The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-05-15
WAIT FOR TRE Fight
Is the Word on the New York
Stock Exchange.
ON EUROPEAN BOURSES
Sir Joseph ChamberIain's
Speech is the Influence.

New York, May 14-There was a very
obvious disposition today in speculative
circles to leave the stock market alone.
pending the developments Of the next
moves of the Spanish and American
squadrons. The outside interest in the
market was small. Coming in such
market the depression on the London
stock exchange and the selling here for
foreign account which resulted were effec-
| tive in depressing prices. London's quiet
feeling was due to the plain speaking of
the British secretary of state for the col
onies, Mr.. Chamberlain, as to the like
lihood of a European coalition against
Great Britain. Apparently no account
was taken by dealers in securities Of the
| speakers assurance that Intervention in
favor of Spain would be assented to by
Great Britain. In fact, all considerations
turned on the expected news from Ad-
miral Sampson and the depression in Lon
don would probably not have been effect
i've here in a purely sympathetic way, but
American securities offer particularly
| good market just now, so that foreign
holders were glad TO realize on them.
| The consequent losses in the international
! stocks decided the tone Of the market.
Offerings for London account were well
absorbed, in spite of the prevailing dull
ness, and prices were lifted above the
London parity.
The strength of sugar on the advance
of prices of the product and the favorable
bank statement hardened prices in the
second hour and wrought a few net gains.
| Fractional net losses were the rule at the
close.
Total sales of stocks today were 49,
300 shares.
REVIEW OF THE WEEK.
The latter part of the week has seen
| a reaction in the stock market but last
prices are still substantially above those
of last Saturday, except in some of the
specialties. Net gains range from a frac
ton up to points.
| This week the demand for money from
the interior has practically ceased and
some bankers report that they have re-
ceived shipments of currency from their
out-of-town correspondents Deposits in
| creased over 81, 600 900, and loans and cash
reserve have expanded so as to moro than
keep pace. Rates for time money col
| lapsed to to 6 per cent for periods as
| long as six months. Call loans are made
at ~ per cent and there is active bid
ding for Commercial paper at to 61s per
cent. 1t is evident that financial institu-
| tons all over the country feel themselves
amply provided 10 meet the demands Of
customers in subscribing to the new gov
eminent bonds if issued.
Naturally gold has ceased to come
abroad Exchange has risen to $4.S5h per
pound sterling, and is being held instead
of drawn, as the money commands high
rate abroad. The country's money supply
has been vastly expanded and with the
return of confidence and extension of cred
its there is the likelihood of great increase
of industrial and speculative activity.
BONDS.
The bond market has moved in sympa-
thy with stocks, the latter part of the
week showing some reaction from earlier
strength and activity.
United States new tours advanced 81
per cent, the fives and the old fours cou-
pom Y per cent, and the old tours regis
tered 4 per cent in the bid price.
New York, May 1.-THE Evening Posts
London financial cablegram says:
The stock market here opened fat to-
day on Colonial Secretary Chamberlain
speech and after a feeble rally closed
dull. Americans were especially weak as
also Argentines. l learn that the Argen-
tine government is arranging to place
per cent treasury bills here. Russia is
buying gold again.
Madrid. May 1-Spanish tours closed to-
day at 500.
Paris, May 14.-Stocks were weak on
the bourse today, the transactions chief
ly being realizations in consequence of
the speech of the British colonial secreta-
ry. Later there was a general decline.
principally in international securities.
Spanish fours dropped although exchange
was better
Berlin May 1.-Prices on the boerse
today opened weak. notably in the case
of bank shares, international securities,
and American shares, owing to the uneasi-
ness caused by the speech last night of
the British secretary of state for the CO.
lonies, at birmingham. Later prices be-
came 1rmer and operators were somwhat
treasured, in view OF the comparative stea-
diness of cOnsols and the activity Of local
speculation. But prices closed weaker in
sympathy with the decline abroad.
TREASURY STATEMENT
Washington, May 14-Today's statement
of the condition OF the treasury shows
Available cash balance, SOS. IA Sl6 gold
reserve, SI77, 63S 145.
NEW YORK EXPORTS AND IMPORTS. /
New York. May H.-Exports Of specie
from this port for the week ending today
aggregate $N52.567 silver bars and coin and
5000 gold. The imports Of specie this week
were S207S.o67 in gold and SO 257 in silver
The imports of dry goods and general
merchandise at New York for the week
ending today we're valued at Sl65.4T6.
NEW YORK BANK STATEMENT.
New York. May 1.-THE weekly bank
statement shows the following changes:
Surplus reserve. increase. S. go $50, loans
increase. sass. COO. specie. increase. SsG47.-
SEQ; legal tenders. increase los. 10a. De-
posts. increase $1Io501: circulation. in
crease Ss+,4o0. The banks now hold St5.-
81. rs in excess Of the requirements of the !
. per cent rule.
New York May 1.-THE New York
banksg according 10 their statement Tor 1
the week ending May a. hold d surplus
reserve Of nearly S47.0a0 Gu. The largest re- (
ported sinse last July. The downward ten I
dency OF the money market finds logical /
explanation in the statement with its re- (
ported heavy gains OF cash. The move /
ment to the interior which has been a 4
constant factor in the situation Tor weeks I
past. Is almost wholly at an end and tie /
diminishing probability OF An early bond (
issue has brought banks to the point (
where they prefer u pat their money 10 /
use. rather than allow IL TO lie idle The I
government continues its heavy dishurSe- /
ments. and gold Imports are also adding 4
to the stock OF money IN sight The
whole outlook. therefore. facors Al easy i
market not only here, but elsewhere
The expansions in loans Is q favorable 1
Indication OF better business conditions.
and while some q the import FOR the
week is due 20 the exchange activity.
there Is more doing in mercantile. paper.
and the banks have not been slovr - in