The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-09-17
SUGAR is LET DOWN
ITS COURSE INFLUENCES LARGELY
THE GENERAL LIST.

Closing IL at General Fractional Declines-
st. Paul, Buriincton and Tobacco Mex,
Ia Prominence to -Cattins
News in Usual SuppIy-CaII Money Al
Eight Per Cent More Gold From
Europs-Curre.cy Shipments to the In.
terior-Foreign Markets Watching the
Bank Rate With Intense Interest.
New oYrk, Sept. 1.-THE feature OF
| the speculation in stocks today was a
change Of front by an important inter
est that is prominently identified with
the manipulation Of Sugar stock and
has recently upheld the long side Of the
market. The change Immediately ac-
centuated the bearish proclivities of the
rank and file of the professional deal
ers. OF actual news bearing upon the
values there was none to speak of, ex-
cepting an easier tendency in the for
eign market and an advance in the af-
ternoon in rates on call money to per
cent. The inevitable rate-cutting news
came early to hand and the dullness of
the early afternoon was enlivened by
the rumor that hostilities had begun in
the Levant. The interest centered in
and about fur stocks: Sugar, st. Paul,
Burlington and Tobacco. The first
named overshadowed any other indi-
vidual stock in point of activity and its
course, as previously noted, to a con-
siderable extent, influenced the trend
Of the general list Incidents not re-
ferred to above include additional en-
gagements Of gold from Europe aggre-
eating s1,750,O00, bringing the grand
total since the beginning of the move
ment to s31, 1885, 10. The shipments of
currency by the banks to the interior
were on as largo a scale as heretofore,
but the transfers through the sub-treas-
ury fell off considerably, only SO 900 be-
ing forwarded in gold, in exchange for
greenbacks. Although the market was
only moderately active, a number Of the
fluctuations recorded were very wide.
The specialties were quite prominent.
Sugar was dealt in on the recently de-
clared dividend of per cent, and broke
3 3-8 per cent, to 10S 3-S per cent, with a
final rally Of 1 per cent. At the low
level, purchases for both accounts ex-
erted steadying influence and caused
partial rallies. The closing was steady
at general frctaonal declines.
The total sales of stocks today were
1s9, 756 shares, including: American To-
bacco, 1890; American Sugar, So, 500;
Burlington and Quincy, 24,60O; Chicago
as, $500; Louisville and Nashville, $500;
Manhattan, 200; Reading 400; Rock
Island, 500; ST. Paul, q, 500; Tennessee
Coal and Iron, $500; Western Union,
$500; Wheeling and Lake Erie. $500.
Railway bonds were quiet and general
ly lower. Kansas and Texas seconds,
exceptionally, gained point, on in
creased transactions. The sales We're
$685., 900.
Governments were active and weak
for the new tours. Other issues We're
barely steady. The dealings were 49,
0O0
Silver certificates were strong and I
per cent higher, on purchases Of s11 900.
FOREIGN STOCKS AND MONEY.
New York. Sept. 15.--Evening Posts
London financial cablegram:
London-''Stocks were more disorga-
nized today, with further severe de-
rreciati ton in prices. Today'S gold
movement was at first incorrectly an
nounced in the stock exchange as an
influx, with the result that uprices
spurted considerably. When the mis-
take was rectified a sharp setback fol-
lowed, consols closing at 109A. Ameri-
cans were dull with the other markets
and closed lifeless.
1.-THE Paris bourse was dull and the
Berlin markets steady.
WATCHING THE BANK RATE.
about f25o.o0O in gold will probably
leave the Bank of England today for
New York. The gold Withdrawals for
America today surprised the market,
because there is no steamer tomorrow.
learn on good authority, however,
that it was taken because big with
drawal for Egypt Is likely tomorrow or
Friday, and 1T was feared the Bank Of
England might raise the price. Fully
100000 will go to New York by this
weeks steamer from France.
There is intense interest here as TO
whether the bank rate will move tomor-
row. The best opinions favor no change,
but It Is impossible to indicate the &C
ton with any certainty. During the
week the bank has lost f362, 900 in gold
on balance"
London, Sept. 1s.-Closing: Consols
for money, no; oonsols for the account,
no; Canadian Pacific, IS 5-S; Erie, 13;
Erie firsts, preferred, %; Illinois Central,
SO L.; Mexican Ordinary. 19 ga; St Paul
common, II 3-4; New York Central, ga
ga: Pennsylvania, 90 Ia; Reading, 3-4;
Mexican Central, new fourS, SIS Ia. Bar
silver, so 1-Sd per ounce; money. 1 per
cent.
The rate Of discount In the open mar
ket for short and three months bills,
l rs per cent.
Berlin, Sept. 16.-Exchange on London
eight days sight, 20 marks 80 1-2 pfennig.
LOANS AND CLEARINGS.
New York, Sept 16.-Money on call
frmer at SOS per cent; last loan per
cent, closed 5G6 per cent Prime mer-
camille paper nominally 7G9 per cent;
sterling exchange heavy, with actual
business in bankers bills at s4SS $40
1 s4 for demand and 81. 81 3-4G4.s2 for six
ty days; posted rates s4.s2G4.s3 1-2 and
a. 81 1-2G4S5 1-2. Commercial bills s4-s0
New York. Sept 1s.-Bank clearings
se5 009, 013; balances S5.S2T, 0S1.
Boston, Mass, Sept 15-Clearings
s13, ST.. lis; balances 1855, 937.
Philadelphia, Pa, Sept. 16.-Cleartngs |
80. 27l .222; balances 81. 6S7, I1S.
Baltimore, Nd, Sept. 16.-Clearings |
s., 500, co.; balances s2s5. So
NEW YORK MARKETS
New York, Sept is.-Flour-Receipts |
S 200 barrels; exports 7,e91. Firm and |
higher for popular brands but general |