The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-13
By SPECIAL EFFORT
Most of Yesterdays Wall
Street Business Was Done.
TONE GENERALLY HEAVY
Gold Exports Begin to Interest
the Market

| New York, June 12.-There was evidence
OF large buying by powerful financial in
terests in a limited number of stocks and
of manipulation 10 advance prices in the
| stock market today. Speculation other
wise was in q somewhat quiescent state.
Outside of the special cases where prices
were supported, the tone was rather
heavy. Many of the railroads ranged
downward within the limits OF a point dur
ing the early trading. There was organ
lied buying throughout the day OF Fed
eral Steel, which was marked up nearly
points and closed almost at the top.
There was some sentimental effect ex-
erted by this on other steel stocks. Amer
lean Steel and Wire responding late~fn
the day, on covering by shorts. But none
of the gains in the two groups were held.
outside of Federal Steel The sO-called
Flour stocks were all well supported and
Brooklyn Transit shared its strength with
Metropolitans Street Railway and Man
haitian This group of New York stocks
showed the effects of realizing from time
to time during the day and Manhattan
was dragged below last nights close by
its weight. The Changers were taken up
at one time, ST. Paul in the lead but did
not retain al Of its gain, and in some
instances more than lost. The coalers
were pretty well sustained also. Other
points of strength were Pittsburg Chicago
Cincinnati and St. Louis, which rose 3-4;
Chicago Terminal preferred, Denver and
Rio Grande issues, and the newly issued
Wisconsin Central stocks. Sugar 1uctu-
ated up and down during the whole day;
but always abe Saturdays level II rose
at one time points but lost it al before
the close. There was no evidence of out
side demand to keep the market up, and
the railroad group showed itself affected
by the heavy tone of the foreign stock ex-
change on account Of political disquiet |
The announcement of the resignation of |
the French ministry helped the late re-
action in prices. The engagement Of an
additional 100000 of gold for export to- |
morrow, although the probability Of it had |
been indicated also weighed on the mar
ket. No effect was apparent in the money |
market, which continued decidedly easy. !
Exchange also. though 1t hardened a |
shade, continues a broad fraction below
the point where exports can figure
profit on gold exports. II Is in fact gen.
orally admitted that the gold movement
is due to actual buying of the gold in this
market to replenish the reserve of the
Bank of England and probably also for
Russian purposes. This is a precisely sim
liar operation TO that undertaken by the
United States government through a syn
dictate TO rep,enish the gold in the treas
ury during the last administration. It is
to be noted that while the foreign money
markets are thus drawing on New York
for gold as the most available source,
New York banks are offering special in
ducements, such as paying the expressage
on bills RENTED by interior correspon-
dents, to secure a supply of legal tender
notes to meet the demand Of active bust
ness conditions.
The total sales of stocks today amount
ed to Sos. $50 shares, including: American
Stee! and Wire. Al, 400; do preferred, 300;
American Sugar. S. 200; American Tin
Plate, 400; American Tobacco. $500: Atch-
son, preferred, 1890; Brooklyn Transit,
q. 500; Central Pacific. 1000; Chicago. Burl-
ngton and Quincy. $500; Chicago Great
Western, 400; Chicago T. r. preferred,
300; Consolidated Gas. $500; Continental
Tobacco, $500; Denver and Rio Grande.
200; do preferred, 400; Federal Steel,
g. 800; de preferred, 1890; Manhattan, IS.
90; Metropolitan Street Railway, $500; !
Missouri Pacific. $500; New York Cen
raj, $500; Northern Pacific. 500; Penn
ylvania, 400; Peoples Gas Of Chicago. .
0 goo; Reading first preferred, 400; Rock
sland, 200; St Pau. $500; Southern Pa /
life. 100; Union Pacific. 100; do pre-
erred 800; United States Leather, IA
%: Wisconsin Central. W. /, $500; Wis
orsin Central preferred ". l., 800.
The leading stocks closed as followE: