The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-08-25
MARKET STAYS UP
CLOSE Is STRONG AFTER A BE.
MARKABLY DULL SESSION.
Trading Is OF q Professional Complexion
Week-Crop News Gives Activity to
Changers but Gains are Fractional
Northern Pacific Affected by Legal Pro-
ceedinss in Progress-Tobacco and SUI
gar Among the Leaders in Activity
Cordage Shares Strong-Bouds-

New York. Aug. 24.-The share spec
ulation was dull, even for a Saturday.
the only animation being in Changers
Northern Pacific preferred. Tobacco
and Sugar. Trading was almost entire
ly OF a professional character and was
in the nature Of closing of contracts
10 settle accounts OF the week. The
Changers were favorably influenced by
the good crop news and increased grain
exports but the appreciations therein
did not exceed 2. per cent. A selling
movement of small proportions was
developed in Northern Pacific PREFER
ed by reason of of the legal proceedings
instituted TO restrain the putting into
effect of the Great Northern company's
guarantee in connection with the pro-
posed formal ton of a new corporation
TO operate the two roads. The stock
of Northern Pacific receded IL per
cent with a recovery OF Il per cent. The
rest of the railway list shows fraction
al gains on the day except that Lake
Erie and Western preferred shows an
improvement of Us per cent; New Eng
land IL per cent; Pullman 1 per cent.
Cordage shares were strong and net
advances were made of IL per cent in
the common: rs per cent in the pre-
ferred, and LIS per cent IN the guaran-
teen. Tobacco fluctuated between "a
and 9S24 per cent, closing at 9S12 per
cent against gain of q per cent. Su-
gar closed at al oss of x per cent from
last night. The market closed strong
and generally near the high points OF
the day
The Weeks speculation shows an in
crease in volume of business. Trading
in the industrials Were marked by
feverishness. Tobacco. Sugar and Chi
cago Gas were most prominent in the
transactions. In the early dealings
Tobacco made a break of 121s per cent
under the influence of manipulation
of a bear clique. which flooded the street
with reports of a threatening opposi-
ton to the trust. The preferred stock
broke ) per cent, TO 10 per cent, and
closed at los per cent bid. Reports of
unfavorable trade conditions affecting
the American Sugar Refining company
| and the reduction in prices of the COM
pany's product rendered the stock vul-
nerable to a bear attack under which
a recession of 81 per cent was made,
followed by a rally, the last sale being
at 2& per cent above the lowest, but
| AZ per cent below the closing of last
| Saturday. The bull pool in Chicago
forced the prices up to $685. per cent and
the realizing sales caused a decline to
| 591h per cent Renewed buying toward
| the close brought n rally to 622 per
| cent The railway list was Influenced
| by thes peculation in the IndustrialS.
Favorable adviceS from the crops in
| duced buying of the Changers and 9TH
| er railway stocks, resulting in higher
prices, the Granger group. except Bur-
| lington, reaching the highest point of
the year. The selling movement of the
! last week in Lake Erie and Western
was resumed, the common declining
! rs per cent and the preferred Ia per
! cent due to the purchase of the North
ern Ohio railroad. Rumors were cur
rent OF a contemplated adjustment Of
| the anthracite coal roads differences
| and New Jersey Central sold up ga
| per cent, to los per cent. the best figure
of the year. The reports proved to be
without foundation and all but l per
! cent of the gain was lost. The Min
: neapolis and st. Louis shares show
strength on improved traffic returns,
particularly the second preferred which
advanced Az per cent with but a slight
| recession. The week closed with a con-
fident tone to speculation. The total
| sales We're / S99. 900 shares.
The bond market today was strong
and active, the sales aggregating $1,219,
OO0