The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1894-10-05
TOOK SECOND PLACE
SUGAR STOCK RETIRES AND CHI
OAGO GAS COMES TO LIGHT.
Share Speculation Strong and Fairly
Active-Narket Improves on Ref
utation of War RuEors-Chicago
Gas Stock Makes Gain on Day
Bears Raid Rock Island.

NEw YORK, Oct 4.-The share specula-
ton today was characterized by marked
strength and a fsir degree OF activity. The
improvement IN the market was due in
some measure TO the fact that the Anglo
Franco war scare was proven to be base
less and the more favorable railroad re-
ports for September, but the main factor
was demonstration of bull sools against
the short interest. Chicago Gas wa. the
leader OF the speculation aud was taken in
hand early by an outside clique which
proceeded TO squeeze tie shorts in the
stock, the loanlng rates having
been put up TO l-32 per cent premium.
Accompanying this movement WAS a re-
port that AN agreement had been entered
into by the Chicago Gas and Municipal
Gas companies Tor a division of territory.
uder the covering which followed. as
sisted by purchases of the long account
induced by the scarcity OF the stock, the
price moved up sharply TO t2x per cent.
gain OF 2;S per cent on the close yesterday.
AT the higher figures the bears made
drive on the stock, hich caused "A re.c-
ton OF per cent before noon. After mid
day the buying was resumed and became
very heavy late in the afternoon, sending
tue stock mp TO 1915 per cent, the last being
the highest price OF the day and IL per
Cent above last nights closing.
Sugar was forced to take second place in
the dealings. An early advance OF Is per
cent was followed BY decline of y per
ceut, the trading at this time being very
light. It was not until later in the morn
ing that the shares came into good buying
demand, but the strength of the market
generally led TO covering movement in
sugar, which resulted in advancing the
shares % per cent to S5js per cent, with
only final reaction of a per cent. Ad-
vances We're established in the other indus
trials of II! per cent in Tobacco, rs per
cent in Lead, u per cent In Starch, sec
oDd preferred, General Electric - per cent
and Distilling q per cent.
The latter STOCK sold up l1s per cent dur
ing the morning on sales induced by Presi-
deut Greenhuts statement that the rebate
system had been abolished and that ali re-
bate vouchers outstanding will be paid on
maturity. During the afternoon the stock
received but little support aud ssgged off
rs per cent. In the railway list the
grangers were most active aud the most
notable event of the trading therein was IA
bear attack on Rock Island, causing "A
break of 4 per cent from the opening
price, which was IS per cent above vester-
days closing. The stock was tonnd TO be
without support ut the time and some
stop orders were uncovered. Bur
lIngton and Quincy, which opened
Z. per cent higher, receGed - per cent in
sympathy and ST. Paul. Which made an
early advance of % per cent, also fell off Is
per cent. As there was no uofavoreble
news in these stocks, the recovery was
rapid. St. Paul regained all but per
cent of the loss and Rock Island all but Is
per cent, while Burlington recovered all
the decline and made an advance of q per
ceut. There was a very strong buying
movement during the last hour and the
a
best figures of the day. The advance
above fractions are: New Jersey Central
and Ohio Southern, per cent; New Eng
land. x per cent; and ST. Paul, Minnenp-
oils ana Manitoba, 81 per cent. Alton and
Terre Hsute declined per cent aud a very
few other shares small fraction.
The bond market was strong all day aud
notably in the afternoon when il moved
up in harmony with she SHARE speculation.
The trading was active. the sales aggrega-
ting 81, 432. 800. The Chesapeake aud Ohio
Fours. burlington and Quincy, Nebraska
extension As, and Reading and Atchisou
issues being most prominent in the deal
ingS.
The more important changes are: Adj
vances-Richmond 81 Danville equipments
tives, per cent; Louisville * Nashvils
general SKIES, ~ per cent; Beech Creek
fours, As per cent; Toledo, Ann ArbOr *
Grand Trunk firsts, Peoria, D.cature d
Evansville firsts. aud Mshoning Coal fives,
= per cent; Chicago & Northern Pacific
flrsts, trusts receipts; East Tennessee
equipments, fve-. trust receipts and Read
ins firsts, preferred. 4. per cent; Reading,
seconds, per cent; Minneapolis & St,
Louis equipments. skies, II per cent; S..
Paul * Omaha consols. Louisville & New
Albany consols and Chesapeake & Ohio
our and one-halfs, per cent.
Declines-W heeling and Lake Fri e
Wheeling Division firsts. per cent; ST.
Paul ana Northern Pacific registered Ger
tificates. 3 per CEN; United States Cordage
firsts, 251 per cent, and Hooking Valley
hives. Kansas Pacific cousol-. Oregon Short
Line SKIES. ST. Louis and San Francisco
consois aud Western Union collateral
trust fves, l per cent; Dallas and Waco
lives sold at S04 per cent against 50 pei
cent, the previous Transactions.