The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-07-07
BEARSSTART EARLY
CHICAGO GAS Is THE CHIEF POINT
OF OPERATIONS.
There are Two Attacks and Two Recover
les from the Effects Thereof, the Last
Due to Shorts CoverinS-Rumor that
the Trust is to be Turned Over to the
Tender Mercies Of the Attorney General
Market Closes Firm and Higher
Weeks Trading Dull and Unsettled
Bonds for the Day and Week.

New York, July 6.-Chicago Gas was the
weak spot in today's market. This morn
ing's advices from Chicago were to the
effect that while President Lincoln had
not yet sent in his resignation, il was very
probable that he would do so, as Colonel
Payne, at whose request he became the
chief executive officer of the trust, had
some time since sold out his stock in the
company. Reports from the same source
stated that other Chicago directors would
resign and that the attorney general
would be allowed to push his suits against
the trust to the end that the company
affairs be put on a new basis. The
bears took the initiative at the opening Of
business and forced the stock down q per
cent, but on brisk covering an advance Of
rs per cent was quickly made.s At the
higher figures the attack was renewed,
and sharp decline of per cent followed.
Toward the close, a covering movement
caused rally of Is per cent, restricting
the loss on the day to z per cent. The
general list became moderately active and
in the main higher, and an advance set
In ranging up to per cent. New Eng
land leading the railway group and the
Tobacco shares the industrials. The de-
perssion in Chicago Gas caused re-
action of Us per cent in New England
and a fraction in the general list but in
the final trading there was a partial re-
covery and the market closed firm and in
the main higher than yesterday. The
gains are fractional except that Sugar
shows an improvement of per cent.
The trading of the week has been dull
and the market unsettled, having been
largely in tn hands of the professional
operators. At the outset the traders
ranged on the short side and inaugural
ed a movement against the Industrial
shares. which resulted in a heavy break
in these stocks. The advance in the
price of Sugar induced the formation of a
bull pool in Sugar stock, which moved the
price up. making a net gain of 55s per
cent. TIL railway list in the earlier oper-
ations ruled lower in sympathy with
drive against the industrials, and al
though the granger group at one time was
the target for the bears and yielded under
their efforts, the list generally closed high
er on the week The sustaining factors
in the late speculation were the receipts of
favorable traffic returns, cheering crop adj
vices, London buying and the improved
business outlook, which caused heavy
covering by the shorts. The transactions
of the week aggregate 1,076.700 shares. and
1873 stocks figured in the dealings.
Todays bond market was dull, the sales
being only $500 and the tone Of the trad
ing was shade easier.
light and but $31 500 were dealt in. State
bonds were in better request and Sill, 800
changed hands.
The bond speculation Of the week was
inactive and devoid of special features.
The sales wre Sc, 933, 900 and 234 bands were
dealt in.