The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-06-16
DILL and Downward
Speculative Leaders Give the
Market its Head.
TO AWAIT DEVELOPMENTS
New Bond Issue as Regards
the Money Market
TO AWAIT DEVELOPMENTS

New York. June Representative observ-
ers who argued that the two days reac-
ton OF the stock market has been due 10
The apprehension OF the effects OF liquida-
tions consequent upon the collapse Of the
wheat deal were disappointed today. The
pressure upon the market from that source
was practically removed by the an
of cash wheat owned by the defeated
wheat spectators had been taken over oy
powerful financial interests who had been
able TO save Il from being sacrificed az
forced sale. The course of the wheat mar
ket very plainly indicated the termina-
ton of the crisis. but there was no move
ment 10 advance prices OF stocks. Ap-
parently the leaders Of speculation have
arrived al a. mutual consent 10 LEI the
market take is course Tor teh present
without further manipulation for rise
The course Of prices was consequently
downward in a rather dull market tx
treme declines Of point or over were reg
istered in most OF the active stocks dur
ing the day. Sugar was the center OF in
terest and dropped persistently TO the last,
closing only i above the lowest with
net decline of over points. The expecta-
ton of a favorable vote on the Hawaiian
annexation bill was the motive assigned
for the selling The stock was traded in
ex-dividend. The embarkation OF the army
for Cuba added 70 the possibilities of i
setback in the campaign which would
also hurt the stock market II II were 10
occur. This and the approach OF the crit
ical period of the crops served 10 en-
phasize the waiting disposition OF specula-
s.rrf
ofthe bond issue were also advanced by
the bears. But it is probable that the
banks and large hnanciers already have
in hand the funds which they expect TO
put into the new bonds. II is evident that
the banks and capitalists are preparing
10 take all of these bonds they can get;
that is, all that is left after the small
subscriptions are allowed. If they get
what they expect the bonds they secure
will be used for circulation and thus sup
ply the money market If the popular sub
scriptions, on the other hand are larger
than expected the funds accumulated by
bankers and capitalists 10 buy the bonds
will be released to the money market.
The total sales of stock today were 367-
400 shares.
BONDS.
Railroad bonds were heavy. in sympa-
thy with stocks. Total sales were ST.
900 600
United States old tours coupon advanced
/? per cent and the registered q in the
bid price. There were sales Of the new
fours coupon at an advance OF rs and
of the fives coupon at an advance OF Is
over the preceding sale. New tours reg
istered and coupon 1874 tours. 1851; coupon
10: twos. %; fves registered III; coupon.
111l.. Pacific SKIES OF 90 lOl.
FOREIGN STOCK MARKETS.
New York, June 15--The Evening Posts
London financial cablegram says:
THE stock markets here were Idle and
featureIess today. but steady on cheap
money, which favorably affected consols-
Americans were quiet but irregular. No
activity is looked for in this market until
the end of the present account. Official
details Of the Brazilian funding scheme
are published here tonight. They are az
previously cabled you.
There IS some inquiry for gold for ship
ment to New York, but no actual deal
ings. The price has risen TO rs 1od-
/ 1T IS believed that many applications
! NAV go from here for the United States
war loan.
Spain Is again buying silver"
SPANISH FOURS HIGHER.
| London. June 15.-Spanish fours closed
at 941l. one-sixteenth higher than yester-
days final prices.
/ Paris. June 15.-Spanish fours closed az
( 81 9-l6. a net gal nof 5-l6. At the outset
/ on the bourse today rentes were offered
/ in consequence Of the change in the cham
( Der Of deputies and owing to the rumor
! that the French cabinet had resigned
I Later they were quiet and closed firm
( Spanish tours were steady and foreign
I securities were weaker. due 70 fears Of a
new ministerial crisis At the close Of
! the bourse Spanish fours were weaker
/ Berbiln. June 15-Business was dull on
! the boerse. due 10 reaIizations In most Of
/ the departments.
/ LOANS AND EXCHANGE.
New York. June 15--NOOn-Noney on
call nominaly AZ 1Ad1R per cent Prime
mercantile paper, to ! per cent. Sterling
( exchange. heavy. with actual business IN
bankers bills at 81 s5l4Q4 ~ for demand
/ and at 81 S3st 81 for sixty DAYS. Posted
rates. ss5d4 s5iz and g s6iz74 81. Com
merciaI bills. 81 o1z64s3 Silver certia-
Gates. 57z. 75Slk. Bar silver, 53i+- Mexi-
can dollars. 45t4-
TREASURY STATEMENT.
washington June 15.-TOdays state
1aent OF the condition 81 the treasury
shows. Available cash balance, IS, s.
49,. gold reserve .is4574.2I5.