The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-02
HOLDING ITS OWN
STOCK MARKET CLOSES VITA UN-
IMPORTANT CHANGES.

Pzcity and Superiority to Reaiizations
and Bear Atsacks-3Ia nhattan and Read
ing Wanted at Advances - Exchange
Rates Advanced Beyond the Profitable
Shipment Point, But the Treasury ID
Pretty Well Fixed Now, Anyway-Loa-
don Discount Dowa to rs.
New York. Oct. 1.-The dealings in
stocks today were upon a considerably
lighter scale than ON Wednesday, and
the distribution Of business was not
quite as good. The market, however.
displayed an absorbent power that had
not been expected and proved superior
to further heavy realizations and bear
attacks. Commission houses reported
increased business. and especially in
the lOw-priced shares. and declared that
the market displayed greater resistance
than heretofore TO bear attacks, despite
the clamor for reaction. In the last
hour a barge operator sold the active
railway stocks all around. presumably
TO deDresS prices for effect upon the
London market for tomorrow. The
course OF prices was irregular. but the
variations, aside from a few of the
specialties, lacked Importance. Trad
ing at the outset was marked by weak
ness on realiza tons and bear offerings
The declines were insignificant and the
bears, discovering the stubborn attitude
OF the holders of securities, covered
their lines. The traders who have not
been fighting the rise, bid the market
UP on the shorts. Manhattan and
Reading were in brisk request at i'm
proved figures. The aggressive strength
displayed by these properties coniribut-
ed to frmness in the general market
despite liberal foreign selling and IN
creased firmneSS in the foreign ex-
change market. Actual and posted
rates were further advanced. the last
mentioned touching s4.S3Ia and "a. SS for
long and short bills. Current QUOTA
tons preclude imports OF gold at a
profit on ordinary exchange conditions.
The strength OF this market is attri-
buted to an increased demand for re-
mittances and to decreased movement
of commercial bills, owing To the sharp
advance in the prices of our breadstuffs
and other food products Even at the
advance, however, an European de-
mand is reported. On the other hand
large an aggregate that a temporary
check TO the movement is regarded with
equanimtty, while the treasury gold re-
serve has been swelAad to a sum that
removes all immediate concern. Pa
cific mail was marked up rs per cont.
to % per cent. but the gains in other
shares were less noteworthy. In the
last hour a general reaction occurred,
Illinois Steel, however, rose 2s per cent
and Minnesota Iron l per cent ON the
improved trade outlook. The market
left off quiet but firm at unimportant
changes.
Bonds continued to work higher. al
though the market was somewhat more
contracted than recently. The dealings
conferred in a few of the speculative is
sues, which scored fractional gains IN
most cases. The sales We're 81 Az. oc0-
Dealings in government bonds were
confined to the old fours. but the tone
was generally firm. The sales were
1880.
FOREIGN STOCK MARKETS.
New York. Oct. 1.-The vening Posts
London financial cablegram:
THE stock market was good toGI|,
mainly on easy money and the hasten
ing of the bears to cover. The improve
ment extended to all the markets.
Americans opened steady then weaken
ed, but finally closed good. There was
u special demand for Argentine railways
on excellent tariff reports. London dis
count fen to rs today in the release of
a mass of dividend money. The ease
in the money market was also increased
by the further release OF LOCO, 900 pounds
of japanese money from the Bank of
Of England. The Paris bourse was
firm and the Berlin market STEADY, al
Though dearer money in Berlin is prob
able later in the month, United States
gold going from there to Russia and
Austria.
GOLD IMPORTS.
New York, Oct. 1.-The sum og s.. 900
900 in gold was received here today
from Europe. nearly all Of which, II is
believed. will be deposited In the trea-
sury in exchange for legal tenders. To-
days receipts make the total amount
received at this port to date $50. SIS. 121
on the present movement and. includ-
ing receipts at Boston and San Francis
CO. more than S4o.ooo.09o in all.
LOANS AND EXCHANGE.
New York. Oct. Money on call
steady at 41za5 per cent; last loan AZ
per cent; closed 4ixa5 per cent: prime
mercantile paper e1zaI2 per cent;
sterling exchange firm, with actual bu-
siness in bankers bills at "a s5a4. s5I4
for demand and "a .s2z.a4. So for so days;
posted rates "a. s3s4 1914 and "a s5a4. ss.
Commercial bills s4.H. Silver cart1fi-
Gates e5$ssssA. Bar silver 65s4.
Philadelphia, Oct. Hearings &c.,
66s. 323; balances 81, 437 SCI.
Baltimore, Oct. 1--Clearings s2,142,-
716: balances Si3s, 239.
ST. Louis. Mo-, Oct. 1.-Cearings
"a. ass. SIS: balances s439. 239 Money
steady sac per cent for call; 7aS per
cent for time loans. New York ex-
change 81 90 discount bid; IS cents dis
count asked
COFFEE AND sCGAR MARKETS