The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-18
RATES STILL RISE
STERLING EXCHANGE LEADS TO
EXPECTATION OF EXPORTS.


Looked for from the Railroads. and
that Lighters the Pressrre-Stock Mar
ket Less Active, Course Downward
and a Weak Close at Fractional Losses.
New York. Oct 1.-THE market today
was less active than on Wednesday.
and the tendency was uniformly to-
| ward lower level. Professional lead
ers were conspicuous in attacks upon
the list, being inspired by the further
rise in foreign exchange rates 10 point
| encouraging expectations Of renewed
| gold exports. The appearance of gold
cables was not reported, however. On
the other hand it is noted that trans
fers Of currency TO the interior for crop
moving purposes have been resumed.
| Four hundred and eighty-six thousand
| dollars was shipped, chiefly 10 New Or
/ leans, making the aggregate this week
| 81 .260, 900. The movement has dwindl-
ed in the preceding week. and its re-
vival should logically be reflected in
larger supply of cotton bills in the near
future and increased offerings Of COM
mercial exchange. The selling pres
sure was alleged TO have been lighter
| than it would have been but for expec-
| tation of favorable reports of earnings
| by the railroads. The ST. Paul for the
second week in October shows an in
| crease of s19s.11s in gross figures.
The market opened dull and irregular
and soon developed marked weakness.
the chief sufferers being Sugar, Chicago
Gas, the Changers and a few of the
more prominent specialities. Pullman
rose per cent. to l67 per cent. on the
announcement Of the dividend declara-
ton, but subsequently lost the improve
ment on sales, chiefly attributed 10 the
market steadied and in some instances
advances were established over last
nights closing figures. In the late
trading the bears renewed their attacks
causing general fractional receSsions.
Central Trust company's receipts for
Chicago Gas was traded in 10 the eN-
tent Of 100 shares at 69I4 per cent The
time for depositing the stock under the
consolidation plan has been extended
to November without the penalty. The
| most important financial development,
the publication of the reorganization
plan of the Union Pacific, was delayed
until a late hour this evening. The
stock market closed weak at general
fractional.
The market for railway and miscel-
laneous mortgages was moderately &C
tive, and while the trading was some
what cratic, the trend OF prices was IN
the main toward a lower level. The
usually inactive issues came in for mod
crate attention. Many Of the changes
in these securities were material. Keo-
kuk and Des Moines first sold down Il
per cent, to los per cent, but subsequen-
tly rallied to los per cent The first
mortgage bonds of the American Spirits
Manufacturing company. in which deal
ings were inaugurated today. brought
So per cent for $1,000. The aggregate
sales were 81 IA, 900.
The principal net changes are: De-
clines-Michigan Central consols fives,
IL per cent: Oregon Short Line consol
fives trust receipts. IL per cent; Texas
and Pacific seconds and Louisville and
Nashville unified fours, IL per cent and
Burlington convertible fives, Kansas
Pacific consol trust receipts ard Cord
age first trust receipts, per cent. Adj
vances-Duluth and Manitoba first
trust receipts and Norfolk and Western
gold fives, 312 per cent; Erie firsts fund
ed and Fort Wayne seconds. . per cent;
Louisville and Nashville and y. and d.
sevens IL per cent; Virginia Midland
generals, IL per cent. and Illinois Cen
trail tours OF 1S95-1951, and Savannah
and Western first trust receipts. l per
cent.
Governments were easier in tone, with
sales Of S34.0 900.
BANK CLEARINGS.
Philadelphia, Pa, Oct. 17.-Clearings
SIG. s51 ,s54: balances 8, 1855.
St. Louis. Mo-, Oct. 17.-Clearings 81
734.951; balances s55s, 100. Money 597
per cent. New York exchange IS cents
discount bid.
Memphis. Tenn, Oct. 17.-Clearings
s541, 30; balances s143.552. New York ex-
change $50.
New Orleans, La, Oct. 175Clearings
s2,2 .253.
GOLD EXPORT SITUATION.
New York, Oct 1.-THE Evening
Post says: There was slight increase
in the rates for sterling exchange this
morning but the market was dull and
the trading slight. This Is usual. how
ever. on Thursday. which Is always an
of day in the sterling market There
was an active market on rumors about
possible gold shipments and cables Of
fered against them, etc, but none Of
them could be verified. The scarcity OF
cotton bills and demand by importers
rise in rates. While conserva tive banks
this morning said they did not expect
TO see any gold exported this year.
there We're others who said that for
time yesterday IL looked as thought
some might be sent out on Saturday.
1t Is believed now. though, by those
financiers that there viii be enough
commercial and security bills offering
TO prevent gold shipments.
Among the unyerifed rumors today
was one 70 the effect that ". II. Gross
man and Bro. were Offering 70 sell
cables against gold 20 be shipped on
Saturday. There appeared 20 be 10
foundation for the story. II y gener-
ally believed that should any more gold
be shipped II would be By regular and
well known baking house and that no
one else could be IN 81 al a profit At the
prevailing rates Another similarly
shadowy story was that Arbuckle Bros.
would ship ti.55o.oo0 gold % pay CON-
rlercial obligations (coffee bills. etc. n
Europe
II l. understood that IN all p-obabil-
ity an international banking house may
find u necessary TO Withdraw $50. 600
gold from the sub treasury n day OF
two 20 ship 20 Cuba
FOREIGN STOCKS AND MONET.
New York. Oct I7.-Tae Evening
Posts London cabisEram says. TIE
coin and bullion n the Bank q Eng
land ara down this week $50. 90 F-ounds-
% which 40. 90 pounds were let gold
exports for the week: the rest has gone