The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-07
POUNDED BY. BEARS
0CK MARKET MAKES A GOOD
START BUT FALLS DOWN.

buying ZOE tu8t account Snorts Soser-
ing Causes an Early Advance In Sugar
European Political and Financial Com
dustrials, Coaiers and some Others
Close Irregular at Material Net Losses
New York. Nov. 6.-Upon q larger
volume of business than has been noted
for a long time past, today's stock mar
ket. after momentary strength at the
outset, yielded and continued weak and
excited 10 the close. The opening was
active ard was favorably influenced by
higher prices for American securities
in London, and by early buying for that
account in this market In the initial
trading, buying TO cover short contract
caused an advance Of 3-s per cent in
Sugar. Mobile and Ohio gained ! Ii
per cent on reports OF a change for the
better in earnings, and General Electric
improved is per cent on rumors OF
renewal of negotiations between that
company and the Westinghouse inter
ests. No. confirmation of the last men
toned theory had been obtained UP TO
the close OF business The bears soon
assumed the aggressive on adVices or
further political and financial compli-
cations in Europe and began hammer
ing prices, making special drives at the
industrials, coalers and some or the
Specialties. Leather was attacked on
the closing down OF the tanneriss for
sixty to ninety days, recently ordered.
Tennessee coal scored an exceptional
break OF per cent on the explanatory
report OF heavy liquidation by an OPP
orator OF some prominence. The coalero
70
that the greater part Of the anthracite
now being moved, is at prices consider
ably below the present circular, and
also by statements that the active in
quiry recently reported has slackened.
About the only real news, aside from
that noted, consisted of railway earn
ings, chiefly for the fourth week and
month of October. The exhibits were
mostly favorable. although some nota-
bic exceptions occurred. The most
important of these We're in the South
westerns. Missouri, Kansas and Texas
shows a decrease of gross earnings OF
$l75.472, and Texas Pacific a loss OF
$226,569. The unsatisfactory showing
in each case is attributed 10 the falling
off in transportation of cotton, and to
unsatisfactory rates for freight. The
latest estimate OF the cotton yield point
to an aggregate of 6.435, 900 bales, as
against 1901 900 bales a year ago. The
declaration of the regular semiannual
dividend on Cotton OIL preferred, and
the publication of the advance sheets
of the report for the year ending Aug.
81, failed to affect the stock. The COM
mon sustained an extreme loss of 3-S
per cent, but subsequently, rallied per
cent. In the industrials the declines
at the extreme low point extended 10
! 1-2 per cent in Leather preferred. To-
ward the close a sharp rise occurred
in prices in which some shares touched
figures above the final transactions of
Monday. The rally was attaended by
late reports of a more reassuring char
acter from Europe. In the final deal
ingS the bears resumed the aggressive.
especially against the coalers and some
of the specialties. The closing was ir-
regular; with material net losses in the
industrials.
The miscellaneous and railway bond
list was erratic in the early operations.
In the late session, however. there was
a general shading off in prices. The
Atchison issues alternately advanced
and declined and the dealings in these
bonds footed up sci 900 out of a total
for the day of s2.573.0O0.
Governments were neglected. The
transactions aggregated only 81 900.
BANK CLEARINGS.
Philadelphia. Pa, Nov. 6.-Clearings
s6l6, 739, $50; balances 81 .S76,7s4.
St. Louis. Mo, Nov. 6.-Clearings 81
556. 401; balances s551.ss Money 5G7
per cent. New York exchange 25 cents
discount bid
New Orleans. La, Nov. 6.-Clearings
81 1896. 36S; balances 1882. 1S9. New York
exchange: Bank par: commercial 81. 25
per LOCO discount.
Memphis. Tenn, Nov. 6.-Clearings
s650,2S7 balances s1s5.154. Exchange
$3.50.