The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-08-04
INFLUENCE Of PEACE
On the Stock Market is Rather
ProbIematical.
GOLD IMPORT MOVEMENT
Railway Bonds in Demands
Spanish Fours Up.

| New York, Aug. 3.-There was no great
! outburst Of speculative enthusiasm in the
stock market today as a result Of the
peace news. The market broadened out
materially and was confidently strong all
day, but inquiring observers feel consld-
! cradle doubt whether the peace prospects
had much 10 do with the rise. OF muca
more effect is the generally growing con-
viction that the dullness OF the local
money market Is not at all due TO sluggish
trade conditions, but rather 70 the aoun-
dant supplies OF money at interior pola-s
20 meet the requirements OF expanding
business and the movement thus Tar OF
the crops. Yesterdays gold imports re-
suited in stiffening foreign exchange and
In appreciaoly easier money rates Tor
time loans. Exchange exporters are not
able to figure any profit on the gold I'M
port operation at the present level Of fu-
ture conditions. II the importers antici-
pated higher money rates abroad they
probably would leave their funds there
without drawing the exchange. Il seems
doubtful, also, whether the present low
rates on money here would themselves
invite such an operation Prospects or
an enlarged demand through awakened
bushes sactivrty must be looked TO 20 g
plain the present gold movement The
general tenor Of talk heard il Wall street
i. all Of expected increase Of trade and
Industrial expansions. The growth Of the
west-bound freight movement and favor
able reports from experts in the different
trades are accepted against the shrink
age in the grain movement and result
ing decrease in some Of the western roads
Statements of earnings for the fiscal year
Cd u ana 81 Z
with the month Of July and the heavy
outloy for the betterment and improve
rnents shown by these exhibits. indicating
possible economies in the future, serve TO
neutralize the decrease in current earn
ings The general view IN the street is
Enthusiastically bulIish. The general
strength OF the market was taken ad-
vantage of to realize profits in some OF
the recently manipulated industrial Epe-
cialties, but there was q broad and com
prehensive demand for the standard
stocks. the grangers and the favorite d.
vidend-payers leading.
Total sales Of stocks today were 322,
100 shares.
BONDS.
Dealings in bonds were active and dis
trfbuted. feature of the day was the
rise 10 par OF the Northern Pacific tours.
This is one of the large class OF similar
bonds issued recently for re-organ.Za-
tons which have been favorites in the
bond market. The Northern Pacific mort
gage is the first of them to rise 10 par
There was very large absorption CT
other railroad bonds, which have been
gaining added security from the largely
increased earnings by railroads in the last
fiscal year. Total sales, s5.575,000
United States tours, the fves and the
old fives advanced L, and the threes,
when issued. Il in the bid price. New
tours, registered and coupon. 1271.; tours,
11124; coupon, 11I14 seconds. 81; fves. reg
istered ia; Pacific skies Of 's9, 1O2A.
FOREIGN STOCK MARKETS.
New York. Aug 3.-The Evening Posts
London financial cable gram says:
The market shere were quiet today,
bur of a good tone and prices were well
maintained. The principal feature was
the rise in such foreign stocks as Spanish,
Egyptian. Brazilian, and Argentine. Span
ism securities were largely bought on
Paris orders.
Americans were IN good sympathy
with the rise in New York. There were
some professional buying here. Prices
closed at about the best. Grand Trunks
were steady in spite OF bad traffic returns
The best quarters look for further gold
shipments 70 New 1Ork NeNeTt QeleSS,
London discount rate IS a tri1e easier be-
cause of the plethora Of money, the sc4rci-
~ OF bills and the steadiness OF CONT
mental exchanges"
London. Aug. 3.-Spanish tours closed at
AS, a net advance OF "a.
Paris, Aug. 3.-Spanish fours closed a.
Il IS. a net gain of 10 Prices were very
firm on the bourse today. Spanish fours
absorbed attention. closing with a sharp
advance on the report that Spain has
accepted the peace terms of the United
States. and that the question OF the Cuban
debt has been arranged. The whole
Spanish group was firm and active. favor
ably influencing international securities.
Berlin. Aug. 3-Business on the boerse
today was quiet and prices had a tend
ency to be firm. Spanish fours advanced
on western advices. Canadian aPcihcs
were cas- er on realizations.
LOANS AND EXCHANGE.
New York. Aug. 3.-Noon: Money on
call nominally at IL 70 II per cent. Prime
uercantile paper. So 10 per cent. Stsr-
hing exchange steady, with actual business
in bankers bills al s. S a. S514 for demand,
and at 81 s2i234s3& for 50 days; posted
rates 4s4I.64 - and 81 S6E4 sslz; CONNER