The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-03
Stocks and Bonds.

New York July with the exception
Of q brief period OF depression AZ the
opening in sympathy with foreign quota
tons, the sock market was consistently
strong throughout today and closed with
the grains well maintained Ia nearly ali
cases While the sTeng5h vas petty
well difTused. the Grangers and Pacifcs
were the leaders OF the market both Ia
point OF activity and strength Ths news
OF rains both on Sunday and today n
the spring wheat region was the priaci-
pal factor IN the advance as it was 81
the decline in the wheat market The
weekly statistics Of grain traffic received
from Chicago emphasized the influence
Of the news Of crop conditions. The de-
Hverles Of grain at Chicago showed a
still further Increase over last weeks
total. and at 6-33s.e00 bushels were the
largest for the corresponding week N
last week from which the falling of was
about - per cent Tie receipts at pri-
mary points showed only a small decline
from last weeks large aggregate. The
willingness thus shown by the farmers
10 part with their wheat AT present
prices serves somewhat to discredit the
alarHist reports of the prospective short
ness OF the wheat crop
The shipments east of Chicago, both OF
HOuT dEll OF 5TalLy also showed 8QOu
creases. These considerations proved 50
effective as 70 offset the days unfavor-
able showing Of ne. earnings for May
The report Of the Chicago, Burlington
and Quincy, by reason Of heavy charges
for operating expenses. showed the in
crease in gross earnings more than
wiped out ard the decrease established
in the surplus after fixed charges was
no less than So per cent The same
causes were at work IN the case Of the
Louisville and Nashville the net earn
ings OF which fell Q T about IS per cent
from last weeks Level Nererth eIess.
these two stocks shared fully IN the
DAYS strength. The figures Of the large
July Disbursements az dividends and In
terest were another factor OF strength II
the marker. These are estimated vari-
oUsly at s10e 000, 000 10 So, 600 coo It rs
pointed out that a larger proportion than
ever before OF these payments viii re-
main IN this country, owing to the large
buying of American securities from for
etgn holders during the past year. There
was no effect apparent IN the money
market from these disbursements and,
according TO precedent. there way not be
for several days. But the bidding up OF
prices today represented the effort of
professionals 70 anticipate the coming
pressure fer re-i-vestu1ert. In facr. the
whole movement was largely IN prcses-
stonaI hands, the advance Being accom-
plished on small volume OF business
and with the obvious intention Of i'm
proving the level of prices, rather than
of securing stocks as cheaply as pos-
sibIe. The Steel stocks were strong in
the early dealings, In spite Of the news
OF continued decline in prices OF pro-
duct and the widespread closing down Of
mills pending tne adjustment Of wages
scheduled There was also a reaction
in the price Of pig lead. The metal
stocks generally did not hold their best
prices. The same was true Of the ceal-
ers. Sugar was comparatively quiet and
was inclined % react from The hlsh
price. The foreign depression in prices
was attributed to the serious aspect OF
the Chinese question and in Berlin 70
the effect Of the disastrous fire IL H0-
boken on Saturday, out the reflect IN
fueuCe in this market was overcome
Within Eve minutes.
: A long list of bonds sold ex-interest
this morning. and MANY OF them r1sda
good progress toward covering th=
amount Of the interest. Total sales. par
value, s1.025lo0 United States refund
ing IS. when issued, advanced u and
regulars I. The new Is declined : n
-ha bid DrfCe