The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-16
MARKET GOES DULL
SHARE VALUES LOWER WITH VERY
FEW EXCEPTIONS.

Bank Statement. Anticipated rs Unfavor-
able. DisappoInts No One and Conssi-
tutes the Most Important Influence OF
the Day-London Profit Taking Causes
Early Declines Bank Exhibit induces
Moderate Selling. Which Is Net By
Shorts Covering Sentiment of the
Week More Cheerful
New York, Aug. 15.--Today's stock
market was duh and professional and
prices, with one or two exceptions. low
er. London p7ofit-taking caused de-
clines at the opening, but full recoveries
occurred later under the leadership OF
Sugar and Manhattan. The only innu-
ence Of a specific character was the
bank statement which. as had been an
ticipated. was unfayorable- II showed
a loss of s4.415.40o in reserve. being the
surplus OF that item above the legal Inn
It down to 4,400. 155. and falling of IN
deposits Of $4,000. 500. The exhibit in
duced moderate selling but at the low
points covered by shorts, stimulated by
lower rates for money, which was Of
fered in large sums at l per cent. start
ed a, new upward movement The ex-
treme fluctuations did not excede frac-
tions with the exception OF Sugar and
Manhattan, which moved within range
OF IL and per cent, respectively Inc
closing was firm at tAe rally. with the
net changes trivial.
Total sayes of stocks today were 6S.-
e24 shares, including: American Sugar
=. 200; Burlington and Quincy 1880;
Louisville and Nashville 400; st. Paul
Il, 500; Wheeling and Lake Erie 3,l0o; Sd
YER certificates 5000.
While the influences bearing upon the
market OF the week were N only one or
two Instances new. and were OF varying
Importance there was decidedly more
cheerful sentiment regarding the imme-
date outlook. London was bullish
factor and support that had long been
lacking was again offered by insiders in
most properties. A temperance OF
commission house buying was hailed
with satisfaction by the owners and
holders of securities and at intervals the
bears, who had bene flushed with their
successes in depressing prices. encount-
cred adroit and aggressive manipulation
by large represents tive banking inter
ests and We're signally defeated A fea-
ture was the execution OF reinves tnent
orders in some of the high priced stocks
and bonds. Trading at the outset was
characterized by decided weakness. the
lowest prices in the recent movement
being recorded in number of stocks.
Developments aectlng the markets in
c1,t IeI eli f1vvn n H.
ey. s per cent being the extreme figure
attained; the failureo minor local
banking institution and a further weak
ness in the foreign exchange market.
both actual and posted rates being low
er materially. The declaration OF the
regular quarterly dividend OF per cent
by the Burlington director gave the d.
rectors gave the bears a decided shak-
ing up, as the ma jority OF the contingent
had banked upC1 a reduction OF the
amount distributed II not the actual pas
sege of tn edividend. A reaction in
money rates from the highest figures al
SO pointed in favor OF better prices and
served to offset decreases in traffic re-
turns published The industriSls wer
the prime features of interest, and es-
pecislly sugar and Chicago gas, which
made the most substantial rallies from
the low points. Manhattan broke bad
on Hquidaion and bear realizing but lat
ter stiffsned sharply IN sympathy with
the improving tendency OF the general
list The recovery from the low level
ranged from 20 10 per cent in the prin-
cipal shares with the final prices gener-
ally at concessions from the top level.
The bond market today was depressed
ON eight offerings Louisville and New
Albany consols and general fives were
conspicuous for concessions OF and 3
per cent on rece!vership gumors.
The weeks market showed decided
stength on a subsistence OF liquidation
and purchases by local and foreign In
vestcrs. The higher priced issues ruled
at improved figures but sales at marked
declines were also recorded In them.
The speculative mortgages were 10 3
points higher. with the AtchisOn and
Kansas Ciens the gains. The sales wed
s6,013,09o.
Governments ruled higher, with the
new tours rising exceptionally 2 per cent
TO 113 per cent. The sales were SlsS.O0o.
Silver certificates wer weak and sag
gei TO s77sc on dealings Of $4,000.
NEW YORK BANK STATEMENT.
New YoT-7y, Aug. 15.-The weekly bank
statement shows the following changes:
Reserve. decrease s4.415, 400; loans, de-
crease s3.119. 400; specie, increase sSl'.-
200; legal tenders, decrease S,175.0c0; de-
posibs, decrease s.. SEQ; circulation IN
GREASE $50. 900. The banks now hold
20. 40n. 175 In excess Of the requirement.
Of the % per cent rule.
New York. Aug. 1.-THE New York
Financier says: The toal cash holdings
lssar = .
according TO the statement for the week
ending August Is, 1896. are sie6.24s. 400.
OF this amount nine banks alone holS
So, os5. 800. or over - per cent. In view
of this condition * is not surprising that
there is a continued tendency to call IN
bozns. a. some OF the institutions are BE-
low the legal reserve and thed en1snd for
funds from the interior Is Tot diminished
The excess reserve Of the clearing house
banks IS lower than Il has ben for over
two years but when IL - recalled that
during the corresponding week cnrec
years ago the banks were 81. o45. 500 IN
der their legal requirements. thelr i'm
rlezsurably superior standing al present
Win be betstr understood In t>ct. the
bank statement FOR TIE current week -
unusually logical and shows the effect
o. changes that have bene gofng On FOX
over two veises past TIE decrease Ia
loans reflects the Liquidation action en-
forced through me necessity Of replen%sh
Ing the reserve and tie loss In cash
represents the heavy demand on the
banks from the interior which has been
a factor IN the situation far several
weeks past
There seems 20 be no proca blity thas
t5e statement mkt week vii show re-
salts much different from those OF Ire
current week and the period % hsgsse-
money rates VIII probably con.inoe "
III automatically adjusted 20 al eaz1er
s. rs.a-Son through dcguf<tfc z, easzfreS OF