The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-05
PRESIDENT AND POPE
Are the Days Influences on the
stock Exchange

| Are the Days Influences on the
stock Exchange
New York, April 4.--The interest and
the principal activity in the stock mar
ket today was in the first hour. The bulge
al the opening was caused BY the scram-
bic 20 execute all buying orders al once
for several thousand shares in each OF
the leading stocks. The orders were
placed by frightened bears, who saw a
warning in the very buOyant tone assum-
ed b.. American securities on foreign ex-
changes and who had in mind the same
experiences of the shorts OF last Monday.
Upon the execution of this mass Of orders
al the opening. prices promptly sold of
again. The decline was arrested when
rather more than one-half of the adj
vance had been wiped out Transac tions
for the remainder of. the day were small
and fluctuations were narrow outside a
few special cases, and there was little OF
interest or Importance in the stock mar
ker- Notwithstanding the later weak
ness. gains Of from 70 over points were
saved for nearly all the active stocks.
The opening jump in prices was in SYM
pathy with the buoyancy OF Americans in
foreign exchanges. where the reported me-
diation Of the pope between the United
States and Spain was being viewed as
lance was enhanced by the fact that the
reports given out from Spanish sources
had it that the pope's mediation was Of
fered at the request OF the United States.
The sentiment for peaceful adjustment
which found favorable expression in many
pulpits in this country at Sundays reli-
giOus services tended TO give color 20 the
peaceful outlook. Professional stock ira
ders who were after the bears scalps were
also very busy disseminating an allega-
ton that President Mckinley had deter
mined TO embody a recommendation
against war or forcible Intervention in
Cuba in his forthcoming message. The
early view. 1t was soon believed, had ex-
aggerated the possibilities Of peace. The
official denial from Washington that the
pope had been accepted as a mediator be-
tween the United States and Spain was
potent in dispelling this view. Express
siOns by men in Washington who are
strenuous for firm action on the Cuban
question and who expressed their con-
tentment with assurances given them af-
ter having seen the president, indicated
the purpose OF the administration TO in
sist upon Cuban independence. Notwith-
standing these late revisions OF opinion
the active measure taken by the pope
was felt to OFFER possible means of in
fuencing Spain 10 yield TO the demands
Of the United States, especially as the
opinion Of the Vatican has been hereto
fore reported as inclined favorably TO-
ward the granting of Cuban independence. /
This constituted the sustaining force
which saved the market from a full re- |
action from its opening gains.
The total sales Of stocks today were |
% 300 shares.
PONnS
The bond market was dull and after |
opening strong prices eased of a little. |
but stifened again before the close. Total |
sales were 81, 725, coo
United States new tours, registered, ad- |
vanced IL per cent: the coupons rs per |
cent: the old fours. registered. per cent; |
the coupon and the fives. L per cent. and !
the twos declined p per cent bid. New /
fours registered, 1201z; coupon. 12I1s: fours /
10S1zd 1892; coupon. 10 and I1lz:
twOs. registered. 9712; fives. registered and .
coupon, 1111s; Pacific skies OF %. Io3
MEDIATION AND SPANISH FOURS. /
Paris, April 4.-There was a general ad- I
vance in prices on the bourse today, on /
account Of the reported mediation OF the
pope on the Cuban difficulty. Government /
securities were principally in favor, Span /
ish fours leading. Rio Tintos and De /
rallied sharply Spanish fours closed al /
% 1915 per cent, against 1915 per cent |
Saturday.
Berlin, April 4.-Business on the bourse /
today was cheerful in consequence Of a
report from Paris that the pope had been
called upon 70 mediate in the Cuban trou-
BILE. There was a very sharp rise in the
price Of Spanish tours and American Sc
curities in London. which stimulated trans
actions here At the close the tendency
was easier on realizations resulting from
the uncertainty as 20 the form OF the
pope's mediation and as to whether Il
would be accepted.
New York, April The Evening Posts
London financial caplegram says:
The stock markets here opened strong
today on the report that the pope was
nediating in the Cuban affair. and on the
securing OF Chinese ports by England.
Spanish tours rose to 5iLk per cent. A gen
aral reaction followed on a disbelief that /
the p0pe's mediation had been sought By
the United States. The buying Of Amer
cans was rather extensive today but il I
vas not influential Tor discriminate {
Mines were better, Rhodes return and /
the forthcoming meeting Of the Chartered
company galvanizing the markets lit
lie.
LOANS AND EXCHANGE.
New York, April 4.-M0ney: on call
1ominaily 70 1 per cent. prime rue-cau-
tile paper, : 70 s. Sterling exchange
steady. with actual business in bankers
bills a. s. s51z14 S5a. for demand and a.
itSl for sixty days Posted rates. SSH.
= and s. s2l-d4.s5; commercial bills.
4 so. is1i4. Silver certificates. 55Sa5slt-
Bar silver. 55iz. Mexican dollars. -
GOLD IMPORTS
New York. April IL Won Hoffman &
% have engaged Sz75.10] gold for import
Blair q Co. soon. and Kuhn, Loebe <
Co have added 5000 more 10 their gold
gagsments-