The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-03
CANE FROM ABROAD
DECLINING TENDENCY INCREASED
BY LIQUIDATION.
Rosy Views of the Business Condition are
Nevertheless Entertained-week'sB Bust
ness Larger. but Individual Securities
Present No Startling Phases--Notabie
Discrepancy Between the Dividend Pay
ers and Those which are Net-Near APP
proaeh to the Congressional session At
fects Sugar, Especiaily-Bo nds.

proach to the Congressional session AZ
fects Sugar. EspeciaiIy-Bonds.
New York. Nov. 2-The declining
tendency Of the week received its i'm
pulse from abroad and its accelerated
force from the activity Of the short
| interest. and from liquidation. as mar
gins became exhausted. The condi-
ton Of business throughout the United
States IS excellent. Railway earnings
and bank clearings show increases, the
movement OF spring wheat az the head
OF the lakes is unprecedented IN volume
| as is the output OF pig iron; the fear
that the winter wheat crop would be
a failure. is dissipated by heavy rains
from Texas to New England. Cotton
is slowly rallying from the great break
of fortnight ago and the declining re-
ceipts at the interior points appear 10
confirm the low crop estimates. For
eign exchange remains firm. being kept
below the gold export point by supply
of bills which seems 10 be forthcoming
| just when necessary and not before.
Our exports. other than cotton. con-
tinue favorab BILE. while imports are still
large Silver bullion has been steady
amount, if any. Japan will invest in the
white metal. of the $40. 0o0. coo that has
just been received on account OF the
Chinese indemnity.
The volume of business in stocks for
the week has been greater than for
some time past but the details OF the
movements in individual securities re-
feet little or nothing OF Importance as
a rule. The dividend paying stocks
! have been noticeably firm and the
weight of the reaction has fallen in
most cases upon the non-dividend pay
ers. In the railroads. ReaGing declin-
ed 5$s per cent in anticipation Of
heavy assessment and closed with a
net loss OF AS per cent. The other an
thracite coalerS also declined sharply
| in sympathy and also on liquidation.
Other noteworthy declines were in
Burlington, Louisville and Nashville.
Missouri Pacific and Wheeling and Lake
Erie preferred. The breaking off of the
negotie tons between the Panama rail
road and the Pacific Mail company had
a depressing effect upon the price OF the
stock of the last named concern. In the
specialties Erie Telegraph declined 10
per cent, TO. 30 per cent. on Tuesday,
and on the following day the price re-
covered to 81 per cent. II closed for
the week So per cent net lower. at g.
Per cent. In the industrials. General
Electric, on selling for both accounts
made an exceptional decline OF 6lz per
cent, to 291z per cent. with nnal rally
OF per cent. Officials of the company
say that business is good and profess
10 know no legitimate reason for the
drop. Tobacco recedes AZ per cent on
the continued fight In the industry. but
subsequently, rallied IL per cent on COW
ering of shorts. Sugar lost per cent
on reports of lower prices for the for
eign and domestic product. The usual
differences relative to the assembling OF
congress were made as likely TO unfa-
vorably affect the company Changes
not elsewhere mentioned were declines
in Piutsburg. G. c. and st. Louis pre-
ferred. Az per cont; Atchison preferred
when issued, S& per cent; Wells Fargo
Express per cent; Mobileand Ohio
3k per cent; Denver and RIO Grande
preferred, Miss6dn Paciac. Rubber and
Iowa Central pfsferred. per cent and
louisville and Nashville 2S per cent.
Michigan Peninsllar Car company pre-
ferred advanced ~ per cent: Pennsyl-
vania Coal s per cent: Metropolitan
Traction "a per cent and Starch first
preferred AZ per cent. The sales for
the week were 1886 shares.
Heavy sales Of Atchison bonds were
made today and were attributed TO the
foreign account Sharp declines en-
sued and the other classes OF specula-
tive bonds symparhized, although the
losses were less important In some
instances, gains were noted. unimport-
ant, except in Cairo. Arkansas and
Texas frsts, which rose 2h per cent
baltimore aYd Ohio consul fives 2h per
cent and Kansas and Pacific skies OF
80 and st. Paul ! per cent. Atchison
seconds declined Is per cent: Atchison
adjustment fours when issued IL per
cent: st. Joe and Grand Island frsts
trust receipts and General Electric de-
benture fives Y per cent and Wiscon-
sin Central firsts trust receipts and
Lake Erie and Western firsts l per cent
The sales were 81 .261. GOO
The bond market for the week was
influenced by the conditions affecting
the operations in stocks Reading is
sues were the features and gave way
sharply on an alleged forecast Of the
terms of the reorganizatio ton plan. Sub
sequently a substantial rally was in
duced by purchases attributed 20 large
banking interests Identified with the
reha bilitation of the property. Atchf-
son issues were sharply depressed by
liquidation. The important changes
were: Advanoe@New York and Rock
away Beach frsts 5iz per cent Morris
and Essex consol guaranteed per cent
Louisville and Nashville and r II. and
y. frsts per cent. Declines-Reading
firsts 5h per cent: Reading seconds "a.
per cent; Reading thirds 81 per cent;
Atchison seconds 4 per cent: Atchison
adjustment fours. when issued. 81 per
cent The aggregate sales were 81
464. 90
Governments were lower on transac-
tons OF So 600
State securities were quiet and devoid
OF feature. with ssies OF s55. 900 Virginia
deferred skies: $4,000 Virginia cen;u-
ries; 5000 Louisiana consol fours and
1900 North Carolina SKIES.
Silver certificates were neglected but
shade higher on purchases OF 5000
al sslz per cent and ss1. per cent
London. Nov. - p. m. closlng-Con-
soils for money 10s 1915; consols for the
account 100 1915: Canadian Pacific 5eiz
per cent; Erie l2iz per cent Erie sec
onds IS: Illinois Central 1918: Mexican
ordinary 20t. per cent: s.. Paul com
mon 49,: New York Central IG2 IL:
Pennsylvania 81: Reading ~: Mexican
Central new fours Il IL Bar silver
30 1915 pence per ounce. Money IL
per cent The rate 81 discoun; = the
open market FOR short bills = per cent
three months bills 2. per cent
LOANS AND CLEARINGS.
New York. Nov The New YORK
Financier says this week The state
Hent OF the Associated banks % the
city Of New York FOR ihe week ending
November shows Al ased re-
serve OF 1874 90 and reflects IN a rnsz-
sure the cessation % the movement %
noasy-or. a. least. a counter bzlsnc-
ing % it-which has ben gong o. IN
.ntsrruptedly FOR 50 many weeks Ths
amount % g1ds shippe9 - tne Interior
has heen decreasing rapidly since the
FIRST week % October and for Tire week
jus, ended ire receipts q currency a.