The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-01
RAILWAYS ARESIR|)NG
With the General Share List
Sadly Neglected.
MONEY AT IL PER CENT
Bonds Active and Higher
Weekly Stock Review.

New York, June s0.-There WIS Q -
markable demonstration Of the Underlying
strength OF standard railroad stocH= to
day in spite Of the happenings which the
bears have been relying upon TO put coWn
prices befo:e the triple holiday. The
squeeze in the market roved more severe
than for many months. the rate for cab
leans jumping at one time to L per cent.
Loans made today carry over until Eext
Wednesday, and the shifting inc dent 10
the heavy demands on the eve OF semi
annual disbursement caused a very active
bidding for money There was besides the
natural hesitation on the part OF mcst
operators to making large commitments
on the eve Of the holiday. and the general
tende1cy TO close up accounts. This kept
the market very du;l through the early
part of tse day and prices were disposed
to sag. The opening was indeed a frae:i1n
below ;ast night for most of the railroads
and liquIdating movement In Sugar ana
the city traction stocks pulled the rail-
roads back again after they had f-st
hour Of the trading a very determine AMI
confident demand sprang up for ST. Pan'
and New York Central after the latter
stock. which was dealt in ex-dividend.
had fallen OF half below last nights level.
This demand grew and spread through the
most prominent stocks on thu Est, inc I'd
ing the leading trunk lines. the grangers.
the Pacifics ard one or two Of the SOUTH
westerns. The masner In which this buy
ing ignored the furry in the money MR.
ket indicated that IL came from sources
not dependent on the ordinary resources
Of the banks. Nltwithstasd' :he
strength Of the movement in these fSw
stocks the general ma; ket continued very
much neglected and little changed In price.
The total sales for the day were consider
ably below the average for the weeH and
dealings were almost wholly concentrated
is the few stocks which developed so broy-
ant a tone. these the strength CON-
tlnued with a very slight reaction at the
c,ose. the level Of rices being lifted fo-
them from l TO 2k per cent above last
nights level. Numerous blocks Of zoo
shares and upward OF Pennsylvania were
taken on the rise. The isHustrIais Were
almost wholly neglected. Sugar recovered
from its carly weakness and closed ab5Ut a
point higher Leather preferred and Ana
cond9 and Tennessee Coal wera also
stro-g. The local traction stocks we're
notably weak. Brooklys Transit ieing mo t
keanly affected. feature of the early
marke. was the number Of cash sales OF
gilt-edged preferred stocks. There was
quite long list Of stocks selling ex-dlvi-
Island ard Atchison preferred. The mos.
prominent Of these more than recovered
their dividesd on the days trading. Al
opinions seem to agree that va-y helYy
decrease in cash will be shown nv tor.1,-
rows bank statement some est'mstes
running as high as s1o0,O.0On This IN
Guides S700o.CQ) Of the gold shipments. a
loss to the sub-treasury on account Of the
governments Expenditures this week and
net loss for the New York banks on the
interior move mont Of currency. Besides
this the speculative activity u the week
foreshadowed an expansion IN loans and
sharp declise In surplus reserve
The total sales OF stocks today amounted
to S55 81 shares. including: American
steel, 3.s10: American Sugar. $3.50; Atchl-
son. 6.oo0: Atchis)n prefarred. - 800:
Brooklyn Transit. IS 90: Bur ington. A.
roo; Federal Steel 400: Louisville and
Nashville. ITO; Manhattan. $50; MOI. h
ers Pacific. 1900: Peoples Gas. 700; Rock
Island. 29.f0; st. Paul. $500: Southern
Railway preferred 400: Consolidated To
bacco 700: Metiop )liian. 100: Missouri
Pacific, I1.iOo: New York Centre $3.50
Pennsylvania. $50: Tennessee Gal ard
Iron. s2ro: Union Pacific. $50; do pre-
ferrred. $40.
The leading stocks close "a follows: