The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-22
MOST ARE GAMERS
LEADING STOCKS END THE WEEK
AT GOOD ADVANCES.

SIGNALS In for Their Own Kind of Trad
ing-Str.ct Attention Paid to the Gold
neutrality-suspicious. of Withdrawals
| with Previous Weeks Exports -Expec-
tation of Higher Money Rates-Ex-
change Market Easier-Bonds.
| New York. Sept 1.-THE stock mar
ket opened active and irregular with
| but slight changes in prices. The spec
| ulation is assuming a decided tone and
| in comparatively light trading, advan-
| ces were scored extending to l 5-S per
| cent in Chicago Gas, 3-S per cent in
Southern preferred, Sugar l Is per cent,
st. Paul per cent, and per cent each
| in Tennessee Coal. Missouri Pacific and
| Cordage guaranteed. Tobacco opened
1 "a per cent lower at 9S 1-2 per cent,
| rallied to 100 - per cent and receded to
SO Is per cent at the close. The adj
vance in the general market was stem
med for brief interval around 1880
and then prices again moved upward.
In the late trading there was an easing
off Of the top figures in part due TO the
final raid on Tobacco. The market
closed generally firm and as result Of
the days operations final prices show
ed fractional gains generally and an
appreciation of 3S per cent in Chicago
| Gas.
The specula ton during the week has
afforded ideal opportunities TO the pro-
fessional traders as the fluctuations
have see-sawed violently in either di-
rection. The attention of the financial
community has been chiefly drawn 10
the gold export outlook and the action
OF the treasury in relation TO the re-
serve. The Withdrawals of gold have
been insignificant compared with the
heavy exports Of the preceding week
and this condition naturally eXerted a
favorable influence upon the market.
The decrease OF 81, 241, $50 in the surplus
reserve of the New York Associated
banks bringing that item down to S22,
443. 800 as compared with S59974,615 a
year ago, has caused expectations of
higher rates for money in the near flu
ture. There is, temporarily at least,
an abundant supply offering at nominal
rates. This fact has undoubtedly great
~ facilitated the extreme manipulation
of the industrials which has been the
distinct featu of the speculation. The
movements in this department have
been characterized by typical Irregular
ity and wide range of fluctuations. In
the early week trade in Tobacco stock
reacted a fraction, then advanced 9 IL
per cent, 10 lUf per cent. TcdCltu u 30
Per cent and closed at 9S1-S per cent.
Chicago Gas at last closed IA per cent
up. The manipulation has been at
tended by reports of the entrance of new
and powerful interests into the board
and Of reorganization Of the property.
Sugar eased off a slight fraction then
jumped SIP per cent, to los 3-4 per cent,
reacted to 104 rs per cent and closed at
Jos 3-S per cent, leaving a net gain of
y Q 8.
decline of / 3-S per cent early, jumped
5 per cent on the realization of the long
expected dividend of 1 per cent. The
net gain was per cent. The railway
list has been strengthened by the har-
moniouS progress of the negotiations
for the rehabilitation of trunk line and
connecting rates and the coalers were
stimulated by the successive advances
in coal prices both here and in Phila-
delphia. An easier tendency to the
exchange market exerted an important
influence upon the general speculation.
Among the other leading properties de-
manding notice. the extreme range was
in New Jersey Central. The stock broke
5 per cent, to 107 per cent, rallied TO rs
IA per cent and closed at Ia per cent,
a gain of per cent for the week. Wide
fluctuations also occurred in Tennessee
Coal Manhattan, Distiiling, Kansas
and Texas preferred, Missouri Pacific,
Cordage guaranteed, Flint and Pere
Marquette preferred and Delaware and
Hudson. The tone at the close of the
week was generally firm. The MAORI
~ Of the leading shares show substan-
tial gains as a result Of the trading.
The more important advances were in
American Coal 10 per cent; Lackawanna
5 SIS per cent: the grangers per cent;
TO AS per cent; Erie Telegraph 3 per
cent; Louisville and Nashville 8 Is per
cent and General Electric 8 per cent
The aggregate sales of the week were
1873, 500 shares.
In today's bond market firmness pre-
vailed on a moderate volume of bust
ness. The sales were $4,000
The bond market for the week was
somewhat irregular but closed firm as
the speculative issues recording gains
generally. The sales were 1880, 000
The more important changes are: Adj
vances-Oregon and California fves 9
per cent; st. Louis and Cairo firsts IL
FER cent and Toledo, Ann Arbor and
Grand Trunk firsts trust receipts .
per cent.
Declines-Kansas and Pacific consoi
fives and Hannibal and St. Joseph con-
sol fives per cent.
Government bonds were neglected.
LOAN MARKET.
New York. Sept. 21.-The New York
Financier says: The statement Of the
Associated banks Of New York City,
for the week ending Sept. 81, reflects IN
part the effect of the higher money mar
ket and the movement Of money abroad
and 10 the interior. The unusually
large decrease in loans-s5. $50 000-cOm-
ing after continued expansion which
had increased that item from S506176.0oo
on July - 10 1922. SOS, 900 on Sept. 16
can be accounted for on the theory that
leans made at the prevailing low rates
during that period have been called.
Whether the falling excess reserve,
bringing with il higher money rates.
will still further contract the loan &C
count is a problem. The rate for loans
during the week ranged around per
cent. The situation favors higher
money market. The demand from the
interior continues. The decrease in
the holdings Of gold reflect deposits
made with the subtreasury. or with
drawals from the banks for that pur-
pose and the heavy loss in legal ten
ders is a Debated evidence Of the loss
sustained during the previous week
when the heavy movement Of gold was
a It's height.
The decrease Of H3. 90 sos II deposits
has not been eQualled this year al
though IN the six days OF January, be
tween the 2sth and Feb. >. the loss ex-
ceeded 81. GO Coz That TOO was az
time gold was going 20 EurOpe-
BANK CLEARINGS-
Chicago. Sept. 2l.-Clearings s12.ss.
o00. Money on sharp call with APPROX
81 local collateral per cent. At the
Commercial hank call loans are quoted
al SIS L. ger cent and time az 5I-3d6
Per cent New York exchange 40 cents
discount Bankers London sterling
slss l-2GlsS Is