The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-31

| Weakness Considered Due to Heavy Profit
Being the Only Member Of the Group to
Close Higher, and That But Little
Whole List Affected end Many Promi-
mont Stocks Close Below saturday-1ron
and Steel Group Show Great Strength
London Prices for Americans Improve.
New York, Aug. 30.-The stock market
moved UP this morning, and down this
afternoon, weakness being due appar-
emily to heavy profit-taking in the gran
gers, which moved up buoyantly in the
morning Chicago Great Western suffer-
| ed most severely from the liquidation,
and shows net loss of l Ia per cent.
Omaha showed continuance Of Satur-
days strength and moved up 1 IA per
cent above Saturdays close, but lost il
all. Rock Island alone OF the group
closed fractionally higher. The selling
movement in the grangers affected the
whole list more or less and many prom
inent stocks closed below Saturday, after
| having been materially above at one
time during the day. Some Of the recent
speculative favorites had achieved so
large an advantage that the decline left
them something to the good. and Mis-
souri, Pacific closed at the best with
gain Of 1-2 per cent. Wabash prefer
red after having gained an advance OF
l "a per cent, closed al a net gain Of
l IL per cent, and Chesapeake and Ohio
closed 3-S per cent below the top, with
net gain Of nearly point. Atchison pre-
ferred, Western Union and Union Pa
cific also showed fractional net gain.
These are the notable exceptions to the
general showing of net losses in the list
of active and prominent stocks. The
group of iron and steel properties was
strong, Illinois Steel, Colorado Fuel,
Minnesota Iron and Tennessee Coal clos
ing higher, the latter to the extent of a
point. There was also some remarka-
bic gain shown in the inactive list, not
ably Lake Erie and Western. The CON-
mon stock of this railroad rose three
points, and the preferred l ga per cent,
Pittsburg, Cincinnati, Chicago and St
Louis preferred also rose points. In
the industrial group, National Starch
shares sold point higher, the first pre-
ferred poins higher, and the second
preferred 10 points higher. Leather pre-
ferred sold UP and then down, and Sugar
fiuctuated in an erratic manner over a
narrow range. The local gas stocks con-
tinued strong on account Of the proposed
consolidation of interests involved. Lack
awanna dropped points on a single
transaction, although the coalers as
group were quite firm. The days market
was almost wholly technical, the news
continuing entirely in favor of increase
of prices. London prices for Americans
came somewhat lower, but improved dur
ing the day, without apparently having
the slightest effect on this market one
way or the other. The buying was on a |
a large scale by prominent opera tors, |
supplemented by execution of commits |
sion house orders, and the selling was to |
take profits. the liquidation being en-
couraged also by some talk of damage |
to the corn crop.
THE DAYS SALES.
473, 26S shares, including: Atchison 1850; |
preferred 24,70O; Chesapeake and Ohio, |
$3.50; Chicago, Burlington and Quincy,
1850; Lake Erie and Western, 1868;
Louisville and Nashville 1920; Missouri |
Pacific, 17.240; Missouri, Kansas and |
Texas preferred 4,Sl0: New York Central |
:. 04O; Northern Pacific preferred, $500;
Northwest, $500; Ontario and Western.
1900; Reading, 14,015; Rock Island. 22.160
st. Paul. $3.50; ST. Paul and Omaha,
II, 995; Southern Railway, 4.710; preferred
7,425; Texas Pacific, 1865; Union Pa
cific, $500; Wabash preferred, 7,425;
American Tobacco, 4,425; Bay State Gas.
:. 100; Laclede Gas. $3.50; Pacific Mail,
Is, $50; Sugar, 10000; Tennessee Coal and
Iron, 1860; Leather preferred $500;
Union, 1902; Chicago Great
Western, 1920.
BONDS.
Railway bonds were strong and GEN
orally higher and suffered less from the
reaction than did stocks. Total sales So
500. 900.
United States bonds were bid UP Is to
IA per cent all around.
FOREIGN STOCK MARKETS.
London, Aug. 30.-The market for
American securities advanced some
what. but weakened later. The bulls
tested the market early in buying bu:
iesisted on finding ready sellers. The
tone was barely steady and the demand
moderate.
New York. Aug. 30.-The Evening
Posts London financial cablegram says:
The stock markets were irregular to-
lay and many stocks We're rather dull,
because OF dear money. Kaffirs were al
80 dull. Americans We're booming. the
chares leading and the close
being at the top. The same features
still characterize the market here. the
I'D generation selling and the young gen.
Grafton buying. AL depends now prob
Ably On whether New York will be able
10 sustain the markets until the former
,lass stop selling. Speyers issues the
particulars OF the extension OF the Cen
.ral Pacific first mortgage gold bonds |
Luz Spereriens OF Frankfort and the
Deutsche Bank Of Berlin are co-operat-