The Wichita daily eagle., 1897-06-16
STOCKS AND BONDS
UPWARD H0vEMEHT OF STOCKS
MEETS WITH A CHECK.

Earlier Gains Oblitsrstsd and Some I'm
portsat Shares Finish mp Below Mon
days sClose-Eeacsionary Feeling Based
on the Geaeral Principle That Advssees
Can't Last Always and Thus Holders
Bring on At Once What They Only An.
ticipate - London's DuIiness Reaches
Across the Water.
New York. June 15.-The upward progress
OF prices was brought to halt during the
progress of trading today on the stock ex-
change and earlier gains were wiped out,
leaving some, important stocks below last
nights close. There was no very obvious
reason for the reaction beyond the general
principle that reaction is always bound TO
come after an advance. The long continu-
ed steadiness and frrnness of the market
have inclined the professional traders to
count more confidently upon reaction, on
the principle that the longer it is deiayer
the greater the remaining certainty that it
Will come. This element worked for the
reaction by raid.ng special stocks and help
ed to influence the more cautious to take
profits under feeling not to overdo good
fortune. While prices were at times very
materilly above last nights close. the lat
ter recessioEs brought prices OF the majori-
ty Of stocks back to slightly above or below
last night. The prevailing dullness in the
London market owing 10 the jubilee festivi-
ties had its effect on this market. arb.trage
operations being much restricted. Per-
haps this fact lessened the effect of the
death Of the Kaffir King. the immediate
group Of securities with which he was asso-
ciated showing no noticeable effect. Some
sentimental effect was nevertheless pro-
duced IN this market. The announcement
OF a shipment of 100000 in gold by Thurs
days steamer was coupled with the an
nouncement that none Of il would be with
drawn from the sub-treasury. The ship
ment nevertheless had its effect in selling
off the market. The May trade statement
shows that. notwithstanding an increase Of
over sl1, 10000 In the merchandise exports
over those of year ago. the imports in
creased over s22, ,0C0 coo, the excess of i'm
ports in April In anticipation of the tariff
changes are IS, i57, 136 pounds of raw wool.
against only about 12.000 0O0 pounds for the
same period last year and 74O.ll4.045 pounds
OF raw sugar, against 369.5l0.066 for April
of last year. These heavy balances are
probably still unsettled for the most part.
and are bound to affect the exchange situa-
ton for some time 10 come. On the other
hand, the weeks exports from New York
show an increase of $, 902, ,9S5 over last week
and London continues to buy stocks in this
market, though in varying amounts. which
IS true also of the sales. Sugar. Burling-
ton, st. Paul and Chicago Gas, in the order
NJ, hale Of ~, stp
showing much narrower reange OF specu-
lation than for some time. Sugar ranged
over points, but closed with a loss OF 4
per cent The majority of stocks show a
fractional net gain. New Jersey Central
being the most marked exception. This
stock fell 21s per cent from this with a
loss Of rs per cent net.
The bond market continued to exhibit
decided degree of strength, which was more
manifest in the inactive securities. Trad
ing diminished considerably from yester-
days total of transactions, but there was
no abatement Of the aggressive strength
that characterized the speculation for some
weeks. The low-priced international liens
moved very narrowly. with late profit-ta
ing tending to eradicate sharp gains in
few mortgages. The transactions were ST.
g1,oO
slight gains IN the new As. The transac-
tons were $50 CO.,
FOREIGN STOCK MARKETS.
New York. June 1.-THE Evening Posts
Londonfinancial cabiegram says:
THE markets were irregular today.
Americans being the feature. There was
a sharp rise in that market. and good buy
ing. but the close was under the best. The
feeling as to Americans Is still hopeful. but
there Is disposition TO take quick profits.
kairs were fiat on Barna:o's death. but the
close was above the worst except in Paris,
where Barnato specialties are numerous
The belief Is that that market will not be
greatly affected. especially as learn from
good quarters that all his securities were
held in the name OF the firm, Barnato Bros |
and not in his own name. When the las, |
state loan was issued here It was common |
ly reported that Barnato had taken an enor |
nous block I now learn that the report |
was substantially correct. but the stock was |
not held in his own name. but In the name |
OF the firm. Consequently, and inasmuch |
as good reports say that his will merely |
provides annuities for his family. It is be- |
lieved that no immediate forced liquidation |
will be necessary. The Paris bourse was |
steady. and the Berlin market finn"
LOANS. EXCHANGE AND BONDS.
New York. June 15.-Money on call norn,n-
ally at 14iis per cent; prime mercantile |
paper 3Q4 per cent: sterling exchange duh !
and steady. with actual business In bankers |
bills az s4S for demand and at a. s5a4T4 ss |
for sixty days; posted rates 81 SsiLd4s7 and |
;.Ss; commercial bills ASH. Silver certif- |
Gates 60isQ5eas: bar silver So:h Mexican |
dollars 4Th. Government bonds strong, new
fours registered, 1sj: coupon, u: fives reg
stered. 113; coupon. Il3: fours registered, |
III: coupon, 1i3; twos registered, s.; Pacific /
skies of '9S, lo1iz.
TREASURY STATEMENT
Washington. d. C.. June B.-roday's |
statement of the condition OF the treasury |
shows: Available cash balance 81, L. 81:
gold reserve s1A. .3i2.5o3.
GOLD SHIPMENTS.
New Yor, June la-Lazard Freres today
announced that they will ship s5oa.Sc in
gold 10 Europe by Thursdays steamer The
gold vas obtained from private sources.
hone being obtained in the sub-treasury
The gold reserve OF the clearing house
vas increased 20 S5.iSaco today. when |
hree banks. members of the association.
deposited $4,000 IN gold in is valuts in cx-
.haage for certificates.
COFFEE AND SUGAR MARKETS