The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-19


dictate Produces q Break In Foreign tx
change Rates, and the Gold Exporting
Pressure Is Removed for the Time
Union Pacific Reorganization Plans
Publication Followed by Interesting De-
MISUNDERSTANDING Situation Causes
Advances In Stocks
New York, Oct 1S.-The volume OF
business in stocks today fell cons;dera-
bly, below the recent average. The
course Of prices was irregular and the
motive power came chiefly from pool
manipulation and the pool traders.
The news of the day was for the mGst
part favorable. but the speculation
lacked snap throughout The publica-
ton Of the plan of reorganization Of the
Union Pacific was today followed by
/ developments of interest bearing upon
| the outlook for its rehabilitation These
consisted OF the formal withdrawal OF
/ the famous action in the suit brought
by the Soldiers Orphan homa OF st.
Louis against Russell Sage and other
Gould estate executors and the official
announcement of the retirement % the
i
/ ity OF holders OF the consolidated onds
OF the Kansas Pacific railroad.
The most important event OF the
/ day was a break in the foreign ex-
change market in connection with the
I purchase, by powerful syndicate, of
large interest in the Anaconda cop
/ per mine The sale OF a large block Of
| exchange in connection with the oper-
alton, temporarily removes the pros
! pect of gold exports 10 Europe. \ ship
ment of s4Oo. coo fSr Buenos Ayres was
not definitely explained.
RealiZationS of profits In several OF
l the iron properties accounted for heavi-
/ ness in that group and Tennessee Coal
was affected by special considerations.
/ 1t was reported that an agreement had
| finally been reached between the lines
| formerly members OF the old Southern
| Railroad and Insurance association for
storage rates, TO go into effect Novem-
| Der l.
] The easier tone OF the foreign ex-
/ change market has strengthening in
! fiuence on the stocks and advances
were effected extending TO 1 per cent IN
Sugar and to important fractions in the
I leading shares. The upward movement
/ induced realizing sales. Exceptionally
weak features were Laclede Gas, which
/ broke 3ls per cent, 10 PASS per cent. and
Starch first preferred, which lost ga
/ per cent, TO 80 per cent. In the last
hour a general selling movement set in
/ which caused the loss OF most OF the
earlier Improvement in the general list
/ Tennessee Coal dropped 10 IL per cent
against AN per cent, yesterdays final
sale. The explanation offered was the
/ denial of reports OF the impending pay
ment of the accrued dividens on the pre-
ferred stock The market closed with
net changes in either direction slight.
The trading in bonds was animated
! and irregular. The securities embraced
I in the Union Pacific system received
| substantial support on announcement
of the plan Of reorganization. the Texas
and Pacific and st. Louis Southwest
ern issues were notably weak, which
| was in a mea sure attributed 10 the re
cent unfavorabIe exhibits OF earnings
made. by the companies. The loss in
traffic returns is said 70 be caused by
the slow movement of cotton, as a re-
suit OF the bull movement in that sta
pie at New Orleans. The principal net
changes are: Northern Pacific and
! Montana first trust receipts and St
Louis Southwes tern seconds 3 per cent;
St. Louis and San Francisco seconds
class c, and Wabash debentures. series
B, 2 per cent: Texas and Pacific firsts
1Z per cent; Texas and Pacific seconds
/ per cent; st. Paul Minneapolis and
/ Minnesota seconds, Northern Pacific
! collateral trust skies and Burlington.
Cedar Rapids and Northern collateral
trust fives IL per cent and Rochester
and PittSburg firsts, Atlantic and Pa
cific fours, Consumers Gas Of Chicago
firsts, Cleveland and Canton firsts. In
ternational and Great Northern firsts
and Flint and Pere Marquette. Port
I Huron division, per cent: Advances:
. Union Pacific sixes'of 1896. IL per cent;
Union Pacific sevens Ia per cent; I'm
ion Pacific Of 1898, per cent: Terminal
Railroad OF St Louis consol fives an1
Kansas Pacific skies. Denver division.
assessed IL per cent; Kansas Pacific
skies of 1897, per cent: Kansas Pacific
consols trust receipts jumped per cent
to 81 per cent. and reacted to IS per
cent. Cleveland and Pittsburg sinking
fund fives rose IL per cent and st.
Paul. Minneapolis and Minnesota
firsts, Dakota extension. and TenneS-
see Coal firsts. Birmingham division, !
per cent
Governments were quiet with sales
Of SEQ 900.
State issues came in for more than US
ual attention and sales were noted for
5000 Louisiana consols fours: 5000
Tennessee settlement threes: 5000 Nir-
ginia deferred skies stamped and 81, 900
Virginia centuries
BANK CLEARINGS.
Philadelphia, Oct. 1s.-Clearings E4.-
72e. 537; balances s.. 200, 037.
St. Louis, Oct. 1s.-CIearings ;.4s4.
15e; balances $3.50. 20 Money and 7
per cent. New York exchange 81 dis
count.
Memphis. Tenn, Oct. 1s-Clearings
/ s553. 59s: balances $1es. 200. New York
| exchange $50
New Orleans. Oct 1s.-Clearings 81
SO. 229. New York exchange Bank
$50; commercial .,.75Si2 discount
Bank collecting rate par.
FOREIGN STOCKS AND MONEY.
New York. Oct Is.-The Evening
/ Posts London cabiegram says: The
/ next monthly settlement in Paris caus-
es anxiety although the recent lquida-
ton must have much decreased the bull
account The open settlement 81 Bar
/ nato shares VIII terminate next Mon
/ day. when deliverances amounting 20
about a million sterling have to b
I met There was one small failure today
I Americans. which had been tat on
fears Of gold exports TO Europe. closed
( much better with mines.
| Bedlin. Oct Is.-Tgae weekly s.ats-
| rsnt OF the Imperial Bank 90 Germany
/ shows the following changes as con-
! pared with the previous account: Cash
IN hand increased 9.4s0. GO marks. treas
J ury notes increased So. 90 marks. Other
! securities decreased =. $3.50 marks.
I notes IN circulation decreased :. ~. 90