The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-04-24
PRICES ARE ELEVATED
On the Stock Exchange, as
"Discounting Peace"
CLOSING Is BELOW BEST
But at Net Gains Throughout
Long War Not Expected.

New York, April 23.-Today the stock
market was "discounting peace" in the
language of brokers. This was done by
lifting prices a notch higher. The ad-
vance hesitated at the opening, owing 10
a reaotionary tendency in the London
there that the Paris had been captured
by the Spanish and the cruiser Topeka
sunk in collision. Wall street was in
credulOus as to the capture of the Paris
up TO the time OF the closing Of the ex-
change tnoon, and the identity of the
foundered vessel having been established
as other than the Topeka, the market was
relieved from that cause OF depression.
On the other hand, much was made of
che capture Of another Spanish prize by
the cruiser New York. There was re-
ported an active demand for securities in
London, but the buying mere for London
account was not large. as prices here
ruled about the London parity. There
were periods of reaction, but the publica-
ton OF the bank statement caused renew
ed buying and lifted prices TO the highest.
They were shaded off by renewed appre-
hension as to the safety Of the Paris. the
closing being easy below the best, but
at net gains throughout, reaching a point
in some cases. The volume of the deal
ings was not large the industrial special
ties being favorites in the trading, espe-
cially Sugar and Tobacco. The Spirits
stocks were also quite prominent. The
general feeling in financial cIrcies is that
the war is not likely to be protracted,
and only some unexpected accident or dis
aster could effect the conviction that
Spain must speedily succumb to superior
resources. A feature of the day was the
hardening in exchange, demand sterling
bills rising to $4s4 This rate, it is cal
culated, precIudes further gold imports
under present conditions. The total sales
of stocks today were 122, 400 shares.
FOREIGN STOCK MARKETS.
New York, April 23-The Evening Posts
London financial cablegram says:
There was a general recovery in the
stock market here today. led by Spanish
fours and Americans, on further bear
closing here and from New York. The
Paris bourse was also much better, except
in Brazils and Portuguese. which were
sold heavily. Brazil exchange is 5ll.
Americans closed under the highest on tie
reported capture of the Paris. which is
not believed ar Lloyds. New York is
said to have stopped buying gold for the
government but it is not believed that
the American demand is wholly over yet.
Money is plentiful here because brokers
abstain from investing freely in bills Dis
count is steady. despite the easy tendency
in money, because. even apart from poll
tics. it is felt that an enormous payment
to Japan in Chinese indemnity due on
May s. may impoverish the market
Paris, April 23.-Spanish fours closed on
the bourse at IS 3-16 The closing price
last night was IS lie.
Paris, April 23.-Stocks on the bourse
today improved from the opening. There
were purchases all around and a rally, es-
pecially in the price of Spanish tours. OPP
erations were not affected by the uncon-
firmed rumor of the capture of the Ameri-
can liner Paris. by d French warship.
Brazilian and Portuguese securities de-
clined on account of the continued depre-
citation in rate of exchange.
1oCA iliiT &APAlA AO.-NIp Clcitt tlA TIE
bourse here today were encouraged by the
attitude of the western boerses and pri-
ces were firm. Spanish tours recovered
sharply. American securities and Canad-
ian Pacific shares advanced.
LOANS AND EXCHANGE.
New York. April 23.-Money on call
per cent; prime mercantile
paper STA Sterling exchange. firm with
actual business in bankers bills at $4S4
for demand and at $4.S4 for sixty days.
Posted rates, s481Q4S4lz; commercial bills.
81 79ta4: silver certificates. 5514a55ls, Bar
silver, 557s; Mexican dollars. A.
TREASURY STATEMENTS.
Washington, April 23.-Today's state
ment OF the condition OF the treasury
shows: Available cash balance, 1920, 364, 81;
gold reserve, $50. 427,S7S
WEEKS EXPORTS AND IMPORTS.
New York. April 23.-Ex7orts for the
week: Gold. $500; silver. s6s7.1O5. The
imports were: Gold. sl00s3106; silver. 81
594; general merchandise. $9.77S.2i3
GRAIN AND PRODUCE MARKET