The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-10-03
PRICES GO LOWER
RBALIzATI0Ns AND BEAR OPERA
TIOHS ARE EFFECTIVE.


the Market are the Arguments of the
State of Foreign Exchange and an Ex-
pected Unfavorable Bank statene.t-
Eject of the Weeks Wheat Exports-
Call Money nisher-"Rigging" the
London Market.
New York, Oct. 2-The stock market
today was subject to further heavy
reazzations and bear aggressons. and
the course Of prices. at first irregular.
eventually worked toward a lower lev
ell. The specalties were conspicuous
on manipulation. The market AT times.
especially in the forenoon dealings. be-
came practically stasnant, but la-er de-
veloped comparative activity, chiefly at
the expense of values. The distribution
OF the dealings was only moderately
good and the specula ton had a strong
favor Of professionalism throughout.
THE bears. and one operator in particu-
lar. put out lines OF shorts with free
dom, hoping to cause a material decline.
The only arguments brought against
the market as a whole, were in the in
creaSing strength of the foreign ex-
change market and speculations of
comparatively unfayorabie bank state
ment, owing 10 the heavy shipments of
funds TO the west and south for crop
moving purposes. That this movement
is not without fruit is illustrated by the
fact that the eXpors of wheat during
the past week were the largest since
September, 1898. Shipments of funds
through the sub-treasury were larger
than usual, aggrega ting for the day
81 ,020. 900. Call money rates worked
slightly higher, but this condition was
regarded as only temporary. The
The movement in the general list was
narrow. as a rule, and lacked feature
until the final hour, when, under ag-
gressive selling, the grangers and south
westerns yielded about a point from
the top figures. The receipt of higher
London quotations for American secu-
rites contributed toward a strong end
advancing market, with the more note
worthy gains in the industrials, and in
International shares. 1t was reputed.
however, as upon yesterday, that the
London market has been rugged for
effect upon this side. SO as to permit
reahzadionS. A period OF extreme dull
was in turn succeeded by activity on
selling for both accounts. The closing
was weak at sharp fractional net
losses generally.
Railroad bonds were quiet but gen.
orally firmer. Trading in Reading is
sues con tinues to attract general atten- |
ton. The sales were $l.195,0o0
Governments were weak and lower |
on sales of $4,000.
FOREIGN STOCK MARKETS.
New York. Oct. 2.-Evening Posts |
London financial cablegram:
The stock markets opened good to- |
day. consols touching 1101s, but prices |
eased off later and the close was I'M
der the best, in the absence OF active |
dealings and the resumption of few
tentative bear operators. A small faE-
ure was announced on the stock ex-
change. Americans opened good and
remained so until just at the close, when
prices broke slightly, closing bulhsh.
The demand for gold on Australian IS
increasing. The Paris bourse followed
the London markets, the opening firm
and closing weaker. The Berlin mar
ket was teady."
London, Oct. 2.-Consols for money
u0h; for the account 110A; Canadian
Pacific 59Z; Erie Is; Erie firsts pre-
ferred 33%; Illinois Central "a; Next
can ordinary 81; st. Paul common 74k
New oYrk Central sc; Pennsylvania 53A
Reading 1o5s; Mexican Central new
tours 6912. Bar silver 50 5-16d per ounce
Money ~ per cent. The rate OF dis
count in the open market for short and
three months bills rs per cent.
London, Oct. Gold is quoted at
Buenos Ayres today at so: Madrid |
10. %; Lisbon 81; Rome 1O7.15.
Paris. Oct. 2.-Three per cent rentes |
101f s21zc for the account; exchange OH |
London 25f lie for checks.
Berlin, Oct. 2.-Exchange on London |
8 days sight 20 marks So pfennsgs.
LOANS AND EXCHANGE.
New York, Oct 2.-Money on call |
firm at 5as per cent; last loan per cent; |
Closed 4iza5 per cent; prime mercantile \
paper 61za7l2 per cent Sterling ex- |
change firm with actual business in BAN |
kers bills at s4.s514a4. ssh for demand |
and s4.S3a4 s311 for sixty days; posted |
rates S4.S3a4.s4 and iS51sa4. s6iz; |
certificates 657s a6s4. Bar silver s5A. |
New York, Oct. 2.-Clearings $12e.- /
S14. 343: balances 81. POI. go.
Boston, Oct. 2.-Qearings 81. 1901 |
Gil; balances s., 1os. 761.
Philadelphia, Oct. 2.-Clearings $14.-
402. SIS; balances 81 .902. $50.
ST. Louis, Oct. 2.-Clearings s, $685.
500; balances s41S.is3. Money steady; |
sac per cent for cali oans and 7as per
cent for time noans. New York ex-
change 81 90 discount bid: IS cents Dis
count asked.
GOLD RESERVE.
Washington, Oct. 2.-Today's state
ment OF the condition of the treasury
shows: Available cash balance $24I.-
1ss, 529; gold reserve S124.o24. liz; net sill
yer s15.s7o.530.
COFFEE AND srGAR MARKETS