The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-27
PRICES SWING ALOFI
Just About Retracing the De-
scent of Monday.
EXCHANGE RATESADVANCE
Being Carried Well Above the
Gold Import Point.

} New York, April 26.-Prices Of stocks
swung lazily upwards today, covering
about the same range as in the downward
| course of yesterday. 1t was traders
market, as was that of yesterday. No OPP
/ era tons on a large scale were ventured
upon, nor is there any outside interest in
! the market aside from the desultory buy
( ing of small lots through commission
/ houses. The days advance, however, soon
put a stop even TO this, as the bidding of
| this character comes from bargain-hunt-
! ers whose orders are placed upon u scale
of prices downward. The market was so
narrow that the buying for London ac-
count was quite a conspicuous feature.
though in itself somewhat restricted.
This buying is rather significant in spite
| of its somewhat small volume. IT was in
duced by the declarations of neutrality
on the part of Great Britain and France.
and intima tons of a similar attitude soon
to be adopted by other powers. The de-
mand for Americans in London was stimuli
lated also by the strength of the general
markets, which were active and strong
on the easier money conditions. This
strength REFLECTED from London was suf-
ficient to induce the local traders 10 take
there was no reaction of any note during
the day, none of the prominent stocks
made large net gains. fel less active
stocks showed conspicuous movements.
Spirits preferred rose Sla and Delaware
and Hudson and Detroit Gas, points
each. Sugar, Tobacco and the grangers
made up the bulk Of the dealings.
The money market continues to attract
interest and attention. Reserves continue
to be pretty closely held against future
contingency. The demand from the inte-
rior for currency, which had almost ceas-
ed last week, has regained some force.
It is impossible to forecast how far this
demand will go. and It Is the handspring
of the situation. The United States treas
ury has given notice, in effect. that II
needs all of its supply Of small currency,
and the local banks are obliged TO meet
the demand from the interior almost alto
gether by shipping gold. This is likely to
act as a check TO that demand. for bills
are desired rather than gold coin. There
was another advance in the rate OF ex-
change today carrying 1t we'll above the
gold import point. The rate Of discount
in London and Berlin was also quotably
lower today. Both OF these quotations
reflect a subsistence of apprehension here
Of the likelihood of any stringency. Prob |
ably government payments for purchases |
of war material made abroad the not |
without some effect in giving strength to |
the market.
The total sales of stocks today were
127, 600 shares.
BONDS.
TIE bond market showed weakness early |
in the day. and there were later recover
ies in some cases. making the net chang |
es mixed Total sales were s1.110000.
United States old tours declired y per |
cent in the bid prices. while other issues /
were unchanged.
FOREIGN STOCK MARKETS.
New York, April 26.-The Evening Posts
London financial cabegram says:
'TOday's markets generally were bet
ter, an upward movements being led by
consols and similar stocks on the large
arrivals of gold. Spanish and American
securities were Comparatively neglected,
but Canadian Pacifcs and Grand Trunks
have been bought on rumors of a speedy
end Of the rate war Americans closed
firm. Spain is said to be buying silver in
London, but I cannot confirm It. The Paris
market was steady, but it 81 believed here
that the steadness is deceptive and due
to the Fnech financiers making desperate
efforts to face the severe losses entailed
by the fall of Spanish stocks. The Ber-
lin market was dull on gold exports and
Spanish exchange was quite nominal
Paris, April 26.-Spanish tours closed at
"a 5-16. net loss Of 5-1s from yesterdays
closing prices. Prices opened weak on
the bourse today and declined. There was
little business done. Towards the close
OF the market. however. there was a re-
covery and prices closed firm. in response
TO London advices OF the prospective large
inhoat OF gold into the Bank Of En-
gland.
Berlin. April 2s.-Prices were firm on the
boerse today. and international securities
were maintained Mexican securities har-
dened on the declaration of neutrality.
Northern Pacihcs advanced and Cana
dian Pacifcs rose sharply on London ad-
vances.
LOANS AND EXCHANGE.
New York. April 26-Money on call NOM
nally 2 to 3 per cent; mercantile paper
5d7 per cent; sterling exchange strong.
with actual business in bankers bills at
81 4iA0G4% for demand and az 81 SKA
1929. for sixty DAYS. Posted rates. 81 slts /
and A.s564 $50 Commercial bills. s4sGis.
Silver certificates, 10000 ounces. sold at
>.
TREASURY STATEMENT.
Washington. April 2S-Today's state
nent of the condition OF the treasury:
Available cash balance 1919. 81. ISL; gold
reserve. 1875. $50. 9l2