The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-11-02

Some of the Trusts Factories, Declines
In Prices of the Articie-Two Factions
Believed to be ut Work In the stoox,
with tae Bears Uppcrmost-Pacifie Mail
Next In Importance. Falling on the Fail
urc of the Panama DeaI-Grsngers Give
Support-Bond. Firm.
New York. New The speculation
in stocks today exhibited a falling OF
il volume. The movement in prices
tal1ez as a whole, was less feverish than
on the preceding day. Sugar sock
counted in the days business for 1900
shares. leaving only an aggregate OF
100000 shares for the total OF the other
markets The stock was excited or
pool manipulation toward a lower lev
81 and the decline in it was attended by
various rumors and reports. Some cap
ital was made out of the fact that the
American Sugar Refining company was
10 close some OF its factories after cleo
ton day. The company usually takes
ehls course AT this season for dead work
and repairs a more reasonable infer
ence for the course OF the stock was q
and foreign markets There is reason
TO believe two powerful and antagonis-
tic factions are at work in the stock,
with the bear influence preponderating
at the time. Pacific Mail was the other
most important feature OF the specula-
ton. The announcement by the man
agement OF the Panama railroad that
negoti: sons for a settlement OF differ
ences and traffic agreement with the
Pacific Mail comany had been definite
ly suspended, IL they had not altogether
failed, was a surprise 10 the street.
An entirely different conclusion had
been anticipated. 1t had been expect
ed that decisive action one way or the
other would have been taken at a
meeting today. but for some reason, as
yet unexplained. this course was not
adopted. The effect OF the news was
an almost instant break OF per cent
in Pacific Mail al the outset TO 27la per
cent. Subsequently the stock rallied
to 2S3s per cent, and left off at a net
loss Of 212 per cent. The general mar
ket opened quiet and fairly steady. In
the early dealings. aside from Pacific
Mail. the market displayed strength
and, on light trading. Tobacco advanc-
ed IL per cent; Tennessee Coal l per
cent and the list generally fractions.
The bears, however, made their usual
drive after IL o'clock and affected de-
clines in Sugar "a per cent, Tobacco
IL per cent and Louisville and Nash
vile and Missouri Pacific / per cent.
The selling pressure abated about mid
day and on support the grangers rallied
to the best figures OF the day. The 9TH
er movements We're slight. Some note
worthy fluctuations occurred in the US
ually inactive stocks. Lackawan and
Illinois steel rose IL per cent and 2is
per cent respectively. On the other
hand, Wells Fargo Express sold down
TO 80, against 100 per cent, the last pre-
ceding sale. Erie Telegraph and Nor
folk and Western preferred lost Il per
cent and New England / per cent. The
market closed dull and firm. Sugar rec
ords a net loss Of ia per cent. but all
other leading shares show fractional
gains.
Railway mortgages were quiet and
somewhat irregular, but closed fairly
firm, New York. Chicago and St. Louis
tours are down IL per cent and Atchi-
son, Coloradon ad Pacific firsts. Atchi-
son adjustment fours. when issued. De-
troit Gas fives, and New Jersey Central
general fives l per cent. Hooking Val
ley fives rose l per cent
The dealings in governments were
confined 10 $1,000 OF the new fours cou-
pom.
Among state issues sales were made |
of 5000 Virginia centuries and $1,000 |
Louisiana consol fours.
London, Eng, Nov. Holiday: clos |
ing: Bar silver 30 1916 pence. Money |
1-2 per cent. The rate of discount in |
cent; for three months bills 3-i per
cent.
New York, Nov. 1.@Clearings $105, 437, |
165; balances 1851. 1913.
St. Louis, Mo, Nov. 1.-Clearings So
e99. $40; balances 1856. s79. Money 5Gt7 per |
cent. New York exchange % cents dis |
count.
BRADSTREET-S STOCK REVIEW.
New York, Nov. 1-Bradstreet's FL !
nancial review tomorrow will say:Fur- |
Their weakness in prices. accompanied |
by liquidation of speculative holdings !
marked the early part OF the week. II |
would. however, seem that the selling |
of weakly held stocks,i now practically |
over and that a great many shares 1
have passed into the possession OF the !
strong people There has accordingly |
been a rally from the lowest range OF |
quotations, though the market is mar |
row and professional in character and |
no little uncertainty in its ten
denotes. The bear traders have been |
active and the improvements was ap-
parently the result OF covering Of their |
short contracts, as. even at the decline |
in prices. the public seems 10 find no /
attraction in the stock market The |
movement was general. al |
though il should be mentioned THAI |
some Of the grangers, st. Paul in par \
have been relatively steady |
throughout. Several causes contribu- |
ted 10 make a break In prices. such as |
the market has just experienced. not |
only necessary but healthful- Despite |
the large volume OF railroad traffic in /
certain sections. and the accompanying |
improvements in earnings, there has /
been a fear that the continued drouth /
in the west and southwest would have 4
effects later on.
The condition Of the exchange mar
ket does not mend. this week having !
witnessed another advance IN rates al /
a level at which gold exports could i
again be excited. The coming session I
OF congress creates fear tha; while aEi-
tation OF the currency problem may en-
sue. settlement OF the matter on lines
acceptable 20 financial interests u I'M
probab Die. The foreign influences. too, I
have been altogether adverse EuT0ps
SIN unanifests distrust % our financial I
situation and some leading authorities
are said 70 entertain a belief that gold I
T. ~