The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-06-05
CLOSE 10 TOP PRICES
Are Stocks at the Close, Which
is Active and Strong.
LONDON is A GOOD BUYER
Large Increase in Money Cir
culation Noted.

New York, June 4-There was no trace
left today Of the reacuonary tendency
manifest in the stock market late yester-
in two ways. First. the adoption by the
senate of the section OF the revenue bill
authorizing an Issue OF bonds and trea-
sury certificates; second. the professional
SPECTATORS who sold stocks and took their
profits early in the week and were anxious
10 get them back at lower prices. The
second explanation is more likely TO be
true. 1t was evident before the opening
OF the market today that II would be diff
ficult 10 effect any further decline IN
prices, as London had advanced Aneri-
cans large fraction all round. London
made much OF the action Of the senate
adopting the bond provision and was also
Influenced by the persistent rumors from
Paris, and even from Madrid. that Spain
was seeking a way OF peace. Paris
bought Spanish fours heavily on this ru-
NOR and affected a sharp advance in the
price. II is probable that the buying of
Americans in London was in part cabled
orders from the New York purchasers too
account was taken of the reported sink
ing OF ana merican ship at the mouth OF
Santiago harbor. as it was accepted as q
measure for blocking the harbor. The
rumor of the destruction Of the Spanish
fleet had more effect and prices advanced
buoyautly all through the list.
When the bank statement first appear
ed there was some pressure 10 sell by
traders who make 1t a rule to always sell
stocks when the banks surplus reserves
show a decrease. But a better analysis
Of the returns soon led to renewed buying.
The US eof money reflected in the loan
expansion is a healthful feature Of the
business outlook.
The closing was active and strong ar
near top prices, net gains in the case Of
most active stocks ranging between l and
points and in exceptional cases above
that.
Attention is attracted by the govern
ments statement of the amount of money
in circulation in the country on June /.
which is stated al s1,Si4. 9S2, O26. exclusive Of
the holdings of the United States trea-
sury. This is circulation psr capita Of
$24. %. The increase in the circulation in
May alone was s33. 1856. S14 of which s32. 533.-
81 was in gold. For the year the circu-
lating medium was expanded $50, 1874 361.
and of this S129. $40 95S is OF gold. The
country's net gold imports of nearly $780,
600. 900 in liquidation of the trade balance
appeares in the circulation. But what mis-
amount of net imports of gold comes any
where near effecting a final settlement
of the trade balance Of the year is not
conceivable. The trade balance for the
fiscal year in our favor will certainly ap-
proach near $500, 900. compared with
the greatest previous favorab BILE balance
of less than $500 100000.
Total sales of stocks today were ESQ 200
shares.
BONDS.
Bonds have distinctly shown the broad
ening pressure of idle money. seeking en-
ployment in enlarged business and higher
prices United States new tours have ad-
vanced II, the old tours coupon /. the
twos r. the fives registered p. and the
fves coupon Il per cent in the bid price
New fours registered and coupon 123;
tours 1OS 10: coupon III; twos % 1-2; f1ves
registered Ill Is coupon IL; Pacific SKIES
of 80. 100 1-2.
RISE IN SPANISH TOURS.
Madrid, Jrue 4.-Spanish fours closed
at $3.50. God was quoted at 70.
Paris, June 4-Firm prices prevailed on
the bourse today. The alleged small sue
cess Of the Spanish feet at Santiago de
Cuba caused many re-purchases Of Span
ism tours, which favored other interna-
tionaI securities Spanish fours closed az
IS. a net gain Of 9-l6.
Berlin, June in the boerse here today |
securities were firm. The
buoyancy Of Spanish tours was special |
feature and was occasioned by ths an |
nouncement OF the payment OF the next |
coupon in fun and in gold American !
securities weakened and Canadian Pacific |
was maintained.
FOREIGN STOCK MARKETS.
New York. June 4-The Evening Posts /
financial cablegram says:
The stock markets here were quiet 1
The tone was steady, but consils and In !
dia issues we're a shade lower Il IS said !
that conso1s have been sold by holders /
In order TO release funds Tor the purchase
81 The new Greek loan recently Issued.
ard which is being sold 20 London a; !
about i per cent premium There are
rumors that a large Indian loan IS immi-
nent but .he rumor IS probably preua-
,ire. There was quite large buying %
Americans. Americans we're steady ard
quiet and mostly above the New York
parity Spanish bonds we're strong. The /
London money market IS ~"
New York. June A-Ths weekly bark
Statement; shows the following changes;
Surplus reserve. decrease 21-f54.ao5. loans.
Ecreass 81 e9o 80. specie. increase 1850
20. legal tenders. Increase izss.a 30: dsPoa-
IS. increase - gi3-2oo. circulation. De-
.-ease 3. 80. The banks now nod -
a. 20 n excess OF re requirements q toe
5 per cea1 Tu.e.
TREASURY STATEMENT.
washington June 4-T3iay's statement
z he condition q the treasury Shows