The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-12-20
PRESSURE is HEAVY
FOREIGN AND DOMESTIC DEALERS
BEAR DOWN AT ONCE

Venezuelan Message Is the Principal Factor
In the Days Operations British Cousois
Lower in London Along with Americans
Gold shipments for Saturday Esri-
mated at Probably -Four Niliions-More
Conservative Attitude of the Senate
Steadies the Markets Gables from Lon
don Testify to .-Indignation.-
New York Dec. 1e.-The stock mar
ket today was subjected 10 pressure by
foreign and domestic dealers for both
accounts Naturally the agitation
aroused by the now famous Venezue-
Ian message was the cardinal infiunce
upon the speculation. British consols
and American securities in Londor
were lower this morning, the declines
in the last named reaching full figures
in most instances. The extreme loss
was 2l2 per cent. In this market the
internatio shares were severely
pressed, although well informed deal
ers expressed the opinion that the larg-
er proportion OF the sales was for the
account OF local traders. The cabled
sales were not much more than half as
large as those reported yesterday. Eu-
ropean liquidation OF our railway bonds
was also lighter than had been antici-
pated- Some OF the larger exchange
houses early in the afternoon confirm
ed the estimates that have been pre-
viously made, placing the probable
shipments of gold by Saturdays steam
ers at minimum Of 5000. 900. Author
tiles on exchange expressed the opinion
that steady exports OF the precious
metal are likely TO be made for some
time TO come, regardless OF whether Eu-
rope sells our securities or not 4 furth-
er advance IN the exchange market in
the rates for demand bills was a feat
ure and the Jump in call money rates
10 per cent also attracted special at
tenfion. The rate reacted later 10 per
cent. The facts noted obscured the in
nuence OF the declaration OF the regu-
far dividends upon uhe Vanderbilt
stocks. In the afternoon reports fro1a
Washington that the senate would take
deliberate action on the Venezuelan
commission bill, started covering Of
shorts on large scale and moderate
buying for long accounts. The latest
London cables reported a more steady
condition OF prices. The local market
was more active than on "Wednesday
and the distribution OF business was on
a broader scale. Up to about 1:3O
O'Clock there was practically no sup
port and recessions were noted. extend
ing to 80 per cent in the specialities
and in Consolidated Gas. The losses in
the regularly active list reached So per
cent in Kansas and Texas preferred.
The securities of this company were
subjected to special attack on account
of the strike OF coal miners in its terri
tory. In the afternoon rally OF all
the leading stocks took place, and sub
stantial recoveries from the extreme
low points Were recorded, despite the
furry in call money rates noted else
where. The greatest improvements oc-
Cured in the grangers, industrials coal
ers and some of the specialties. In the
final sales shading Of prices was ap-
parent in some cases. which impaired
an irregular tone to the closing. Final
figures show material net losses as a
rule.
way and miscellaneous bond market
continued downward today. Sharp de
clines occurred in the speculative is
uses. ranging up TO Az per cent in Read I
ing fours trust receipts stamped and
Reading trust receipts fours yielded
about 3 per cent each. The dealings /
were on a large scale, aggregating 81
221 900. State issues were dealt in 10 j
the extent Of $36. 00O
FOREIGN STOCK MARKETS.
New York, Dec. 19.-The Evening 4
Posts London cablegram says: The /
stock markets opened fla: on the Amer /
lean news in the morning papers. Amer /
leans We're sold heavily by bears and .
real holders alike. A telegram receiv- 1
ed al midday saying that the senate 4
had expressed more moderate senti- I
ments in the direction OF the appoint !
mSnt Of a commission on the Nenezu- !
elan boundary. induced a rally, mainly |
in the form of bear purchases. but not I
by the public. The closing prices were F.
at the very lowest and with the panicky .
feeling in the American market, even .
the best gold bonds We're presistently /
offered by English investors. Indigna- /
ton a { President Cleveland's tactics by .
all those here interested in the financial I
welfare of America, grows. Whatever /
the outcome may be, public confidence 4
here has received a shock from which
recovery will be painfully slow.
l learn definitely that s.. 200. 600 in gold 4
has been engaged for shipment on Sat
urday 10 this country in addition 10
any sent TO Germany. Well informed
another s., O00. coo shortly. A premium
on gold in America is looked for early
next year, while the hopes OF President
Cleveland restoring the American cur
rency 10 a sound gold basis are re-
garded here as crushed. The other 4
markets were fiat but not like Amer
leans. II is believed that presently |
there viii be rush for all home securi-
ties. The coin and bullion in the Bank
~ e
this week. although 229. coo pounds net
gold was imported. thus showing that
improved trade is absorbing money. a
further rise in public deposits was a
fea ture Of the statement. The total is
much higher than usual, which testified
to the large Increase in revenues from
death duties. stamps and other taxes
Other deposits were lower. as Is usual
AZ the end Of the year. The details OF
the gold movement for the week were
So. 600 pounds bar bought. 5000 import
"a 10 South Africa and $3.50 pounds
bars 70 destination not stated
Paris. France, Dec. I9.-Th@ markets
were fat today. more on the collapse q
Spanish and Italian securities than on
American politics Brazillians slump
ed on the political complexions.
Berlin. Germany. Dec ls.-The mar
kets here and in other conci1ental cen
tiers are fat today.
FOREIGN BANK STATEMENTS
London. Eng, Dec le--The weekly
statement OF the Bank % England. -
sued today. shows the following change
as compared with the previous account:
Total reserve. decrease 90. 90 pounds:
circulation. increase ia. 600: bullion. de-
crease. I4s. 055; other securities. ioc-@a -
81 600. other deposits. decrease $3.50;
public deposits. increase $500: o1'es
reserve decrease rs COO government