The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-01
ALL PRICES ARE UP
LOW-PRIOED STOCKS ARE C0NsPIO-
U0USLY FIRM.

Coalers and a Few Of the IndustriaIs Mani
fest Notable Activity-Buying for the
Long Account Encouraged bv Higher
Quotations for Americans in London
Independent DistiIlers Jar the Trust
Stock-Importance and Effect OF Erie
ACKNOWLEDGEMENTS Strong on Higher
Marke;s-High Mark for Changers.
New York. Aug. S1.-The stock mar
ket today was exceptionally active for
half holiday preceding two other
holidays and with hardly an excep-
ton in prices were recorded. The new
independent combination of distillers
affected Distilling stock to the extent
OF a slight fractional loss. The fea-
lures in point of activity and strength
Were the coalers headed by New Jersey
Central and Reading: ST. Paul, Louis
vile and Nashville, Sugar, Tobacco and
Chicago Gas. The low priced stocks
were consciously firm.
There was fair buying for the long
account Influenced by the higher Lon
don quotations for American securities.
The movement for the week has been
irregular, among the dominant influ-
ences being the exchange situation. As
the intention of the government bond
syndicate to maintain the treasury gold
reserve at the 100000. 900 mark became
more clearly appreciated through sue
cessive deposits of gold the effect of
the exports Of gold weakened. The real
difficulties of the treasury as to its
reserve will come about some time next
winter or in the early spring unless.
meanwhile, the attitude of the for
eiSn investors changes radically and
they become buyers of American secur-
tiles with something like their old time
vigor. The publication of the Erie plan
of reorganizat ton must be considered
to mark an important turn in the rail-
way and financial world. Its terms are
of necessity heroic but the desperate
condition of the property compelled an
affective readjustment.
Sugar declined 2Ss per cent to 1865
per cent; rallied to HIS per cent and
closed at Ill per cent. The strength
at the close was based on the firmer
sugar market and the expectation OF
the declarat ton of the regular quar-
terly dividends on Friday of next week.
Tobacco fiuctuated widely and closed
stock has been affected by continued
liquidation and hammering by the trad
ers on belief that further hostile pro-
ceedings will be broken by the strong
opposition. Tennessee Coal sold up
AS per cent TO i0A per cent, the best
figure of the year, and retained all but
a small fraction of the improvement.
The Changers rose rs to Az per cent,
st. Paul leading. The best figure of
the year were attained by this group,
Burlington excepted. The London sell
ing of st. Paul is believed in the street
to be due to early information that the
directors will declare less than per
cent on the common stock for the half
year at the meeting on September L.
The Earle shares rose rs per cent and
54 per cent respectively but made a
partial reaction. The week closed with
the bulls having a firm grasp on the
speculative situation. The more i'm
portant gains are: Tobacco preferred.
~ per cent; New Jersey Central, 16ih
per cent; Denver and Rio Grand pre-
ferred, AS per cent, and Panhandle pre-
ferred and st. Paul per cent. The
aggregate sales of the week were 1,614,-
631 shares.
The bond market today was strong
and active with sales of s1,57O.0O0. The
net results reveal gains generally, De-
troit, Minneapolis and Milwaukee land
grant fives in the lead with an appro-
priation Of per cent.
The trading of the week was charact-
cried by marked strength and many
substantial advances occurred. Lead
ing investment houses report their in
ability TO fill investment orders for
European, Canadian and domestic ac-
count. The gains on the week range
up to 11la per cent on Oregon Short
Line trust fives. Wisconsin first trust
receipts rose Az per cent in anticipa-
ton Of the early announcement of the
plan Of reorganization. Other advances
of note are: Erie second consols. per
cent: Erie stamped, per cent. and Erie
funding fives trust receipts 90 per cent;
Chicago and Erie firsts, ~ per cent;
Chicago and Erie incomes ~ per cent:
Hannibal and st. Joe consols 65s: Union
Pacific, Denver and Gulf firsts 81 and
Kansas Pacific consols trust receipts
per cent. The sales were $40 2s9, 900.
Government bonds were neglected at
the board. Round amounts. however.
changed hands over the counter al
slight advances.
Silver certificates were quiet with
sales Of $4,000 at 81 per cent and 67ia
per cent.
New York Loan Market.
New York. Aug 31-The New York
Financier says this week: The state
ment of the Associated banks OF this
city for the week ending August 81,
1895. shows a small falling off in loans.
the actual decrease being s272.7 100. due
to the liquidation in the stock exchange
market rather than from commercial
sources.
The loan item. however. is t24 600. no
in excess Of the total reported for the
spending week last year and 800
900. 900 higher than on January OF the
present year. which shows better than
anything else the steady increase in
business throughout the country. The
banks lost SS44. 300 in specie. owing 20
the deposits Of one or two institutions
with the sub-treasury on bond syndi- |
cate account
The normal course OF business al
present would naturally lead 20 the /
belief that the statement should show
q decrease in the volume OF legal ten |
ders, instead OF an increase OF s2.77s,- |
400 as reported. especially since the |
banks are losing legal tenders % the |
sub-treasuTy on account OF gold *
ports. and also shipping more c'.rrency
u the interior than they are receiving. |
The bond syndicate, however. during /
the period covered by the statement. |
paid 20 the banks The remainder % their 1