The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-08-28

NEW YORK, Aug. 27.-This was an ex-
citing day on the stock exchange by reason
of the speculation in the stock Of the Dis
filling and Cattle Feeding company It
was generally understood at the close Of
business on Saturday that the funds re-
quired ID take the compauy's spirits out
Of bond had been practically assured. and
that impression prevailed at the opening
OF business this morning. There were
consequently, brisk demands for this
stock, which sold up to 22i- per cent on the
opening dealings n gain Of per cent on
Saturdays closing. Very soon however,
came reports of hitch in the loan negotia-
tions, and in the announcement by
Russell Sage that they had fallen through,
break TO 1875 per cent was made. The
trust people themselves. however, refused
20 speak on the subject and traders came
into the market to buy at the decline.
sending the price up to 205. per cent. Not
for long WAS the improvement maintained,
a Very uncertain feeling being apparent
among the operators in the stock, and on
coufrmatory reports that the attempts 10
make the loan 10 this city was failure.
the price went down TO lS9. per cent, and
break of61s per ceut from the top figures
OF Saturday occurred. Purchases to cover
short contracts caused rally in the final
dealings of II per cent, the last trade be-
Ing made at ouIy a per cent from Satur-
days close IL Was not known at the close
whether the company had given up the
fight for the loan, for although IL had
been abandoned here there was posi-
billy that the move might be yet
said some S2,0oO,oO0 was secured in
Chicago.
Speculation in sugar was fairly active
but somewhat feverish. An early advance
OF - per cent was quickly lost aud a de-
cline of 31s ger cent was effected on the
sale of a big block of the stock for the pur-
pose of taking profits. There was no sup
porting orders in the market while this
liquidation WAS in process nor was there
on the other hand any favorable news re-
gardiug the shares. And when the trans
action moved uD TO rs per cent, with a
subsequent reaction OF e per cent making
decline of Is on the Gay little was done
IN the other industrial stocks. except the
movement which resulted i'll an advance OF
l1s per cent in National Starch; q per cent
IN Chicago Gas; g per cent III General |
Electric, and .. per cent in L-clsde Gas !
preferred. Tobacco sold up 2k per cent in
the morning. aud closed at lU4, n net loss
OF per cent. Lead preferred recovered a
decline of Il per cent.
In the railway list, the trading was gen.
orally firm with occasional reactions in |
sympathy with the depression in the lead !
ing industrlals. Most OF the shares deslt |
in appreciated value aud At the close "A |
firm tone prevailed, and again an advance |
was established ranging from y TO Is per |
cent, the latter in Louisvills and Nashville;
l per cent in st. Paul, Denver aud RIO |
Grande preferred. aud u per cent in West |
ern Union. Exceptions were Lake Shore, |
which shows decline OF per cent, and a |
few other shares which are down 1sGX
per cent
The bond market was unsettled during !
the day, but the main tendency was
toward higher prices. The transactions
were large. aggregating 81 1903, 500.