The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-22
BREAK N IOBACCOS
Liquidation Takes Place
Throughout the Group.
DEALINGS RATHER LIGHT
General Market Shows Small
Losses, as a Rule.

New York, June H.-Transactions In
stocks were of paltry proportions. but this
did not preclude some r-e.t- wide move
ments of prices. In fact, the lethargy of
the speculation left the market vulnerable
at any spot where genuine liquidation was
thrown upon 1t. Such liquidation was IN
doubted!y made in all Of the Tobacco
stocks. American Tobacco suffered most
severely, the extreme decline being SA.
Continental Tobacco dropped an extreme
points and the preferred ; Very heavy
blocks OF all three stocks running from
LOO TO 5000 shares changed hands in the
course of the decline or the hesitating re-
bound. The break in these stocks was due
TO the rumors, which have been persistent
for several days. OF dissension in the d.
rectory on a likelihood of division OF re-
sources and possibly destructive competi-
ton. Coming on top of the experience Of
the last few days in the steel stocks, to-
days events added largely to the senti-
ment OF disfavor hsld toward a large num-
Der Of industrial stocks. The steel stocks
of the official assurance that the money
for the preferred dividend on Federal Steel
had been set aside before the declaration
Of tn dividend on the common, and also
because Of a prevalent belief that Steel
and Wire Is son 70 be entered In the regu-
lar listed department OF the stock ex-
change which would necessitate a detailed
statement of finances and earnings. The
announcement of a great combination of
the existing sirits and distiuing compan-
les was accompanied by a rather striking
fall in the stocks OF the constituent COM
panies. American Spirits dropping over 2
points, the preferred IL and Standard Dis
ttling preferred a point. notwithsta nding
the alluring assurance that the new COM
bination involves a decrease of the capt.
taliZation outstanding for the constituent
compaies. Baltimore and Ohio stocks
dropped of 8 and 2ss. respectively. for the
common and preferred on the continued
large decreases in earnings shown by the
returns. There was a rather notable ad-
vance in the Morgap group at one time
including Cleveland. Cincinnati. Chicago
and st. Louis; Chicago. Indianapolis and
Louisville preferred. Hooking Valley pre-
ierreo. and Chesapeake and Ohio. This
was followed by an upward movement in
the Vanderbilts. including Northwestern,
ST. Pau and Omaha. the New York Chi |
cago an dSt. Louis stocks and New York
Central These gains were not well held |
Pittsburg. Cincinnati. Chicago and ST |
Louis dipped ~ points on very small deal |
ings. American Car stock and American |
Smelling preferred showed good gains. |
The general market was semi-stagnant, |
but as a rue showed small losses.
The total sales Of stocks today amounted
to 334.27 shares. including: American
Steel. 24,soo; Anaconda. 800; Brooklyn
Transit. 1920: Burlington, 500: CONT |
mental Tobacco. s.. 100; do preferred. $50: |
Federal Steel. 1850: Manhattan. 5 600: St |
Paul, $500; Union Pacific. e1"o; American |
Spirits. 300; American Tobacco. 45.6Oo: |
Baltimore and Ohio. 1900: do preferred, |
SEQ; New York Central, 400.
The leading stocks ciosad as foiiouu.