The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-06
MARKET VERY STRONG
After the Holidays and More
Active Than Before.
RISE IN SPECIALTIES
Changers More Than Promi-
nent-GoId Exports Explained.

New York. July 6-The market for
stocks continued notably strong today and
much more active than the upward move
ment Of last week. The activity was very
widely distributed, extending pretty gen
orally throughout the list during the
course OF the day. even extending TO some
Of the "cats and dogs on the list. The
general strength of the market was main
tained In face Of realizing movement IN
the stocks that were most conspicuous In
last weeks rise. notably Pennsylvania
New York Central and the Vanderbilt
group generally Including Northwestern,
Omaha and the Union Pacific stocks.
There was no very heavy pressure OF
liquidation in these stocks but there was
no effort TO hold up their prices and q
number OF them lost q point or over.
There was a realizing movement In the
Changers also but the vigorous strength
OF St. Paul sustained this group and
brought new buying through commission
houses. St. PauTs extraordinary gain IN
earnings for the fourth week In June OF
about 100000 over the corresponding week
of last year was the main motive for this
buying, though the general outlook In the
wheat market induced a general covering
Of shorts. The line OF shorts put out IN
the Changers on the early belief in the
ruin of the wheat crop Is understood TO
have been very large. and no small part
of the present strength OF the Changers Is
attributed to the covering Of these shorts.
Atchison preferred was very markedly az
fected In the same way and rose to 90 IS.
Rock Island Jagged IN the movement on
the disappointing May statement other
railroad stocks showing conspicuous
strength were Illinois Central. southern
Railway preferred. Northern Pacific, and
Erie first preferred. The strength OF
these was on buying for Londan account.
Mexican Central was In large demand
late In the day and coalers rose from
10 / 3-s. Bears who had sold Brooklyn
Transit in expectation OF a Fourth OF
July strike were eager buyers 10 cover
short contracts and advanced the stock
at one time nearly 4 points. Other spec
talties which rose strongly were the To-
bacco stocks. Steel and Wire. Tennessee
Coal, Peoples Gas. International Paper,
and Anaconda. There was some hesita-
ton in the early trading on account OF
the failure OF the money market to ease
| off as Il was expected to do under the
| July disbursement on interest and diVl-
dends. but later in the day call money fell
| TO per cent It is now admitted that the
recent gold exports have been directly
due to borrowing for the purpose Of cas-
ing the Germany money market Wnich
was in urgent need of Vt to carry over
the half yearly period. The London Sta
fist estimated that the terms upon which
money has been borrowed In New York
| for Berlin account have been equivalent
to a rate Of 6 TO 1-2 per cent for small
| norton Of the money that market re-
ouired TO tide over the pressure. Money
| Is now expected TO flow back to Berlin
on account of recent speculative liduida-
ton. and the critical period there is be-
lieved to be over. Discounts In Foreign
markets were easier today.
The total sales Of stocks today amount
al To es7.53 shares including: American
Steel and Wire, $500: American Sugar
refining. $500: American Tobacco COM
pany, 5000: Anaconda, 100: Atchison,
| 1900; Atchison preferred. $500: Brooklyn
Transit, 1890: Burlington. 1850: CONT
| mental Tobacco, 15.1OO: Federal Steel. 11.4Oo;
Federal Steel preferred. 800; Manhattan
Consolidated. 1910; Mexican Central.
500: Missouri Pacific, 1880; Nor4herp
Pacific. 1870; Pennsylvania, 2s.4oo; Peo-
pies Gas Of Chicago. 1900: Reading frst
preferred. Loo: Rock Island. - 5DO: ST.
Paul. s.. 100 Southern Pacific, $500: South
ern Railway preferred. 14.7OD: Tennessee
Coal and Iron. 1850; Union Pacific 2 100:
Union Pacific preferred. 1890; United
States Leather preferred. LOO.
The leading stocks closed as follows: