The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-06-24
SHORTS TAKE HOLD.
THEN WHEN THEY HAVE had
ENOUGH THEY LET 60 AGAIN.

This is Especially True OF Sugar. which
Early Advances and Afterwards Re
cedes to an Amount Several Times the
Advance General Trading Strong at
the Opening, Aided by Higher London
Prices for Americans and Foreign Buy
ins-siIver Certificates Looking Up
New York. June 23-The CHEZ fea-
ture of the speculation today was Sugar,
which displayed exceptional activity
upon the break noted yesterday. The
stock was conspicuous early for jump
OF q per cent, TO 120 per cent, despite
news of further weakness in the foreign
and domestic grades of the product.
The movement, however, was largely.
II not entirely, due to the covering OF
shorts, and as soon as this demand was
satisfied the stock began to sag and
eventually, on free offerings of the
traders who believed they detected in
side selling, the price receded Az per
cent, to 1l5B per cent. The closing fig
ure was practically at the lowest The
general trading at the outset displayed
strength under the influence Of higher
London prices for Americans and for
eign purchases and also 10 q more
cheerful sentiment regarding our reia-
tons toward Europe. The information
al shares gained smart fractions As in
the case of Sugar, however, the shorts
were chiefly responsible for the i'm
provements, and dizziness and down
ward trend OF prices soon developed
The depression was marked in the final
hour. General Electric came into gen
eral favorable prominence near the
close, breaking 212 per cent Tobacco
made a show of resistance to the de-
Ginning tendency but left of at a slight
net LOGS, despite an early rise OF rs per
cent. A resumption Of strength and
activity tn silver certificates attracted
considerable attention Authorities on
the metal stated that the demand was
legitimate aud was due to an increased
European inquiry. Other considera-
tons bearing upon the advance were
the resolutions in favor of bimetalhsm
adopted at the conference of representa-
tive European interests at Paris yes
terday. Still another explanation was
the probability of active speculation
based ON the continued political agita-
ton. The losses nthe railway shares
from the high point extended to 1@1h
per cent in the grangers, Southern pre-
ferred, and Louisville and Nashville.
The closing was weak, with slight loss
es in the railway shares.
Railroad bonds exhibited strength in
the early dealings, most Of the specula-
tive issues gaining slightly. The trad
ing in the late session was marked by
irregularity, owing 10 the depression IN
the share speculation The extreme
changes were a decline Of per cent in
Orgon improvement firsts and a gain
of IL per cent in Hooking Valley skies.
The sales were $4,000.
Governments were a shade easier for
the new tours, but other issues held
steady. The transa ctionS were s4S, 900.
Silver certificates were strong and
higher, advancing to 6s1s per cent on
purchases of So 600.
FOREIGN STOCK MARKETS.
New York, June 23.-The Evening
Posts London financial cablegram:
The stock markets have been nat today
on the complications in the political
but the closing was distinctly
better, mainly because the outstanding
bull accounts have been liqutdated and
the position ts sound The settlement
tomorrow WIFI probably show a little
increase in the account IN Americans
and II rates are higher the reason will
be dear money at ten end of the half
year. Americans are lifeless and irreg-
ular. Gold bonds were fairly firm.
Gold Is in strong demand here for Aus
tria and Germany. Mines were duh on
heavy contangoeS
The Paris and Berlin markets were
fiat though closing better.