Dividend Day. and Scoring . SIS Per
Cent Decline. Which Has . Very Sem
sib.e Enec: on the Market Generally
New Jersey Central Likewise Does
Something in the Milestone Way Mar
ket Closes Weak.
New York, March s-The special feature
OF today's stock market was the varying
movement in the price OF Manhattan, due
TO conflicting reports regarding the action
CT the executive committee on the rate d.
videad 10 be declared. Before the meet
ing of the committee the stock rose 5. per
cent, 10 S5is per cent, apparently on the be-
lief that the regular quarterly dividend o.
Ia per cent would be declared. The an
rouncement that the rates had been re-
duced to per cent caused a fall 10 81 per
cent. There was a rally. followed by re-
newed decline TO S. per cent, the close be-
ing at $50 PEI cert. or net decline for the
day Of ia per cent. The fall in price was
sufficient 10 exert decided influence on a
market which was largely confined 10 pro-
fessional operations. Another decided dras
on the market was the continued liqu,da
ton in New Jersey Central. which has co.,
tinued ever since the publication showing
that the Lehigh and Wilkesbarre Coal COM
pary had not been earning its fixed charge.
Although the price of New Jersey Central
rose "a per cent in the early dealings, i,
broke per cent, thus exerting an unfav,
ora "a t-E .hA -lrar ri
tributing to the general fall IN prices. The
Manhattan decline was reflected sympa-
th.tically in the price of Western Union.
in spite Of the decision to declare the usual
quartely dividend OF IL per cent, and in Mis-
souri, Pacific. which had also the unfavor-
able annual report to contend against. Tho
anthracite coal group also dropped. in SYM
patty with New Jersey Central. before the
announcement OF the agreement by which
the control OF the Leh:gh Valley passes to
the banking interests which already enjoy
the financial direction of the other anthra-
cite coalers. This has been attained by th<
funding of the Indebtedness of the Packe:
estate and the exercise of the voting power
Of the stock OF the railroad held by the
estate in return. New Jersey Central re-
covered on the announcement OF this opera
ton, the gain being IL per cent Besides
these specific centers of depression in the
market. the industrials suffered to some ex
tent from the recommendations contained
in the report OF the executive committee 10
investigate trusts. which was presented a;
Albany. Sugar lost a point Consolidated
Gas also went down pa per cent and Ten
nessee Coal ard Iron was depressed IL pei
cent on an unfavorable Interpretation OF
the annual report. The news of h:stilities
in Crete and the doubt of the actual accord
Of the powers as TO measures for their sup
preston awakened renewed uneasines hers
and was conclusive in effecting the down
ward course of prices. There seemed TO BIZ
good inquiry developing at one time dur
ing the day for railways, Illinois Central
leading an advance, with raise OF point
on the showing of an increase i'll net earn
ings for January, though at the expense o.
heavily reduced expenditures and a materi-
al increase In gross earning for February.
The Vanderbilts and grangers were favor
ably affected also and advanced fract.on1
Of the active stocks Pullman, Lake Shore
and New Haven each advanced l per cen;
and Cotton Oh preferred and ST. Paul and
Duluth each gained per cent. The former
subsequently reacted l per cent. Tobacco
also displayed a notable activity end rose
IA per cent on rumors of proposed acton
by the company regarding its stock scrip.
The subsequent reaction was l point. Tht
depressing causes above enumerated null
fed the Improvement and the final dealings
showed a weak market. with slight frac-
tional recoveries at the close. Louisville
and Nashville. the special barometer of tn.
London market. was the most depressed
OF any of the railway list.
The bond market lacked feature. but the
prices were generally shade higher. The
GALES were s1.125.oco
Government bonds were in demand and
hardened especially on purchases OF $4,000.
FOREIGN STOCK MARKETS
New York, March s.-The Evening Posts
London financial cablegram says:
The stock market opened firm today but
stagnation soon followed. and the close was
dull Consols were !. per cent lower on
balance and other things dropped in sym
patty, Brazils were fat on revolutionary
news. Americans were steady. Mines clos
ed dull; the account to be arranged today
is practically nothing. The question OF q
renewal OF gold exports from the United
States is discussed here. The Paris anc
Berlin markets were steady"
LOANS AND EXCHANGE.
New York, Mrch e-Money on call easy
at 1I46lz. per cent: last loan Ia per cent,
closed offered 1i4a2 per cent; prime mer-
camille paper sq4 per cent; sterling ex-
change steady with actual business in bank
ers bills at sis7l. d4s1z for demand. and
4sIz94ssx for sixty days: posted rates
a. ssi4 ssi1 and 81 ssQ4ss17 commercial bills |
81 s4Ia; silver certificates So. as; bar silver
s3s.. Government bonds strong; state bonds |
dull: railroad bonds firm.
BANK CLEARINGSs.
New York. March 9.-Clea.ings so. IL. sse;
balances S,Ss3.o72
Boston, Mass, March 9-Ciearings SIS. |
se7, I25: balances sl.417.N.
Philadelphia, Pa, March s.-Clearings 30. |
~, O2s; balances sl.5ie.3s2-
Baltimore. Md. March a.-Clearings 81,
IS. $50; balances si3l,o75.
S.. Louis. No, March e-Clearin.s y ST.
rs; balances s72s.0se Money steady a. ! /
FER cent; New York exchange . cents bid. J
par asked.
TREASURY STATEMENT.
Washington March s-Today's staIensr. \
d the condition OF the treasury show. l
Available cash balance 81. IS. sss; gold re-
serve SI50sg.oSL