The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-02-19
STOCKS AND BONDS
SHARE MARKET NOTABLE FOR
NOTHING BUT NEGAtIVENESs.:
Dali, Features Lacking and
Both Trading and Range Narrow-Not
rs Rehecting the Business Outlook. But
as Swayed by Manipulation Right at
Leaves Itself little Market Railways
Show Increased Earnings BCt the Drift
Is Too Great-Bonds Decidedly Firm.

Is Too Great-Bonds Decidedly Firm.
New York, Feb. 1S.-Tocay'z market for
| securities on the stock exchange was nota-
BE for nothing but its excessive dullness.
absence OF feature and the narrow limits
OF the trading and the range Of prices.
Even the indust-iaIs, though they took NJ
the bulk Of what trading was done, were
! not largely dealt IT. The market reflected
| 10 condition in the general outlook for
business in the country and was simply
swayed by the u,anipuIative efforts OF room
traders. As was inevitable in such a con-
| dition OF apathy. the course Of prices vas
| generally downward though the volume
Of sales was not large. There vas almost
entire sosance of commission house buying
showing the lack Of any outside specula-
tive interest IN the market. The bear ele-
ulent predominates and succeeds IN depress
ing prices. but the only result IS that there
is very little market left for them. The
Inference as that holders OF securities arc
determined 10 wait for the chance of
more satisfactory market before parting
with their holdings. The revival % feel
.ng Of uneasiaess over the enigma OF the
ultimate attitude Of the great powers TO-
ward the Greeks in Crete. reflected from
the foreign exchanges, served 70 dep-ess
the market from the opening and there was
selling OF some international securities on
foreign account. The anthracite coal group
declined sharply on apprehenslons over the
condition IN the trade, and in sympathy
with the raid on Lehigh Valley IN the Phil
adelphia market. New Jersey Central de-
cIined Ia per cent, and others Of the group
receded a fraction, except Lackawanna,
( which improved 3 per cent. Hooking Vel
ley securities continued a violent decline
on apprehensions OF a default in the inter
est payments coming due On March l. Of
ficiaIs OF the road declined TO make any
statement. and the stock declined rs per
cent. 20 ~ per cent, the lowest point reach
ed. the preferred ruling at y per cent bid,
and . per cent asked, as compared with 20
per cent az the last sale. The general SIS
fell per cent, and the SIS. after an initial
gain OF per cent, slUmped points. 10 So
per cent. Wheeling and Lake Erie prefer
red also became prominent, with coaces-
sion of 2Is per cent, IN spite OF the improv-
ed situation Of the Ohio coal roads as 10 the
t-affice, under the recent agreement. The
industrials fuctuated irregularly, showing
fractional net gains, however. American
Spirits were active and well supported on
trade outlook. Tobacco and Leather were
also firm, as was Sugar, on buying said TO
be for inside accounts and on advance in
the price Of the product. All the advance
was not retained. Manhattan was active
though erratic. and after fractional loss,
rallied IL per cent on the announced inten-
ton OF It's officials TO adopt electricity az
motive power. The gain WIS lost later on
revived rumors OF a reduction in the d.
vidend rate. Missouri aPcific was depress-
ed 70 1914 per cent, but regained the loss
on the publication OF the earnings for the
second week in February. showing an in
crease OF $1,000. Practically all the rail-
way reports received show an encourag ing
increase in earnings, but the railway list
was unable to Withstand the general apathy
OF the market, and declined fractonally,
for the most part. The market developed
a somewhat better tone in the late deal
ings and the closing was mainly steady.
The total sales OF stocks today were 30
l9S shares, including: American Sugar .. 400
Burlington and Quincy 1880; Manhattan
consolidated $500; Missouri aPcifc $3.50;
Columbus, Hooking Valley and Toledo. T.
900; Reading 200; ST. Paul 500; New Jer-
sey Central 800.
The bond market displayed decided firm
ness generally. on a wider volume OF trad
ing, which embraced a number of the hith-
erto neglected issues. improvements Of a
substantial character were recorded in>
some of the high-grade securities. Oregon
Short Line issues We're heavily dealt in
and rose I per cent for the SIS and per
cent for SIS trust receipts. There was no
news 10 account for the revival OF strength
and animation in these securities other than
expected benefits TO accrue from the In
dustrial activity chronicled in the north !
west. and efforts pending 70 rehsbilate |
various railway proprties traversing that |
region. Manhattan consols were usually |
erratic but ended with gain % per cent. |
Kansas City and Pacific frsts advanced |
3 per cent, but the change in the prominent |
speculative issues were unusually narrow. !
Purchases for local and foreign investment 4
account continue in considerable volume. /
with growing demand for the Iow-grade |
securities. The sales were s-.4+3ooo.
The government bond market continues !
10 maintain a firm tone on a good inquiry /
By financial institutions. Tie new IS. q.
a rule, absorb the bulk OF the transa ,tIons,
bat disposition IS noted 10 take consider
able blocks Of the other issues. The sale.
were sl6i,0oo.
FOREIGN STOCK MARKETS.
~
london financial cablegram says:
The stock markets today. after profound |
stag1ation and dul,ness. closed IA on COM
plications in politics. Consois sold az III
ISIS. In al movements in consois Just al
present II must be remembered that every
thing apart from politics favo-s q rtse
rather than fall Americans were HstIess
none Of the big finauc.ers yet showing &
lead n either direction. The Paris and
Berlin markets were dull
London. Eng. Feb 1S.-The Bank OF Eng
lands rate o. discount remains unchanged
81 per cent.
LOANS AND EXCHANGE.
New York Feb. fS.-Mo1ey OF call nom
nalIy nap rer cent: prime mercantile
paper SfI4 Per cent; sterling exchange stea-
" wien actual business it bankers bills a.
= $50 a = for demand. and SIS fo- 50 days
posted rates sLS5lzT4sS and S4s7's6+ss;
,oumsrci bills $50: silver certificates 64
:. CO. bar silver 645s; Mexican dollars 80;
government bonds firm; IS registered II
:: s's coupon IL; IS registered e5ls, IS
-egists-ed ana coupon Il@5-; As registered
H.; Pacific IS OF IS l05'--
BANK CLEARINGS.
Philadelphia, Ps.. Feb. -S-Clsa-.nEs 81
81. 104: balances s. SSo-4
Baltimore. Nd. Feb. 1S--CIse-irgS Sin
-: balances SSa-.ess
x; balances 8. loo. loa Money 5G5 Per cent
New York exchange = cents discount BID;
. cents discount asked