The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-05-30

Given asa Rsaaoo for Buying-Markes
for Both Stocks and Beads ssroor for
the Week-Amerfcans Rise In London
The Weekly bank Statement.
New York. May sThose traders who
. availed themselves Of an opportunity late
! OF q crush OF those bent on a similar mis-
! sion today were wise in their generation.
| The rise il prices in the general Est this
week has been sufficien: TO have invited
more extensive proit-taking at a weeks
end than any week for months past But
sales 20 take profits were at minimum TO-
| day and exercised 10 marked effect on
prices. which held steady near the h:ghes.
Until TIE close OF trading. The shorts, OF
the contrary. showed a feeling OF unrest
over the indications Of strength in the mar
ket and manifested their willingness under
! the circumstances, to carry over short coz
tracts until next Tuesday, at which time
trading is 10 be resumed On the stock ex-
| change. Several special factors served 70
encourage the buying OF stocks besides the
| Increased confidence felt in the general out
look for business. Some OF those who
bought stocks today gave as their motive
| the tone OF the speech delivered by the
| secretary CT the treasury yesterday. espec-
/ tally his expression OF confidence that TIE
| tariff bIl would be disposed OF at an early
| day and his broad intinatioa that some
! measure Of currency reform would then
be put forward by the administration. The
renewal Of the buying for London account.
which was a feature % the earlier days of
] the week, also added strength TO the mar
ket- The dealings were remarkably well
| distributed, the number Of stocks who's.
shares were sold being much larger than
Tor some time. The more noteworthy gains
al the high point were: Illinois Central
"a per cent; Tobacco. IL; Lead. Is Canada
southern. Ia and Burlington. Northwest
| preferred. Pullman and Reading frsts pre-
ferred, point each. There was some re-
! alizing in New Jersey Central. but is net
less was only q per cent Cleveland. Ci.-
! ctnnati. Chicago and 81. Louis continued
heavy and lost 81. per cent. closing a, "A
| Per cent Lake Shore advanced 2 per
cent, TO Isl per cent bid. without eIiciting
| any offers.
The total sales OF stocks today were 10.
? IS5 shares. including: American Sugar, -
so; National Lead, $500: Cleveland. Gin.
| clnnati, Chlca go and ST. Louis, s,aOe: Chi
cago Gas trust receipts. 900; Burlington
| and Quincy. I3 so; Pullman, 4S10: Reading
certificates third assessment paid $50:
Rock Island. 1850, New Jersey Central. g.
SO.
The market for stocks ana bonds has been
notably firm and strong all week, though
the dealings were a good deal depressed a,
| times. The dizziness came at times of heavi
ness in the mearket, indicating the dispo-
sition OF holders 70 wait for better prices.
The rise in the majority OF stocks was
only interrupted by the influence OF special
depressing causes from time 20 time such
as the unexpected volume OF the gold ship
ne1ts early in the week, the break in
Rubber shares on account OF the retirement
OF President Evans. and the feeling of dis
trust disseminated by the announcement
OF the Baltimore and Ohio defalt on the
payments due June on some OF the COM
pany's bonds. These react;olary infiuen-
ces proved inadequate to overcome the en-
cuoraging factors al work, and the result
has been bull market for the week The
event 10 which Wall street attributed the
greatest part OF the improved trade is the
taking up OF the tariff bill IN the senate.
More or less attention is attracted By
various statistical estimates OF the present
activity in general business, accompanied
by the argument that the volume of: bust
hess Is at present equal 10 that In some OF
the most prosperous years IN the country's
business, but at such extremely low prices
as not 10 be evident in estimates of trans
actions by valuation. The broadening OF
business activity Is felt. nevertheless. TO
Indicate an improving tendency in business
conditions.
The exceptions 70 the stocks which show
a net gain on the weeks trading are ver-
few and those which have gained a poiu,
or over make a long list. These which
gained two points or over are: Sugar. La
Clede, Lead, both common and preferred:
Burli1 ston. Northwest, Rock Island. Atch.-
son preferred, Western Union, Michigan
Central, Minneapolis and s., LOUIS. Mis-
souri, Pacific, Reading frsts preferred ard
Pullman. New Jersey Central has shown
marked strength since early in the week
and closed ~ Per cent higher Illinois
Central gained 4 per cent. and Lac Shore
per cent. Baltimore and Ohio has recov-
cred somewhat from the lowest but has
lost points net Cleveland. Cincinnati.
Chicago and s.. Louis IS 81. per cent lower
and Cleveland. Cincinnati. Chicago and s..
Louis preferred 5 per cent.
The bond market displayed fair degree
OF animation during the week with q mark
ed tendency toward a higher plane ap-
parent Purchases FOR continental account
were in considerable volume. ard impaired
decided strength 70 the international He-z.
The general market pursued a. almost u
interrupted coE7ss upward and closed a:
the top prices for the leading mortgages.
The transactions embraced an extensive
variety OF bonds. with The gil;-edgsd prop
erttes generally recording substantial IN
provsne1ts. The more confident speculz-
tive temper Influenced renewed investment
buying. which included some round amount
CO the n.diEe-grsds issues. TIE princi1z. I
Pains were Detroit Gas IS per cent: s..
Louis ard San Francisco trusts IS. -:
Richmond ard DzuviIis debe1tzres IS g..
Pittsburgh Cleveland. Chicago and s. Louis
pc. series 3. ~: Commercial Gable as
and Wisconsin Central fr<ts. -; Ohio al
Mississippi sinking funds ~. and St Pau.
frs-s. Iowa and Dakota division. Tose6o {
s. LOUIS and Kansas City frs-s trust re- |
ceiptS. Utah Northern So, Northern Pacific
terminal frSts. Per cent Declines: Bziti- /
mare and Ohio SIS, - Pc cent: Baltimore 1
a1d Ohio SIS OF Iss. s: Baltimore and OHIO /
registered IS % I5-5. i3iz: Brooklyn Tran |
SIT IS. -: Lehiga and Wilsz5arre 5s. 81. 1
Kansas City and Psciz1 IS. -: Louisville, |
New Albany al! Chicago. oo1<ois trust - |.
cops. :. and Omaha and s. Louis IS -zsi /
recs.Tts. . pr cent
Government bonds ruled firm ;hroaghos; |
O. ncSerate dealings.
FOREIGN STOCK MARKETS
New York. Nay @-The Evening Pos.'s
Lo-doo financial ea6eisrzn says:
TIE stock markets here we're quiet 20