The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-10-02
SUGAR CATCHES IT
PRESSURE TO SELL rs HEAVIEST
IN THAT STOCK.
Days Sugar Stock Story 10 the Effect
That Directory Was In Hard Luck
for Loans-Distilling Stock Hunts
Lower Leyel-GrangerS are
Spry.

NEW YORK. Oct. 1.-The stock market
opened Irregular ard steady, but quickly
developed a weakness in the entire list on
pronounced selling movement. The
pressure TO sell was heaviest in Sugar,
considerable long stock being thrown on
the market aud the bears putting out new
lines OF shorts. Ia the opening dealings n
break OF rs per cent took place, followed
by recovery OF 3 per cent and for short
time the improvement was maintained,
but during the afternoon renewed sales
sent prices again downward, the decline
continuing to the close. The last sales were
at the lowest of the day and showed
los of 2$s per cent from the fiual
sales OF Saturday; the preferred stocks re-
ceded 3 per cent 10 921s per cent, which is
5$s above the common stocks. Distilling
sought still lower level today, touching
as Per cent. decline of I; per cent from
Saturday. A story was circulated to the
effect the sugar directors had failed in an
effort to borrow 500, 900 10 pay off rebate
vouchers which had matured The short
Interest began 10 cover at the lower figures
made by the shares aud recovery of "A
per cent ensued of which per cent hsG
been lost at the close. Chicago Gas opened
- per cent higher Oh continuation Of
Saturdays covering of shorts. but the ad
vance was promptly checked by heavy
offerings OF the stocks and n steady
decline took place, which lasted TO the
the close, the last sale being ] "a per cent
below the best of the morning aud "a per
cent lower than last weeks closing. The
heaviness of the shares, in view of the an
nouucement of the declaration OF the reg
ular II Der cent dividend in cash. is ac-
counted for by the assumption that insiders
supplied the bulk OF the stocks placed on
the market The other less active indus
trials participated in the depression, de-
clines being established at the close of Is
per cent In Leather preferred, ia per cent
In Lead preferred. Is per Cent in do.
common. Ia per cent In Cotton Oil, per
cent in Tobacco. common and preferred,
aud Laclede Gas. and = per cent in Cord
age.
Ia the railway list, the Changers were
most active, but were not subjected TO
vary heavy selling pressure. although the
bears made occasional dives against them.
The fluctuations il the shares were only
fractional except in Burlington. which
declined per cent with a final rally of -
per cent. st Paul lost Der cent; NOrtn
west preferred, = per cent, and Rock
Island, e per cent, and Northwest COM
mon gained Is per cent Western Union
was depressed by liquidation of bull
pool which was taken advantage of by
prominent bear operators to raid the
stocks. A decline of 4 per cent resulted,
of which only Is per cent had been recov-
cred al the close. Atchison fell off Is per
cent but recovered Is per cent. The
market AT the close was weak in tone
The bond market was rather heavy in
the early dealings aud during the first part
of the afternoon, but became steady in the
later dealings and closed with an improved
tone. The total sales reached Sc2' COO
ha ri nal oh IL.
Iowa Central firsts aud st. Louis South
west seconds % per cent; Oregon Short
Line conscls 5s Is per cent: Northern
Pacific per cent: Missouri Pacific consols
Us and Texas Pacific frsts per cent. Ad-
Navigation Trusts IL per
cent; st. Paul first Southern Minnesota
division per cent