The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-02-17
Trading IS FEVER|SH
Stock Exchange Worries Over
the Maine Affair.
DECLINES ARE GENERAL
Americans in London Flat
Bond Market Heavy.

New York, Feb 16.-Trading was re-
markabIv feverish on the stock exchange
today, and all interest conferred in the
disaster to the Maine in Havana haroor'
and in the possible international conse-
ouenees. 1t cannot be said that the vary
ing phases of the speculation during the
day represented any change Of opinion as
IN the very grave possibilities with which
the disaster is pregnant. The occasional
checks to the downward course Oh prices
we're rather the results of questions III llie
minds of large operators as 10 theiF avn
itv TO hold the market or the pest way III
which to effect the liquidation Oh thelr
holdings. Twice during the day very pow
erful support was forthcoming IN the MAJ
rot m check the decline and TO combat
the successful raid of the bears. mat
there was very large short selling during
the day was evident from the strength Oh
the rallies caused by the cOvring OF shorts
WIN the turning point at the low level
was reached. This was particularly no
ticeabIe in some of the greatest favorltes
of recent speculation, which have oeen
pushed UP to prices hardly warranted oE
their intrinsic values. The knowledge
possessed by the bears of very heavy spec
ulative holdings in those stocks, covered
by light margins, gave them commence III
fercely selling them down. The support
of the bulls no sooner effected chech
10 the decline than realizing offers began
TO come out again. There was an album
dant supply of long stock fed into the
market all day long, and 1t was eeVldent
that the bulls had abandoned an tmmedl-
ate campaign for a rise as hopeless. How
far the speculative holdings for a rise
were liQuidated today remains TO be seen.
It is sufficiently evident, however, that as
soon as this liquidation can be concluded
prices of securities will be left for the time
being to their natural level. Stocks which
have been free from recent manipulation
for a rise comparatively firm today, and
the so-called Klondike group, notably Or
egon Short Line, was even aggressively
strong, rising at one time points. This
was on reports of the large traffic opening
UP for Alaska. Great Northern preferred
gained two points, and Denver preferred
also rallied to last nights level before the
close. Otherwies the weakness of stocks
was only a question of degree. The local
traction stocks were all severely handled
Metropolitan Street Reilway falling at one
time 915 points, and closing at loss of
points Norfolk and Western preferred
was raided down nearly points at one
time but closed at a recovery of over ?
points. Northern Pacific preferred also
yielded at one time IA points, but recov-
cred sharply. Net declines of . points
and upward are very numerous all
through the list.
BURLINGTON DIVIDEND.
IL. -.
Chicago. Burlington and Quincy have de-
clared a quarterly dividend of IL per cent
payable March 10. This increases the an
nual rate from per cent to 5 per cent.
The total sales OF stock today were $685.
200 shares.
BONDS.
Bonds were heavy in sympathy with
stocks but declines were not so severe and
the market was not so active as that for
stocks. Total sales S4100 600.
United States old tours registered, new
tours registered, and the fives registered
were Is per cent lower bid. and the new
fours coupon Il per cent lower. New tours
registered 12S14, coupon 12Sss; tours 1885,,
tours coupon 11412; cesonds 100; fives regis
tered and coupon 11324 Pacific skies of '99
l04.
FOREIGN STOCKS.
LONDON, Fen 16--Amerlcan securities
opened firm on the stock exchange today
owing to the belief that the Cuban diff
Guilty was ended. but later they fell rapid
" owing to the news of the disRster to
the United States battieship MaineGn Ha-
vana harbor. On the street prices were
fat and there were sharp declines es-
peciaily in Union Pacific, Louisviu and
Nashville, Milwaukee and St. Louis, and
Norfolk and Western preferred
New York. Feb. 1.-THE Evening Posts
London financial cablegram says:
The stock markets here were dull to-
day. Americans were fiat on the disaster
to the battleship Maine. The disposition
here is to regard the matter as a lamenta-
BILE accident. but it is feared The United
States may think otherwise. Anyhow It
is recognized that the disaster may show
temporarily as a fresh incentive TO the
lingo party, and for this reason the mar
ket. after small rally. closed a the |
worst. The incident has revealed one fact |
at least, namely. that the bull account
here is much larger than had been sup
posed. Amsterdam has Joined in selling. |
AT the same time there has also been buy
ing of a distinctly good kind. Grand |
Trunks and Canadian Pacics We're syrlpa- |
thetieally fat. Copper was strong, sta |
tistics again showing small supplies. Rio |
Tinto was bought from Berlin"