Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1899-04-13
WALL STREET MOVEMENT.

! s ~ +; 3 3 b
Friday, April7.
Receipts at Chicago today: Wheat IS; corn
1871; oats 90. Receipts tomorrow (estimated)
wheat GO; oorn95; oats lis.
Puts on May sold 70s to " calls 72ssss to16s.
Puts on May corn sold 341l to e; calls 34sss to
u.
Total clearances seaboard wheat aud -four
equal $4,000 bu; corn 163,925 bu.
Receipts Northwestern points: 419 cars to-
day against 22S same day last gear.
Liverpool Opening cable: Wheat "a higher;
corn sd lower.
Liverpool Closing cable: Wheat "a higher.
Chicago hoes, 10000, left over $780, year ago
10000; open steady to weak; n d B 800 to 3S5;
q b 375 to 800; R b 355 to 365; light 500 to
5;Ss; cattle $500 steady; sheep 5000 steady.
Omaha: Hogs 5000; cattle $500.
New York.-The sharp break in the industrial
stocks has not changed tho industrial position
solely due to the policy adopted BY some fiaan.
cial institutions and some largo brokerage firms
absolutely refusing to handle them. Some CON-
sentative persons were excessively alarmed 1t
the great speculation and seemingly extravagant
advance in many of the copper stocks in Boston
in the last year, yet that Speculation has neither
broken down nor revealed spots Of rottenness.
Banks of Boston and brokerage houses with
their correspondents In this city made them
selvef secure by exacting liberal margins. There
was much prejudice against industrial stocks
when they were fut launched in speculation
years ago, - it ID now fashionable to display in
some quarters. The history Of sugar certificates
furnishes an apt ILLUSTRATION. Come superficial
observers. when sugar stock Was first introduced
into Wall street, insisted that the dividends
paid by the company were manipulated. Il Is
only because sugar established dividend pay.
ing record that proved genuine by its length
and stability that the stock BECAME we'll absorb
ed by real investon. - to permit its selling up
to $l.75. Tho earning power of the American
Tobacco Go. could not be challenged after sew.
eral vears Of distribution of actual money. The
weeks movement at the local stock exchange
have certainly tended to reduce the weak and
ever extended speculative account.
Saturday, April 8.
Chicago. 10000 hogs strong, opened firm.
NJ L B 800 TO 81; q. n. 375 70 %; R. Il. 355 to
1856; light $50 to IS.
CattIa am skaadv. .haan staadv
Omaha. $500 hogs steady. Cattle 400
Kansas City. $500 hogs strong.
New York. The downward movement at the
stock exchange has covered two days instead of
one and the average of call loan quotations.
Yesterday was lower than Thursday or Wednsa-
day. Besides the cancellation of loans which
ought to tend to the actual position of the
banks. The break in stocks yesterday reduced
to some extent the necessary margin Of safety
on new purchases. The extent of the afternoon
reooveries in prices Of securities yesterday de-
monstratsd that great deal of vitality il yet
existing in speculation.
Wall street has n before. passed through such
acute stages of stock decentralization, q the one
which was experienced between 100 and II 80
yesterday. These arc the penalties paid by ex-
eeasive speculation. Like most psnics tho
break yesterday came after all, with extreme
suddeness, but it is really misuse of the term
panic to apply it with regard 70 yesterdays
severe shrinkage in values. The break can
hardly be sid to have been due to sudden
freight, there was nothing in the situation out
side of the money market to provoke it Tho
money market would not have been disturbed
however, if moro conservatism had been exer
cised by some of tho larger and active houses
and some Of the promoters Of new industrial
combines.