The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-10
AFFECTED By WHEAT
Which Is Selling in the New
York Market at Sl.90
STOCK MARKET ADVANCES
Except For Profit taking and
Other HinderanceS
STOCK MARKET ADVANCES

some points OF its strength TO the extraor-
binary course OF prices in the wheat mar
ket. With May wheat selling IN this mar
ket at $3.50 bushsl before me middle OF
the month and with July option almost
keeping pace with IL there IS assured
promise Of abundant increases Of wealth
for this country.
The outbreak OF violence and OF blood
shed in Italy ana Spain on account Of the
dearness OF bread and the advancing price
for that necessary at other points in
Europe areonIy coo convincing evidence
that ehehigh prices for wheat are not
due 70 speculative manipulation, but 10
the urgent need OF foreign consumers.
With this demonstration OF che couRtrys
potential command OF wealth II was na-
turaI MAT prices OF securities should con-
tinue to advance. But the market had to
carry the burden OF an extensive liquida-
tton OF profits in many stocks and OF
large selling for foreign account induced
by the stiffness OF money rates aboard
There was. besides, positive depression
IN sons OF ne stocks which are Usually
prominent IN the market With three such
conspicuous leaders as Sugar, Manhattan
an aMetropolitan street railway suffering
from special causes of weakness, IL was
natural that some slight depression should
radiats from them through the list There
was a hating tendency manifest even In
some OF che grangers, notwithstanding
the special advantages TO Them from the
active demand for wheat and corn Rock
Island showed the most notable strength
Of any railroad stock. and 81. Paul was
also well sustained. Otherwise the grang-
ers were q good deal weighted by profit
taking sales. OF the iternaionai stocks
Louisville was about the only one outside
OF St. Paul to show positive strength
wabash preferred and Atchison preferred
were advanced sharply on hetavy buy
ing. but the former lost most OF the gain
There were some sharp gains shown In
a fe wother cases, notably Peoples Gas
and Pacific Mail. Tobacco lost all Of its
gain before the end OF the day. There
was a general downward movement in the
whole list on prolt-taking and bear e1-
tremeIy irregular. Prominent stocks are
found showing sharp gains, and others
equally prominent show marked losses
The days business was the heaviest since
last fall. The total sales OK all stocks
reaching go, 200 shares.
feature OF the day was che sharp ad-
vance of a cent in Sterling exchange Not
only the easier tendency OF money here,
but the large demand for exchange Great
ed yshe selling of stocks for foreign Ac-
count had to do wit hthis advance The
sales for foreign account reached over
30 600.
Total sales Of stocks today were 80. 100 |
shares.
BONDS.
The bond market shared IN the activity /
Of stocks and was strong throughout /
Total sales So 10000.
United States new fours advanced =. /
the fves and old fours coupon u. and /
the old tours registered u in the bid /
price
New tours registered and coupon i22i.: /
fours 1854. coupon 1914; seconds IS; tours
registered and coupon 1l014; Pacific sizes
of So 1O3.
FOREIGN STOCK MARKETS.
New York. May s.-The Evening Posts
LONDON financial cablegram says:
'"The stock markets hers opened duh
today bat rapidly improved The recov-
cry was led BY a marked improvement
in foreign boursee. notably in Paris. a
ruuror spread that Spain was asking thu
powers % interviews. Nothing definite
was known, but the oCing was so good ]
and general that color was given 70 the /
report. II must be remembered. how
ever, that the settlement VIII begin TO
morrow: therefore much q the i'm
provement IN prices IS due 70 bears COW
ering.
Interest today eentersd n Americans,
in which the business wss unusually
heavy. The firm prices IN New York In
duced realizing here which the arbltraEs
dealers readily absorbed. Subsequently.
the buying became more general th-
prices closing at the best Operators have
apparently made up their minds that The
war viii not interfere with Americans.
while the recognized rise IN wheat adds
20 the spending power Of The United 1
States.
Spanish rours OPENED az 5osk. declined /
TO 2sN, bu. advanced rapidly TO 2ztA- OF
covering By bear spectators n snticipa-
ton Of the coming exchange settlements
Their net gain for the day vas -
points The advance was assisted BY
uaconfrue6 rumo-z that money was n
hard FOR ne payment ~ the July coz
pon. Today's weekly report % the Bsuk
OF Spain shows decrease of s1775.ao9
p~s4tas ~ s55 o010 silver coin ard Al IL
crease of is.sS2 no pssstas Cszs5{o 800 n
There vas sharp rise n Brazilian
stocks TIE OILY feature n re mining
sattierz - ttossv vas an indication q /
revival % activity 81 Katfrs. TIE nno-eT
rates tozor-ow Vii probably - TIE
sa-7s as az TIE prsvior.. settlement
"Ths secsl-s C ~ points 81 French +
exchange = sus largely % ,he lz-rs az
pIica.ioas ss-t from hare for 4 sna-. n
the portion o - Grsk Iosn zllottd - I
Paris Spanish exchange e. s.easls- ara .
tAe gold premium szz.s-. Ths American +
demand here far Fol5 hzs fsEs. d
Nzdrit. Nay s-Spaztsh fos-s closs1 4
trSzy az Ss1
L1o7asa, Nzy s-spsusss fo--- csoss9
today 81 szs. a zes s1vzzcs q -
Far1s. Nay s-spsnssh fosrs -ios.t a.
= si-zs. q -; ztva1cs q liz The-e
vas a. irregular opsus1g ca re bssrss 4
bit prices soo1 strscEths1 SIR Sczz-
ish tours lez6,zK. d t5s raz7o- f1at a
rev ministry Is fsrzsaE n EasrtA la
.z-a ssc1r,-les were fre.sy oze-e5 sa-lv
Il tie day. n ooassg ss1ee q ne rigsi-x
a. Mglzn- n market esesed Etth az
z-GEu5 fir-zesz-
e1arss today ezce2t Tfalfza aecz-f.ssz