The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-17
RATES ARE RISING
STERLING EXCHANGE CLOSE TO THE
Exporting POINT.
Stock Market Does Not FAN Properly to
Condition to be Sought in the Relation
of Exports to Imports, the Former Hav-
ing the Advantage. In that They Be
main Stationary while the Latter In
crease-shading In Money Rates-Inter-
est in Railroad Earnings

est in Railroad Earnings
New York. Oct 1s.-The action OF the
stock market was actively infiuenced by
rise in the rates Of foreign exchange
| TO within a fraction of the gold ex-
porting point The advance was attrib-
utable TO the changes in the course of
! our merchandise trade, imports increas-
ing, while exports show a moderate de-
cline. The September statement Of our
foreign trade has direct bearing on
| this subject II shows that while ex-
ports remained stationary imports in
creased to a marked extent. The result
was that the favorable balance Of ex-
change Of $1,000. 900 in September. 1894.
has been changed into an unfavorable
balance of $3.50. goo in September, 1895.
In that month last year the gold move
nssnt was unusually small, the result
being moderate imports. This year in
the same month there were substantial
gold exports, In the aggregate slightly
in excess OF the change OF conditions
in mechanics In other words we i'm
ported $4,000, COCO more than we did a
year ago and accordingly have exported
81 100000 more in gold. The strength
of exchange was logically reflected IN
shading in money rates. Other news
developments were confined to railroad
earnings, the passing of the Baltimore
and Ohio dividends for the half year
and the action of the government COM
mirtee OF the New York stock exchange
in deciding to list the Central Trust
company receipts for Chicago Gas. This
last event was not known until after the
close of business but had been antic-
ipated. II was stated that the Balti-
more and Ohio railroad had earned the
amount required for 2h per cent divi-
dend. but that the directors had decid-
ed TO apply the money in other dir'ec-
tons. The average increase on the
gross earnings of torty-four. reporting
for the first week in October, was the
largest since early in July.
The market opened moderately active
and fractionally higher. Aggressive
bear operations soon changed the tenn
per and resulted in declines ranging up
10 IL per cent, with the grangers and
industrials the chief sufferers. In the
less active shares some notable changes |
occurred. Morris and Essex rose no 10 |
per cent, as against 166 per cent, the |
last preceding sale on September 20. |
New England touched 53is per cent, as
compared with 56 per cent. the previous |
quotation. American Spirits Manufhc- |
turing company preferred, when issued /
which closed at Al. per cent bid yes /
terday. brought 40 per cent for the |
first transaction ever recorded and /
receded TO Al per cent. Erie Telegraph /
gained IL per cent, TO 20 per cent, and
subsequently lost the Improvement.
The specula ton was weak and apathet- /
ic until near the close. when on increas-
I'D ar-Y,ir mo
lar. Chicago Gas and Cleveland. Lor-
ain and Wheeling ureferred received 1
good support and rallied per cent each |
from the low point. The first mention
ed lost a fraction of the gain later. /
Final prices were In the main fraction
ally above the low point.
There was a marked elimination in |
the volume OF trading and an absence |
also of that decided strength which |
yesterdays operations in /
bonds. The market as q whole, how
ever, ruled firm, although in the late /
trading the speculation issues develop |
ed a sagging tendency. which was in /
part attributed to the heaviness OF the |
share speculation A transaction OF I
note was the purchase OF a block Of /
800, 900 Cleveland, Lorain and Wheel |
ing firsts at 100 per cent Subsequently, /
the price rose to 1897 per cent. The |
total sales were 81 ,696, 900. The net /
changes are: Advances-St Louis. /
Kansas and Northern. st. Charfes
Bridge firsts and Akron and Chicago
Junction fiyes 2 per cent; Cleveland. |
and St Louis. Chicago.
Western and Missouri River division.
tours. AZ per cent, and Interior Con-
duit SKIES. Louisville and New Albany
fives, and Virginia Midland generals
stamped 1 per cent. Declines-Ulster
and Delaware fives IL per cent; Colo
RADIO Midland fours trust receipts IL /
per cent and Fort Worth and Denver
City firsts, Illinois Central fOurs 1851,
Missouri Pacific common. Grading de-
ferred incomes and Mutual Union sink
ing fund skies per cent.
Governments were inactive.
In state securities sc. 900 Virginia cen
turtles were traded IN.
BANK CLEARINGs.
St Louis. Oct. 16.-C1earings SILL
s23; balances s545. 695. Money steady |
5G7 per cent on call and time loans.
New York exchange IS cents discount
Memphis, Oct 1s.-Clearings s2Ss, 713;
balances ssS.192.
New Orleans, Oct. 1s.-Clearings, 81
30. 25s. New York exchange: Bank at
par: commercial s1.75 per ] 600 discount.
FOREIGN STOCKS AND MONEY.
New York. Oct. 1.-THE Evening
Posts London cablegram says: The
was satisfactorily concluded
today. No failures were announced. but
the tone OF the mining market Is stll
dull The other markets were steady
Americans were strong. closing. how
evr. at the best The Paris and Berlin
markets were dull Exchange on Lon
don was easier at 25.5 and Berlin rath-
CT frner.