The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-18
STOCKS AND BONDS
BEARS HAVE THE BEST OF IT IN
THE SHARE MARKET.

Keep an Eye on the Wheat Market
Which is Something Well Worth
Watching-Both Stock aud Bond Tran
sactions Vastly Diminished In Volume
Western Railroads Notable Sufferers.
| New York, Aug. 1.-THE bears must b;
conceded to have won the honors of the
day in today's stock market. Price:
were never more than fraction above
those Of last nights close during the day
| except in a few cases, and most Of the
| days sales We're made az level quite
/ sharply below last nights close. The
! holders Of stocks KEPT one eye on the
wheat market al day and We're keenly
| alive to the heaviness manifested in that
market and TO the notable decrease in
the export demand for wheat on account
Of the nigh range Of prices reached for
that cereal. The first effect Of this was
10 impart dullness to the stock market
owing 70 the determination of holders no;
10 sell at the low range. This dullness
settled upon the market soon after the
nights accumulation of commission
house orders had been worked off. But
the bear traders took possession Of the
market in the absence Of an active buy
ing demand and sold il down 10 catch
sop orders. They We're hampered in
their efforts by the existence Of buying
orders on a scale down which have been
placed in various stocks. But the buying
sd on1 thi:
encouraged the bears 70 persist, with the
result that they finally succeeded in Shak-
ing out a large amount Of weakly-mar-
gined stock and precipitated heavy Of
ferings on stop-losS orders. These were
quite readily absorbed without rallying
the market There was a noticea bic
falling off in commission house buying
and the total sales fell off another 200
900 shares below yesterdays record, and
considerably over 100000 shares below
the record Of any ful. day last week.
The bond transactions were also in
very much diminished volume. The av-
erage net decline in the prominent rail-
road stocks is over a point and in indi-
vidual cases is considerably more. The
fall was assisted by reports of damage
70 the spring wheat crop and prices for
Americans in London were decreased
on these reports and on the belief that the
minimum rate of discount would be
raised above per cent by the Bank Of
England. The grangers, the coalers, the
stocks, and, in fact, all
western railroad stocks, were notable
sufferers, Northern Pacific preferred be-
ing on the market all day. Louisville
and Nashville, AtchisOn preferred, Mis-
souri, Pacific and Union Pacific We're also
active in the late selling movement. No
table declines were also shown in Sugar
and Tobacco. Lake Shore jumped two
points in the arly dealings, 10 rs II per
cent. which is a new figh-price record,
but the gains were mostly .ost in the fin
al transactions. Burlington shows net
decline of 5-s per cent, the heaviest loss
in the grangers., Lake Erie and Western
preferred losing per cent; New Jersey
Central ga per cent: Reading first pre- |
,erred l rs per cent; Erie first preferred |
SIS per cent, and many other stocks a |
point or less.
THE DAYS SALES.
The total sales OF stocks today were
.37, 100 shares including: Atchison 1850. |
preferred 1880: Chesapeake and Ohio |
1875; Burlington 32,3S2; Denver and Rio |
Irande preferred $3.50; Louisville and
Nashville 1880: Missouri Pacific 1870;
Missouri, Kansas and TeXoS preferred.
l. $50; New Albany and Chicago, 1913;
New Jersey Contra. 1920; Northern Pa
life 5000. preferred 25,220; Northwest
!. 200; Reading 2l,1S5; Rock Island 10,505,
&. Paul $3.50; Southern Railway pre-
erred 5000; Union Pacific 1880; AmerI-
an Spirits 5,09S: Chicago Gas $3.50: Gen
raj Electric $50; Pacific Mail $500: Su-
.ar =. 900: United States Rubber BOO;
Western Union $500; Chicago Great
Western $3.50.
BONDS.
The bond market was moderately ac-
i've and displayed considerable firm
less. Some of the usually neglected is
res fiuctuated quite widely but the vari-
tons in the speculative lines were re-
tricted TO narrow limits. The aggre-
ate sales were Sl.425,0 900.
Governments ceased off slightly for the
ew tours. The other issues were fairy
.aady. The transactions We're $4,000.
New York. Aug. 1.-THE stock ex-
lange committee on stock list has noti-
ed the stockholders Of the Atlantic and
acific railroad company will be stricken
ON the list If the company does not
pen a transfer office in this city.
New York, Aug. 1.-THE Oregon I'M
rovement reorganization committee has
gifted depositOrs Of the company's con-
,lidsted mortgage bonds and preferred
nj common stocks, and also holders OF
lose securities, that the time for depos-
ing the securities without penalty has
Zen extended to Angus; 80, and that the
rst installment of the assessment must
he ime' OBSERVATION-DISCLOSURES =
, paid before that date. with interest
, to the time the payment is made.
FOREIGN STOCK MARKETS.
New York, Aug. 1.-THE Evening
os;'s London financial cablegram says: ;
The stock markets were dull today, :
L with an improving tendency a. the ,
ose The prospects o. dearer money de- ,
'essad consols and kindred stocks. Sill ,
n securities were weak with silver. :
affirs were much better. Americans I
ere weak an realiza1ions bu; the close I
as firm. Il is believed here that The
Sc in Americans is not yet over. bus {
az the movements may be less violent I
future, their receipts having apparent
been 50 largely Ncoun;ed. Il is r. I
rted in good quarters that much OF the e
r gold brought here some time back /
hen French exchange was very low has
en- borroewd on at the Bank OF France
IS creating = stock Of gold which can
drawn upon in case Of export require