The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-05-28

public demand for them and was taken
to show the danger of a break in prices
of those which were inflated in value and
weak hands which might demoralize
prices generally. There were evidences,
not lost sight of by the bears of a de-
sire to realize on some of the heavy
blocks taekn over by powerful interests
to check the panic due to the death Of
Mr.. Flower. Much was also made of the
impairment in values of an important
group of stocks that would result from
the enactment of a public francise tax
bill by the New York legisla ture. On
these various assumptions the bears sold
stocks quite assiduously during the early
part Of the week. number Of things
during the week checked the confidence
in coming reaction in prices. Most i'm
portant was the excellent traffic relations
Of railroads for the third week in May
Beginning with st. Paul OH Wednesday,
with an increase of $4,000 on gross earn
ings over last year. there was practically
no exception to the fovarable returns.
AS the comparison is with an unprece-
dented period last year, it could not fail
10 have force. Reports OF damage to
European crops during the week suggest
ed future price for wheat that would
attract a movement of the reserve in
farmers hands constituting the invisible
supply. the amount of which is believed to
be large IN spite Of the movement last
year. 1t was sufficiently obvious that the
declines in prices of stocks induced by the
short selling did not bring out any large
offerings of stocks. arguing confidence in
their future value. There has been a
steady demand for the standard railroad
stocks and outgoing steamers carry large
shipments of securities. The growing eau
ton of the public towards issues of new
industrial combinations and a falling off
Of the furore OF speculation in such
issues IS unquestionably a healthy symp-
tom and makes for financial safety The
detailed statement of the April foreign
trade showed 4 number OF favorable fea-
lures. especially the large proportion Of
the increase in imports in articles in
crude state" for domestic industry OF the
total net increase in imports Of s9.14S.o77.
this item absorbed s5.3ls.4l7. The pre-
vaAing ease Of money and the activity
reported by specialists in the various de-
partments Of trade and business were all
reassurinE ftcaosr. There has been a very
notable demand for all issues Of railroad
Mortgages during the whole week. There
was moderate absorption OF gilt-e1ged
and government bonds. But the favo-ites
are new issues for refundlng and reorean-
iZation purposes in course OF disposal by
reorganization syndicates and which nav
presumably hope for a stable higher level
Of prices after this floating supply has
been absorbed by investors.
The United tSates new old Is COUPON
and the SIS advanced Z and the old As
registered and the : = in the bid price.
The IS registered declined :.
New York Bank star ement.
New York, May 27.-The weekly hank
statement shows the following changes.
Surplus. reserve. increased s. 81. 81: loans,
decrease Sl7.7eS,S so; specie. Increase aege.-
so; legal tenders. Increase 3. 4sa los. de-
posi,s, decrease So 81 ~: circulation. de-
crease *. 50. TIE banks u>ox hold So
sS3.7e5 n excess ~ the requirement q o,
the > per cent law
New York Nay 27.-The Fsasucisr SAYS:
The surplus reserve OF tie New York
clearing house banks Is uow higher than
reported far eleven months. t5e gain of
50 e2oo for the weekauding Nay 2 bav-
ing sweilea the total 10 So SO x TIE
feature ot the current exhibit : rhe r.
ducsion Of j II millions n loans ard the
contraction % - % mIIllons IN deposits.
Reserve requirements. b. reason OF TIE
heavy DEPOSIT change. we're reduced By
Cnree mlAols ard over. and th-H- sda@d