The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-15
STAYS FIRM AL DAY
Professional Buying so Effects
the Share Market.
NEWS FROM THE SENATE
Gives the Bulls all the Argu-
ment They Need.
NEWS FROM THE SENATE

| New York, April 14.-There was profess
the market a firm tone all day. The ex-
treme advance from the low level at the
opening was a point or over in most Of
the stocks, but the gains are less than q
point except in few cases. The profess
sional buying was more or less Influenced
by the very ostentatious espousal Of the
bull side by large and daring operator.
in published utterances and by distr1bu-
ton of buying orders. The following thus
invited was insufficient TO prevent an ad-
vance Of prices in a very narrow market.
in spite of the depressed sentiment re-
ported from foreign exchanges. This de-
preston was reflected at the opening hour,
but was soon overcome by the bull move
ment. The bears seemed to be very active
on the London exchange, especially IN
Spanish tours. and the fact that they
were forced to cover helped the bulls IN
New York in the later dealings. The bull
movement is based on the argument that
a protracted delay in the senate over the
intervention resolution is likely and that
if the senate resolution is adopted there
will be further delay in the conference.
The president is credited with having eX-
pressed his preference for the house reso-
luton and the bulls prOfessed TO believe
that if the senate resolution was sent TO
him il would fail of his approval All Of
these possible complications are placed as
furthering the chances of delay, and de-
lay, to the minds Of the bulls, means add
oh 70 naacefrl1 GpffIpTO p0r-
One of the possible plans of settlement
suggested by the bull party was the sale
of the island of Cuba after the meeting
of the Spanish cortes. a large part of the
days activity was centered in Sugar, the
grangers and Union Pacific preferred.
Prices fel from the highest in the last
hour on the report that the Spanish min
ister was preparing to leave Washington.
Tobacco fucutated violently. but ad-
vanced at one time nine points The keen
borrowing demand for the stock indicated
acute distress on the part of the shorts,
against whom the movement was direct
ed. Rates for call money eased off TO
per cent this afternoon and only $3.50 900
of gold was engaged for import. The rise
of London exchange in Paris and Berlin
in response to the stiffening of the Lon
don discount rate was followed today by
lower rates for continental exchange in
New York, indicating that the pressure
for gold is being shifted from London TO
the continent The demand for cash by
interior banks TO strengthen their re-
serves against the contingency Of war
continued undated and the supply of
legal tenders has become so depleted that
New York banks are likely to offer gold
to supply the interior demand if it shall
continue.
Business in the bond market was con-
fined to few speculative issues and pri-
ces show neibt declines. There was a sale
of a block of $4,000 of Union Pacific tours
at 90 the low point. Total sales were
81 275,Oo
United States seconds and the old tours
coupon declined /. the old fours register
ed and the new fours p. and the fives
a per cent each in the bid price.