The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-07
ghe aa1hita Daily Eagle Saturday ornn September T. 1895
MARKET GOES BACK
STOCKS LESS ACTIVE. CLOSING
DULL AND IRREGULAR

DULL AND IRREGULAR
Distribution of Business at the Same Time
Remains Good-Firm at Opening on
Higher Quotations on Americans In
London-Go,d Shipment Scare Takes the
stineninE Out OF that BIZ OF News.
Ihonsh-Coalers and Changers the First
to suner-Deciine in Susar-Bonds
Down Early but Later Higher.
New York. Sept 6.-The stock mar
ket today showed a considerable fall
ing of in point of activity as compared
with Thursday but he distribution OF
business was relatively good. Fraction
ally higher quotations made on Ameri-
can securities in the LONDON market
induced firmn=ss t the opening here
and fractional sdvsnces occurred in
the initial dealings. I1e market. how
ever, developed y ezSreSs at an early
stage owing 10 The expectations Of large
exports OF gold which had been fore
Swallowed on the previous day. In the
reaction the coalers and grangers We're
the chief sufferers II the active list
American Tobacco and General Elec-
trio were marked exceptions 10 the gem
eral tendency, Displaying very great
strength. The fi:s: named rose 2ls
per cent but subsequently, lost IL per
cent Of the gain. General Electric adj
vanced rs per cent and after an I'M
important reaction bettered its record
by net gain CO y. per cent After
midday the tcns o. .ha general market
strengthened with Chicago Gas, Lack
awanna and Tennessee Coal features,
material gains. IN the inactive spec
ialties New York. New Haven and Hart
ford sold at 1S3, decline of 16 per cent
from the last recorded sale. Erie
Telegraph on the other hand was in
demand. advancing go per cent. st.
Paul and Omaha preferred rose per
cent. In the late specula ton dealings
were irregular with marked pressure
against Sugar which in the face of the
declaration of the regular quarterly
dividends and the further advance in
domestic refined sugar. suffered re-
action of is per cent, the recovery
was inconsdera5le. The close was
dull and irregular.
The total sales OF stocks today were
256,S51 shares, including: American Su-
gar 26,4G0 shares; American Tobacco
$4,000 shares; Atchison third assess
ment paid 1880 shares; Burlington T.
600 shares; Chicago Gas 400 shares;
General Electric 1850 shares; Kansas
and Texas preferred 4,500 shares; Lou
isviIle and Nashville $500 shares: Mis-
souri, Pacific $500 shares; Northwest A.
600 shares; Reading $500 shares: st.
Paul Il, 700 sares; Rock Island 900
shares; Tennessee Coal and Iron H.
600 shares; Wabash preferred $500 and
Western Union 400.
There was a material decrease in the
volume of trading in bonds today with
decided downward trend to values in
the early dealings. In the late session
however, prices stiffened and the final
sales were generally above last nights
closing. The sales were s2.7s5,00o.
BRADSTREET'S STOCK REVIEW.
New York, Sept. 6.-Bradstreet's
Stock review will say tomorrow: Up
to last Thursday the market continued
to advance and to broa den in a remark
ablet degree and though attention SEEM
ed to pass from one group of stocks 10
another, there was evidence that the
professional manipulation which at
present does duty for speculation lead
erShip in Wall street attracted outside
buying power sufficient TO maintain
the bullish temper. The high level at
which exchange holds and the contin-
uance of gold exports with continued
selling from London constituted. how
ever, serious obstacle to a permanent
bull market and justified the hesitation
of conservative interests. The market
seemed for a time to disregard these
influences but it became apparent that
the market had not become sufficiently
broad and the rapidity OF the recent
improvement on narrow market had re-
suited in good deal OF 'pyramiding"
and buying at top prices on weak mar
gins. Some Of the larger bulls evident
" took profits in the early part of the
week and by Thursday last the market
was ripe for a reaction which accord |
ingly appeared and caused a good deal
of liquidation with sharp but not very
serious decline in prices which the
bear traders helped along TO the extent |
OF their power. On Friday. however. !
the fact that the gold shipments We're |
not as large as had been expected |
caused a considerable bear covering |
and gave strong tone to the close
GOLD SHIPMENTS TO EUROPE.
New York, Sept 6-Nesslage & Full |
Ter will export s10o. 900 in gold tomorrow I
and W. II. Crossman & Bros. expect 10 !
snip between Sl-Vct,cVb ana >l,-So,VOV.
Washington, Sept. Ga telegram re- |
ceive6 at the treasury department this /
afternoon states that 81 500. 900 in gold |
had been Withdrawn for export from |
the sub-treasury at New York Slight /
gains. however, were made at Chicago |
and other points aggregating slss.0J0 J
SO the true amount Of the reserve a { /
the close Of business was SOS 5l3 .529. |
The cash balance was $751;, 5I1. les. The /
treasury officials maintain their usual |
reticense on the subject but there Is no /
doubt that they Were somewhat disap- 1
pointed and surprised that the syndi- /.
cate permitted the business day to l
close without making any deposit. l
From the first the officials have con-
fidently believed 800 600. eco was the /
lowest point which the syndicate would /
permit the reserve 10 reach and hence /
their inactiOn at this time is not under !
stood
There IS. however. no alarm felt a 8 I
II is expected the syndicate Will come /
10 the rescue on the first sign Of IN I
easiness on the part OF the public.
LOAN MARKET.