The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-01

drop "a exehange rates ana for tana 70
create belief that the gold export mevs-
ment vas at an end. This idea was not
substantiated. as the Inducements SIN Of
fered By the Bank OF England. and Paris
and Berlin markets. are said in gold ship
ments this week % amount 70 sa,5ee 90.
raising the total since the movement be-
gan.early in June, to slsoe0ooA Neither
the continuance OF the gold exports. nor
the extraordinary amount n dividend
disbursements seemed. however. 20 affect
the money market unfayorabIy. The only
result Of the unavoidable disturbance OF
loans incident 70 the matter vas q tenn
porary advance IN call ioan rates on
Thursday and Friday to per cent at the
banks and TO as high as 10 and Il per
cent for balances on the stock exchange
The street, in fact, was apparently I'M
pressed by che prospect of continued case
IN money and by the accompanies out
look for an extremely large demand Cor
Income-yieiding securities. growing cut of
the desire to relnvest part OF the July
interest payments: II Is recognized that
the actual demand from this course has
been to q certain extent anticipative.
Speculative interest, however. seemed 10
consider Il something to discount and the
activity Of manipulative Operators on the
bull side may be traced not only 20 The
fact that q considerable short account
had grown up which could be forced to
cover, but TO a disposition 10 take adj
vantage OF the prospective increase In
the publIc's participation N the market
The fact that much better accounts OF
the progress ana results OF the crops are
now head was naturally calculated -
Diminish. the tge=ssh feeling which ths
street had developed In the past moa'n-
This, however. was much less effective IS
a speculative factor than the prospect OF
important deals involving the Vanderbilt
railroad properties. Rumors that some
thing Of ms Kind would come out had
been heard for several weeks past and 4;
was thought that the declaration OF the
semi-annual dividend by the directors of
the Lake Shore and other companies
would involve agreeable surprises. But
neither the semi-annual statements nor
the dividends Of the Vanderbilt COM
panies bore out such anticipations and
the speculation was about to fan back on
the old story of a probable amalgamation
OF the Union Pacific with the Vanderbilt
system. At this juncture came the state
ment that propositiins for the acquisition
OF the Boston and Albany by the New
York Central had been formulated and
practically agreed upon. The absence OF
explicit denials seemed significant and.
giving. as Il did. support TO the circuls-
ton Of renewed rumors OF increased divi-
dend payments by the Omaha and OF
further important deals under Vanderbilt
auspices. stimulated a buying movement
IN that group Of stocks. with rapid adj
vances in New York Central and its COM
panions. London purchases contributed
effectively to this movement. the action
OF the foreign market being the mare sig
nificant because the Transaal complica-
lions, the sensitie condition OF the Ber-
lin and London money markets and other
circumstances resulted in heavy speculat-
i've conditions, apart from the American
demand
New York. June 3o.-It was reported in
Wall street today that the reorganization
committee OF the Columbus. Sandusky and
Hooking Valley railroad. of which Louis
Fitzgerald is chairman, has found Il in
expedient to carry out the proposed plan
of reorganization and that Il has been
abandoned.