The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-10

Fears of . Bad Bank Statement Let the
Market Down for Not Losses.
New York, Oct. 9.-The volume Of
business in stocks today was light but
the dealings aside from Sugar, were
fairly we'll distributed. The prices were
irregular. The market was rather spirit
ed in the forenoon and displayed con-
siderable strength on successive reports
of engagements Of gold for import, coin
cident with an easier tendency in the
foreign exchange market and reduc-
ton in posted and sterling figures of Y
cent, to s.Ss and s4s41k, by a leading
drawer. Manipulation by the short in
terests IN various Specialties furnished
the chief motive power. In the late
dealings an advance in money to per
cent and reports of an unfavoreble
bank statement tomorrow resulted in
general material depression. The clos
ing was weak, with most shares record
ing fractional net losses. There was lit
tie or no news bearing upon the general
sftuat aside from the facts noted.
The market opened quiet but firm, with
values showing only slight changes.
Sugar was depressed fractiOnally IN
connection with a further reduction in
the domestic refined grades of the pro-
duct. Manhattan, on the other haHd,
displayed firrnness, in contrast TO sever
al Of the inactive shares. Sugar led
the entire market in extent of the trad
ing, figuring for nearly one-tfird Of the
entire dealings, but aside from that
stock the railway shares were more
prominent than the industrials. London
was a moderate buyer. The upward
movement was chiefly based upon the
covering Of shorts, and when the de-
mand was satisfied the market settled
into dullnesS. In the downward move
ment the extreme declines extended to
~ per cent in Sugar and Manhattan.
The total sales of stocks today were
210,109 shares, including: American To-
bacco $500; Atchison 1900; American
Sugar s., 900 burlington 10000; Chicago
Gas $500; Louisville 400; Manhattan
g1,290; Reading 1900; St. Paul 1890;
Western Union 5000.
The bond market displayed strength
at the outset, but later declined sharply
in sympathy with the depression in the
share market and the development of
selling pressure against the Reading is
sues The sales were 1882 900.
Governments were steady with deal
ings Of SAC 900.
FOREIGN STOCKS AND MONEY.
New York, Oct 9.-Evening Posts
London financial cablegram:
1.-The stock markets were dull today,
but at the same time were rather deSs
unsettled and securities were more mar
ketable. ConsOlS were steady in spite
of gold exports, because the govern
ment is supporting the market with pIr-
chascS. Americans were steady and on
the receipts of New York prices the
market closed very good at the best.
Mines were Steadier on the Information
of a syndicate, said to be headed by
prominent fnanciers, to support the
market. j is believed here that, while
the gold exports to America may be
largely accounted for natural causes,
the movement is being much increased
by the boarding in the United States,
pending the result of the election. In
addition to the gold shipped from here
to America today, a large amount has
gone from the Bank Of England. The
Paris market was better and Berlin
was steady. Bar gold has been advance
ed I'd, to rs nAd."
GOLD ENGAGEMENTS.
New York, Oct. 9-Kidder, Peabody
& Co. of Boston have engaged $3.50, 900
in gold in London for shipment direct
to Boston.
LOANS, EXCHANGE AND BONDS.
New York, Oct. 9.-Noou: Money on
call offered 6 per cent; prime mercantile
paper, nominally, 7@9 per cent; sterling
exchange steady, with actual business
IN bankers bills at s4S3sG44 for de-
mand and s4.a 1kd4s1A for sixty days;
silver certificates 65Q65ia, no sales; bar
silver 64%: Mexican dollars, 1875; gov
eminent bonds, steady; new tours reg
istered and coupon 1l51s; fives register
ed and coupon 1101a, fours registered
and coupon 1861; twos registered 81;
Pacific SKIES Of '97 1904.
Philadelphia, Oct. 9.-Cearings S.
$50. 042; balances S1,615.011.
Baltimore, Oct 9.-Clearings s., 151, SIC;
balances $275, 0ao.
St Louis. Oct. 9.-C1earings 81 ,135, 954;
balances 1886, asa. Money steady, cas-
per cent. New York exchange $3.50 dis
count bid; S1.25 discount asked
REVIEW OF THE WEEK
New York, Oct 9.-Bradstreet's re-
view Of the New York stock market
tomorrow viii say:
and renewed activity by bearish opera
tors gave an unsteady appearance to
speculation and caused pretty general
declines in prices this week. The pro-
fesSional interests which We're response
bic for the advance We're ready to take
profits on the long side and to work for
a reaction IN prices that would not only
facilitate operations for the short &C
count, but would furnish opportunity
for the acquisition of lines OF long stock
on q more advantageous basis. The
bearish manipulation was aided by
number of circumstances. The unex-
pected temperance of the stringency
in money and the development OF the
fact that there IS a demand for gold for
boarding purposes had an unsettling IN
fuence on sentiment On the other
hand, the conditions of the grain and
cotton markets renew assurance that
the favorable condition in our foreign
trade will continue, and the renewed
decline in exchange has been promptly
followed by further engagements IN
London for shipment to this country
The total amount OF specie shipped
from the other side during the week is
81 $50 600 and foreign exchange is at a
level which affords assurance that the
movement viii probably continue
Among other favorable items OF news -
the commendafble disposition OF western
railroads 10 settle their troubles and ad-
vance rates while the rate war at the
south seems 20 be a thing OF the past
The decline OF American Sugar stock.
though a feature OF the market was
the result of circumstances peculiar 10
the company and TO the trade. the prin-