The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-20
GOLD is EXPECTED
CONDITIONS FAVOR GETTING SOME
BACK FROM EUROPE
Leading Banking House Of New York Ar
Netal and Further Heavy Imporfations
are Considered Prebabie-Eariy Trading
on the stock Exchange Depressed on
Large Variety of Uafavsrablc News But
Rally Occurs On the Exchange Situs
ttOn Stirring Up the shorts.


New York, Aug. 1s-The stock mar
ket today was more active but the op-
erations were no less professional than
heretofore. The movement of prices
was downward in the forenoon, but the
afternoon dealings were characterized
by decided strength. owing to a furth-
er slump in exchange rates leading up
10 an announcement Of preparations
actually making for the importation of
gold from Europe. An influential for
eign banking house is arranging for the
importation OF 81, 600, 900 in gold within
the next few days, and in leading finan-
cial circles the expectation of an addi-
tional heavy influx of the precious
metal is general. Several conferences
between prominent banking officials
preparatory TO the imports were also
current and were partly confirmed The
early trading was depressed owing to
the receip of lower London quotations.
the stringency in money and CONNER
cial paper. moderate foreign selling
here, unsatisfactory traffic returns and
reports of further cutting OF railroad
rates. The variations in the prices OF
the leading shares were extensive and
the declines extended TO IL per cent in
Manhattan. About noon. the market
began 10 rally, chiefly on covering, in
duced by the increasing weakness an
exchange and rumors Of gold import
probabilities and the early declines
were soon recovered. An hour later the
news of the proposed S2.oo0.0Oo engage
ment of LaZard Freres came to hand
and caused q stampede OF the shorts
and decided improvements in prices all
along the line occurred on buying for
both accounts. London was also buy
er to a moderate extent. The gains
over the early low points were material
in many instances. Tobacco in the late
dealings scored an exceptional gain OF
Az per cent. to 5s& per cent, but subse-
quertly reacted to IS per cent Other
important extreme advances included:
Sugar 2& per cent; Burlington rs per
cent; Manhattan and Western Union 2
per cent and other stocks 1Qlh per
cent Lead preferred was conspicuous
by a decline OF 3& per cent, TO 761a per
cent. The directors act tomorrow on
the dividend. The stock reacted to and
closed at 7S1e per cent. The closing was
strong but a shade lower than the best
prices, at general fractional net i'm
provements.
The sales Of stocks were 254,S1 shares.
including the following: American To-
bacco 800; Atchison and Santa Fe 5000:
American Sugar S0,9e0; Burlington and
Quincy 1890: Chicago Gas $500;
Louisville and Nashville 1880: Man
haitian 1909; Northwest $500; Reading
e, 400; Rock Island $500; st. Paul A, 200;
Western Union IL. 900; Southern railway
preferred $500; silver certificates 5000.
The railway bond market displayed a
lower tendency early but later stiffened
sharply on increased dealings. Louis
vile and New Albany consols attracted
teention by jump OF 8 per cent, to so
per cent, with a subsequent reaction to
76 per cent. The sales were $S76,00
Governments were steady on deal
ings of s13.500.
Silver certificates were firm at 66A
per cent for 5000.
LOANS, BONDS AND CLEARINGS
New York, Aug. 19.-Noon: Money
on call at 3G4 per cent; prime mercan-
tile paper 6QS per cent; sterling ex-
change slow with actual business in
bankers bills at $4S5A for demand and
s4.s5Z for sixty days. Silver certifi-
Gates 6sA. no sales; bar silver 65&
Mexican dollars, 51k: government
bonds steady; new fours registered 113;
l13; fves registered 1881; cou-
pom 1854 fours registered 1861; cou-
pom los: twos registered 91h; Pacific
skies of 81 100.
Philadelphia. Pa. Aug. 1s.-Clearings
s., $50. ie2; balances ,$1.4s4,s05.
Baltimore. Nd. Aug. I9.3Clearings
&. cS2, 0o2; balances $3ss,e15
St. Louis, Mo-. Aug. 19.-Cqearings
50, s2s,227 balances $555.ses Money Gas
per cent for time and 5ds per cent for
call loans. New York exchange 81. 25
discount bid; 800 asked.
Memphis. Tenn. 1s.-Clearings $751; |
,es
New Orleans. La, Aug. is-Ciearings
3, 12o,770