The Wichita daily eagle., 1896-09-02
1T GOES BACKWARD
STOCK EXCHANGE BUSINESS SHOWS
A FAILING AWAY.


Manipulation of IndustrI.is and Other
shares Causes sAdvances-Tendency of
Sterling Exchange Encourages the
Bears Gold Movement Expected TO
Continue, aud Even Increase.
was less decided IN character today and
the dealings were entirely professional.
The volume OF business also fell sharp
ly below yesterdays record A feature
OF the speculation was continued selling
by London Prices for Americans at
that center failed TO respond TO the i'm
provemeu; in this market that had been
IN progress at the close OF business yes
terday and the opening was fractional
iy lower, being also partly affected by
renewed realizing. An improving tenl
Gency was noted. however, after the IN
itial dealings, which lasted until after
the frs thour. In the meantime. SUB
stantial advances had occurred in many
shares. particularly the industriais,
manipulation being clearly evident. SUI
gar advanced per cent. 10 1os per cent.
despite continued depression in the prlce
OF the foreign products being parly in
fuenoed by reports OF the acquisition BY
the company OF 8 rival concern. Nig-
oroIs dsnials OF the rlmors by officials
OF both companies induced a subseQuet
reaction 10 l07& per cent Tobacco and
Chicago Gas rose !. per cent and Man
haitian and other prominent shares a
point or thersa bouts. A number OF in
fiuences later favored the bears I'm de-
pressing prices. including "A railying ten
dency IN foreign exchange. watch was
reflected in higher actual rates and IN
a rise OF half a cent in posted figures
TO S&.S3G4.s5. The movement started re-
ports Of the probable cancellation OF
some OF the recent gold import orders.
The general impression is, however.
that weakness will shortly develop in
exchange. owing 10 the prospective
/ heavy shipments OF our products TO
Europe. and the strong international
trade balance in favor CT this country.
Additional engagements of gold brought
the grand total since the import move
ment was inaGgurated 10 $50. eoo. 600. IL
/ is understood that a considerable
amount Of metal that 10 afiOat has not
/ been reported. Renewed firmness in
call money rates were also partly re-
eponsible for contraction OF operations
and a lower range OF prices. The ex-
treme figure reached was S per cenT.
Some unfavorable traffic returns were
also reported, including that OF the
Louisville and Nashville for July. show
| ing a decrease IN net OF $40. 600. The
stock fell 10 3s7s per cent and there was
an appreciable increase Of foreign Of
feT'ings. The grangers. specialties aud
/ industrials, also made material conces-
siOns. Baltimore and Ohio doomed into
unfayorable prominence late in the day
and made an unexplained slump OF %.
per cent. to lo24 per cent. on fairly lib
eral sales. Illinois Steel and Minnesota
Iron We're again conspicuous. The first
| dropped per cent, TO 30 per ceelt, while
/ the last mentioned exhibited bouysncy
toward the close and jumped per cent.
to 10 per cent, reacting 10 IS per cent.
In the last hour. a drop in call money
rates 10 4per cent, for actual transac-
tons. induced purchases for both ac-
counts. Sugar recovering To 1885 per
cent. The closing was firm at unimport-
ant changes either way.
The sales of stocks today were 125 s3s
shares, including the following: Ameri-
can Tobacco 500; American Sugar q.
600; Burlington and Quincy 1000; Bal
tiTnore and OHIO $500; Chicago Gas g.
300; Louisville and Nashville i. .200,
Manhattan 3,40o: Reading $500; ST. Paul
q 900; Western Union a., 600: silver GER
tfficates 10000.
Bonds were dull and IN most cases ex-
hibited depression. The losses We're un-
important, however. except in q few in
stances. The sales were SD. 200.
Govrnments were strong and active
on a renewal OF investment purchases
The sales were s1ll 900.
Silver certificates brought g. per cen;
for $4,000.
FOREIGN STOCKS AND MONEY
New York. Sept 1-Evening Posts
financial csblezrsms;
London-Except for mines. the stock
markets today were fat. due to dea-er
money and unsettled politics. Ameri
cans closed az the lowest II is believ.
ed that the rise IN exchange has checked
gold shipments for the moment and tha'
only a small amount has gone from Tho
Bank OF England today TO America
the principal part being tOr the &C
count.
| London, Sept 1---Ciosing stocks: Con
soils for money 1117. consols for the &C
count 112; Canadian Pacific 59is pei
cent; Erie 13 per cent; Erie irsts prefer
Z
Mexican ordinary. 1s: ST Paul common
e75s per cent: New York Central. e4h
per cent; Pennsylvania. 53 per cent
Reading, 81 per cent: Nsxican Cenirz
new fOurs. ca Per cent. The rat> OF dis
count n The open market for short ant
three months bills. l%. Der cent.
London, Sept l-Goid - quoted a.
Buenos Ayres to-day at 1es 30: Madrid
19-25; Lisbon. -. ROM, 1914
Amount OF bullion Withdrawn from tn,
Bank OF England on balance today z7I,
900 pounds
Paris. Sept. 1.-'Three per cent ren;er
l0sf for the account. exchange on Lon
don 25f, 17izo for checks
LOANS AND CLEARINGs.
New York. Sept Money on call
easier a 2ds per cent: last loan D.
cent: closed, offered per cent: prirn.
mercantile paper. norninally 74s pc
cent. Sterling exchange easier viii
actual ba1siness IN bankers bills az - :
! i<44s4iz for demand and s4Szik 1Sszs
for sixty days Posted rates "a S4l :
y and :4s5a4ss
| Commercial buis-ltiiz: bar silver
sssc: silver certificates. sss 9s7 pe
cent
New York. Sept 1.-Cjsarsngs 81, ,sss.
az. balance "a SIS I57
Boston. Mass. sept I-Cisarinrs 81
az. so. balances 3 So .l4
| Philadelphia. Pa. Sept 1-ctear.ar
80. .3ss. .is7: h-S1sncez 9. III .sss
Baltimore. Ia. SSp-- L-Cssz-snxz g
lr4 s5s. balances ~. .Ies.
- Louis. No. Sept L-cIszr.azs 8
GO .+2t: balances as ss4s. money On cal
sGs per cent: rnoa~T On time Tds y
cent; New YORK sx1zzaEs q discount
- cents szke..-
JuE wEsTnFE