The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-06
MARKET IS SIACNANI
Cuban Situation Puts the
Traders at Fault.
NO MEANS OF TELLING
What Possible Development
to Discount.
NO MEANS OF TELLING

ket was almost utterly stagnant, and
there were minutes at a time during the
session of the exchange when no quo
tation for any stock was recorded Small
as the total volume Of business was, most
OF It was made up Of transactions in a
few of the leading stocks, Sugar and the
grangers absorbing the largest proper
ton. The dizziness itself was expressive
of the prevailing sentiment of waiting
and of extreme doubt. Not only were re-
ports very conflicting as to what would
be the tenor of the presidents message
to congress tomorrow, but opinions as TO
how the message would be received and
disposed of differed widely. There was
practically nothing left of yesterdays
sanguine anticipations that sentiment
would grow in Washington against war
like measures There were, IN fact, sig
nificant reports that the organized press
ure which has been exerted upon congress
during the last few days against hostile
measures has rather defeated its purpose
by awakening resentment. Wall street
counted much on the effect of these united
representations to congress.
Prices show small losses throughout as
a net result of the days trading. Inc
opinion is still tenaciously held in some
quarters that hostilities may be averted.
Such hopes of this as were entertained to-
day were based on the possibility that
Spain would induced to yield to the de-
mands of this government by the repre-
sensations of the pope and the European
powers. An expression OF the prevailing
uneasiness was hte decision by the stock
exchange governing board to keep open
for business on Good Friday.
The money market continues to reflect
the stress over the relations with Spain
as forcibly as in the stock market. Funds
continue to move to the interior for the
purpose of strengthening the reserves of
interior banks. The proportion Of reserves
of all the banks in the country have been
enormously increased in the last few
weeks, and New York has made good the
consequent drain upon its reserves by a
large contraction on loans and by heavy
imports of gold to Europe. The owners
of money are very loath to put it out in
loans. The prevailing rates Of per cent
for time money and the varying rates for
call loans are admitted to be largely senti-
mental, and based on apprehension of
war The position of the banks is admit
tedly strong, the supply Of available funds
large, and the demand for the use Of mon
ey not very active. But with rates stiffly
held, gold continues and will continue to
come from Europe. An easing of money
in London and eBrlin facilitates the i'm
port gold movement, and the engage
ments announced today amounted to near
ly 100000.
The total sales of stocks today were
257 100 shares.
The governing committee of the stock
exchange today rescinded its action in
the closing Of the exchange on Good Fri
day, and decided TO keep open for bust
ness on that day.
BONDS.
Transactions in bonds were on a very
small scale, but the market shared the
depression with stocks. The total sales
were s., Dds, 900.
United States new tours and the old
fours registered are y per cent lower bid
today. New tours, registered and coupon,
12112; fours, 100; coupon, HOP; twos, 971a;
fives, registered and coupon, Ill.,; Pa
cific skies of 49, -03
FOREIGN STOCK MARKETS
New York, April 5.-The Evening Posts
London financial cablegram says:
The stock markets here were stag
nant today, in view of the approach of the
Easter holidays, while the uncertainties
of the political situation depressed quota
tons At the same time, ii is felt that
each days delay decreases the likelihood
of a SpanishAmerican war. Americans
were much better at midday on a some
what ragged buying here. This is re-
GREETED because it will weaken the posi-
ton if war occurs. The continued fall in
Brazil stocks eXcites attention. Gold is
in strong demand for New York at as
I'D, and $4,000 pounds in japanese yen
were bought for export at 76s 612d.
SPANISH SECURITIES FALL.
Madrid, April 5.-Spanish tours closed
today at $3.50 per cent.
Paris, April Son the bourse today pri-
ces opened weak, due TO the fallin Span
ish fours; grew frmer and reacted on a
new fall, owing partly to forced sales and
partly to the reports that President Nc
Kinley's message to congress will be IN
favorable TO Spain.
Berlin, April 5.-Business on the bourse
today was hesitating and conflicting. ow-
pute between Spain and the United States. |
The prices of International securities
were maintained and Americans were |
steady. Canadian Pacific shares were har-
der in consequence of the increase in the /
weekly traffic returns.
LOANS AND EXCHANGE.
New York, April 5.-Money on call non1i- |
nally per cent. Prime mercantile pa |
per- 5Q6 per cent. Sterling exchange.
weak with actual business in bankers |
bills at 4S3l4 for demand and al s. S0l. d |
: .S0l4 for sixty days Posted rates. SLsla /
i.SZ and Si.S4q4S5. Commercial bills. /
S479ls. Silver certificates, 55ss d561. Bar
silver, 55s4. Mexican dollars. Is.
GOLD FOR IMPORT.
New York. April 5.-Kuhn. Loebe & /
Co. have $4,000 in gold engaged for i'm /
port. The British Bank OF North America /
has ordered $500, 900 more gold for import:
J. & W. Seligman, 1,25o. 90; Heidelbach.
Icklemeimer & Co.. $3o0.0o0 and Muller,
Schall * Co. $50 no.
TREASURY STATEMENT
Washington, April 5.-Today's statement
# the condition OF the treasury shows:
Available cash balance, So. 81, PIG; gold
reserve. sl75, e2S IS5.
GRAIN AND PRODUCE MA RKET.
Chicago, April S.-Today was a holiday /
n ThiCa-0 on account OF The IDEAL eIe~- {