The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-20
WEEK IS EVENTFUL
SOME THINGS THAT HAVE STIRRED
THE w0ELD OF BUSINESS

lid WVh1D w oOSl0 6SS
Unfortunate State Of Foreign Exchange
Onset by Improved Features In Manu-
featuring, Commerce and Tr.nsport.-
tioo-Whst IN Inquiry into the Causes
of the Exchange Situation Reveals n 20
Exports and Impo-ts-Gold Exports to
Baenos Ayres-Railroad Reorsaniz.-
tions and Rate Adjastmeots.
New York. Oct. 19-The speculation
in stocks today opened moderately ae-
tive and irregular. A weak tendency
soon developed in the active shares.
with General Electric and Kansas and
Texas preferred making the most i'm
portant losses. After the first hour the
market again became irregular. The
coalers declined fractionally, and Cleve-
land. Lorain and Wheeling preferred
lost IL per cent and Pittsburg. Cleve-
land. Cincinnati and st. Louis rs per
cent Support appeared in the grang-
ers and Tobacco rallied tx per cent,
while New York. New Hampshire and
Hartford jumped rs per cent on a
purchase of 100 shares.
The weeks market has developed the
fact that while buyers Of stocks have
been few. sellers have not been num-
erous- Accordingly, except in a few
noteworthy instances. the transactions
have been due to the room scalpers.
The dominant factor on the bear side
has been again the adverse condition
of the foreign exchanges, which point
ed toward gold exports. while, on the
bull side, there have appeared the sub
stantial results flowing from an in
creased commercial and manufacturing
business. improved earnings Of the rail-
ways and the largest iron output In
the history OF the country. The cause
Of the high rates of exchanges was
currently reported as due to the scar
city of bills. The fact 10 that our ex-
ports of merchandise IN September were
practically the same as in 1894, while
the imports of merchandise this year
increased s15.o00.0Oo as compared with
September 1894. During that month.
therefore, as many bills were offered
by exporters as were offered year ago.
but importers, having larger remit
tances to make, pressed their demands
result, in the month in question, OF a
net export of gold slightly in excess
Of the $4,000. 900 increase in imports Of
merchandise. During the present
month, our exports OF breadstuffs and
provisions have certainly been az large
as they were in the preceding one,
while our cotton exports, though much
less than in October a year ago, have
shown a sensible increase over Septem-
Der this year. Imports OF dry goods
and general merchandise are on a large
scale. therefore the reason for the rise
in foreign exchange Is not far to seek.
On Friday the strain on the exchange
market was relieved to a certain extent
by the operations in connection with
the sale of Arconda mining shares to
foreign capitalists. The sharp break
in the cotton speculation Is expected
to cause further weakness in exchange,
although according to experts, the Wis
ible supply of cotton at Liverpool is
fairly large.
The cause OF the exports Of gold this
week to Buenos Ayres, amounting to
100000. Is as yet not explained salts
factory. The publication of the Union
Pacific reorganization plan has been
reflected in material advances in a
number of the bonds OF the system.
AS the week closes rumors are revived
of a more favorable outlook for a sell
Element between the con tending inter
ests in Northern Pacific. The adjust
ment Of rate difficulties in the south
and west is an important factor. There
were few movements in prices calling
for comment, aside from Chicago Gas
and Leather preferred. The first men
toned rose to 717s per cent, reacted
10 fS1L ~ Ia
gal entanglements in connection with
the reorganization scheme, and closed
with a net loss of 1as per cent. Leath-
er preferred improved at the outset to
81 y per cent, reacted to 75% per cent
ex-dividend of 9 per cent, rallied to
1875 per cent, declined to 761z per cent
and closed at 771s per cent, a net loss
OF Ia per cent. Early in the week a
squirt In the grangers carried North
west to 1071s per cent, the highest OF
the year. For the week fractional
losses were recorded for most active
stocks. Tennessee Coal, exceptionally,
lost rs per cent and Sugar per cent,
the last on alleged unsatisfactory trade
conditions. In the specialties, Starch
first preferred lost So per cent. LaClede
Gas ga per cent and Indiana, Illinois
and Iowa and Evansville and Terre
rose per cent; Chicago. Evansville and
2x per cent and New York,
New Hampshire and Hartford 2h per
cent. The aggregate sales were 923,-
200 shares.
The total sales OF stocks today were
ss.S1 shares. including: American
Sugar 800: American Tobacco $500:
Atchison 900: Burlington 400; Dis
filling 100; General Electric 1900: Kan
sas and Texas preferred 2.s0o: Louis
vile and Nashville LOO: Reading a.
700: 81. Louis and Southwestern prefer
red 1.5o0; St Paul /. 500 Tennessee Coal
and Iron Ii 700: Texas and Pacific 2ioo:
United States Leather preferred 300:
Western Union 1900: Wheeling and
Lake Erie 400.
The speculation in bonds today was
fairly active and irregular. with the
changes narrowing in most cases. The
sales were $685.. 900.
The bond trading for the week was
fairly active and irregular with a
trend, Union Pacific issues
We're strong on the announcement OF the
reorganization plan Oregon Short
Line consol fives trust receipts were
largely dealt in and rose 2s per cent.
but subsequently, lost the Improvement.
Texas and Pacific and St Paul and
uthvestern issues recorded material
declines on the decreasing earnings.
The dealings aggregated 81. so. 90.
Governments were quiet and easier.
The sales were $500