The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-21
Stocks and Bond 8.

New York. July 2e.-The stock market
made 4 greater show Of animation than
for some tine past and the advances
in prices from the low paint 10 the high
est were in many cases fairly impress
i've During the period OF the advance
the market looked strong and varied, but
a close analysis OF the days trading
shows that the strength and animation
were apparerr rather than real This Is
due 70 the fact that the advance began
from the vantage ground OF a conside-a-
BE early decline in sympathy with de-
preston in London and expectation that
there would be announcements Of gold
exports By tomorrow's steamers. II was
on this stage OF the speculation that
there came the sudden and unexpected
news that Minister Conger had been
heard from by the state department TIE
bears hastily covered their short con-
tracts when this became known But
the publication Of the text Of the mess
age which quickly followed caused a chill
20 speculative sentiment as II did 70
warner sentiments Of humanity through
out the world. The market did not re-
LAPSE TO the low level again and was
held BY the notable buoyancy in different
portions Of the Industrial list. Sugar
was the central figure Of the market all
day and the dealings in the stock far
outnuubered those N any other list, The
ground for the advance was the very
large business reported in the Sugar in
dustry> This was supplemented by all
sorts OF rumors circulated by the bulls
OF prospective extra dividends. Their
efforts were directed against persistent
and loug-standing short interest. which
was forced TO cover largely at the adj
vance. Other strong points were the
Tobacco stocks, on ak Of q good forth
coming statement; the New York pubic
Utilities, on the hope OF defeating as
sessments under the new franchise law;
the Leather stocks. the Rubber stocks
and Peoples Gas The Steel stocks were
generally strong az advances OF from
70 3-sc. the Argument bsing that the
troubles in China would increase require
ments for that product. There was a
late advance IN Lacka wanna Of IL and
n New Jersey Central OF Il Wi-h
: these exceptions the railroad list shows
no striking net gains The whole mar
9
I fngs. when proft-taking became evident
/ inSugar That stock lost about . points
/ and reactions in some other stocks ex-
/ tended from 70 points. The closing
was thereby made heavy and the net
J changes were reduced 70 fractions ex
/ cept il a few Of the spscialties mention
/ ed. The movement was almost entirely
/ professional Throughout ard the late de-
/ cline was wholly due 20 troft-taking
! with the exception OF some selling b.
FOREIGN arbitraga houses in anticipation
/ % lower prices in foreign markets
The foreign exchange market wa'
strong and moved up lac, but the for
eicu exchange houses report that Paris
IS still the point OF greatest attraction
for gold and that the peEt shiprn en .
I Will probably b. made there instead Of &
( London As the steamers Do not toucf
~ q French port no engagements 10
exports wsra made A favorable ba1l
statement IL expected tomorrow, OWN:
70 the continued movement Of ctIrrenc7
from the interior. which il is though
has offset the losses 70 the sub-treasur,
(which include the gold exports and IN
taking m Of government depositsl D
more than million dollars. The nor
remote prospects Of the money make
continue 70 engage conjecture,
The bond market continued trres1la
and very quiet Total sales, par value
s1.o5o COO United States new As decline
!. II IN the bst price.