The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-11
LIFE WAS LACKING
STOCK MARKET FAIRLY STRONG
WITH TRADING LIGHT
Covering Of shorts for sunday Chief FAC
tor for Inprovemeus-Markee Opens
Above Fridays ClosiEx-Closcs Strong
With Gains In Most Everything Dealt In
-Week's Operations Disclose Unusual
Narrowness and DuHness. with Little
Doing for the Foreign Accountants
Reorganization Talk-Bonds.

NarrOwness and DuHness. with Little
Reorganization Honda
New York. Aug. 1o.-Today's stock
market was fairly strong in tone but
the trading was light and the specula-
ton was without animation. Covering
OF short contracts over Sunday was
the chief actor in the improving teaden-
c. OF the trading but there were also
small purchasers for the large account
The market opened firm and the FIRST
prices made We're generally a fraction
above the closing figures OF yesterday.
The market closed strong In tone with
most OF the stocks dealt IN above last
nights prices. the more important
gains being Tobacco II. per cent. Cleve
land, Cincinnati. Chicago and St Louis
lis per cent. and Pullman l per cent.
Leather preferred sold up 10 Ia per
cent but at the high figure there were
realizing sales which caused a reaction
OF l per cent. The weak spot in the
market was Manhattan which broke
IL Per cent on sales OF stock brought
out by yesterdays big advance.
n review OF the operations Of the
week disclosed the fact that during the
unusually dull and narrow. The NOV
ing influences were the crop reports,
which were somewhat conflicting, tho
gold exports and the question OF the re-
endorsement OF the treasury by the
bond syndicate for the gold withdrawn
for shipment TO Europe. The final trad
ing was characterized by a healthy
tone. The movement OF prices was
very Irregular and the range OF prices
was narrow except for some of the in
dustrials which were manipulated by
insiders cliques and one or two OF the
railway groupes which were moved on
reports affecting them Individually.
Trading for the foreign account was in
small volume and was mainly on the
bear side but did not appreciably al
feet the speculation save as IL re-
hecred heaviness OF Americans in the
London market. Late In the week
there was good buying OF Manhattan.
Rumors touching the Erie reorganiza-
ton were current but did not bring
the stock into activity. 1t was report
ed that when the plan is announced
il viii be found that the stock assess
ment Is to be xl2 on the common and
IS on the preferred stock and that n
new consolidated mortgage bearing =
per cent interest will be issued with
which TO take up all OF the junior is
sues OF bonds and which will cover the
entire property. subject only to the out
standing first mortgage bonds. Should
this blanket mortgage be placed on the
property it will call for the scaling OF
the present 8 per cent preferred con-
soiidation and second consolidated fun
ded bonds amounting To about $50, 600, =
900 as we'll as the 81. 900 900 funded cou-
pom bonds OF 1856. 1t Il also rumored
that the capital stock of the reorgan-
| lied company will be placed at Sl09. 000.-
| 600. The changes in prices In the gen.
I IT.
| portant and are. in the main. gains.
! including Manhattan 81 per cent; Chi
! cago Gas 2ss per cent: Tobacco 2x per
1 cent and Illinois Steel and Edison E.lec-
| trio 2 per cent Deciines-Erie preferr-
ed per cent and Cortiage guaranteed
| 21s per cent. The sales OF the week
Were 797. 800 shares.
Specula ton IN bonds tr. today's s~<-
sion was quiet but firm The sales
We're $J24, 900.
The bond trading OF the week was
quiet with the same erratic movements
az IN the share speculation The final
prices reveal but little change but adj
vances were made as follows: San
Francisco and Northern Pacific hrsts
/ per cent; Pleasant Valley Coal sizes
AZ per cent; St Louis and San F>raocis
CO Trust fives 81 per cent: Milwaukee
Lake Shore and Western flrsts ga per
cent and Union Pacific collateral trust
Iour anu d HdiAS trust frNeiFss. o.
Paul firsts and / and -. division and
Cedar Rapids. Iowa Falls and North
ern fives 3 per cent The aggregate
Of thes aies was g.. 90. 900.
The dealings IN government bonds
reached ss5, 900.
State bonds were NOR active than
OF late with pronounced strength IN
Ten nessee threes OF which $3.50. 600 were
dealt In; Virginia centuries figured for
S34 900. South Carolina cDnsols fours
81 900 and Alabama fours aai nv.s.
class A. 5000.
In silver certificates $4,000 sold at
C61s