The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-09-08
WENT TO THE RACE
MANY BROKERS ARE ABSENT AND
THE MARKET Is DULL
Dealings Confined Within Marrow Range
Advance In Tennessee Coal and Iron the
Days Feature-Week's Speculation Ir-
regular with the Treasury Outlook .
Constant Factor for Uneasiness-Crop
Prospects and Prices as Related to Steri-
ing Exchange-Bonds.


Prospects and Prices as Related to steri-
ing Exchange-Bonds.
New York, Sept 7-Today'S stock
market was exceptionally dull and the
dealings We're confined within a narrow
range, rejecting the absence Of many
brokers On account of the yacht race.
The only notable exception was Ten
nessee Coal and Iron. That advanced
rs per cent and the preferred per
cent and the improvement was retained
at the close. The only explanation was
the continued shipment in the iron
trade Sugar, General Electric and st.
Paul closed at slight advances The
general tone of the market was firm.
The course OF the speculation during
the week has been irregular. The OPP
erationS have chiefly been for the de-
cline and have been inspired by I'M
certainty as to the treasury outlook
when the time elapses during which.
according to the popular impression. the
acknowledgment syndicate is mo-
ally bound to maintain the $100, 0oe,0 900
gold reserve. This strength of the ex-
change market is undated in spite OF
the temporary and slight relief caused
by the actual exports, and gold bills
are about the only ones in the market.
Another point upon wnrch great I'M
favorable stress is laid is the consid-
cradle decline in the pices of our corn.
Wheat and corn are selling at prices
which will, from an exchange point
of view, require exceptionally large ex-
ports to figure on the right side OF the
trading balance. Indications are that
the crops of both winter and spring
wheat will be larger than the recent
estimates. 1t is now clearly evident,
however, that the United States no
longer CONTROLS the wheat markets
of the world, the situation being DOM
mated by the crop conditions of Asia,
India, Argentina and a number of small
producers of respectable aggregate ca
pacity. On the other hand cotton ex-
hibits marked strength, as that staple
is short crop and is unaffected by
serious competition of any foreign
country. The price of corn is actually
dropping toward basis of comparison
with that of anthracite coal. namely
about $3.50 per ton which is the whole
sale price of anthracite at present.
Nevertheless a great abundance OF corn
is a boon to the whole country for the
reason that corn is not money crop,
barely 10 per cent of ii reaching the
central markets, and not more than
21h per cent being exported.
The distribution of business in stocks
has been excellent and the tone was
fairly firm the greater part or the
week. The leading coal stocks attained
the highest prices of the year and this
fact has not escaped the attention of
shrewd operators who believe that
settlement OF existing difhcuitieS Is
near at hand.
Sugar was strong on the improved
statistical position of the industry ow-
ing to the recent successive advances
in its products. The declara ton of the
regular quarterly upon the common
and preferred stocks induced realizing
sales, resulting in the loss of one half
of the Improvement. The stock closed
1s per cent higher. The net results
were general gains as compared with
the final prices Of the previous week
The more noteworthy were Crie Tele-
graph 9H per cent; Flint and Pere Mar
uuette preferred 9 per cent; Tennessee
Coal and Iron AS per cent, and Lacka-
wanna AZ. per cent. The aggregate
sales Of the week in stocks were 1.49l,-
500 shares.
The total sales OF stocks today were
50. 400 shares; including American Su-
gar, $500; Atchison thirds, assessment
paid, $500; Burlington, 1900; Colorado
Coal, 400: General Electric, 1900; Mis-
court Pacific, 1900; Reading. 500: st.
Paul, 200; Tennessee Coal and Iron,
1920; Western Union, $500.
The trading in bonds in today's brief
session was rather dull but in the main
firm. Sales were 81, 162, 900.
The bond market during the week
was active and strong with some If
regularity in the speculative issues.
The more conspicuous advances were
in Oregon Navigation collateral trust
v,nsr Do fir lot Gr
al trust fives, trust receipts s per cent;
Wisconsin Central first trust receipts.
AZ per cent The total sales Of the
week were 16.014.000.
Government bonds were in improved
demand The dealings aggregated $751;
500. The variations in prices were
slight.
State securities were in moderate re-
quest; the sales included S55,6000 Viz
ginia centuries, 1000 Tennessee threes
and g.. 500 Alabama four and oae-halves.
class c.
Silver certificates figured for $4,000 at
671s and 67A.