The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-03-20
MARKET IS uFELESS
On Uncertainty as to the
Cuban Situation.
BONDS EQUALLY DULL
Spanish Fours Lower on the
Paris BourSe.

New York, March 19.-The action or lack
of action of today's stock market can
only be interpreted as the natural refiec-
ton of the overshadowing OF the uncer-
tainty of the Cuban question. Last Sat
urday the threatening aspect of the stu
alton, coupled with the recollection Of the
developments of the preceding Sunday,
in the suggestion for the recall of General
Lee, led to reckless short selling by the
traders, driving the market to a point
even lower than the Monday market sue
ceeding the Lee incident. The pinching
administered to the reckless bears in the
rebound of last Monday made them ex-
tremely cautious about putting out short
lines in todey's market. Even the shorts
who were driven to cover in yesterdays
late furry over unwarranted rumors of
compromise with Spain did not venture
to renew their selling. The consequence
was an almost Hfeless market, as no one
IS ready to take the long side of the mar
ket at this time. Prices drifted aimless-
" I'D and down over a narrow range. On
ly a little over 100000 shares changed
hands during the days short session The
bond market was equally dull. The bank
statement showed an unexpected increase
in the surplus reserve. but the net in
crease in spcie by no mans reflected the
receipts of imported gold during the week
and the stock of legal tenders was mate
rally reduced. The lowering of the legal
reserve level by s1,S26,120 through the re-
duction in deposits accounted for that
much Of the increased surplus. The So
$50, 100 contraction in loans is clear enough
evidence that the heavy receipts of gold
from abroad are insufficient to maintain
ha hal
spite of the distinctly easier tone Of money
in the last days of the week.
FOREIGN STOCKS.
Paris, March 1s.-Spanish tours on the
bourse today opened at IS 5-16 per cent,
and closed at IS 3-16 per cent against
"a 1916 per cent, the closing price of
yesterday. The market was firm and then
easier. Information securities closed
level Rio tintos rallied and De Beers
mines declined.
New York. March s-The Evening
Posts London financial cablegram says:
THE stock markets were lifeless and
dull today. The China loan was moderate
ly well received. Americans were steady
on the New York lead, but there will be
no initiative here, pending the publication
of the report of the naval board of inquiry
on the Maine disaster. On the arrivals
here of the gold from Australia, am told
that full-weighted sovereigns are being
shipped to New York. The Bank of
Spain shows an increase at the credit of
the treasury of LILAC, 600 pezetas, s2,150,-
Oo0).
LOANS AND EXCHANGE.
New York. March I9.-Money: On call
nominal, per cent. Prime mercantile pa
per, 41z4514 per cent; sterling exchange.
steady, with actua! business in bankers
bills at S4.S3% for demand and at s4.SO1z@
4s04t for sixty days; posted rates, $4.Sl12
a. s21R and $.S41164 S515. Commercial
bills, S4s064. S0sz Silver certificates. $3.50
56A. Bar silver, 55A; Mexican dollars,
45c.
THE BANK STATEMENT.
New York, March 1S.-The weekly bank
statement shows the following changes;
Surplus reserve, increase IS, 1886. CPS; loans,
increase SIC. SIS. 100; specie, increase s., 211,
300: legal tenders, decrease 81, SOS. 500; de-
posits, decrease $7304, 900; circulation, in
crease S69. 600. The banks now hold $685.,
100000 in excess of the requirements of
the % per cent rule.
TREASURY STATEMENT.
Washington. March 19.-Today's state
ment of the condition of the treasury
shows: Available cash balance, 1928, 093,-
a24: gold reserve. s17l, O40 s26.
WEEKS EXPORTS AND IMPORTS.
New York, March 19.-The imports at
the port of New York for the week are:
Gold, Ss,2l4,O39; silver, s31,392; dry goods
and general merchandise. $9.172, PA The
exports of specie were: Gold, $40. 204; sill
yer S720 9q5