The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-10-09
STOCKS TEND DOWN
INDUsTRIALs AND CHANGERS STILL
TIE LEADERS.

1n6 LID D6hSs
London Lower and Foreigners are Sellers
on this Side-sterlins Exchanges Easier.
Call Money Firmer. Advances In An
thrxcite Prices and Western Railway
Rate Cutting are Ipfiuenees-Chicago
Gas Rises and Fails. Being the Subject
of an Unusual Number of Influences
Sugar In heavy Liquidation.
New York, Oct s.-The trading in
stocks today fell short Of yesterday
total by about 10000 shares. The
course of prices was irregular though
the trend was downward. The in
dustrials and grangers were the lead
ers in activity London prices came
lower and foreign dealers were sellers
in this m arket. The domestic inftu-
ences bearing upon the speculation in
cluded an easier market for sterling ex-
change. a firmer tendency 10 rates Tor
call money and commercial paper, re-
ports of impending further advances IN
anthracite coal prices and advances OF
sharp rate cutting in western railroad
rates. The easies market for exchange
was attributed TO increased offerings
of bills against commodities and 10 The
appearance OF bills against recent pur-
chases of securities for foreign account
The last mentioned transactions nave
been chiefly made over the counter oy
investment houses and have not hSur-
ed in the stock exchange record Learn
er was sharply advanced on the news
OF the declaration CT a special divi-
dend of ? per cent. II is reported IN
the Leather trade that the recent cuts
in sole leather have failed 10 stimulate
activity. The gossip concerning the
anthracite trade failed TO affect the
market prices OF the leading stocks IN
that group. Special weakness in Chi
cage Gas was not attended by any ex-
planatory rumors. No details OF the
alleged impending reorganization plan
are obtainable at present.
The general market opened weak ana
moderatively active. The losses were
confined to fractions, the most note
worthy being in Chicago Gas, Missouri
Pacific and Tennessee Coal. The
downward movement was soon check
ed and recoveries followed extending 20
! per cent in Sugar. The improving
tendency was of short duration, how
ever, as a vigorous raid against Leath-
er preferred sent that stock down rs
per cent and had depressing sympa-
thetic effect upon the general list
Chicago Gas yielded is per cent; Gener-
al Electric, IL per cent; Sugar, IL per
cent, and Manhattan. per cent. About
1880 o'clock support was given 10 the
market and covering of shorts stimuli
ated a general recovery in which Leath-
Nll
cent. from the lowest point. In the
last half hour Chicago Gas was again
subjected TO special bears pressure and
on heavy dealings the stock lost q. per
cent, 10 66Ss per cent, making a net de-
cline of Az per cent. In speculative
circles the impression regarding the
consolidation agreement, so called, is
that il is too vague in its terms TO COM
mand support. The stock closed at the
lowest and was responsible for YIELD
ing tendency in the market. In only
Sugar. however. did the decline reach
full figures. Liquidation was more
conspicuous in today's market than for
some time past. the former tendency OF
money and the reported rate cutting be-
ing responsible for this development.
Speculation left off weak in tone. the
net result of operations showing gener-
al fractional losses.
The total sales OF stocks today were
209.1S3 shares, including: American
Sugar. 1880: American Tobacco. S.T00;
Atchison assessment paid. 1900; Bur-
lington, IL. 400; Chicago Gas. $500; Dis
tilling, 1900; General Electric. 400:
Louisville and Nashville, $500; Ontario
and Western, $500; Reading. 20.600:
Rock Island, $500; st. Paul, p 900: Sill
Yer Certificates. 90, 600; Tennessee Coal
A
preferred. 1880; Wheeling and Lake
Erie. $500.
The bond operations In the morning
were meagre in volume and slightly
lower prices prevailed. In the late ses-
sion, however. support was accorded
the market and on an increased vol
ume Of business. fractional recoveries
were established In the speculative is
sues. In the less animated mortgages
appropriations of pronounced charac-
ter were registered. particularly Erie
first consOls. which sold up ga per cent.
10 l4l14 per cent. Oregon Improvement
firsts ran off per cent TO 90 per cent,
subsequently rallying to 92z per cent.
Other changes Of note are: Declines
Dallas and Waco fives. 2 per cent: Mis-
souri, Pacific firsts collateral fves, IL
per cent, and Louisville and New Al
bany consOls. and Austin and North
western lives, per cent. Advances
Cotton Oil. Toledo. Ann Arbor and
Grand Trunk firsts trust receipts and
International and Great Northern
frsts, / per cent.
Government bonds were quiet the
transactions embracing only So. COO
The currency skies Of -'97 improved 2
per cent on the bid quotations. State
securities were dealt In 10 the extent OF
5000. Virginia centuries. and 81, 900 Ala
bama.4 and 5. class "A
FOREIGN STOCKS AND MONEY.
New York. Oct. s. The Evening
Posts London cabiegram SAYS: Euro
pean politics and the speculation at
Paris further depressed all markets to-
DAY and mines closed fat with heavy
liquidation The full slump in mines x
mainly due TO the forced sales from
Paris. The Discrimination OF bankera
mere 10 discount con tinental accept
ances has taken an active form today.
French drafts being all but boycotted.
The reason Is that this market rec Lies
that the speculative position IN Pa-s
Is enormous and that bankers there
have practically been borrowing IN this
market on bills mainly fC- relendinx
on the Paris bourse. This bcycottfug
By the English banks means that the
bankers have 70 call In money from ths
ccdrse operators. Hence the beginning
of the break TIE --Tra rrgzffFg- -l-rrsa-