The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-03-09
SPANISH F((JRS GA|N
War Scare on the Stock Ex-
change Loses Force.
NET GAINS ARE NARROW
Markets Improvements in Its
Greater Confidence.

New York, March S.-The tone Of the
stock market was much improved today,
as compared with that Of yesterday, the
ground for the greater confidence in val
ues being the apparent desire OF the Span
ish government TO deprecate any idea that
they desired a rupture with the United
States on their owa initiative or that they
sought 10 irritate the United Safes gov
/ eminent into assuming the offensive. The
effect Of this was most clearly defined
in a sharp recovery in the price Of Span
ish tours. both IN London and Paris.
Americans also were much steadier on the
foreign exchanges, but there was moth
| ing in the early quotations from there 10
give a foretaste of the sharp advances
| ar the opening here. The market was
! quite aggressively strong during the whole
1 of the earlier part Of the day, but il is
| questionable whether this wasAele 20 any
! large amount OF buying for new accounts.
| That the short interest was largely in
| creased yesterday was easily to be seen,
and shrewd professional maniuplators
were able to discern this morning that
the market was in an over-Sold condition.
The favorable outlook in the relati<4
| between Spain and the United States
made the shorts nervous and there was
I something of a scramble to cover at the
| opening The manipulation for the rise,
| designed to uncover bear margins, and
! the keen demand at the advance proved
| the maneuvers to have been successful.
/ It did not require a very large advance
! to invite further liquidation and the last
i,hour saw prices fall almost to last nights
! point Covering by belated shorts caused
a slight stifening again in the final deal
/ ings. Outside Of the professional manip
ulation there was little doing in the mar
ket- Some buying was reported for Lon
don and Washington account. The con-
tinued movement of gold, the easier tone
of money, yesterdays furry being ap-
parently ended, a number Of dividend an
nouncements, and the statements that no
| bond issue will be made necessary by the
proposed appropriation of so, 600 for
national defense, were all factors toward
the more confident views OF the situation
Operations, nevertheless, were pursued
with caution, and a disposition was ap-
parent TO adopt a waiting policy. Net
gains, except in few Of the speciaItIes,
were confined TO fractions. The prices Of
Northwestern railway stocks were rather
conspicuousIy strong in spite of the con-
tinuance of the transcontinentaI rate war.
The Pittsburg. Cincinnati, Chicago and
St. Louis stocks were weak, the common
losing points, and the preferred "a
points.
The total sales Of stocks today were
$50, 100 shares.
BONDS.
Bonds showed strength in sympathy
with stocks, but resisted the late weak
ness in the market, except Kansas Pa
cifc consols, which lost all of the ear
lier advance, amounting to nearly points.
Total sales, s. 430 600.
United States new tours registered were
q per cent lower, and the coupons Z per
cent lower bid today. New fours 20;
coupon, 122; tours 10915; coupon, Ill; sec
onds. 9Sl2; fives registered and coupon,
III; Pacific skies. of 90. 1C3@.
FOREIGN STOCKS.
New York, March S-The Evening Posts
London financial cableCram says:
The market opened steady on the clos
ing Of the Consul-General Lee incident
but soon gave way on further heavy
forced liquidation, prior 70 the settlement,
and on the news Of the queens slight IN
disposition. Consols at one time were
quoted at 11024 per cent. There was a gen
eraI recovery at the close, led by Amer
leans on support from New oYrk. The
differences to be met at the settlements
are very heavy, however, and occasion
as at the last settlement. There is
small account, but the tone Of the mar
ket is fat. There was good buying Of
Americans this afternoon. I am told in
the best quarters that the issue OF the
Chinese loan will not be delayed. barring
serious political developments, which are
not expected. It viii probably be issued
on Saturday or early next week. Todays
sales Of eagles by the Bank of England
surprised the money market, which was
very firm. The bank raised the buying
price of French and German coin 10 75s
sd.
Paris, March s.-spanish tours improved
on the bourse. being quoted at - Ills.
against . 1852. the closing OF yesterday.
The opening was weak in response to TN
favorable London adyices. but prices re-
covered on a calmer view being taken
Of the general political situation.
LOANS AND EXCHANGE.
New York, March S.-Mouey-On cali %
c3 per cent; prime mercantile paper. 4d+I2
per cent. Sterling exchange. steady
with actual business in bankers bills at
81 S4is for demand and at &S1lz04s1a. for
sixty days. Posted rates, s. S2ls14S3 and
SASH Commercial bills, 81 S0lzI4N Sill
Yer certificates, 54d55. Bar silver. SIS:
Mexican dollars 4474.
TREASURY STATEMENT.
Washington, March S.-Today's state
ment OF the condition OF the treasury
shows: Available cash balance, so. -53. SIS:
sold reserve. sl6S. S421 35.
GOLD IMPORTS.
New York. March S-Ladeuburg. Thai
man q Co. announce additional gold i'm
ports Of $4,000 and the Guaranty Trust
OF $5G2H0 This makes the total amount
or, -sN r7-aza-,r ----~-a--z-- S-l - rra
deIbach, Ickelheiner & Co. announce the
engagement Of s55o.C.p in gold for shipment
from Europe. making the titai thus far
on the movement Sle.-Z5. o1). The steam
ship Ii GascoEne, sailing for Havre to
morrow. viii take out I15.J10 ounces o. sill
Yer. and the steamship s. Paul for South
amptoa viii take out 4539Jt ounces.
GRAIN L Nd RRnnIcE MARKET