The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-01-29

Market to Pound the Whole List--Few
Shares Advance and Many Lose Heavily.
New York Jan. 2S-The heavy en-
gagementS of gold for shipment be
| tween now and Wednesday, the large
| Withdrawals of gold from the sub-treas-
ury and the presidents message to con-
gress Were the factors in today's specu-
lation on the stock exchange. The gold
movement, which was Unexpectedly
large had depressing influence on the
market and caused a decline in the
early dealings which was somewhat ac-
CELEBRATED by the delay in the sending
of the message which il was expected
would have been read at the opening
of the session of both houses OF con-
eress.
The market became irregular and I'M
settled with the tendency downward,
and the pressure was not removed until
the presidents recommendations TO
congress had been announced on the
street and hastily digested. Then
came a sharp rally which as To the ac-
tive list was most pronounced in sugar,
New Jersey Central and the grangers,
Delaware and Lackawanna and Balti-
more and Ohio being also prominent in
the raise. The temper of speculation,
however, quickly underwent change
upon the receipt of advices from Wash
ington that the passage of the bill In
PRODUCED in the house by Mr.. Springer
TO carry out the recommendations of the
message was unlikely to occur at this
session OF congress in view of the certain
opposition of the silver men and POpu-
lists. Opinions of New York specula-
tors whenever expressed were warmly
in favor of the presidents suggestions
but the grave doubts sustained as to
the carrying out of the Recommended
tons caused sharp selling movement
which led to a material decline in prices.
Some long stock was brought out and
the bears took advantage of the uncer-
tainty of the situation to hammer the
entire list. Very little, if any. support
was given to the market and the down
ward movement continued TO the close,
the final trading being decidedly heavy
in tone. With the exception of Read
ing, Manhattan and few of the spec
ialties which recorded advances, and
Sugar, Erie, New York Central and
Tobacco which are unchanged, the clos
ing prices of the shares dealt in show
declines on the day ranging from 4 to
3M per cent, the latter in General Elec-
trio. Chicago Gas opened Is per cent
higher, but quickly fell off ] Il per cent
On western selling. rallying Is per cent
and reacting y per cent. Sugar lost Il
per cent at the opening, advanced III
L
granger shares show losses on the day
of as01A per cent, the latter in North
west preferred. Alton and Terre HauJe
is down 212 per cent; Edison Electric of
New York, 3 per cent; Southern prefer
red, per cent: Great Northern prefer
red, IL per cent; Mobile and Ohio. is
per cent; New Jersey Central and Dele
ware and Lackawanna, IL per cent;
Denver and Rio Grande preferred and
Missouri Pacific, III per cent; Cordage
guaranteed and Norfolk and Western
preferred, rs per cent; Minneapolis and
st. Louis, Lead and Leather prefer
red, / per cen. misunderstanding
AMI New Albany preferred IL per cent:
Pacific Mail, l per cent, and Quicksilver
preferred, 3. per cent.
The bond market was active and de-
pressed throughout the day. Total
sales We're 81 1872 900. and the principal
declines are: Oregon Short Line con-
soils fives, 34 per cent; Mobile and Ohio
tours, 32i per cent; Missouri Pacific con-
soils, skies and st. Paul, Hamilton and
Dayton, fiVes, 2 per cent.