The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-27
PRICES JUMP At FIRST
Enthusiasm WaneS and the
Close Is Under the Best
VAN0ERBILTS ARE ACTIVE
Earnings Reports Strengthen
Railroads in General.
ARE ACTIVE

New York. June a6-The opening Of the
stock market this morning showed jump
in prices and something like q rush TO
buy. which spread rapidly through the
whole railroad list. In due course Of tine
number OF industries also showed
strength. When this development became
obvious the railroads paused in their ad-
vance as though to shake on the follow
ing Of Industrial stocks. Acute weakness
IN the local traction stocks. Steel and
Wire and Tobacco stocks. checked the ad-
vance. The railroads held firm for a time,
but before the day was over builIsh en-
thusiasm had somewhat expended its eff
feet and the closing dealings showed a
rather easy tone, with prices OF the rail-
roads SHARPLY below the best. A move
ment In the Vanderbilts was by far the
most conspicuous of the day and was OF
course based on the reported lease of the
Boston and Albany by the New York Cen
trail for term OF ninety-years. The ram
locations OF the Vanderbilt properties are
so vast and the possibilities OF consOlida-
ton so important that a movement in
these stocks is always certain to have a
stimulating effect on the whole railroad
list, and for the same reason the Wander
BIT group Is very likely to be picked out
for manipulation by operators for a rise
As the floating supply of these stocks is
not large. such maniuiation IS not so diff
fcult as 1t might seem. New York Cen
trail was at one time today up points
but it lost one point on the failure Of Of
fetal confirmation or even admission OF
the correctness Of the Boston and Albany
report. This. together with further en-
gagements OF gold for export. was the
important influence In the reactionary ten
dency throughout the market Chicago and
Northwestern. Omaha Union Pacific and
the Oregon Short Line securities all re-
sponded sharply, In sympathy with New
York Central strength The weakness OF
the New York traction stocks today was
due to rumors Of approaching labor
troubles. Sugar and a few other special
ties showed early strength. but the indus
trials. with few excetions. yielded before
the close Good reports Of current railroad
earnings. especially in the west and south
west, weer Actors In the strength Of rail-
roads Decreases In operating expenses OF
railroads was a feature Of
the May statements received, the May in
come of Atchison being increased largely
by this means. to the extent of over $780,
900 st. Paul's May statement, on the
other hand. showed the gross increase
more than swallowed up by the enlarged
operating expenses.
The total sales OF stocks todayamounted
to 473.s T shares. including the following:
American Steel, Il. 800; American Sugar,
2i,cOO; Anaconda, B.7OO; Atchison, 5000:
AtchLson preferred, 1860: Brooklyn Tran
SIT. 900; Burlington. IL 90: Continental
% 200: Federal Steel $3.50: Man !
haitian. 1890: Northern Pacific. s5c0: Peo- |
pln's Gas. 5.enO; Reading first preferred. s.
200: Rock Island. 400; st. Paul. 1910; |
Southern Pacific. 800; Union Pacific. L.
200; do preferred. 200: American Tobacco, |
!. 400; Metropolitan. 300: Missouri Pacific. |
100; New York Central. % SO: Northwest
ern. 400: Tennessee Coal and Iron. 2400.
The leading stocks closed rs follows: