The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-17
RAlHAYSARE Strong
On Grain Situation, Earn
ings and Dividends.
EVIL TlDlNGS FROM CHINA
Cuts No Figure in Stocks on
This Side.

New York. July 1.-THE depression
the sinister reports from China had no
effect in the local market, and inded did
not hurt the American securities in the
foreign markets. Good advances were
established in London for Union Pacihc
and Baltimore and Ohio before the
| opening here, and international houses
bought freely in this market of those
aud other stocks. The total purchases
for London account in this market Were
estimated at 1900 shal es. The move
ment il Union Pacific was the main
spring of this market all day, and Bal
tlmore and Ohio was also an active
feature. The movement in these stocks
was primarily based on the estimates
for the years earnings now made up.
4 statement of Union Pacific earnings
| having the appearance OF authority
states that net results for the year, ex-
elusive Of land sales, amount TO over
$2e 000,C eco, which would indicate a pa
ance OF something ike per cent for
the common stock. This statement AID
the fact that inside interests were avow-
ed buyers Of the stock, gave co.or 10
the report that IL is 20 be placed on
per cent basis. The baltimore and Ohio
system has yielded for the year net
earnings of s12, 3sl, 1874, from which is 10
be Deducted fixed charges OF near.y
100000 and preferred stock dividends
of s., 10000. The fact that net earnings
for this system have been increased over
81 per cent for the year Is due TO the
heavy OUTLAWS made by the receivers In
the closing period OF their adminlstra-
ton and charged to operating expenses
last year This statement, coupled with
the fact of the recent return from Eu-
rope Of several feeders, was the oCca-
sion for the rumor ihas dividend was
10 be declared on this stock. The stock
readily responded and rose at one time
33s. The amount OF speculation which
has been based upon supposed damage
to the corn crop was made obvious by
the violent break in the price OF that
cereal and the rapid advance in the
stocks Of corn-carrying rail- DAD. This
helped the Union PACING NOV ment ard
that stock rose an extreme rs. Other
fiains ran from l to Ia for the corn
grangers, Burlington being conspicuous.
Rock Island was held back by sympathy
with the weakness in Brooklyn Transit
which was a target for tie bears all
day, and which lost rs net. Missouri
Pacific broke badly in the late dealings
on disappointment that no action on the
dividend was taken al meeting OF the
cline was rs. and coupled with the weak
ness in Brooklyn Transit and the dispo-
sition to take profits, reactions of about
a point were caused in a number OF
stocks The closing was heavy at the
reaction. Outside of the Changers, the
Pacifics and Transcontinentals generally.
the market continued dull and narrow.
An early advance in Sugar was due 10
the rise in price of the refined product
and there was some late strength in the
steel stocks on reports Of new orders
being placed for iron products. The
further advance in sterling exchange and
the admission by international houses
that they expected to ship gold this
week seemed to be without effect either
on the stock market or the money mar
ket - 81
The bond market continued dull. and
prices moved both ways. Total sales.
par value, $4,000 United States refund
Ing rs, when issued, old As. and the 5s
and 3's registered advanced Y. IS cou-
pom q, and new SIS Il in the bid price.