The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-14
STOCKS AND BONDS.

New York, June 13.-After a dull and
1 hesitating market during the greater part
of today, with isolated upward move
ments here and there, the market broad
/ ened in the final hour and moved upwards
! quite generally, with a considerable show
of strength. The activity was attrib-
uted to the same speculative leader who
had been concerned in all recent impor-
tant movements and whose return to
Wall street this week gave immediate rise
to show Of awakening. Whatever the
motives Of the buying, the bull leader
ship secured a larger foreign following
today than at any time this week, not
withstanding a number of developments
not Immediately encouraging to a rise in
prices. The preliminary figures of the
week currency movement, which are
usually the center Of interest in a Fri
days market, gave no promise of a strong
bank statement.
The sub-treasury absorption Of 2,O46, coo
apparently has been lately more than
offset by the balance of receipts from
the interior. There is no indication of
any considerable loan contraction during
the week and the time money market
continues to reflect the cautious desire OF
borrowers to provide themselves with
fixed sums for a considerable time to
come.
|Today's crop news was regarded as IA
vorable, owing TO complaints OF too much
rain IN the southwest. Part of the
strength of wheat was attributed to an
improved demand for export, but this
failed to develop fully. The figures of
the May agricultural exports were decid-
edly unfavorable at the decrease in value
from those of May last year, reaching
over $20,0OO.O00. the breadstuffs alone de-
creasing SO, 1885, 900, and amounting to only
about half OF those Of last May.
Last weeks exports of wheat and -four
show a continuance of the low average,
although the most notable falling off is
in the corn exports. This does not offer
encouragement to the hope Of an early
supply of foreign exchange to facilitate
remittances for repayment Of SNyeign OBJ
legations. The advance Of a point or over
in the Reading stocks was an important
sympathetic influence upon the late mar
ket, but there was no news to show a
prospect of an early settlement of the
strike. The increase in the demand for
stocks was incontestable nevertheless. In
some cases the movement was due 10 in
dividual causes. Sugar advanced on the
over-sold condition of the market for the
refined product, and was affected also by
the presidential message to Congress re-
inforcing the recommendation for Cuban
reciprocity. Their were a number of very
large individual buying orders for Mexi- |
can Central executed in the early mar
ket. but the buying was not followed up. |
The drop of 81 points in General Electric |
was probably due to reports of a new
combination OF electrical manufacturing |
companies, backed up influential capital |
lists. The stock afterward rallied four
points
Chicago and Eastern Illinois rose ~
points further on persistent rumors of |
an offer for control. The days report OF 1
railroad earnings showed continuance /
of the increases over last years CORE /
spending period. The market closed 1
rather quiet but steady. There was a /
large demand for Wabash debentures B. |
At an advance of 21k per cent. The Bur
lington joint As were also in demand The /
market generally was firm. Total sales,
par value. sS,ssO0o0. United States IS
declined Z per cent on the last call
Closing prices Of stocks were a. fotloxvs.