The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-05
KEEPS On BUYING
LONDON STRENGTHENS THE MAR,
KET AT OPENING

impression Prevails Abroad that American
Securities are on the Eve Of IN Advance
Bond Syndicate Comes Round Late In
the Day with Enough Gold to Raise the
Reserve Half Million Over the Dead
Line-Market Wide and Very Irregular
Closes strons-Large Dealings In
Bonds
New York, Sept. 4.-The stock mar
ket today opened strong with improve
ment in values under the stimulus OF
fair buying for the foreign account.
Denver preferred was bought in antici-
patton Of the annual report which will
be given out simultaneously tomorrow
afternoon in London, Amsterdam, New
York and Denver. The exceptionally
favorable report OF the ST. Louis for
the fourth week Of August was not sat-
isfactorily reflected in the market
price. Sugar impaired sympathetic
strength to the other Industrials by an
early advance based on the unexpected
strength Of the market for refined su-
gars resulting in an advance Of Lie
cent per pound in all grades except
Nos. and 5, which were advanced Is
cent per pound. American Tobacco
opened rs per cent higher but subse-
quently developed marked weakness.
was distinguished by an unusually
wide distribution Of business and by
irregularity OF movement.
The failure OF the government bond
syndicate to make good the impairment
in the net gold reserve of the treasury
In the face OF engagements OF gold ag-
gregatin 81, 70S, 900 for export by tomor-
rows steamer. had a tendency to check
the advance but the hesitation was on
ly temporary. About IL o'clock a re-
action occurred which extended in the
grangers %Q11s per cent, the last in st.
Paul and in the specialties. Louisville
and New Albany preferred dropped rs
per cent subsequently, making full re-
covery. Manhattan on nominal deal
ings declined IL per cent, regaining all
OF the loss outside of a small fraction.
The advance which had been quite
marked in the southwestern shares the
previous day was checked by realza-
tions. The declines recorded in this
group did not, however. exceed frac-
tons. After 1 o'clock the anthracite
coal stocks displayed strength unabat-
ed up to the close. The upward move
ment in this group was more consistent
than usual Heretofore as the gains were
general and ranged from y to per cent
the last In Lackawanaa which had been
exceptionally dull recently. The rise
was variously explained as a move
against the shorts and as due to the
early impending completion of the
Reading reorganization plan. In coal
circles it has been held that a rehabili-
tation of the anthracite industry would
be impossible until the Reading had
been placed on a solvent basis. Sugar
was also a strong feature in the late
dealings. advancing III per cent.
The most important news Of the day
did not become public until about the
colse. consisting OF the deposit by the
bond syndicate OF $500. 900 in gold at
the subtreasury. This deposit placed
the reserve about $5O0. 900 above the
s. Oo, 900 900 mark.
Under the influence Of the strength
IN the stock above mentioned the list
became firmer. The market closed
strong.
The trading in bonds was again on a
large scale. aggregating $4,563. 900. The
temper of speculation was decidedly
bullish and numerous material adj
vances were established, the nDre i'm
portant are: Cordage f1rsts small bonds
AZ per cent; Pittsburg an Western lists
2 per cent; Erie IL per cent; Reading
thirds l per cent and Reading seconds
rs per cent.