The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-08


the Crop Prospect. aud Sugar. on Tues.
day. Senate Votes, Being the Leading
Influences to That End - Volume OF
Trading 1t the Minimum of Ssvera
Weeks Except Tuesday - Bonds Tend
Upward, But Gains are Slight. as . Rule
-Amsricans Close Firm in London.
New York, July 7.-Today's market for
securities showed the most notable advan-
ces In prices that have occurred since a
week ago last Monday, the day of the
bulge" which was looked upon as mark
ing the elimination Of the upward move
ment But, whereas the sales of that day
reached an aggregate Of over 800, 900 shares,
today's total sales fell below 1906 shares
which is the minimum for many weeks, ex-
cept yesterday. The market was IN the
last degree professional, and reflected no
widespread public sentiment regarding the
outlook for values and probably no we'll
defned or competent private sentiment. The
professional traders ever-present desire to
see prices move was about the only mo-
y.
The short selling of the last few days had
had so little effect in bringing out large
offerings of stock that timidity overcame
the shorts where the rise attained only
small proportions, and the measures they
took TO cover losses helped the rse. The
OUTSIDE pubic took no part IN the market,
the commission house orders having drop
ped practically to Nil. London dealers also
continued their distrustful attitude toward
American securities, and sold down prices
OF the railroad shers dealt IN on both ex-
changes. 1t was not until after the London
exchange had ceased trading for the day
that any strength appeared In this market.
The local security dealers have accepted as
demonstrated fact that foregn capitalists
re not yet ready 10 buy American secur-
ties, as It was hoped they would do when
improving conditions and rising market
formed an attraction. The rise in prices
here was simply invited by foreigners to
take profits. Estimates Of the number Of
shares now crossing the Atlantic for deliv-
cry to purchasers here run as high as sc, 600.
4 large part OF which are sad to be OF 81;
Pail. This stock absorbed one-flfth OF ali
he dealings on the exchange today. London ,
selling depressed half easily, but It re-
covered buoyantly and closed with a ne.
gain CT rs per cent. The strength in this |
stock and in Sugar had an important bear |
ng on the movement of the whole market. |
The prospects for crops and increased earn |
ngs was the argument for the advance in !
he railways St. Paul touched $40 per |
ent, which carries II above last weeks |
Use again. Sugar enjoyed the benefit of |
esterdays vote in the senate, and the pros
ects Of the early enactment of the tariff
Ill. Its net gain was 1% per cent. The
nthracite stocks were bought on the belief |.
hat the prolongation of the strike Of soft /
GAL miners would help the anthracite bust
ess Manhattan was a marked exception
D the general strength, and lost a point.
few other shares lost fractions. but gains
'ere the rule, and these extended to point
r over, besides the cases mentioned, in
northwest, Chicago Great Western, Della
ARE and Hudson, Des Mo;nes, Fort Dodge
and ST. Louis, firsts, and sec
ns, preferred: Lead and Susquehanna and
Western preferred.
ond values generally tended upward on ;,
moderate volume Of dealings, but gains
ere slight as a rule. rooklyn Transit SIS
ere 81, H7,OO0.
|
lies 5000.
FOREIGN STOCK MARKETS.
New York, July THE EVENING Posts
ondon financial cablegram says:
1.-The stock markets opened die and de-
-essed today. There was 10 increase in |
lsiness, but stocks were generally firm at :
10 close Mines We're dull. Americans
,ened fiat. Sales DISCLOSED weakness. The
Ills being frightened by the political situa- ;
on New York readily absorbed all the
ock offered. however, and prices closed
the best, with a firm tone. The de-
inc in the Bank of Bombay rate Of dis
,unt is believed to be preparatory to the
mediate issue of a rupee loan in India.
he weekly drawings Of council drafts {
i've been reduced to twenty-five lakhs for
,xt week The aPr.s and Berlin mar
It's were steady"
LOANS, EXCHANGE AND BONDS.
New York, July Money on call easy
1@lN per cent; last loan IL per cent;
osed offered al IL per cent; prime mercan
e paper 3q4 per cent; sterling exchange
eady and dull, with actual business In
mixers bills at si.SQ4S7 for demand, and
81 s5s.d4 SO for go days; posted rates S. iss
al. Sta and s4SSd4.SS1a commercial bills
S5H. Silver certificates 6o1sG6OS: bar
yer. co.'s, Mexican dollars. Acc. Govern /
ent bonds were firm: state bonds dull; !
ilroad bonds firm. r
TREASURY STATEMENT. e
d. c., July 7-Today's (
atement of the condition of the treasury I
ows: Available cash balance S2Si, $751; 500; I
Id reserve Sal .sS7. $50. I