The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-07-02

4
| New York, July 1.-The speculative
temper underwent a complete change
today. owing to the resumption OF the
liquidation movement and TO bold and
effective operations. There was no re-
hection OF the support accorded the
market yesterday. neither was there
any noteworthy Indication OF interest
for long account by commission houses
The main discouraging influence was
change in the attitude of London This
was supplemented. incidental TO the
bear raids upon prices. by various ru-
mors OF a disturbing character. some
OF which were unfounGed. including one
] 10 the effect that arrangements were
being made for shipments OF gold 90 Eu-
rope aggregating several millions OF
dollars. The volume of business was
clearly larger than yesterday and bust
ness was fairly well distributed, aFtho'
two etocks, Sugar and Tobacco. figur-
ed for about one-tbird of the aggregate
dealings. At the outset the bulls were
discouraged by lower London prices and
although some moderate buying orders
] for foreign account were noted, the
traders lined up on the short side and
were led by two leading professional
operators. Under their efforts, to-
gether with wholesale realizations, pri-
ces slumped all around. with the lead
erS referred 10 making special drives
at the granger group and a few OF the
specialties. The complete absence OF
support facilitated their work and the
only rallies that occurred were feeble
and were entirely due TO covering oper-
a s,,gx
ensued generally carried prices below
the previous low points. An early an
pouncement of the engagement OF $780,
000 in gold. together with the export ru-
NOR referred 10 above. was followed by
semi-demoralized condition OF affairs
and prices yielded all along the line
The grangsrs bore the brupt OF the de-
preston. Northwest figured for 81
per cent; Rock Island 3h per cent;
Burlington pa per cent and st. Paul
| IL per cent The attacks on the group
were ostensibfy based on unfavorable
traffic reports rendered and expected
Referring to the gold export rumor. ap-
prehension on that score was relieved
| by a sagging tendency In the exchange
| market and by the statement OF leading
drawers that no important outward
movement was indicated. The special
ties were conspicuous in the specula-
ton. Tobacco was affected by I'M
certainty on the part of outsiders on
dividend probabilities on the common
stock and was erratic, with downward
trend. The announcement that the div
idend had been passed was followed
by lively unloading OF stock and an
extreme decline of per cent. to 50 per
cent A recovery OF about a point
Occurred later Sugar displayed some
bVoyancy, but towards the close was
foremost on the down grade and left
off at a net loss of Az per cent The
coalers again made decided downward
progress. Some OF the usually inactive
shares also ruled materially lower. The
market closed active and weak at the
lowest.
Bonds were duh but weak, with the
concessions material in some of the
leading issues. Utah Southern fives
trust receipts broke per cent; Wiscon-
sin Central firsAs trust receipts 21z per
cent and Reading first incomes az per
cent; Oregon Short Line fives trust re-
ceipts ~ per cent and Metropolitan
Traction 1 per cent
Governments were neglected and were
on transactions of $4,000.
Silver certificates were easier, with
sales Of $125.000 at So per cent.
FOREIGN STOCK MARKETS.
New York, July 1.-Evenipg Posts
London financial cablegram:
The stock markets were generally
quiet today. Americans retained
steady appearance and would probably
have sensible improvement were more
business doing. but many OF the jobbers
are away and the duration OF the &C
count restraints those who attend Cop
per tatistics show a farther diminutfon
in stocks, the actual amount being &c.
600 tons. The deliveries during June
were Is, 400 tons. against supplies Of a.
500 tons. The London money market
is extremely easy, money being prscu-
cally unstable.
The market opened with a renewal
OF weakness but gained tone and closed
steady.
The Berlin market was quiet and fea-
tureless.
London, July 1.-Gold Is quoted al
Buenos Ayres today at 1872: Madrid 1926
Lisbon. %; Athens ia; Rome 10s-s2iz
New York, June 1.-The Mercantile
Safe Deposit company holds 1.4@s.471
ounces OF silver bullion. against which
1856 certificates ere outstanding.