The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1896-08-15

Bears are .. the Retreat and oaly Kealis-
ing Orders Check the Tendeacy Toward
! m Advance Furry in Money Rates
shades the Market In the Last Hour
Sugar and St Paul Furnish Over a Third
of the Dealisgs-Cisse Heavy ut Net
| Fractional improvements Rally In the
Bond SIarksta
| New York, Aug. 14---Further reaxa-
ton OF the recent tension regarding the
general financial and business outlook
was again evident today. There was
! significant abatement OF the late bear
/ predictions and about the oaly check
TO the advancing tendency OF prices was
the execution OF realizing orders for both
domestic and foreign account The
/ bears claimed az the close that the
greater part Of the short interest had
| been eliminated and that RE market
was full OF stocks. II Is not reasona-
he 10 expect the rank and file CT the
recently converted bulls 10 hold out for
mere than a few points at a time. II
I addition TO TIE realizing which chsrac-
/ terized the final hour. furry in money
/ rates caused a shading of from the
best figures. The average rates had
been on a parity with the figures re-
corded during the last few days. SAL
per cent, but shortly before 3 o'clock.
bids for small sums, chiefly by bear
traders caused rates to advance TO I per
cent Small loans were made AZ that
figure but large offerings OF funds rap
idly broke Tire rate 10 per cent The
volume Of business WAS below the re-
cent acreage but the dealings were rel
atively well distributed. aside from
Sugar and ST. Paul, which jointly count
ed for considerably over one-third OF
the aggregate sales The tone Of the
speculation was confident throughout
and many stocks touched the highest
figures Of the advance, some OF the
gains in the industrials and special
ties being quite material The opening
was generally higher. despite lie lower
London quotations. and the outset COW
ering Of shorts was the main feature A
reaction shortly ensued. folio wed by a
resumption OF the advance and the best
( figures 81 the day were reached Sugar
opened 5. per cent lower and afterwards
made an extreme advance OF 3H Per
cent, TO 1915 per cent. Manhattan
but reacted 10 7siz per cent; Consoli-
dated Gas rose AS per cent, 20 l45 per
cent, and other high-prfced shares re-
corded substantial gains. which were
most marked IN the grangers, Western
Union and the industrials. ranging from
] TO per cent. Minnesota iron broke
5 per cent to - per cent. and jumped S
per cent To 81 per cent, on a single trans
action. In the last hour. prices yielded
to renewed realizing and the closing
was heavy at net fractional improve
ments generally.
Total sales OF stock today were 2os-
924 shares. including: American To-
bacco 5000; Atchison $500; American
Sugar So. 800; Burlington and Quincy 49,.
400; Chicago Gas $500; General Ei-c-
trio 800; Louisville and Nashville $500;
Manhattan Consolidated 1o. 800: North
western $500; Rock Island 1900; St.
Paul 34.7oo: Western Union 500: Wheel
ing and Lake Erie $500; Southern rail-
way preferred 1900.
Railway bonds were lower IN the ear
" dealings, but rallied later on the
advance in tsocks. The sales were
| $s16,e0O.
Governments were strong and moved
up sharply for the new fours on pur
chases of $4,000.
FOREIGN STOCK MARKETS.
New York. Aug. 14-Evening Posts
London financial cablesram:
There was a general improvement IN
all the markets here today. notably
in Kaffirs on the better news from Rho
desia- Americans are favoraby az
fected by the support of the market in
/ New York and the statement IN par
lament today relative TO the VeneZuc-
Ian settlement Prices closed about the
best The rise, however. represents
little business here. One small failure
was announced today OF bull operator
in Americans. II was due TO the drop
in ST. Paul and was OF no consequence
20 the market. The nature OF todsy's
dealings IN Kaffirs Is a rou<ing conjec-
ture as TO whether that market is about
to break into activity. There are ex-
ceptionally large arrivals just row ot
American bills. most OF which are ap-
parently directly connected with the
syndicate operations IN New York,
These bills are quoted here at about
lie higher than other first class Lon
don paper By th.s, however. Il mus
not be supposed that the quality OF the
bill IS called In question. II simply
means that they are drawn upon by
very Few houses and hscount houses
here. fairly full OF such bills. are occa-
sionally declining TO indorse freely. the
result being that the bills are what IS
known as without recourse" and con
seQuentiy command q slightly higher
rate.
The Paris and Berlin markets were
firm IN sympathy with London.
REVIEW OF THE WEEK.
New Yofk. Aug. 14.-Bradstreet's re-
view OF the New York stock market to
morrow will say: Speculation during
the past week has been marked by
rapid and. IN soIse cases. a very con-
siderable reaction from TIE bearish ten
dencies OF the preceding fortnight Ths
large falling eff in deposits and cash
holdings. caused by the local troubles
at Chicago. and the spr1nging up OF
demand fo- money IN connection with
tire crop movement at the vest and
south, justified higher demands for he
beginning Of this week The banks al
most without exception marked up the
call loan rate 20 s Per cent. While CON-
usTcial paper has been unstable and
T. has been impossible % obtain tine
loans even al per cent On the b-st
class of coiiate-isL Al me same tire.
money has been in fairly abundant sup
Ply and borrowers have had 10 eidlcEi-
~ n making arrangements from day
70 day At s Per cent. a further graft
fyipy Indication was the decline "a for-
eign exchange. tire rate FOR demand
sterling falling 70 zSL. Cod imports
are even talked OF. although the u1arke.
FOR exchange Is about 1915 ce7ts above
the paint at which gold could be brought