The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-17

the shorts Covering and . Rally Ensues
to Near the Opening ysiuss-Largs To-
tai of Transactiens-Bcnds.
New York, uly 1.-THE unfavorabie
terday's stock market were again cper-
alive today and the speculation was
feverish, on a decided increase in the
volume of business The grangers,
industrials, coalers and yanderbiits
were foremost in the dealings and after
an almost uninterrupted decline in the
general market, leading to breaks Of
a. per cent in the leading active shares.
recoveries were generally made in the
last hour. bringing prices up 10 about
IN opening figures. The depressing
factors included Mr.. Vanderbilt's IL
ness, the increasing government Soic
reserve, further weakness in govern
ment bonds, increas ed strength in the
general market and estimates or agreed
enga gemeats Of gold for Thursdays
steamers, ranging from 100000 10 sf.-
00o. 900. There was no news bearing
upon the general situation aside from
the considerations above named, and
the rally in the last hour was on ex-
tensive covering of shorts. based on I'M
verified rumors Of the completion OF
syndicate for the purpose of purchas-
ing a 800, 0O1, 000 block OF government
bonds There was also evidence or sup
port at the extreme low points by power
full financial interests. Moderate buy
ing of the leading international shares
for foreign account was also noted.
The market opened unsettled and fair
ly active. and after a brief interval.
prices began to sag under liquidafing
orders and heavy bear selling. The
Vanderbilts and coalers were attacked
for obvious reasons and the downward
movements in tine induStrials was ac-
CELEBRATED by runrors of disturbances In
loans. due TO the recent severe declines
Continued weakness in II governmnt
bond markt, particularly in the new
fours, coupon Of 1926, was partly at
tributed TO the same cause. The ag-
gregate of dealings made larger total
than has been reached for a long time,
exceeding 40 600 shares, and the bust
ness was unusually well distributed
with Sugar and st. Paul long way in
advance of the other shares in point OF
activity. The first named was promi-
was eventually shared by the general
market. After an advance at the outset
10 1861 per cent, IL broke to 1929 per
cent and left off with a slight fractional
net loss. Lake Shore made an extreme
decline of AZ per cent from the opening
TO 1871 per cent but rallied TO 141 per
cent at the close. Burlington and Rock
Island sold off "a per cent each. and
material losses were also scored in all
OF the active shares. In the inactive
stocks, Pacific Mail, Consolidated Gas.
Pullman and Delaware and Hudson
were the chief sufferers, but also shared
in the rally. The closing was strong
in tone.
The total sales Of stocks today We're
1862 shares, including: American To-
bacco, 5S, 100; American Sugar, 50. 900;
Burlington and Quincy, II 100; Chicago
Gas, 12,400: DiStilling. 10,70o; General
Electric, 500; Louisville and Nashville.
10000: Manhattan, 10. 200; Missouri Pa
oific, $500; Northwest, 6100; Reading
5000; Rock Island, IL 500: St Paul. "a. 800
Tennessee Coal and Iron, 5000: Western
Union, $500: Southern. 5000; Southern
preferred. 1000; New eJrsey Central. a.
500; silver certificates, 10000.
Railroad bonds were active and weak
on sales OF 81 ,5sS, 900. The more i'm
portant losses at the low point includ-
ed Atchison As, Is per cent; Atchison
adjustment As. 2 per cent: Kansas and
Texas 1st. IL per cent; Atchison ends.
IL per cent: Northern Pacific 5s. and
Southern IS. 2H per cent. The last
mentioned failed to respond to the rally
Silver certificates were slightly higher,
on sales of $4,000 ait 6s7s per cent
FOREIGN STOCK MARKETS.
New York, July 1.-THE Evening Post
London cablegram says: The stock
markets were dull throughout, the
American shares being especially So
A discourasing feature, however, II
may be noted, is that there Is little
inclination to sell among the bankers,
unless of the rhiri-rsfe variety. Cooper
statistics are again favorable, the stock
having fallen about thousand tons in
the past fortnight. while the deliveries
were that much more than the supplits.
The continental markets were dull
Paris exchange has fallen TO within
shout point OF the gold point.
London, Eng, July ls.-Gold is quoted
TO Buenos Ayres today at 1856; Madri,
1875: Lisbon, 2siz; Athens, ia: Rome.
107.07
London. Eng, July 1.-THE Bank OF
Englands rate Of discount remains IN
changed, at Per cent
Paris, France, July 1s.-Three per
cent rentes. 101 franc for the account
LOANS AND CLEARINGS.
New York. July 16.-Money on cal
steady at per cent; last loan az per
cent, closed pa per cent Prime mercan
tile paper 1861 per cent Sterling ex-
change steady with actual business in
bankers bills at S4ssz4 ass for dena nd
end S4s7%G4 for so days Posted
rates S4ssiz 9As915. Commercial bills
"a. ssiz94s7; silver certificates es7s per
cent.
New York. July is.-CIearings
500. os5. 1s7; balances ss,74s.55
Boston, Mass, July 1s-Clearing,.
81 SIS. ss1; balances t2.5T4.s3s.
Philadelphia Pa, uJly 1s.-C1earngs
81. as3 .345; balances 81 IA. 81.
Baltimore. Nd, July 1s.-Clearings
8. use. I5o; balances 1872. go.
Chicago. III. July Is-Clearings sl4-
exchange 20 Der cen. discount: money
easy; sterling exchange on Londan. de-
Dsna A-ssA- Call loans 5as Per cent
Commercial bills s per cent.
S. Louis. Mo. July 1s.-ciearinys "a
1T7.51s: balances S7i3. sig. Money S par
cent; New York exchange IS per cent
discount bid; 50 cents discount asked
Memphis. Tenn. July 1s.-CIesrngs
Sc, no: balances s9os. 5e7.