The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-04-18
STOCKS AND BONDS
VALUES ON THE SHARE MARKET
TEND DOWNWARD.
Undressing and Not Very
Much of That, Foreign Exchanges Being
Closed and the Short Day Following q
NEUTRALITY-SUSPICIOUS. Heavy-Rise In
the Price of Wheat Is Taken as a War
Symptom, and War Fears are Depress-
fnC-Bonds Eased Of-Review OF the
Week-The Bank Statement

New York, April 1.-THE tendency Of
prices downward today was only interrupt
ed for very brief periods, and no rallies of
eny Importance occurred. The market was
undressing and very dull, being a short
trading day and coming after a holiday.
The fact that the foreign exchanges were
closed and would remain so until Tuesday
also had its effect in curtailng operations.
The market was narrow and the small deal
inss wholly professional and in the special
ties largely manipulative. The information
Ell stocks continued to manifest heaviness,
notwithstanding the closing of the London
exchange, dealers here relying on their own
private advices as TO the war prospects
abroad, and some sales of these stocks be-
ing made also for London account. The
rise in the price of wheat was interrupted
On the stock exchange as presaging a belli-
gerent outcome to the dispute in south
western Europe, and this was used as
bear argument, the price of railroad stocks
moving contrary to the price of wheat, as
has been the case in connection with war
news from Europe recently on several oc-
cas:ons. The grangers are usually the OK
ception, and Burlington advanced a small
fraction at one time today and suffered a
smaller net decline than the other grangers
St. Paul suffered from the showing of a
loss -of Ss6,3i3 In its estimated gross earn
ings for the second week in April, and
Northwest and Omaha manifested a weak
ness common to the other Vanderbilt stocks
There was a falling off in activity in Su-
gar and very narrow fluctuations in its
price. Chicago Gas continued to be the
center of activity in the market, but its
fluctuations were without significance, 9TH
er than professional, the price receding in
the face of buying by interests that have
uniformly been credited with acting for
insiders. Northern Pacific enjoyed period
of gain at the opening, but afterwards sue
cumbed point, scoring a net loss on the
day Losses on the day reached a point
in the cases of Tobacco and Chicago Gas,
Is per cent in New York Central, 34per
cent in Northwest, Susquehanna and Wes-
tern preferred and Tennessee Coal and Iron
and Is per cent on Rock Island, Omaha and
ST aPul. Adams Express rose ~ per cent
in the final dealings on light purchases.
The total sales of stocks today were a.
500 shares, including: Tobacco, 400; Sugar |
900; Burlington and Quincy, $500; Chicago |
Gas trust receipts 1860; St. Paul, 1900.
REVIEW OF THE WEEK.
The market for stocks has been dull dur |
ing the whole week and the weeks trans |
actions have resulted in a decline in the |
price of railroad stocks reaching an aver |
age OF Ito points and in industrial stocks |
OF 10 215 points. Burlington was an ex-
cept:on in the railroad list, and closes the |
week with higher than last Saturday. The |
grangers as group enjoyed some advan- |
tages over the general railroad list, the |
threatening aspect of foreign affairs and |
the strength in the wheat market being !
rather in their favor. Although the gen. |
eral list Of stocks responds unravorably to |
war-like news from abroad on the ground
that all property would suffer in value
from the resulting disorganization of cred
Its, the belief is general in Wall street that
the value of property generally in America
would increase ultimately in the event OF
war abroad. The decline on the week has
been accompanied by an almost stagnant
condition of trading. the market having
awakened into a spasTodic activity on only
one or two occasions. The dizziness was
in part due to the short week at the Good
Friday interim and the foreign exchanges
continuing closed on Saturday. This had
the effect of discouraging trading on the
days preceding. the transactions on Thurs
day being largely confined to evening up OF
contracts. The dizziness and the heaviness
which it accentuated had the effect of NULL
flying one or two factors which were look
ed to hopefully to broaden the demand for
stocks. Prices have been more or less
dominated all week by the reflected de-
preston from the London exchange, where
not only the eastern question was depress
ing influence, but also the decentralization
In the Ksffir securities, and the whispers
of financial embarrassment Of their lead
ing promoter. The revelations that have
been made of, fraudulent transactions by
bogus brokers and of the astounding d.
mansions of the business done by sure
thing advertisers has been small depress-
ing influence en- business, so far as out
side inquiry is concerned, and the stock
exchange authorities as well as those in the