The Wichita daily eagle., 1896-08-30

Aggregate OF Imports Since the Opening
of the Present Movement is Now Nearly
Fourteen MiiIions-Bank Statement Is
Very Much Better Than Expected
Sugar Bounty Money From New Orleans
More Favorable Foreign Trade State
msnt-Atlantic Freight Room Engaged
Outward Far Ahead.
New York. Aug, 29.---The principal
motive power in the stock speculation
today was the covering of short con-
tracts by the professional dealers, in
1uenced by the Improvement in the Il
nancia1 situation, based upon the gold
IMPORTS. News Of further enga agements
today brought the aggregate, including
actual arrivals. to SIS, $780, .0oo The bank
statement, as on the week previous, was
much less unfavorable than had been
anticipated, the reserve showing a de-
crease of less than 100000. The exhibit
caused something of a conflict of opinion
among experts. A slight gain occurred
from the increase in the circulation from
the gold imports and a fairly large sum
was recovered by the banks direct from
New Orleans in payment OF advances
on sugar bounties. Then again the ship
ments Of currency to the interior. which
had been very heavy in the first half,
fell off very considerably in the last
three days OF the week. The exhibit
shows that the banks are continuing TO
exercise great vigilance in strengthen
ing their position The foreign trade
statement for July shows very favor
ably the exports Of merchandise an
creasing l1,173, ,146. and imports de-
creasing s2l,09S.0s0, as compared with
the same month last year. The publ
cation Of the statement referred TO en-
couraged the bulls TO bid up prices in
various parts OF the hst, with the spe-
cialties the chief favorites. A strength
ening influence was impaired also by
support, believed to be from Insiders
in the Gould and Vanderbilt shares, and
Offset, partially, the effect of the some
less satisfactory traffic returns Present
ed. The closing was at the top level
with fractaional gains. The total sales
OF stocks today were $3.50 shares. in
Guiding the foIiolwfng: American SUI
gar 81 900; Burlington and Quincy $500;
Louisville and Nashville ZOO: Manhat-
tan consols 5000; St. Paul IA. 400; West
eru Union $780,
The dominating factor Of the weeks
stock market was a demoralized oondi-
ton Of the foreign exchange, operating
TO causei IMPORT orders for gold on a
large scale, the aggregate engagements
up TO the close ofbusin-ss footing nearly
$4,000. 900. Doubts nave been enter
tained as TO the legitimacy Of the break,
but the low prices for grain and the Sc
we're cuts IN transpor tauon rates un-
doubtedly favored the xecution OF very
large sales to Europe and facilitated
this decline IN exchange The points
has also been cogenly made that, as
the balance Of trade is now largely in
favor OF the United Statesd. and as El-
rope Is not selling our securities except
IN small way for snort account, I'm
ports Of gold 10 this country are the in
evitabie result. II is reliably reported
that international freight room has. In
consequence Of the sales Of commoil-
ties noted. been taken up for several
months TO come An additional de-
pressing influence upon exchange has
been exerted by stiff rates for money.
The successive announcement OF the
amounts of gold IN transit stimulated
bullish sentiment toward the close OF
the week and material gains over the
early low level resulted The drop In
exchange was TO the lowest points reach
ed since 1893. Posted quotations also
underwent sharp changes.
The call money market jumped to an
extreme Is Der cent, but later receied
10 per cent on heavy offerings OF local
and foreign funds and closed at the legal
rate. as compared with per cent 2ast
week. The market ingeneraI displayed
irregularity. Sharp gains.
IN contrast with the early depression on
account OF the unfavorabIe merchandise
discouragfng trafic returns
and st1ngency n money. were manifest
in stocks Advance In anthracite prices
ordered for September had stimula--
Ing effect upon the coaie-s. while the
depression IN Iron and steel was reject
et IN material declines IN the prices os
stocks OF companies affected
The bond market was quite active to-
day. speculative issues being partially
stronger. Il amounted 70 s35s. .0oa Dur
Ing tne week Ihe rnarxt was over weak.
many stoci<s defining. Sales s3.5ls.0ce.
bonds were steady o. mod
erate sases,
SILVER certificates were duh on sales
or $500
FOREIGN STOCKS AND MONEY.
Ne~ York. Aug. "a ep~cisi 20 ere
Evening Post from London Gays: "Of
todzy,s effiux OF Zcs 90 poords in eagles
from -s1e BARK OF England. about go
30 were Withdrawn "a tine FOR snip
r.ent by the Canpzn.a- The reu1asofe-
zss .ajCen to-day b>cause - - fea--5
re bank may ralse szs s=.Eng ps3ce ot
RACES.
I'm re1tzbie quarters - - estimated I
nat next weeks x8<sSrs walls from t71e !
rank .or America vii b z.cs. GO I
pounds TIE moyDe MARKET - s-1a
a.d learn that today Amer I
can bills 20 arrive have ben going as /
aisa a> = per c~nt
The stock rna-kse was bc-,s~ today. (
-o-ahiy Anerscaos On Ne~ York sup 4
>or
Lc1eon- Aug. Site srnoEnt o. bal !
sor1 Withdrawn from rsss Bark of Eng /.
and on bsss-ce today - Ia. GO pounds. /
Berlin. AHx. 9-ExchaneE OF Loncos !
-.g<s days eight. - rne-ks 81 francs
n "a - - I