The Wichita daily eagle., 1901-06-13
STOCKS AND BONDS.

New York. June D.-The stock market
fen into serni-staguation during the lat
tez part Of the day. and the gains when
were established IN the morning were
generally wiped our un6er the drbhle Of
selling orders which came Up on mar
ket almost bare OF demand Various
points OF strength made their appearance
during the day. but they lost their izflu--
ence IN sustaining prices. The more
cheerful feeling in London this morning
was quite a noticeable Influence ii the
opening dealings Rumors have oeen very
persistent for several days now that
peace Is approaching n South Africa
To appreciate the importance OF Al ad-
justueut Of the long drawn out struggle
there, that IS for the world OF capital IL
must be borne IN mind what enormous de-
mand the British government makes on
accumulated capital for the conduct 0f
the var, as wei as the absolute cutting
CT Of an important proportion Of the
worlds gold product while the war lasts
The large disbursements by the govern
me1t on var account. combined with
transfers OF Russian deposits from Paris.
IS what has btven the LOndcn money
market its present ease and has led 20
some expectation that the governors Of
the Bank OF England VIII further reduce
the minimum discount rate Al tomorrow
weekly session 80 per cent install
Tz1eut amounting 70 80. afsl. 90 Of subscrlp-
tions 70 the new consoi issue IS due On
Tuesday next. June IS. and the demand
for money which result = . factor against
the reduction IN the bank rate. IN the
local market the London influence spent
itself The most notable features OF the
market were Missouri Pacific and Penn
sylvanias which each rose as much a.
- at one time The supposition in the
Street IS that the Missouri Pacific diree-
tors VIII meet next Monday and pur
these stock on q per cent basis Stocks
Of affiliated companies showed some SYM
pathy especially. the Denver and Rio
Grande stocks The movement in Penn
syivania was due 10 todays report Of
the acquisition OF the Pennsylvania Steel
company by the railroad company 10
safeguard It's steel rail supply. The Uni-
ted States steel stocks were rather sig
nifcanrly heavy. but the stocks IN inde-
pendent companies shot up in 4 striking
manner. The movement IN Colorado FUEL
was sensa ational, the extreme rise reach
iug 151a. a1d the jumps between sales
reaching as much as ~ points A viO-
lent reaction left the stock only 81 net
gain. Tennessee Coal rose ~ and the
American Car stocks the Republic Iron
Smclting between 1 and points The
dealing IN Colorado Fuel uss for Chi
cago account. National Lead continued
10 show the effect Of expected benefits
from Standard OH control or American
Lfnseed- The New York public utilities
were strong on the hope OF escape from
the provision Of the franchise tax
Northwestern preferred recovered Z polnJs
from Yesterday 5 5 point loss Movements
OF any significance outside these stocks
were confined 10 4 few rarely active
stocks. The preliminary statement OF
the May export OF agricultural products.
showing an increase over May OF last
year OF c-er 11000,C0, and the govern
melts weekly crop bulletin reporting
reporting needed rains IN the districts
shown 20 De suffering by the monthly
report Of June 1 seemed to warrant an
assumption OF increased values FOR secu-
rites. but they had little effect IL check
ing the dropping tendency from the open
ing high level. and the price changes for
the day are somewhat mixed between
gains and losses and are small in ali
cases outside OF the special features in
dicated-
Mexican Central income bonds were
heavily bought. but the general bond
market was dull and ;rreguiar- Tctsl
sales. par value. g s65.0oo United States
bonds were all unchanged on the LIST
call