The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-17

Ous u one tnot mas uTm L0o&ment-ho
mors Of . Conference Of Bankers to Con
cert Measures for Relieving the Govern
ment Financial situatioo-stoek Marke
Irregular and Wildly Rluctuatiag.
New York. Sep. 16.-There was nc
change today in the character OF the
stock speculation, the most conspicu.
Gus feature being irregularity Of move
ment and violently changing fiuctua-
tons. The volume of business was
quite heavy compared with recent av-
erages and the dealings were very well
distributed. London was less bearish,
buying at least as much as il sold, and
the quotations for American securities
IN that market were about equally di-
V1ded between gains and losses.
The chief considerations bearing on
prices were unchanged. also consisting
OF conjecture as to the gold export out
look. the position Of the bond syndi-
cate and the banks toward the treas
ury, and the probability or improbable
| ty OF an issue Of government bonds
/ in the near future. The money market
| showed rising tendency and fairly
4 eoi sc SAAiS WCiC lVdilcu Oll Cdli dl Oh
advance Of IL per cent above the quo
tations which had been ruling nominal
iy for q long time past The exchange
market was heavy, being chiefly affect
ed by the large gold exports and firmer
money rates. The actual engagements
OF gold for export by tomorrow Seea-
mer amounted TO only loco 900. The
street was agitated from time to time
by rumors of conferences Of bank pres
1dents to discuss government financial
| relief measures and OF a meeting be-
tween the head Of the bond syndicate
and the treasury officials.
The first mentioned report was dent
ed by several leading bank presidents
Who made the point that as only a
! limited number Of them had any Con-
siderable stock OF gold a general meet
ing was necessary. 1t Is certain that
the Assistant Secretary OF the Treasury
W. F. Curtis. Conrad N. Jordan and
members OF the firm Of ]. p. Morgan
& Co.. were in consultation. The gen
eral conclusion drawn was that the
business in hand was a discussion OF
the government bond ISSUE which tho
street now believe to be near at hand.
No confirmation Of this theory could be
obtained in official circles. No deposits
OF gold were made in the sub-treasury
for account OF the syndicate or the
banks
An important item Of news escaped
the notice Of the Wall street communi-
ty. consisting of an advance in anthra-
cite coal prices by the New York COM
paHies, OF 10 to 80 cents per ton. accor-
ding to size. bringing stove and chest
nut coal up to the basis of $3.50 along
side tidewater. The grangers took up
the largest share Of the dealings with
the industrials. as a group. good sec
onds. Sugar led in point of activity,
followed by the grangers. Distilling.
Reading. Atchison, Tennessee Coal and
Missouri Pacific In the initial sales
the bears made a. demonstration
against the grangers and low priced
shares but soon extended the scope Of
their operations and brought about
general recessions. New Jersey Central
declined 3 per cent; Susquehannah and
Western preferred and Tennessee Coal
2 per cent; Delaware and Hudson; ST.
Louis and Southwestern preferred, and
Kansas and Texas preferred Ia per
cent. Other declines were immaterial
Near 1890 under the leadership OF Su-
gar. which rose per cent, the entire
market advanced. Tobacco and New
Jersey Central gained IL per cent and
the other market form X to TX per cent
Soon after IL O'Clock the market was
again weak. Manhattan scored an
extreme loss Of 2Z per cent and the
other shares recessions Of HT1i2 per
cent. Soon after midday the bulls rail-
lied in support Of the market and save
for slight recession around / p. m.
the advance was unin Interrupted up TO
the close. The rally in the leading
shares as compared with the earlier
low figures was substantial and gen.
eral, Tennessee Coal gaining an ex-
treme OF 3h per cent, and Sugar pa
per cent The market closed strong
at about the best figures OF the day.
the last prices showing general appre-
citation over last weeks closing figures
In the afternoon trading. notwithstan-
ding the Improvement in the general
market the COrdaRe shares Were con-
spicuous for pronounced weakness.
The declines in them ranged from TO
3A per cent, the latter In the guaran-
teed stocks. In the final dealings fee
BILE rallies occurred. The Flint and
Pere Marquette shares became prorni-
nent, selling of 81 and per cent re-
spectively., The total sales OF stocks
today were 450.377 shares, including:
American Sugar $500: American To-
bacco 800: Atchison third assessment
paid 1880: Burlington 30. 300: Chicago
Gas $500; G. G. G. and 81. Louis $500;
Distilling g, 900: General Electric $500;
Kansas and Texas preferred 100: Ms
souri, Pacific 5000; New Jersey Central
1920: New York. Susquehanna and
Western preferred 300: Northwest
$500: Pacific Mail 1000: Reading q. 700:
Rock Island 1880; ST. Louis and
Southwestern preferred 800; St Paul
$500: Southern Railroad $500: Southern
Railroad preferred $500: Tennessee
Coal and Iron %. 400; Texas and Pacific
800; Wabash preferred II 400; Western
Union $500: Wheeling and Lake Erie
1900
There was a moderate increase in the
volume OF bonds today. the sales az
gregating $3.50, 900. The temper OF
speculation was decidedly weak IN the
early trading but In the late session
an improved tone was evidenced which
was due to the change OF sentiment In
the share speculation
LONDON STOCK EXCHANGE
New York. Sep. 1.-THE Evening
Post special London financial cable
gram says: The stock markets were
steady today excep. for Americans
which were fat on the uncertainties
OF the treasury situation. There was
a strong rally midday on influential
purchases by Kaffir operators, but OF
renewed selling In New York. the tone
closed fat St Paul and Wabash
bonds were specially offered. This con
tinued American selling on each rally
here Is killing the market
GOLD SITUATION.
New York. Sep. 1s.-Crossman and
Brothers have engaged 81 go b in
gold at the sUb-treascry for exporta-
ton tomorrow.
Washington, S~p. fs-The true am
cunt Of gold reserve at the close OF
business today was IS 3fs. So Stnce
the recent heavy shipments Of gold 49,
IN the government, has received a nun