The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-08
Turns At THE CLOSE
Stock Market Scores Prices
Above thursdays.
BOOM IN SOUTHWESTERNS
Changers Also Favored--Liq-
uidation Early.
BOOM IN SOUTHWESTERNS

late strength originated in the southwes-
tern group Of railroads. The largest buy
ing as well as the greatest gain in price
was in st. Louis Southwestern preferred. |
which rose points on the publication Of
the May statement OF net earnings, show |
Ing a surplus over expenses of SIS. ass I,
compared with $7,255 last year. Missouri |
Pacific, Kansas and Texas preferred. Wa
bash preferred. Texas and Paciis and St. !
Louis Southwestern preferred. all rose be- |
tween ! and 2 points and aroused buying |
movement IN other portions Of the list. !
1t was notable however. that some OF the |
stocks which have enjoyed the largest |
share OF attention recently fell into COM |
parative neglect when interest began to |
be manifested in the Southwesterns. The |
Changers, however. after morning declines |
averaging a point. were bid up way above |
last nights close in the late dealings. |
Good weather in the northwest and weak |
ness in the wheat market and Brad !
streets decrease OF s,5OO.OOO bushels in !
European wheat stocks were the motives !
for the buying Of the Changers. Part OF |
this buying was said to be to cover shorts |
put out yesterday. Atchison preferred led /
strength rising 1-2 points above the 1
early low point. Manhattan showed in 1
dependent strength before the market gen.
orally had turned upward. The stock rose /
to within a shade OF 122. but reacted /
about a point. The upward movement in
Pennsylvania are New York Central at
the opening o ma published report of a
plan to consolidate did not hold the Een-
eral market though the individual stocks
maintained the advance In price pretty
well. Practically the maximum gain for
them was established in London before
the opening here. Pennsylvania was held
at 13S only momentarily and ruled net
far from 1877 al lday. The early period Of
the market was given over to continued
liquidation. The industrial specialties and
local traction stocks were notably weak.
The latest strength Of the Southwesterns
was shaded by Chesapeake and Ohio.
Cleveland. Cincinnati. Chicago and st.
Louis, Tennessee Coal. ard colorado
Fuel. The growing ease OF the money
market helped on the late recovery in
values. The fears Of dearer money In
London gave way under the advance OF
the continental exchanges on London. The
call rate dropped from TO per cent in
London. actual rates for sterling ex-
change fell IA to 1-2c In New York. and
call money was offered down to per
cent in New York
The total sales Of stocks today amount
ed to 572 $50 shares. including American
Steel and Wire. $500: American Sugar 3d.
400: American Tobacco. 1850: Anaconda.
$500: Atchison. 1850; Atchison preferred,
s.. 100: Brooklyn Transit. 4O.7O0: Ch"sl-
peake and Ohio. q. no: burlington, 9l..G0;
Chicago Great Western. 5000: Colorado
Fuel and Iron. 5.210; Continental Toba sco.
$500: Federal Steel. 3.4O0; Manhattan. c.
CO. Metropolitan 400: Missouri. Kansas
and Texas. preferred. 1900; Missouri Pa
cific. 2l.5O0: New York Central. 1900:
Northern Pacific. $500: Pennsylvania. %
SO: Peoples Gas of Chicago. 400: Rock
Island p. 500: st. Louis and Southwestern, :
:. 800: St Louis ard Southwestern pre-
ferred 900: st. Paul. $500: Southern Pa
cifc. 4.2oO: Tennessee Coal and Iron. : 200:
Texas Pacific. 500: Union Pacific, 10 90;
Union Pacific preferred. 1900: United
States Rubber 1900.
Railroad bonds were only moderately
active ard showed mixed changes. Total
sales. par value. 81 $500 United States !
new as advanced IA in the bid price.
BRAQSTREET'S FINANCIAL REVIEW
New York. July 7.-Bradstreet's financial
review tomorrow will say: The formal an
nouncement Of last Friday week that the
lease ~ the Boston and Albany had been
ratified by the New York Central direc-
tors gave a further decided impetus 10
speculation on last Saturday The mar
ket. accordingly. closed decidedly strong
for the three days holiday and totally
disregarded both the advance 81 call loan .
rates to 51s per cent and the Unexpectedly
heavy reduction OF bank reserves shown
by the clearing house average for tho
week The speculative world IS inclined
10 regard these two last mentioned cir-
a. well az the maintenance or
relatively high call loan rates since the
holiday. as a Temporary effect n the :
enormous July interest and dividend dis
The fat that on Saturday
the Vanderbi!ts Changers and Standard Z
shares rose sharply ard attracted
nearly all the attention. showed the d.
rectiou which the movement Wss Inclined
70 take. II may also b. specially mention I
ea that Pennsylvania shares were a fea-
tur.. rising 20 - - which shows the
Importance he street attached 20 the a.
leged presence n its president. Mr. Cas- !
sat, a. the ratification Il the Central
Albany lease. There have indeed been
-1m0rs that 4 c0mps~t has been made b.
which the Persylvanla - 20 gc1uire con-
troll ~ the New YORK New Haven and Z
Hartford railroad. That. however. is
deemed inpractIcabse and undesirable. :
and the only vaIa deduction that can b
drawn from the circumstances IN question
is ,h4. more harmony prevails in the
trunk Ire situation. ~ her the mraket ]
re-opeuei On Wellesley Il Rad the bull
ish influence - saPp5rt u az weil a. the
general e1p~c'atisn that large part Of
,As extraordinary July Disbursements
amounting 20 81 % 80 20 s1ss o. 90 :
would and their way irto Wei Street for
Investment. tn manipulation vas mainly
directed 20 Advancing prizes n vsrt01s
parts OF the nst. pools and prominent
house we're artive n oounection With
their specia tisE while the bind market !
p-eze-;s-d a decidedly firm appearance
There. however. Squared q - a dispo- I
s,fioa 20 take proafs = th~ Vanderbilt !
ard Granger shares. which csDE@d rsc~s-
sion from Ire early high prices for fh~ss
ss-csIrifis-r ard a rurnb~s e s2ertsif3~s ard
Icr-pyt ed shares came e the frost TIE
InGBstrtals, zoo. once more b@cause mere :
active. ara ENLISTED th@ iniue1rs az
s-<rz:istive support and buying Tfsse I
;.-se-rfss asserted themselves more sig .
rssrautiy r. Thursdays trading. the tore :
~ the market on that day bslzK strong }
IN the main but E4sh lrre<uissfsT in the / {
aIsgerens rarts &C tie list aid ms-e q . Z
alkrosgttsz &C psy stss1tioG . tha erZ- :