The Wichita daily eagle., 1897-08-07
STOCKS AND BONDS
STOCKS MAKE A GREAT REBOUND
FROM THURSDAY.

Many Shares Establish: New High Rec
ords-volume Of Transactions. Second
Only to Thursday's, tho Highest of the
fear-Buyine of Bonds Is Heavier-Lon.
don Selling of Americans Ignored, Nor
is the Exchange Market Affected There
by-Wheat Markets Recovery Helps the
Grangers Especially.
New York, Aug. 6.-The stock market
rebounded today from the depression
manifest during the greater part Of yes
terday, many stocks establishing new
hign records. The volumes Of transac-
tions was second only TO that Of yester-
day in the record Of the year thus far.
and the animation was without inter-
ruption, except for few brief lulfs in
which profits were taken by profession
ais. Although the dealings in stocks
We're in somewhat decreased amount
compared with yesterday, the buying Of
bonds was heavier. The efforts Of the
professionals TO bring about reaction
were abandoned today, and the market
seemed to move upward almost without
restraint, except for a few exceptional
cases. The activity permeated every de-
partment OF the market The sagsing
tendency Of prices of American securi-
ties in London, and the continued large
selling Of them here for London account
were ignored, some Of the stocks in
which the heaviest selling was done by
London, as Illinois Central, showing the
widest advances mere. There was tenn
porary lull in the advance of some inter-
national stocks during the process of alb
sorption Of London offerings. but il was
resumed when these offerings had been
taken. London's sales were estimated at
about 25,0Oj shares. The foreign selling
was also without effect on the exchange
market, which sank heavily, actual
business for demand sterling being done
at s4.S6 IA. and for 60 days at s4S5, with
the tendency Still downward. Posted
rates also were reduced half cent, 10
s4.S6 for long bills and s4.S7 for short,
respectively. The failure Of the London
selling 70 affect the exchange market
led 10 some surmises that the selling is
for short account. Skilled estimates
place the amount Of American railroad
stocks still remaining in the London
market at very low figure.
The recovery in the wheat market had
a sustaining effect in the stock market,
most pronounced in the grangers. and
especially in St Paul, Burlington and
Chicago Great Western. Yesterdays
good reports Of earnings Of southern
railways continued 10 exert a good in
fuence on the stocks Of those roads.
The stocks OF iron and steel companies
reflected an improved feeling in those
trades, except Colorado Fuel, which lost
5-S per cent. and Leather preferred rose
on encouraging reports Of prospects in
the leather trade. Laclede Gas made
further ensational advances. Consoli-
da ted Gas and Chicago Gas retained their
rather heavy tone, though closing with
fractional net gains. Sugar was unable
to maintain its rally, and closed with a
net loss Of 3-S per cent. Manhattan
rose buoyantly on reports Of a union |
with surface car interests, the net gain |
being IA per cent. Other gains OF i'm |
portance were: Laclede Gas preferred, |
6 1-2 per cent; Minnesota Iron, 8 per cent; |
Pittsburg. Cleveland, Chicago and st. |
Louis preferred, 3 IA per cent; Pullman, |
1; Manhattan, s; Edison Electric Of |
Brooklyn. 4; two points or over in North
west preferred, Detroit Gas. Illinois Cen
trail, Illinois Steel Laclede Gas. Metro |
politan Traction, Southern Pacific and |
Leather preferred, and point or over in |
Chicago Great Western, Du
iuth, South Shore and Atlantic, Des |
Moines and Fort Dodge preferred, Erie
second preferred, Flint and Pere Mar
quette preferred. Iowa Central preferred,
and S.. Louis second pre-
ferred, New Jersey Central. New York
Cntral, Susquehanna and Western pre-
ferred, Pttsburg, Cleveland. Chicago and
ST. Louis. Tennessee Coal, Rubber pre-
ferred. ST. Louis and San Francisco first
preferred and ST. Joseph and Grand Is
land first preferred.
The total sa,es OF stocks today were
541 500 shares including: Atchison, 2.1S5,
preferred 6,o0S; Chesapeake and Ohic.
6, $50; Burlington, 34,195; Erie new 4.25l,
first preferred. 3.l61; Louisville and
Nashville 1920; Manhattan l. 1880;
Missouri Pacific $40: New York. sus-
uuehanna and Western preferred, $3.50;
New Jersey Central, 4,770; New York
Central 6,91o; Northern Pacific, 5.4o0,
preferred $3.50; Northwest. $3.50; Rock
Island, 23,64O; St. Paul, 40,310; 81. Paul
and Omaha. ,4207; Southern Railway, l6,-
SIS. preferred, 1910; Union Pacific, H.
100: American Spirits. 10.Sl0; American
SO. 500: Bay State Gas. 9,13o;
Chicago Gas. 12,050; General Electric, s.
go: I.aclede Gas. 1.4S0; Pacific Mail. A.
$50: Sugar, 1927: Tennessee Coal and
iron. 9.O55; United States Leather, 5,Si5.
preferred 1000; Western Union. $40;
Chicago Great Western, 25,51O.
Values of railway and miscellaneous
securities continue 10 trend upward on
leavy purchases, which include num-
per OF the giIt-edged liens. The middle
,-ade and low-priced mortgages scored
he more noteworthy changes, with for
ign purchasers again in evidence. The
Aggregate sales were s3.700.00o
Government bonds showed soTns irreg-
Ila,i;y. but closed firmly on light trad
ng.
FOREIGN STOCK MARKETS.
New York, Aug 6.-The Evening
Pests London financial c3blegram says:
Americans doomed today, but 1 use
he word more in the sense of New York
nd continental buying than any real
ush for the stocks here The profess
.onal public here realized largely yes
eriay, and the continued advance in
rices in New York, with no setback.
nakss them nervous about re-opening
Transactions. especially on the eve OF
ne settlement. Today's gains are fur
her advertising OF the American mar
- xh.>h Is TIE Chief tonic OF converSa-