The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-22
'NETgHAH 9ES SLIGHT
Season of Great lrregularity
in Stocks.
ALL KINDS Of POLITICS
State, National and lnterna-
tional, involved.

View York, June 1.-THE stock market
was exceedingly irregular today and the
net changes, except in few stocks. are
not large. Prices ruled above last night
closing leve flor the greater part Of the
nights level the market almost invaria-
bly, fell into extreme dullness. That the
demand which kept up prices came very
largely from the short interest is high
ly probable. Some support was accorded
by the sympathetic effect OF the positive
strength manifested by New Jersey Gen.
trail and Reading first preferred North
ern Pacific was conspicuously under pres
sure all day. Efforts were made to sup
port the stock at about 80, but II broke
through that price near noon and fell
an extreme ga TO 10 Ia, with only a
feeble rally The renewed report that a
crop disaster was in prospect In the
Northwest were responsible for the weak
ness of this stock and Of the Great
Northrn prterred which lost IL points.
Some OF the liquidation in the Northern
Pacific was attributed to Berlin, where
that stock is q favorite and where money
difficulties are forcing liquidation. Spec
ulative opinion was a good deal confused
with the cross currents OF the situationn
in China, the crop outlook. the national
convention at Philadelphia, and the
money market outlook. Some of the sell
ers Of stock yesterday vowed their mo-
tive TO be the probability that Governor
Roosevelt would refuse the nomination
Gov Nd
insist upon the drastic enforcement OF the
franchise tax. Those who sold on this
ground yesterday naturally covered their
short contracts on today's developments
London sold stocks in this market on ru-
mors of Admiral Seymour's death, but
the local market was lower before this
selling at the advanced prices Sub
treasury operations, including payments
for the gold exported, have resulted in
a loss OF only $4,000 by the banks. and
today's debit balance by the sub-treas-
ury amounted to ss79,e5 The banks have
continued to receive money from the in
terror and the Saturday statement is not
likely TO show a large decrease in cash,
even II the gold reported to be engaged
for shipment Saturday is not Cancelled.
The tone of the money market is firm
er, though not quotably changed. Ster-
ling exchange declined Ia. notwithstand-
ing the advances In the London discount
rates. Although the Bank of England
has repleished its gold supply during the
week to the extent of over s. 100000 from
interior sources. the private rate OF dis
count in London continues TO harden and
holders have resorted TO the bank during
the week to the extent of s.. $1,000. Tie
English institution advanced it's price for
gold bars IA penny and for American
eagles 1-2 penny today, making enc penny
in each case for the week Although the
statement of the Bank of Francve shows
that institution materially strengthened,
both by the increase Of bullion and re-
duction Of note issue and loans, the con-
tinued downward course of sterling at
Paris indicates further need OF gold.
The prospect is, therefore, that further
demand will be made for gold in New
York. where the outbreak of speculation
in wheat and cotton is making large ad-
ditional use for money at interest Clos
ing prices OF stocks were as follows: