The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-11
MARKET FARES ILL
STOCKS IRREGULAR AND DEALINGS
4 THIRD LESS
OF Business L. Fair, Leaders
Being Representative Co.lers, Changers
and ACKNOWLEDGMENT Weak In Sym
pathy with Declines In London
Bond Syndicate Falls to Come to Time
and There are Apprehensions Of Further
Gold Drains-State of the Load Market
has an Infiuence-Bonds Lower.

New York, Sept. 1o.-The stock mar
ket today was about one-third less than
| that of the previous day. but the course
| Of prices was fully as irregular. The
/ distribution of business was fair, with
| Sugar, Tennessee Coal, Atchison, Bur-
| lington. St. Paul and Reading the
| leaders. The opening was weak in
| sympathy with the fractional declines
| in American stocks in London. For
! eisn dealers were also sellers of Louis
Vile and Nashville and Reading in this
| market. The apparent causes of the
depression were the failure of the gov
eminent bond syndicate to make good
the impairment of the treasury gold re-
serve below the sl0o. 0oo 600 mark and
the undated strength of the exchange
market which was thought 10 foreshad-
ow further large expectations of gold.
Predictions OF a hardening tendency IN
money rates were made but attracted
but little attention although slightly
higher figures were reported later in
the day for both call and time money.
The plethora OF Idle capital is too gen.
orally appreciated TO permit OF any
scare on this point. Later in the day
the announcement of the declaration
of the regular quarterly dividend OF
IL per cent on Manhattan and of the
recommendation of the payment Of the
regular quarterly dividend of ~ per
cent on Western Union by the execp-
tive committee helped to cause a firm
er tone. The engagements of gold for
export tomorrow also proved 10 be un-
usually light. The agricultural bu
reau's report Of the condition of cotton
on September is 7oS which Is practti-
cally the lowest on record. Officials OF
southwestern roads still report rates as
unsatisfactory. In the early declines
Louisville and Nashville and Reading
were the chief sufferers. After the in
itial declines prices firmed up almost
generally under the lead of the indus
trials. Sugar rose IA per cent; Ameri-
can Tobacco is per cent and Tennes-
see Coal rs per cent. About the end Of
the first hour another reaction set in
which affected the entire list. Sugar
broke rs per cent; Missouri Pacific and
Colorado Fuel IL per cent: Tennessee
Coal l II per cent and in the specialtieS
Erie Telegraph broke its record of sue
cessive advances by a decline of per
cent from the highest of the day. Near
midday the market again steadied and
recovered. Prices were made extending
to rs per cent in Sugar. The specula-
ton practically halted during the
greater part of the forenoon. The mar
ket closed dull but steady in tone.
The total sales of stocks today were
221 ,239 shares. including: American
Sugar $4,000; American Tobacco $500;
Atchison third assessment paid 14l00;
Burlington 1890: Chicago Gas $4,000;
Colorado Fuel 1890; Genreal Electric
7.4O0; Kansas and Texas preferred 1900;
Louisville and Nashville $500; Missouri
Pacific $500; Northwest 300; Pacific
Mail 4,600; Reading 1900: Rock Island
$500: ST. Paul 24.100; Tennessee Coal
and Iron 22,100; Wabash preferred g.
500.
The bond market had a tendency to
lower figures during the greater part
of the day. although near the close
somewhat firmer tone was evident. The
sales were sl.S7s.0oo.
GOLD WITHDRAWALS.
Washington, Sept. 10.--Only $50 900
in gold was withdrawn from the New
York sub-treasury, which leaves the
true amount of the gold reserve $751;
544, Sec. Treasury officials show no un-
easiness on account of depletion of the
reserve. They argue that the situation
IS brought about by speculation and
that there is no legitimate reason for
gold going abroad now. The movement
of the cotton crop is now under way
and this adde to the grain shipments
of the northwest which must soon set
in, 1t is said, is sure to overcome any
speculative tendency toward further
shipment. There is now a deman in
the northwest for small notes in ex-
change for gold and the treasury has
several exchanges OF this character |
with a prospect of many more in the |
near future.