The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-28
HIGHEST Of THE DAY.
Are the Prices in the Railway
Shares
AFTER AN EARLY LAPSE
InduStrialS Not so Fortunate
The Money Situation.

buying of railroad stocks showed some
falling on In the course Of today. after a
notably active opening and early buying
movements. But the demand sprung up
again in the last half hour of the trading
in full force, and carried prices Of the
railroads TO the highest OF the day. New
York Central was again the center Of in
terest in the market. and It was q final
squirt OF IL points in that stock that gave
the market its strong close. The last sac
OF Central was at 14Ols. the highest Of the
day, and pa above last nights close. The
late buying OF the stock was on q very
large scale, blocks OF a thousand shares
and upward showing quite frequently. on
the tape. Manhattan was also rushed up
In the final dealings to 11sik. on the an
nouncement Of the closing of contracts.
looking to the change TO electric motive
power. The bull leaders were evidently in
a concerted effort to make final prices of
the dag the highest. The separation Of
the trading in the railroads and industrial
stocks Was not quite so sharp as yester-
day. Federal Steel was conspicuous at
the opening for an advance of rs on the
dismissal OF the injunction against the
payment OF the dividend declaration on
the common stock. Denials from Official
sources that any labor trouble was i'm
pending among the street railway en-
ployes in Greater ew York also gave an
upward tendency to Brooklyn ransit. and
Steel and Wire showed some sympathy
with Federal Steel since the directors OF
that company had assigned the injunction
against the Federal Steel company as a
reason for not declaring a dividend on
their common stocks. Sugar also was dis
posed to move upward. But the early
prices in the steel stocks weer the best of
the day and in none Of the industrial
stocks were ,ast prices the best. The days
business as a whole was. however. larger
than for some time past. and was remark
ably we'll distributed throughout the rail-
road list, todays reports OF earnings from
all sections emphasizing the effect of those
received yesterday. The movement in New
York Central separated itself more from
other members of the Vanderbilt group
than was the case yesterday and the as
sertions of the bull traders that the buy
ing was for account Of insiders was given
color by the presence in the street OF W.
K. Vanderbilt, an event always made
much of by the bulls. The increased spec
ulstive activity can hardly fail to call for
increased loan accommodations and is ex-
pected to add TO the already unfavorable
bank return for Saturday. in which gold
exports of S7,50o.000 already engaged will
have to figure. The heavy dividend and
interest obligations to be met on July
will also make heavy temporary demands
on the money market. The possibility Of
a squeeze in the circumstances Is taken
into account by some Observers. But IL
was noticeable that todays hardening Of
money in New York resulted in a fall in
the rate Of sterling exchange. although the
rates for money in london were also high
er nthe demand incident to the stock ex-
change settlement. London bought stock
in New York, which is said TO represent
bear selling on the settlement, and had It's
influence IN lowering the rate OF exchange.
But whatever temporary furry may occur
in the local money market the July dis
bursements will undoubtedly bring relief. |
These are estimated at Sis, 90. 600 at New
York at &2O.OJO000 in Boston and at s14,- |
o0oOOO in Philadelphia on account OF in |
terest and dividends. There was a larger |
proportion than usual Of today's transac- |
tons made on three-day contacts.
The total sales Of stocks today amounted |
to 513.95 shares. including: American |
Steel, 1890: American Sugar. $3.50: Atch- |
tson. 100: Atchison preferred. 22.50o: |
Brooklyn Transit, 1890; Burlington, . 90; |
Continental! Tobacco. 14ino; Federal Steel |
~ A. Z -
Nashville 1910: Manhattan. 500: North !
ern Pacific preferred. 800; Peoples Gas. |
6 co; Reading first preferred. $50: Rock !
Island. g. 100: st. Paul ~ $50; Union Pa |
cIfc, 12.7Oo: Union Pacific preferred. 10 so: |
Chicago Great Western. 400: Metropoi- I
tan, 1890: Miss 1uri Kansas and Texas pre- /
ferred. s.1o0; Missouri Pacific. $40; New
York Central. $3.50: Northwestern 500. /
Omaha. 5000; Pennsylvania, 14.3Oo; Ten /
nessee Coal and Iron. 400.