The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-02-09
WAR SCARE Returns
Stock Market Gets News, Late,
From Washington
CLOSES AT THE WORST
Large Bond Dealings, With an
Upward Tendency

New York, Feb. S.-The stock market
succumbed to the war scare today in spite
of London's indifference TO the fears re-
fected by the New York exchange of a
rupture between the United States and
Spain. The strength of American securi-
ties in London was partly accounted for
by the progress of the periodical settle
ment of accounts on tina exchange. Prices
We're bid up sharply there before the open
ing her and resulted in a sympathetic rise
in international securities at the opening.
Not only wos this the case, but when
heaviness developed here London was a
liberal buyer at the decline and was a
very important factor in sustaining prices
during the forenoon session. Americans
were in demand in other foreign bourSeS
and from Frankfort comes the report that
they were the features and the sustaining
force of the market. Denver and Rio
Grande preferred was the favorit with
London and II was able to hold substan-
tial gain TO the close, conspicuous ex-
ception in this respect. Quite number
Of stocks developed aggressive strength
at one time or another during the day.
Metropolitan Street Railway rose at one
time 4 points, but fuctuated feverishly
below that in the final dealings. Michi-
gan Central, Northwest, Omaha, Pull
man, Lake Erie and Western preferred
and a few less conspicuous stocks were
at one time over point above last nights
close but the gains were practically eradl-
Gated. Early weakness developed in the
Union Pacific stocks and Norfolk and
Western preferred was keenly affected
by profit-taking. Manhattan also broke
IL points early in the trading, but showed
q better tone later. General Electric and
Pittsburg, Cincinnati, Chicago and st.
Louis were also heavy. The earlier week
ness of the market had been to a large
extent overcome by tn strength in special
stocks when the news pas received of the
resolutions proposing Intervention in
Cuba, which were introduced in the SEN
ate. This broke the market in the final
hour, and resulted in the most severe
shaking out since the Maine was sent to
Havana The covering of shorts made
but a feeble rally and there was dis
position to liquidation before the close.
The money market weakened apprecia-
bly, today, call loans being made at per
cent.
The sharp rise in sterling exchange Of
&c in the actual rates and of 12c In the
posted rates is probably attributable d.
rectly to the weakening of the money
market.
The total sales of stocks today were
$50 400 shares.
BONDS.
Dealings in bonds continued very large
today. but there were no individual trans
actions of such magnitude as yesterday.
The general tendency was upward III the
early dealings. Prices yielded to some eX-
tent with the break in stocks. Total sales
were s.. 77500O.
United States new tours advanced Is per
cent bl1.
FOREIGN STOCKS.
New York, Feb. S.--The Evening Posts
London financial cablegram says:
THE stock markets here are quiet dur
ing the progress of the settlement, which
shows a larger account than expected,
notably in Americans, where the contain
goes are to per cent. They would be
higher but for the comparative scarcity
of stocks. After a distinctly firm tone
during the day, Americans and Grand
Trunks closed under the best.