The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-06-26
STOCKS AND BONDS
EARLY ADVANCES GIVES PLACE To
LATER DECLINES.
;old Shipments. the state Of the Treasury
and the Exchange situat Ion In General
are Responsible for approximations
Which Lead tn q Selling Movement aud
Largest of the Yegr-Close il at Net
Losses on the Day-BstseE Outlook for
Americans Ia London.

Losses on the Day-Bst seI Outlook for
Americans Ia London.
New York, June e5.-5iany thousands Of
Shares of stocks were bought on the stock
exchange today, at prices materially above
LAST nights closing prices. the advances
extending TO point or over il many prom
:nent stocks. But the market sold OF
later N the day on account OF apprehension
caused by the large volume OF the gold
shipments by tomorrow's steamer, s., $780,
coo in all being engaged for export. Addi-
t.onal uEeas.ness was caused by the fact
that the whole amount was taken from the
United States sub-treasury, or from the
essay Office, an bars and not part from the
hanks or from private sources. as has been
the case with most of the recent shipments.
The decline in the price OF stocks which
resulted was very marked, offerings TO re-
slze being very freely made for time,
and the heaviness extended all through the
list. The decline, however, brought dull
ness and dimnut.on of offerings, ind.cat-
ing the undertone of strength in the mar
Eet. The weeks gold shipments now amount
to S.Se0. 900, which is larger amount than
has gone out in any week Snce the first
week of the present movement, that ending
May s, when the exports We're 500, o.
The subsistence OF apprehension on account
OF gold exports IN the stock market has
been mostly due 10 the stability shown by
the gold reserve in the United tSates treas
ury for several weeks past, about Slii. 0O1cG0
in face Of continued exports OF gold by ex
change houses. The amount OF gold n
the treasury at the close of business yes
terday was $l42. SIS, SIS, which is considerably
less than at any time since the present gold
movement began. OF course, today's adj
diI.onal Withdrawals of $4,000 do not ap-
pear IN the above statement of gold in the
treasury. The sterling exchange market
was easier under offerings of bills against
the gold shipments, sixty day bills reced.nS
4 per cent 10 Si.S5. But it is expected that
there will be sufficient demand to st.ffen
exchange rates next week, with further
gold shipments as a consequence. The
supply OF exchange N the market is, IN
fact, very meagre, and any extra demand
has TO be met by gold shipments. The vol
ume OF dealings today was larger than on
any previous day OF the year. the total sales
of all stocks reaching $500 shares, but
nearly two-thirds of that amount was alb
sorbed by Sugar, the grangers. Chicago Gas
and Bay State Gas. There were $500
shares OF Sugar and about 50 90 shares
each of st. Paul and Burlington sold dur
ing the day. Sugar and the grangers led
the advance but the list generally reacted
to below last nights close, showing net
losses on the day. Sugar. however. rallied
partially and closed with 2 net gain of IL
per cent. Rock Island IS the only one of
the granger group TO show a net gain,
which amounts 10 Is per cent. Manhattan
and Western Union gained Is per cent each,
and New York Central a small fraction.
Northern Pacific was weak On rumors OF a
halt in the arrangement for puttinf into exc
cut:ve control those IN harmony with Great
Northern interests. Union Pacific reacted
on the action OF the United States commit
tee in favor of suspend.ng proceedings to
sell the United States interests TO a syn
dictate.
The bond market displayed considerable
animation today, the transactions exceed
ing 10000 The buoyancy was apparent
in a variety OF issues with some sensa-
tional advances noted in the usually mac
tive mortgages, particularly Missouri Pa
c;fic collateral fives. which rose II per cent,
to IS per cent. The low-priced bonds dis
played strength. with purchases Of the gilt
edged liens by investment interests tend
ing to accentuate the upward movement
which has been in evidence for long time.
FOREIGN STOCK sIARKETS.
New York. June 25.-The Evening Posts
London financial cablegram says:
THE carry-over in mines and in general
securities absorbed attention in TIE stock
markets today. Americans and Kaffirs show
the growth OF a speculative account. Con-
tagoes on Americans were "a per cent to 3
per cent, the dearer rates being partly due
10 dearer monew at the end of the half
year. The tone here Is good all around.
with Americans and Kaffirs as the feature
Both look Ike forging ahead. but until the
holiday aspect Of the markets his disappear
ed. IL viii be difficult TO discover the precise
drift. All hat can be said at present is
that the buying, while influential, IS profes-
sional. Americans closed al the best. and
Grand Trunks were strong. Il IS the be-
lief here that London may send New York
considerable gold in the autumn. The Paris
bourse opened firm but closed rather dull
The Berlin market was steady
FINANCIAL REVIEW.
New York, June 3.-Brad street's review
OF the stock market tomorrow will say:
While public interest has increased con-
s.derably. Il is still by no means a very
broad speculation. and the decided advan-
ces N so many leading stocks seem due
largely 10 inside support or 10 purchases
by large interests that have in late years
taken little part in Wall street London
has been occupied with the jubilee celebra-
ton, but while Americans have been strong
there, It is in the main reflection Of the
-
plays as yet TO very market tendency 10
interest itself in our securities. Commits
sion house buying here has grown. bu;
there is a general complain; tha; II has no;
Gone so in proportion TO the general adj
vance in prices, and the market d: inter
vals has become dull. Professional traders
" 10 realize profits have several times e.
aeavored 20 provoke a reaction. but recent
experience with the market does not en-
courage operations on the short side OF the
market The appearance OF some friction
n The wool trade caused only a monenisry
degree of speculative hesitation. and the
crop news. with moderate gains n rzI-
roads. expectations OF much better things
IN the near future. encouraging talk as 10
the business outlook. and rul7o-s O. In
creased dividends or TIE shares OF leading
all have combined for the pres
sat r.ss. The market has pad 'lttIe al
tention 20 the strength Of foreign exchange
Dr. the shipment OF $500 gold
The bond market has been strong. b3sa
investment and speculative issues psrtscs-
pa-iEg in the Improvement Municipal
bond issues find a ready marvel
LOANS. EXCHANGE AND BONDS.
New York June S.-3ioney On czl NOM
nally ,9I:. per cent; PRIME mercantile ~
Der ga Per cent: sterling exchange szz-er
with zc;ua, business n bankers bis al
= So ~ So for demand and Z; 5; ssa+ 81. |
FOR sixty days. posted rates ti-s5S4s7i. saI
a Is @ 49,, silver certificates ssisFE.: bar
silver o.. Mexican dollars sc Govern !