The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-13
WAR NEWS UNSEInES
Wall Street Suffers a Reaction
From Wednesday
of A POINT OR MORE
Are the Declines in Many
Prominent Stocks.

| New York, May 12.-The natural reac-
ton from yesterdays buoyant tendency
in Wall street was supplemented today by
a consequence Of which prices generally
ruled below yesterdays level all day The
speculative world apparently took a rather
! serious view OF the affair at Cardenas.
In spite of all assurance that the loss in
Cured was trivial from a military stand
point. the shedding of first American
blood had a depressing effect which no
amount of reasoning could destroy. There
was. besides this, an unsettling convic-
ton that yesterday the Spanish Cape
| Verde fleet had certainly returned TO home
waters. A reaction in Spanish tours in
London and Paris also dissipated some of
the impressions that the recent advance
foreshadowed a move toward peace by
! Spain. The absence of authoritative re-
/ ports from Admiral Sampson and his
/ fleet induced some hesitation among street
/ dealers in stocks. There was in addition
/ depressed market for Americans in Lon
7 don before the opening here, and there
was free selling OF the international
/ stocks for London account during the
early trading. II was not surprising, in
| view of all the conditions. that bears
should be encouraged to attack the mar
, ket. Such a stubborn resistance was
4 shown. however. to the first dip of prices
that extreme caution was developed about
putting out short contracts. The market
displayed an equal reluctance TO advance
11,itb Of T-iU inc nv
shorts in the late dealing overcame por-
/ ton OF the losses, but net declines are
point or over in many of the prominent
stocks. There were special stocks scat
/ tered through the list that maintained a
I show of strength. notably Consolidated
/ Gas. which rose buoyantly at one time
! points. The Union Pacific, Denver and
/ Gulf securities, Rock Island, the Cotton
/ Oil stocks and some Of the high priced
/ investment stocks were notably firm. The
volume of business was not much reduced
! from yesterday and the market was ex-
! tremely feversh and irregular all day.
Total sales of stocks today ABS 800 shares.
BONDS.
The bond market was less active outside
Denver and Gulf fves and with a few
exceptions displayed heavy tone. Total
! sales were s., $50, 00O
! United States new fours advanced q
/ and the old tours registered Il per cent in
/ the bid price. Others were unchanged.
New tours registered and coupon 1221a;
| tours. 1857, coupon. 1922; twos, 50; fves
registered and coupon, 110&4; Pacific skies
of 80, 1o3.
FOREIGN STOC KMARKETS.
| New York. May 12.-The Evening Posts
London financial cable:
1.-THE stock market here was fairly good
today. but less active and confident. The
settlement has been satisfactorily conclu-
ded Americans were sold from good quar-
ters but New York appeared to absorb all
the stock offered. Spain is buying silver;
hence the rise. 1 understand that the
Bank OF Paris which advanced the money
for the Spanish July coupons. is financing
the silver operation. 1 must emphasize
yesterdays dispatch about the view of
bankers here relative to the French polit-
ical situation in West Africa. Details Of
the gold movement for the week show the
purchase of $4,000 pounds in foreign coin,
the receipt of 25S,OOO pounds from Ger
900 pounds from Austria, of 50, 900 pounds
from Egypt, of 1000 from Portugal and Of
5 900 pounds from Roumania. and the ex-
p, Of 5000 pounds from New York. The
Fl nness Of the London market is due to
the caution Of the lenders, in view of the
inquiry for money in connection with the
large borrowings at the Bank of Berlin"
SILVER ADVANCES.
London, May 12.-The firmness OF silver
today was due to the report that a French
agency has placed large orders in dis
guise for Spanish account. Silver ad-
vanced SIS today. The closing price yes
terday was 26h
SPANISH FOURS LOWER
London May 12.-4 p. m.-Spanish four
closed az "a. a net loss Of 3.
Paris. May Pa ?. m.-Spanish fours
closed at "a 1-16. Ills lower than yester-
days closing quotations Business on the
bourse today was irregular. Prices opened
fairly firm, weakened on numerous sales
for London account; rallied and closed
steadier italian securities mak a good
recovery. Spanish tours fiuctuaced con-
s.derably and closed at the lowest price.
on the prediction that President kruger's
approaching speech would be unfavorable
to the mining interests OF the South Afri-
can republic.
Berlin, May f2-Internauonal securities
and Americans were firm on the boerse in
response TO the tone OF the western
b5urses. Italian securities are improv-
ing.
LOANS AND EXCHANGE.
New York. May 12-Money on call nom
iaally at 2G2l2: prime mercantile paper.
5izas per cent. Sterling exchange firm.
wiki actual business in bankers bills a,
Sis4a4S5 for demand and At Hs11z for
sky days: posted rates. 81 SEA- s5i4: com
mercin bills. s4S& <sL Silver ceraA-
Gates, 57a7s- Bar silver. 3; Mexican dol
lars, As
TREASCR YSTATEMENT
Washington. May I2-Today-s statement
OF the condition Of the treasury shows:
Available cash balance. s-9s Isl %; gol3
reserve. sl7s.o76.sH