The Wichita daily eagle., 1896-10-07
is NOT MUCH OF IT
TRADING IN SHARES Is OF VERY
SMALL PROPORTIONS.

are Only Fairly Successfui-Enect of
Local PAYMENT of Municipal Taxes
Foreign Exchange Further Weakens
and Interest in Gold Imports is Revived
Market Closes Weak at Fractional Net
DecIines-Loadou Market DemorasIzed
New York, Oct. e.-The speculation
in stocks today was of the scan tiest
proportions and the. movement, from
more than one point of view. appeared
! 70 indicate that the bears were attempt
ing TO force prices downward with con-
siderable care as TO extending the out
standing contrScts. Some OF the bull
leaders express willingness 10 permit
further reaction OF few points. but
say that holders OF securities are dis
playing great teracity. One sample OF
bear strategy was the circulation OF
report that a leading stock conrnis-
sion house had refused 20 carry stocks
on margin over the next thirty days,
but the report was quickly denied by a
member OF the firm. Another adroit
| move was played in the last hour, when
money on call was bid up 10 an extreme
II per cent. Very qarge offerings al
most Immediately forced the rate down
to 3 per cent. and the closing quotation
was offered at per cent. a moderate
influence legftimately causing a slight
firmness in money is the payment of
taxes on continued fairly heavy scale.
! The money is, however. re-deposited
each day by the city. This week the
municipality Will begin paying off its
revenue bonds and the disbursement
/ this month and next viii run up con-
/ Siderably into the millions An i'm
portaut favorable development was a
/ further weakening in foreign exchange
rates. actual demand falling 10 s4si.
Several leading houses are understood
| to be figuring on gold imports, but no
| actual new engagements have yet been
reported. Aside from the factors re-
ferred to, there was no news Of import
ance bearing upon prices, and the
meagre transactions bore a professional
imprint. The failure of London to re-
spond to the improvement that had pre-
vailed at our closing of yesterday ex-
erted a chilling influence at the outset
The bears were encouraged TO test the
market and prices rsceded fractionaliy
all around. Supporting orders appear
cd at The fOW PulilS anu q SlAS SHGy iiSA-
er range resulted. Manhattan and Su-
gar We're in the greatest request, CHIEF
Iy by the bears, and gained rs and !
per cent respectively. Covering sue
ceeded fractional improvements in 9th
er shares. Renewed depression soon oc-
CURED, however, although the firmness
of some of the figh-priced shares excit-
ed comment. Tobacco, in particular,
advanced per cent, TO 67la per cent.
The list as a whole sagged in the after
nOon but the bosses did not exceed
fractions, except in Manhattan. which
sold off IL per cent, and Tobacco. IA
per cent, from the respective high
points. The closing was weak at gen
eral fractional net declines.
The total sales of stocks today were
Ill, ,527 shares, including: American
Tobacco IL, 200; American Sugar 1900;
Burlington and Quincy 1l,O00; Louis
vile and Nashville 400: Manhattan
Consolidated 1o.SOO; Reading 1000; st.
Paul 16. 900; silver certificates 1900.
Railroad bonds We're fairly active but
We're without especial feature, aside
from Hooking Valley skies. which
jumped per cent to SS per cent. The
sales We're 81 ,25S, 900.
Governments were firm on purchases
Of $4,000.
Silver certificates were shade easier
on sales of $1,000.
FOREIGN STOCK MARKETS.
New York, Oct. 6.-Evening Posts !
London financial cablegram:
''The fall in American exchange and |
the liquidation in mines have demoral- |
iZed the markets, which We're fat today |
throughout. The fall in exchange pro- |
duced a fall in consols TO 1099s on fears |
of a renewal OF gold exports. The fall |
in mines was so rapid and serious as TO /
suggest trouble at the next settlement 4
unless a recovery takes place first. |
There was a heavy selling OF mines in |
London by French brokers. A feature |
Of the market was a sharp fail in India 1
paper. Gold is in strong demand in |
Russia. Americans shared the general |
depression and closed dull. The Paris |
bourse was closed because of the cars
visit. The Berlin market was weak"
London, Oct 6.-COnsols for money /
1895; for the account 1925; Canadian
Pacific 591z: Erie 141z; Erie firsts pre-
ferred 80; Illinois Central 81: Mexican
ordinary 2o1z; St. Paul common %; New
York Central s5l5: Pennsylvania s5x
Reading 10; Mexican Central new fours
S9%4; bar silver 301sd per ounce. Money
1 per cent. The rate OF discount in the
open market for short bills i 1916 per
cent: for three months bills 4 per cent
London, Oct. e-GOad is quoted at
Buenos Ayres today at 1850; Madrid
19 %; Lisbon 81: Rome 1069 92.
Berlin, Dot 6.-Exchange on London !
eight days sight 20 marks 351z pfennlgs.
AUSTRALIAN GOLD.
New York, Oct 6.-J. and w. SeNs-
man viii receive through their san
Francisco correspondent, the Anglo
California bank, about s., 5c0. 900 IN gold
from Australia due % arrive in San
Francisco on October -.
GOLD RESERVE.
Washington, Oct s.-TOday's state
nent OF rhe condirion OF the treasury
shows available cash balances S2i0. So
si3; gold reserve sl25. 500. .0ss.
LOANS AND EXCHANGE.
New York. Oct s.-Money On caH
very firm at 394 per cent: last loan
per cent, clos@d offered at per ont
Prime mercantile paper 7d3 Per cent.
Sterling exchange heavy win actual
business in bankers bEis at s4s49
. s41s for demand and S4s3d4 s2iz for 60
days. Posted rates i4S2iz64s4 and
- -S5d4sslz. Commercial hills sIsI.
Silver certificates s5izQss. Bar silver
s5zs-
BANK CLEARTNGS.
New York. Oct s.-Bauk ciszrnzs
'10s. - -2ss: balances 50. -, ,5ss.
Boston. Oct s.-Cgszr.nEs si7.f7e, 20:
osiancss cf5 sos
Philadelphia. oct s.-Cyezriugz 80
-. .155: balances 3 81 ia
Baltimore. Oct s.-Cssrings ie.5ss.-
as: balances S&9ss-s.
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