The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-05-19
STOCKS AND BONDS.

New York, May 1s.-The stock market
fell into idleness and neglect again to-
day So far as there was any senti-
ment prevailing on the outlook for values
the adherents OF one view were counter
| balanced by those of the other. The
! consequence was a deadlock in which
prices were held nearly motionless Hold
ers refrained from selling. thus relieving
the market from the pressure to which
1t has been subjected recently. but buy
ers were entirely indsposed to follow
prices upward The result was virtual
stagnauon. London sent OVEN higher
prices this morning. the extreme ease of
money there causing some strength for
securities. The response here was short
lived, and the resumption of gold engage
ments for exports put an end to the ad-
vance. The ordering of $500 600 in coin
at the subtreaSury for shipment tomorrow
showed that the exhaustion of the supply
or gold bars left the shippers necessities
uncovered and compelled the resort to
coin. The superstition that the easing of
money abroad and the stiffening of the
rate here. consequent upon transfers of
gold had proceeded far enough TO prompt
borrowing abroad on New York account
so as TO check the outgo of gold, proved
Elusive in spite of the dropping of Lon
likelihood that the Bank of England will
reduce its discount rate tomorrow. Bey-
ond tomorrows shipment Of gold. which
will reach about s5.0J0 600. all available
supplies of gold bars for the future were
bespoken by prospective shippers. There
was official expression of the opinion
based on informal intimation from inland
shippers that probably sl5.000,0o0 addi-
tional in gold will go out. The aggregat-
n of an h.
rent, beginning early in April and count
ing only actual engagement up to date
has reached over 81. O(o, coo With the
abandonment of the idea that the gold
movement was about to reach its limits
by the borrowing on sterling there was
a revival of the uneasiness caused by
the apparently unbridled outflow of gold.
with an influence in aggravatinG the dull
ness of the stock market. The quick sub
scription for the Burlington bond issue
was favorably regarded. but the break
in the new japanese bonds on the curb
to within one-eishth of the issue price
was an offsetting influence. The selling
seemed to be of the newly allotted hold
ings on which there seemed to be eager
ness to realize Immediately. There was
a subsequent recovery on buying by the
bankers. The weather was favorable TO
the crops, but without effect on stocks.
Attention was attracted by the export
demand for the new crop of wheat as
promising to better condition which is
one of the depressing factors in the pres
ent situation. a deduction in the price of
copper was family reflected in the move
ment of Amalgamated. Railroad earnings
reported were not important. but offered
no stimulation to values. United States
steel preferred ran off to one-half under
last nights price on the late publiCa-
ton of the uncheerful report of the
iron outlook by the Iron Age. The closing
tone was steady and the average level
OF prices was very close to that of last
night.
Bonds were dull and rather heavy. To-
tai sales, par value, S1,i1o,o00.
United States bonds were unchanged on |
call.
Quotations were as follows: