The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-06
FINISH Is STRONG
STOCK MARKET Has SLIGHT NET
GAINS TO SHOW Fer IT.

l Opening 10 Weak Under Bear Pressure
Weakness In Foreign Exchange Hits
| the Beam the Other Way. Inducing
| Heavy Coverings, the Strength of the
Market Running to the Aggressive
| Market Closes at Best Figures-Except
| Sugar, the IndustriaIs Retire In Favor of
the Railways.
| New York, Oct. 5!The stock market
today was fairly active and the course
Of prices irregular, with strong nm
lish- At intervals considerable ANNA
ton was displayed. and in number OF
instances the fluctuations were mater
ial Trading conferred in the railways
and Sugar being the only industrial that
esta blished a good record IN point Of
activity. The market at the outset ex-
hibited considerable weakness under a
renewal OF bear pressure and some on
erings for the long account. The grang-
ers and Sugar were the principal OBJ
jsctive points Of attack. the last men
toned being adversely affected by re-
ports OF dull trade, increasing foreign
competition, and, finally, by the an
| nouncement of sweeping cut IN do
nestle refined grades of the product.
London was a steady purchaser OF the
| internationalS, taking fair lines OF ST.
Paul and Louisville and Nashville The
first named stock led the entire market
in extent of dealings. The leading bears
were conspicuous in the early drives
and during the first hour appeared TO
meet but slight resistance, some long
stock being forced out. Sugar. st.
Paul, New jersey Central and Manhat-
tan yielded IL per cent; Burlington rs
per cent and Rock Island. Chicago Gas
and Leather preferred l pW cent. The
development of decided weakness in the
foreign exchange market turned the
scale and influenced a heavy covering
movement. Rapidly succeeding redlc-
| tons in actual and posted sterling quo
tations eventually impaired aggressive
strength TO the share speculation and
| llfbed prices to point fractionaily
above Saturdays closing. The large
| accumulation OF commercial bills over
Saturday increased offerings against
grain and cotton and decided contrac-
ton in demand for exchange led TO a
sharp concession in actual rates, while
posted figures fen off full lcent This
development encouraged expectations of
an early resumption of gold imports a
slightly firmer market for discounts
was noted. Some OF the specialties dis
] played notable firmness, including Man
haitian, which jumped so per cent, from
the low point on sanguine reports as 10
| the probable large economies to be eff
| fected by a change of motive power to
electricity, If found practicable. The
other leading shares rallied 1@1t2 per
/ cent. The market closed at the best fig
ures, with comparative prices showing
slight net gains.
| The total seles of stocks today were
POPS shares, including: American To
bacco $500; Atchison 1890; American
Sugar 3S,o00; Burlington 1900; Chicago
Gas 1900; Louisville Il, 100; MAMMA utan
| Is, 100; Rock Island $500; st. Paul 1890;
| Southern preferred $500; silver certifi-
| Gates q, 500.
| The band market showed marked
weakness in the early session. with
Reading generals and first incomes re-
ceding a point. Subsequently the mar
kst developed strength in sympathy
with the stock speculation and most of
the early losses were recovered. The
sales were 81 1853, 900.
Governments were slightly irregular
on dealings of sl1 600
Silver certificates held steady on
| transactions of $4,000.
FOREIGN STOCK MARKETS.
| New York. Oct 5.-Evening Posts
London caIblesram:
The stock markets today were dull
| % To-
ing above the lowest. Consols ond 9TH
er investments were firm. Americans
opened steady, but gave way on disap-
pointing prices cabled from New York,
ultimately closing above the lowest.
| The feature today was the heavy fall
| in mines, Paris and Berlin selling. and a
bear raid here. 1t is feared If the fan
goes further real stock viii come on the
market here and cause trouble. Al
ready one firm rs said TO be in difficulty
and receiving assistance. The big
African houses are supporting the mar
let tonight, however, and prices closed
above the worst. The Berlin market
/ was firm. The Paris bourse was nerv-
Gus and unsettled. The position Is rath-
er weak; a good many accounts are still
to be liquidsted. and very little profit
was made recently by operators for the
rise
London, Oct. 5.-Gold is quoted at
Buenos Ayres today at 1880; Madrid
1926: IAscbon 81; Rome 1862. Bar SILL
yer is quoted at 30Ad. Money Ia per
cent. The rate OF discount in the open
market for short bills is q per cent and
for three months bills / 1915 per cent
The amount OF bullion withdrawn from
the Bank of England today was 20. 90
pounds.
LOANS AND CI.EARINGS.
New York, Oct 5.-Noon: Money on
can firm ct 4IzG5 per cent; prime mer-
camille paper 61zG7iz per cent: sterling
exchange weak with ectual business
in bankers bIlls at s4s2z ass for de-
nIard and S4s2s4a4s3 for sixty days:
silver certificates saIes $4,000 at 65i.
bar silver e5zs; Mexican dollars 50sz
government bonds, lower for old fours;
Others, steady. New fours registered,
1lsL: coupon, 11siZ: fives registered, II (;
coupon III; tours registered, l07; cou-
pom. 107L: twos registered, 90: Pacific
SKIES Of 81, 100.
New York, oct 5.-Clear4ngs $50. SIS, :
715: balances 3. 5o5. o3o.
Boston, Oct 5.-Clearings s13.os7. i2s:
balances 8. 2ss,755
PhIAde.pnla. oct 5-Ls@6rIn2s S.5,-
2o4 272: balances & Isl .s7s.
Baltimore. Oct 5.-Clearings ;2.ffe.-
57s: balances s3S1. 514-
Chicago, Oct- 5.-Clea-fngs s1l. TO- $50
Money firm: on call ear per cent; on
time per cent New YORK s. cents Dis
coun. Foreign exchange weak; de-
mani a. s.; sixty days s4s3
St Louis. No, Oct 5.-Clea-iugs 81
1859; balances $3.50. Isl Money steady:
sac per cent FOR call So2ns: 7as pr cent
for tine Icons New York exchange
q = discount. 81 % q s<srcs1rr asked