The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-10
MARKET is BEARlSH
GOLD AND STERLING EXCHANGE
HAVE MUCH TO DO WITH IT.

First Hour the Market 10 Steady to Strong
with Gains In Many Shares-Becomes
Reactionary on the Engagement of Over
q Million in Gold and No Move on the
Part Of the Syndicate to Make the Drain
Good-Recoveries from Lowest Points
Lower.
New York. Sept. 9.-The speculation
| today was active and with the course
| Of prices inclining downward, London
quotations for American securities came
| higher in most cases. Denver prefer
red showed gain of per cent over
Saturdays New York closing. In the
first hour the tone was steady TO strong
and a number of low priced shares and
some OF the specialties established ma
terial gains. Colorado Fuel rose per
cent: Tobacco "a per cent: Denver pre-
ferred ~ per cent: Pacific Mail Is per
cent and General Electrict i per cent.
About IL O'Clock reports Of the engage
VI ~4t-VvbVVv ~ SUI III
by tomorrow steamer with undated
strength in the exchange market and
no indication of an intended deposit OF
gold by the government bond syndi-
cate caused some uneasiness. The mar
ket became reactionary and under pres
sure by the bear traders and some real
iZationS, declines were generally estab-
Eshed. The more noteworthy losses
n in Rio EOrIr y,rlfarrSa1 nd Ia A..
wanna per cent; Chicago Gas and
Rock Island each per cent; American
Cable per cent; Sugar 2ss per cent:
Delaware and Hudson "a per cent;
Omaha preferred PIG per cent; Leather
2ss per cent; Tobacco 2ia per cent; Tenn
Coal 212 percent; General Electric per
cent; Chicago and Eastern Illinois,
Northwest. st. Paul. Pacific Mail, Mis-
souri, Pacific. Wabash preferred, Read
Ing. Bay State Gas and Burlington each
i y per cent. About o'clock the mar
ket became quite animated under SELL
ing for both accounts, a leading bear
operator being active against several
OF the industrial shares. In the final
dealings firmer tone was discernible
and general recoveries from the lowest
points were made. Tennessee Coal re-
cording an exceptional rally of IL per
N|AAN. AV uCl sam WdS just
amount. The market closed steady.
The total sales Of stocks today were
81, 400 shares. including: American Su-
gar $4,000; American Tobacco 10, 100; At
Gibson third assessment paid, 1890;
Burlington $4,000; Chicago Gas 16 200;
Colorado Fuel 200; Distilling 5000: Gen
eral Electric 20,100: Kansas and Texas
$500; Louisville and Nashville $500;
Missouri Pacific 1000; Pacific Mail 16.-
800; Reading 20. 700: Rock Island l2.100;
st. Paul 24,700: Southern railroad pre-
ferred $500; Tennessee Coal and Iron "a
400; Wabash preferred 500.
Trading in bonds was fairly Animal
ed. with lower views ruling. The sales
were s., 2S5, 900. The more notable de-
clines are Baltimore and Ohio fives 21s
per cent; Pennsylvania 4Rs and Fort
Worth and Rio Grande firsts per cent.
Lehigh and Wilkesbarre consols rs q
per cent; East Tennessee tours. Oregon
Short Line consoi fives and Oregon I'm
provement consol fives Il per cent each
Interior Conduit debenture skies 1is per
cent and Iron Mountain fives and Cor
dage flrsts trust receipts per cent.
GOLD SHIPMENTS.
New York. Sept. 9.-Gold to the
amount of $1,000, 900 was withdrawn
from the sub-treasury for shipment TO
Europe tomorrow. W. H. Crossman
and Bros, took 81. 900. 900; Nesslage &
Fuller 800, 0O0 and Oelrichs & Co, $780,
600. The Withdrawals brought the
treaSury's gold down to about S97, 300 900
1t was expected that the Belmont Nor
gan syndicate would make a large de-
post Of gold in the sub-treasury, re-
storing the reserve 20 S100, 900. 600, but
no deposit was made.
a., W.,
National bank furnished the syndicate
$500, 900 last Friday in exchange for
same thing in like proportion to their
greenbacks and other banks will do the
holdings.
Mr.. F. o. I.eech. ex-director OF the
mint, and cashier of the National I'm
ion bank, speaking Of the matter today
said he was strongly in favor of the
banks giving up some Of their gold for
the main tenance of the treasury gold re-
serve. He though IL would be good
plan for all of them 10 turn into the
treasury at least % per cent Of their
gold holdings. There was no question
that as soon as the cotton and grain
bills began ocome forward gold would
flow into the treasury ana the banks
could then. If necessary, replenish their
own holdings.
Washington. Sept. 9-The gold today
was further depleted by the loss of 81
o00. 900 withdrawn for export from the
New York subtreasury. This leaves
the reserve at the close OF business s97.-
f10.772. The treasury officials have re-
ceived no inform alton Of contemplated
gold deposits by New York BANKS as re-
ported. yet they have no doubt that the
syndicate very soon viii make good the
losses below 800 900. 900. For this rea-
son. when questioned. they say they
have no apprehensions for the future
AS to the real purposes Of the syndicate
with respect to speedy action. they
have no official or reliable informa-
ton.