The Wichita daily eagle., 1896-07-14

Ermor-Goi0 EnShSeo luz EAPoft-
Runors of Gold Hoardin<-Susar Leads
In the Industrizls and ST. Paul In the
Railroads-MArket Closes Weak at Gen.
eral Losses.
New York, July 13,The speculative
temper underwent change today, and
the movement was in sharp contrast
10 the strength that had characterized
the close Of the preceding week This
was due to the execution of realizing
orders and hammering by the bears,
induced by the absence of London buy
ing orders in this market, a firnlsr con-
dition OF the foreign exchanges, OF the
engagements Of gold for export and
disturbing rumors Of the beginning Of
gold boarding. The volume OF busl-
ness was not large but the dealings
were fairly well distributed. with Su-
gar leading in the industrtals and 81.
Paul in the railroads, in point Of ectiv-
ity. The course OF prices was almost
uninterruptedly downward and the de-
clines were material in a number OF in
stances. The industrfals were the OBJ
jective points Of attack The initial
prices were slightly higher, under the
influence Of a firm market for Anneri-
cans in london a reactionary move
nrent set in almost at the outset which
was most pronounced tn the industrials
and grangers. the losses extending 10 l
per cent IN Burlington, e per cent in
hicago Gas and 2. per cent in Sugar.
The early selling movement soon a.bat-
ed and steadier tone prevailed but the
market became almost stagnant on a
modrate rally from the extreme low
points. Shortly after II o'clock, how
ever! the bears redoubled their efforts
against the industrials and succeeded
In forcing down Leather preferred 214
per cent; Chicago Gas 21s per cent and
General Electric L. per cent. The gen.
eral list displayed sympathetic weak
ness and declines were scored extend
ing 20 2l4 per cent IN Northwestern On
the down grade an increase in activity
was noted The downward movement
was continued after midday on the un-
favorable runors elsewhere received.
Another interval OF duIlness and COM
paratfve steadiness occurred at the
low level until the last hour. when re-
newed pressure against Sugar and a
few other stocks caused concessions 70
the lowest Of the day. The market
closed weak at general losses extending
to 2i2 per cent IN Sugar and averaging
1G11 per cent n the more prominent
railroad stocks
The total Gales Of stocks today were
153.S0s shares, including the following:
American Tobacco 100: American Su-
gar $1,000; Burlington and Quincy H.
~. - n. a
Nashv,lle $500: Manhattan ConsolI-
dated 5000; Rock Island 6, 300; 81. Paul
q 800: Tennessee Coal and Iron 400;
Western Union $500; Wheeling and
Lake Erie 6,10o; silver certificates 23.-
0O0
Railway bonds displayed an easier
tendency. IN sympathy with the reces-
stons in stocks. but the losses were
mainly fractional. The sales were
$5SS, 900.
In government bonds the new fours
were decidedly weak, reacGng y per-
cent, the 1151s per cent, on sales OF s53.-
600. The other issues, however, held
steady.
Silver certificates were dull and
eased of TO 6Sz per cent on sales OF
s25, 600.
FOREIGN STOCK MARKETS.
New York, July 13-The Evening
Posts financial cablegram says:
a sharp spurt upwards in home rail-
ways formed the only feature on the
stock exchange today. Business in
other markets was very stagnant. Set
Elements show fairly light and the av-
erage on Americans has not exceeded
per cent. Three hundred and eight
thousand sovsreigns were sent into the
Bank OF England from Australia today
The Paris and Berlin markets were
firm but quiet.
LOANS AND CLEARINGS.
New York, July 13.-Money on call,
easy at 112G2 per cent: prime merch an
tile paper 415@5 per cent; sterling ex-
change steady with actual business in
bankers bills TT s4.sSG4. ssh for de-
nnand. and s4.S7G4. SIX for sixty days.
Silver certificates sales s25. 900 as eS7I
Government bonds steady: new four<
registered, 11S; coupons. 116; f1ves, reg
tstered, 111s; coupon, 1115; fours. regis
tered, 10734; coupon, 10Sl5; Pacific skies
OF '97. 1Oel5.
Philadelphia, July 13.-CIeariugs 81
242. 420; balances s1.179. .2s4.
Baltimore, July 13.-Clearings s2,oe5,-
2ls; balances 1924, sSs.
MemphS. 1enn-, July 1S.-Cearlngs
$3.50, III; balances s162. .2O2.
New Orleans. La, July 13.-Clearings
s76o,S5S; New York exchange. bank 81. so
per sl.eo0 premium; commercial 80 cents
premium.
THE GOLD RESERVE.
Washington, July 13.-The traa s1Ty
today lost s5S7.300 in gold coin. OF which
$4,000 wes export. This leaves the
true amount OF the gold reserve at $685.
420.365.