The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-21

of the Decline is Recovered - Closing
low the Best-Bonds Also Recover-Lon-
don has Early Selling, But Buyers Ap-
pear Declines Narrow, Except, of
Course, in Greeks and Turks.
New York, April 2o.-New York dealers
this morning that their fears yesterday had
exaggerated the danger to values threaten
ed by the Greeco-Truk:sh WI. The early
morning brought news OF the opening price
in London for American securities at well
aboce last nights New York closing TIE
opening here was about on parity with
London for the international shares, the
rush OF first purchases in some stocks be-
ing SO great as to give a range of 4 per
cent in the initial prices. as was the case
in yesterdays selling movement. Today's
opening was attended by an almost equal
degree of excitement with yesterdays, the
eagerness TO buy what was sold yesterday
being feverish. The day was, in fact al
most an exact reversal OF yesterdays pro-
ceed:nSs, except that the retrogade move
ment stopped short of full recovery Of yes
terdays losses. The international stocks
were naturally the most affected by the
London strength and Louisville and Nash
vile, which suffered the heaviest loss yes
terday. showed the sharpest recovery today
by opening at an improvement of IL per
cent. st. Paul opened with running sales
of 900 shares at 700 to 70i5 per cent, as
The movement, though centering in the IN
ternationais, was general throughout the
list, the rise reaching a point in Manhat-
tan. The quotations for British consols
from London were eagerly looked for as
the best index of the real Importance at
tached to the war by those likely to be
best Informed. Today's quotations were the
first since Thursday. and when 1t was seen
that the fan in the prices was only 7-16 per
cent apprehension over the effects of the
war largely subsidized At the opening of
the war between Turkey and Russia, in 1871
the fall in consols was full points. The
tone of the exchange market today also
served to abate the fear OF immediate gold
shipments. which was an influence on to-
days selling. The advance in exchange
rates which has occurred on each success
sive day recently ceased today, and rates
only just barely held firm. It was reported
that the foreign bankers had decided not to
attempt gold shipments until the actual
rate for short sterling had reached St.SS&,
while the rate today was si.SSA. London
also bought stocks quite heavily during
the day. In addition to this the weeks
statement Of exports from New York show
ed an increase of over $1,000, 600 over last
week. thus giving promise of a continued
excess of exports, notwithstanding the vast
imports now being made. This promise of
deferment of gold shipments helped to re-
lieve the selling pressure. The contrary
of the stocks and the grain mar
ket was again noticeable, as yesterday
The buying of London today was quite a
notable factor, and a good part of the
stocks sold by tht capiatl yesterday were
bought back today. There was evidence
also Of large amount of new purchases
by London. This included some Southern
preferred, which rose 3 points, showing the
gain on the day, and Union Paci-
nc and Wabash. Southern preferred was
also helped by the increase in earnings for
The second week in April of S20,620 The
bulk of the buying for London account,
however. was of Louisville and Nashville
ana st. Paul, the latter again being the
leader in point of activity, and being sew
eral times crossed by Burlington in the
lays quotations. With the exception of
TWO brief periods of reaction, due TO profit
-aking, the course of the market was up
ward all day. The active railway shares
showed an average net gain of about A
POINT. extending TO 22s per cent in the case
If Louisville nd Nashville and St Paul pre- |
erred. Leather preferred and Tobacco each
showed net decline Of over a point, the |
ormer on Washingtons report Indicating |
he probability of a tariff on hides The |
anthracite coalers showed less buoyancy |
han the rest of the list, and Lackawanna |
'losed at loss of per cent. Pacific Mail |
llso was down IS percento n the day. The |
losing was dull but flrmandslightly below /
he hest prices of the day.
The total sales of stocks today were c21-
Oh shares, including: American Tobacco. |
loo: Chicago Gas trust receipts, 1870; /
burlington and Quincy. 1880: Louisville /
nd Nashville. 800; Manhattan ConsoI- |
lated. 4.4Oo: New York Central $500: Oma-
la, $3.50; Reading, 1880; ST aPul, 81. SEQ;
Western Union. 5000; Western Union pre-
erred, 10,i0o; silver certificates. 5000
Railway bonds recovered Sharply today.
With the speculative issues leading the move
nent. Ohio Southern firsts were a notable
reception, and fell 81 per cent, as COM
AIRED with the preceding sales at 90 per
ent on March "a. Business was slightly
mere active. with the Atchison. Texas and
'Gc:fic, and Northern aPcific issues regis
trins the extreme gains. The sales were
i,126. COO.
Governments were active but without /
otable change, on transactions of SS7, 900.
FOREIGN STOCK MARKETS.
London, Eng, April 2o.-The stock ex-
hange opened greatly excited today. The
lembers OF the exchange arrived an hour
arlier than usual Though all the securi-
es were marked down heavily, there was
o actual panic. Foreign securities were
SIS affected than was expected and al
lough all opened with substantial re-
uction, buyers soon appeared and the de-
Ines were mostly confined to narrow En-
:. Greek and Turkish securities were the
a.ef sufferers. Greek securities were down
ON S4GlA per cent. American securities
ere very fiat, in sympathy with the New
ork market though their quotations were
III considerably about parity Consols
ere $ per cent below Thursdays prices.
ONE railroads collapsed The latest price
al securities showed an appreciate re-
very. A member of the firm OF J. p.
organ & Co. the American bankers. IL
rmed the representative OF the Associat-
Press today that there was no disposi-
On on the London stock exchange to sell ,
ldue quantities OF any securities and that
ere MAS no Signs OF panic. The foreign .
purses closed steady ana with good IN
.rtone. The pressure 20 sell was speedily
iecked. The latest prices showed a re-
very specially n Amr.cans. II was re-
arked that there were scarcely any sales
ing effected by holders OF American Sc ,
Irities here. and OPPRESSION in values ema- :
stins entirely from New York. = lead
z firm Of brokers was ordered from New
ork to pick up quietly any l:nes % stock
Tered below New YORK parity.
.. IT. ;