The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-06-08
ID PIT PRICES DOWN
Efforts of the Reactionary Ele-
ment Succeed.
RECOVERY AT THE LAST
But Net Gains Are Small,
Losses Predominating.

New York. June The stock markets
showed the same conflicting tendencies
as for several days past. but the reaction
airy element gained the upper hand during
the afternoao and effected sharp declines
al through the list. dislodging quite a
large amount OF stock by wiping out the
margins on which Il was held. There was
q significant period OF dullness. succeeding
this lively selling. and then began & quiet
and steady absorption OF stocks, offerings
being taken at the ruling prices, with an
entire absence OF any effort 20 mark up
quotations 1t was sufficiently evident
that the purpose OF the reaction was 10
secure stocks at the lower Lowell. There
was quite lively commission house de-
mand al the opening. which lifted prices
OF many stocks & small fraction. There
was special show OF aggressive strength
in Brooklyn Transit, the Reading stocks.
Erie first preferred. and some OF the lower
SOuthwesterns. Metropolitan Street Rail
way and Consolidated Gas were also cen
ters Of strength. The bears met this by
vigorous attacks on Union Pacific pre-
ferred. Peoples Gas. Louisville and Kan
sas and Texas preferred, all Of which
were driven down between II and
points This combination proved vulnera-
BILE TO attack and weakened the market
at its salient points. The recoveries in
the final hour were over a point IN a
number OF important cases, but net gains
were mostly small and losses pretiIminat-
ed. The war news was without influence
on the stock. London was quite a heavy
seller here, and was factor IN weaken
ing prices and IN giving a grim tone 10
sterling exchange. The Generalization OF
wheat prices may have aided the reac-
ton. The worlds heavy receipts Of wheat
gave rise TO a question as TO whether
Americas next crop can be marketed 10
the best advantage.
Although money continues abundant
and cheap. II is Inevitable that the ap-
preaching government bond issue shouSd
absorb money and harden rates, Temporal
rily at least.
Total sales of stock today were 457, 400
shares.
BONDS.
There was realizing in bonds today IN
speculative issues and the tone was heavy.
Total sales were s2190.000. United States
old fours registered and the new fours
were y per cent lower, and the hves 4
per cent lower in the bid price New foUrs
registered and coupon 123, fOu-s, los; cou-
pom 10; seconds, 80; ives registered and
coupon. HOS; Pacific SKIES Of g, l0ol3-
FOREIGN STOCK MARKETS.
New York. June The Evening Posts
London financial cablegram says:
Foreign stocks were weak, notably
Chilians, on the reported issue OF 400, CO.
coo pounds IN government treasury bills.
Americans were bought here. but not
from influential quarters. Milwaukee and
St Paul and high priced stocks were top
heavy. the demand being now chiefly for
lower-priced stocks. Prices closed dun.
The settlement tomorrow will be favored
by cheap money.
THE increased imports and the de-
creased exports for May are mainly due
TO the receipts OF more food sturfs from
the United States and the Iessened pur-
chases of goods by that country
London. June Is o. m.-Bar silver,
easier. at 26ssd Per ounce.
SPANISH FOURs.
London, June 7.-Spanish fours closed at
35Is. a ne- loss OF ?.
Paris, June Spanish fours closed at
$50. unchanged from yesterday. On the
bourse today Brazilian and Argentine Sc
curities declined sharply at the opening
Of the market owing TO a rumor that \
war between Chill and Argentina had bro
ken out. There was an all-around weak
ening untH near the close. when there
was a recovery. with Italian securities
leading. Rentes and Spanish f0urs were
well supported.
Berlin. June 7-Tnternational securities
were firm on the boerse today. but Span
ish fours were weak. Northern Pacihcs
were higher Mining shares were weak
on realiZations.
LOANS AND EXCHANGE.
New York. June Money on cali nom
inally at "a 10 IL per cent Prime mercan-
tile paper, 20 per cent. Sterling ex-
change, steady. with actual business in
bankers bills at 1851 a. $50 for demand
and al 81 s4izd4 So. for sixty days. Posted
81 S5G4s7. Commercial bills. ffs31s04 s37t
Silver certificates. 59tzQ6l Bar silver. 5s't.
Mexican dollars. 45lz.
TREASURY STATEMENT.
washington. June 7.-Today's statement
Of the condition Of the treasury shows,
Available cash balance. $3.50, Z, lc; gold
reserve, <1s9. Z7s. 0l4.