The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-03-01
PLAYING ON FEARS
BEARS AUGMENT THE GOLD SHIP
MENT UNEASINESS
Although Saturday is the Nearest Day Ship
ments Could be Made and the Bond
Syndicate is Supposed to Control the
Sterling Exchange, the Fear of Exports
Appears to be Chronic--Hore Activity
on the Market but it Rules Heavy and
Final Figures Mainly Lower Than We'd
nesday's Closing--Bonds Lower.

| New York, Feb. 2s.-The share speculs-
| non today was more active than for some
| time past but the market was rather
heavy and prices as a rule closed at
fgures below yesterdays final sales.
| There are special causes for the decline
OF certain stocks, but the general factor
IN creating the depression was the fear
| that gold shipments was imminent. Look
Ing at the question in the light of cur
| rent quotations for sterling exchange,
ther was some foundation for the belief
mat gold exports this week were prob
abe, but considering that 10 shipments
can De made before Saturday and that the
| bond syndicate is in a position 10 furnish
piiis OF exchange at figures below the
prontabie shipping point. it was a
strained conclusion TO arrive at that
the flow of the yellow metal would be
eaSl"dru VI course ii was the bears
who talked loudest of the resumption of
,he specie exports and they found enough
peiieVers TO help them swell the volume
OF the sales and consequently to depress
prices. The street, however, in the main
gave no creoence to the gold shipment
tneory and toward the close of business
an easier feeling was experienced in the
exchange market which was due to
the offerings OF bills by syndicate houses
at concessions from previously prevail
ing prices. LONDON was q seller OF Ine
international stocks in this market there
being also talk of United States shipments
OF gold. Louisville and Nashville was
quotably weak on liquidation from foreign
as well as local sources, indicated by
rumorS of a threatened southern rate
war and OF depressing traffic owing to
the unusual severity of the weather in
the south. The stock broke e5s per cent,
10 1855 per cent, and closed within
per cent of the lowest point touched,
a greater number of shares having chang
ed hands than in many 81 day. The
Granger shares Were weak under the in
huence of a heavy movement in St. Paul,
which was based on reports cabled from
London that the declaration of the next
dividend was doubtful. a decline of l
per cent was recorded in the common
stock, with final rally of Il per cent.
The preferred lost Il per cent. Bur-
hngton fell off l per cent recovering Il
resaining IS per cent. Rock Island re-
corded a decline of Z per cent. a DEM
onstration was made against New York
Central during the morning and free sell
ing was INDUCED in with the result of
breaking the stock 24 per cent. During
the afternoon the pressure to sell was
Withdrawn and the stock was held firmly,
closing at a recovery of 3. per cent.
Nothing definite is known 10 account for
the liquidation in the shares,t bu it is
possible that some action in regard to the
future dividends may have been taken
at yesterdays conference of the executive
officers of the Vanderbilt roads, which
is not known to the general public. OF
the coal shares, New Jersey Central alone
was utdll III 10 any eSttHl- II NdS SUD-
jected to a bear attack which sent the
price down 13s per cent, with a rally
of a per cent at the close. Despite re-
ownership rumors, Missouri Pacific gained
Is per cent on the day, no party in the
market apparently caring to take the
risk of putting out any extensive line
of shorts in the face of Gould'S statement
that he proposes to protect the property. |
After delivery hour there was buying |
to cover short contracts, which caused a |
smart rally, and the market closed steady. |
In the list of declines are Bay State Gas, /
22s per cent; Lake Shore, IL per cent; (
Cordage preferred and Manhattan, III (
per cent, and Pittsburg, Cincinnati, Chi !
cago and St Louis, Baltimore and Ohio, (
Lead and oCrdage common, ! per cent. 4
Leather preferred shows a gain of IL 4
per cent and Cotton Seed Oil per cent. /
The morning bond trading was firm, /
but rather quiet. In the late session /
there was increased activity and the .
speculative issues were generally lower, !
in sympathy with the weakness of the ,
share speculation. The total sales We're /
s755. 900. The more important declines are |
and St. Louis firts. Az per |
cent: st. Paul, Minneapolis and Minnesota, I
Montana Extension fours and Seattle, |
Lake Shore and Eastern frsts trust re-
,eiptS, per cent. AdVanceS--LonS DOCK,
skies, per cent.