The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-07-07
MAKING / UNCERTAIN
Several Things to Keep Stock
Markets Guessing,
WHEN SPAIN C0LLAPSES
There'II Be Trouble Every
Where--NeW Loan.

New York, July S.-The sentimental eff
feet OF Commodore Schley's victory was
entirely dissipated today and the stock
market dropped back into the condition
OF lethargy and Of waiting for develop
ments that had marked for II some time
previous to this week. The quiet satsfac-
ton of the demand aroused by the news
Of victory is a striking demonstration of
the fact that the war is little taken ac-
count Of in the stock market. Many OBJ
servers believe that its successful termin-
alton has already been discounted and the
only development In its progress likely
to effect prices of securities would be
something unfavorable to the success of
the United States. The final collapse Of
Spain is felt to be inevitable, and the
longer the strain is maintained the greater
the damage that will be inflicted by the
final disaster. The bankruptcy of the
Spanish government must inevitable have
far-reaching effect in the financial world,
and is bound to be reflected in this coun-
try, even in the face of triumph and Of
prosperity; for forced liquidation will seek
the strongest market to realize in. The
effect of the government loan on the
money market is also an unsolved prob
lem and begets hesitation in specula-
tive ventures There is bound to be con-
tinued uncertainty as to the countrys
prosperity for the coming year until the
present crops are finally harvested, or at
lease until the dimensions of the crops
and the prices they will bring are known.
The expectation that naval victory
would weaken speculative activity aving
been disappointed, today's dull and slug
gish market was the natural outcome.
with the bears nibbling TO find weak spots,
but with so little success as to be led to
cover most short contracts before the
days close. Changes, as a rule, were
therefore small and unimportant.
The total sales of stocks today were
179, 100 shares.
BONDS.
The volume of business in bonds was
small and there was no important change
IN price Total sales were sl,7SS, 900.
United States new fours and the old
fobrs registered advanced 4 in the bid
price. New tours registered and coupon,
1874; tours, 100; coupon, 1O12; twos. IS;
fives registered and coupon, 11212; Pacific
skies Of 's5, 10t78.
FOREIGN STOCK MARKETS.
New York, July 6.-The Evening Posts
London financial cablegram says:
The withdrawal today from the Bank
of England of 10000 pounds in German
conf and of 1900 pounds for Holland, in
addition to $242 900 withdrawn yesterday,
has caused sharp rise in discount rates
and mokes the bankers skeptical of a fur
ther early reduction in the banks discount
rate. For this reason the stock markets
were dull and dropping today. So far as
Americans are concerned, operators here
are discouraged by the persistency with
which all stocks on any advance here.
I =faN fr1
underwritten, but not with eagerness; and
a large brewing amalgamation is an
nounced tonight with a capital of 1900.
OO0 pounds, over one-third of which is
asked for by Friday night
SPANS TOURS WEAKER.
London, July 6.-Spanish fours closed
at SO.
Paris, July 6.-Spanish tours closed at
go 90. Business was dull on the bOurse to-
day, owing to heavy realizations. Span
ism tours were principally weak. due TO
the announced intention of Spaniards TO
continue the war. Other shares were
higher.
Berlin, July 6.-Prices on the boerse to-
day were easier, owing partly to the an
nOunced resolution of Spain to continue
the war. International securities and
American securities were depressed owing
to many realizations.
LOANS AND EXCHANGE.
New York, July 6.-Money on call firm,
1GD115 per cent; last loan, III per cent;
prime mercantile paper, 12d3 per cent.
Sterling exchange, actual business in
bankers bills at 81 S51kq4S5A for demand
and at 81 S41aG4S4A for sivxty days. Post
ed rates. 4s5 and $4.S61kG4s7. Commercial
bills, $4.S31a Silver certificates. s5SG59.
Bar silver, 591s. Mexican dollars, 45Ia.
TREASURY STATEMENT.
Washington, July 6.-Todays statement
of the condition OF the treasury shows:
Available cash balance, S217, 30S, 269; gold