The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-09
DECLINES N STOCKS
General Electric the Excep-
ton to Markets Weakness.
CLOSE WEAK AT LOWEST
Bank Statement Discourage
ing--Liquidation General,
CLOSE WEAK AT LOWEST

New York, May s.-Lquidation was
quite general in the stock market TODAY,
and material declines prevailed. There
was no news of any Importance and dis
appointment al the bad showing OF the
bank statement on Saturday seemed 10
color speculative sentiment. Sterling eX-
change was about steady and money de-
cidedIy easier. Such rallies as took place
were feeble and in each instance brolISht
out further sales, leaving the market a.
the end, weak at about The lowest for
me railways, although some OF the spe-
cialties in the late selling movement re-
tanned part of the advantage derived on
the afternoon rally. Arbitrage brokers
purchased some aeoo0 shares during the
forenoon's weakness. The market con
tinued feverish practically al day. There
was forced LIQUIDATION Of marginal ac-
counts BY commission houses. Some i'm
Dortant interests ct go stocks on the
assumption that rather large response
bAitdes have been taken BY cerr2.n
underwriting syndicates. The talk Of the
formation Of a new steel trust with
ness in some quarters, resulting in de-
clInes Of over 3 points in Federal Steel
shares and over IN American Steel and
Wire. The Flower stocks were sold for
both western and ,ocal account. Brook
lyn transit losing 81: Peoples Gas 81.
and Atchison preferred IA The tenor
Of the crop advices was conflicting, bur
Changers receded, Burlington losing over
points and St. Paul and Northwestern
about half as much. Among the cOalsrs,
Delaware and Hudson, and Jersey CITY.
were all down over a point each. New
York Central suffered a .oss Of ~ in con-
nsction with it's unfavorabl showing for
April, compared with last year. although
this IS partly explainable ythe earlier
date at which navigation opened last
Year. Ocher weak spots IN the railways
were Baltimore and Ohio Pennsylvania.
Union Pacific. Cleveland. Cincinnati. Chi
cago and ST. Louis Northern Pacific and
Missouri Pacific. Sugar and Lead were
among the heavy industrials Amalga-
mated copper sagged on the curb.
caused Anaconda Mining to be without
support. General Electric. which rose a
point was the conspicuous exception to
the markets weakness. The deposit Of
N0,00o,coo in warrants against the treas
ury IN a local bank which IS managing
the transfer OF tho Spanish indemnity
was taken 10 be the cause of the easier
tone n money.
The total sales OF stocks today were
1865 shares
New York. May S.-The Commercial Ad-
vertiser's London financial cablegram
SAYS; The markets here were quiet and
irregular today on the eve Of the settle
ment beginning tomorrow. Americans
opened fat, hardened slightly, and then
relapsed into dullness. New York refrain
ed from supporting themp and the close
was heavy at the worst. particularly for
Central Pacific and Union Pacific. Cop
pers were weak Tintos opened at 4gls
and closed at 49Is. Aaacondas opened a.
and finished at y. Ctahs were So. 7 IS
said that insiders are depressing the price
In order 10 take up al the shares for the
United States. Bostons were 2zs. Silver
was hard on Indian buying and oearish
covering. Money was easier.
New York May S-At the annual meet
ing Of the stock exchange held today the
regular ticket was elected. as follows:
President. Pudolph Keppler; secretary.
George ". Ely; treasurer. Franklin W.
GIHey; chairman, William Mcclure
NEW YORK STOCKS
New York Stock markets, furnished by
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