The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-02-15
FROM OUT TIE STORM
And Triple Holiday Stocks
Emerge Rising,
HENRY CLEWS' REVIEW
Europe's Connection With the
Present Movements.

IGSctil HiOFCIllOlitOf
New York, Feb. 14-stoclzs today ad-
vanced moderately above the prices pre-
yailing bzfore the triple holiday. Com
mission house business was much restrict
ed. az the severe storm had delayed mail
orders and kept away many customers.
The attendance on the stock exchange was
diminished and prices receded fractionally
through che steady trading. The London
market. TOO, was but dull because Of
storms throughout England and Yankee
rails. which showed weakness before our
opening because Of he blizzard. were sub
seqGencIy bought for oLndon account
Burlington was a most prominent stock
for Strength on rumor that q refunding
pan would be put through at tomorrow
meeting, although the story lacked condr-
nation. The other grange-s we're sympa-
thetjcaIly strong. Weather conditions were
responsible for liFing the price Of the
eathrac.te coalers and Rubber. The i'm
proving tone which became noticeable be-
fore noon spread TO the rsst Of rne LIST
and values were generally enhanced. Other
features Of strength were the local trac-
ZION shares and the Paciics and PennsyI-
vauia- The effort % secure dividend pay
UenCs through legal proceedings was re-
sDonstb,e for some advance II Pittsburg,
Cincinnati, Chicago and St Louis. A
number q industr;aIs which showed early
weakness rallied considerably Included in
this category were Peoples Gas. Federal
Steel Sugar and Tobacco. Prices contin-
ued 10 harden with periods OF hesitation.
and the closing was strong. The total
sales Of stocks today 81. 40 shares.
The bond market rrled irregular during
the forenoon but subsequently hardened
under the influence OF good demand OF
the active liens. Total sales were g.. 80
o.. United States fours coupon advanced
Is in the bid price
HENRY CLEWS' REVIEW.
Henry Clews says of LAST weeks opera
tons: "Ou the stock exchange. We have
had week Of irregular movement Upon
the whole. selling mas prepoaderated: and
the sellers have been not only the Dro-
fess-onaI operators, who appear inclined
70 discount 4 probability Of lower prices.
but also the more prudent outsiders who
show some abatement OF their hitherto
sanguine feeling. There has beer. perha rs
ItcIe forced selling. Or realizing under
stop orders but simply q softenirg Of the
Iate confidence in the maintenance Of the
extraordinarily high range OF values: and
tbs yielding tendency Is drawing cut
quite g considerable line OF shorts The
large operators appear 70 have realized
on considerable portion OF their hold
tngs. which Is undoubtedly an element Of
weakness as the ex-holders may be ex-
pected TO use more or less influence in
making lower range OF prices. as a basis
o. buying for a fresh rise. A transitional
gate OF things IS thus introduced, the
outcome OF which 1t Is not easy TO fore
see; but il plainly suggests the prudence
% operators following a policy Of buvi7z
ard selling for quick turns only. 81 far.
tl-s change n the market has not shown
It's effects IN any very marked change in
prices. OF -he nineteen principal stocks.
eighteen have declined. and the average
far has been 80 points. This certainly
is TO important decline. considering that
q. we're al their highest a. the earlier
date cited and about at-their lowest on the
later date.
There are causes which make L remark
Pole that The decline has NOT been greater.
The amount q stocks and bonds that
have been sold hare on foreign account
within the last SIX or seven weeks IS
eXc-a0r5inary. From the best iaforna-
ton o5tai1able from foreign houses max
tlg these negotiations. there can be no
doubt that, since January l. stocks and
railroad u1rtEs yes have been sent here
from Europe which. taken A. their mar
k5t value. aggregate 5000 coo: besides
which some SSo17ooo additional are now
@ rheir way home; while The amount
exported within c1e same period has been
quite nominal The wonder IS that the
pressure Of This Hood OF supply. steadily
pouring in from external sources. has Tot
produced a greater impress on prices.
There may be room for question whether
rae market has Yet d-gested and asslmila-
-zI these new supplies. Or whether. not,
having yer done 50. some further decline
j. 60 be expected Had the money market
ssaa in a diTrent position. the effect might
f-= been more marked than K has but
with the present plethora Of money -he
Inks are not likely % withhold any need
T. funds Tor carrying these securities IN
Il -hey ind a more permanent form OF
ownership. L can hardly De expected that
ans Important portion n these securities
WIZ BE- returned 20 Europe a The present
range at prices there : no idea however.
among houses directly connected with
these realzat5ors. that they are intended
= be permanent. bur rather that any i'm
por-sn- drop 81 prices would bring out
considerable buying orders from London
and erin
This refux o. securities does not appear
= be due merely u the condition If the
European money markets nor To any dis
elimination against American 5rves-u7e-s.
The fan in prices on the New York Stock
Exchange At the outbreak 81 The war.
caused large purchases 81 our stocks by
london and Berlin. and TIE great rise
following the close Of The var has yielded
handsome profits on the operations. whfch
are now beng realized This seems 20 be
The whole sN--a1aJ.cn ~ the movement.
which has not only exhausted the floating
Supply On The foreign markets but also
drawn a cons .E=-ab-e amount OF stocks and
bonds our g -he hands II European invest
c-s- Tais movement has afforded a very
GEO. r BARSE, III WAITE