The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-08-06
STOCKS AND BONDS.

NEW YORK, Aug. 5.-The stock marke ej
| opened easier; first, because the pace yes
terday was too fast. and, secondly, because
the room traders figured that the Walker
| failure in Chicago ought to have an ad
verse influence. The traders were all
| looking for a bad bank statement. which
| they thought would create more bearish
feeling. Consequently they hammered
away at prices, and succeeded in forcing
Sugar down 21s, Lake Shore, Ia. Chicago
Gas, IL: Louisville and Nashville IL,
| and General Electric, anywhere from - to
~ per cent. London, however, bought
moderately, and when the traders found
that the hammering tactics failed to bring
out long stock in important amounts, they
made strenuous efforts to cover, and many
turned around to the bull side. When it
Cawned upon the traders that they had
inlscalcuiated the effect of the Chicago
failures there WAS "a rush TO change posi-
tons on the market. Under the influence
of purchases prices bounded up i to 43Z
per cent. Sugar led, with AN advance OF
As per cent, while Burlington, Atchisun,
Missouri Pacific and other shares sold 1t
the highest point for week. The feeling
WAS buoyaut for time The bank state
ment checked the upward movement and
prices receded u TO 81 per cent, but
at the close the whole list was firm again.
The bank statement reflected the enor-
nous shipments OF currency to the in
terror ana the boarding which is going on.
Wall street continues TO be worried by
the scarcity of cGrreucy, and the busi-
ness houses OF the whole city are troubled
almost as much by the same question.
This morning at Il number OF the big
banks the officials when checks were pre-
sented. handed out coin, and in many
cases fatty refused to pay out bills. The
universal reason WAS that they did not
have the money TO glve.out. The scarcity
of currency has been made more marked
today by the endeavor of ali busines, aud
manufacturing and financial institutions
that make wage payments on Saturday to
secure bills of small denominations.
The currency brokers did n thriving bus
mess. One firm had an advertisement in
the newspapers Offering $50 per ! 200 for
silver dollars. The brokers charged from
! Hnd ] i TO and q for bills aud silver
dollars.
Tne subtreasury was busy all the morn
ing paying eat small bills Geld was paid
for vita checks ou the United States treas
ury presented over the counter. TIE
clearing house paid out 500 oo0 in cer;iii-
Gates, which were spoken for vester1ay.
making the total outstanding ed. 800, ooo
WASHINGTON, Aug. 5,-The treasury
deparI meni i doing ali In its power TO
meet the demand for small note, IN aud
around New York city. Last night 81 Geo.
Uto were s-nt east and tnis morning. al
additional 81 co.. coo were seat
EuTTSyfLLE, Pa. Ang. 5.-As the result
OF tie refusal OF 'hes New York and Pniia-
lphia banks o pay oat largs amounts of
currency, tk- PhilaaeID5,a and Reading
Coal and Iron company & behind 500. 01
IN its payroll accounts. The company hss
on deposit more ihaa enough TO pay of lis
nIen. but the banks WOE give up the cur
rency.
LONDON. Aug. 5-American railway
securities were better. on adyicrs showing
higher prices nt the close OF The New York
market yesterday. Bar silver WAS quatrg.
at 81 pence. Money was offered AT !sgIl.
per cut The rate OF discount IN the oss-a
market for both sGort and three months
talis Mas asA3 per cent