The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-26

| VaIues-Few Shares Rice Above Tues.
days Closing and Still Fewer Close
Above determination House Buyine
Reduced-The War Cloud In India
| New York, Aug. 25.-The weekly crop
| report OF the agricultural department al
| Washington was the depressing in
was stimulatig influence upon the
| prices of wheat and corn. The opinion
| expressed in the government report of
! unfavorable conditions Of the corn crop
and Of impaired yield from the spring
wheat crop was Of too serious import 70
the grain-carrying roads no: to have a
| marked effect on the values. There were
| various times during the day when a
| struggle was made against the preva-
| lent depression, and when prices seemed
embarked upon an upward course. But
the fact would recur that large part
| Of the long advance in the price Of the
grain-carrying roads has been predicated
upon the abundant grain crop which 1t
was expected was to be moved, and
prices would turn downward again.
The cases where prices were above
yesterdays closing at any time during
the day are exceptional and those where
| they remained above at the close are still
fewer. The fact that settlement day on
| the London exchange developed no short
! interest or covering demand was TO some
extent disappointing 10 the bulls. The
| heaviness in all departments Of the Lon
| don exchange, growing out Of the evil
dence Of serious disaffection on the
northwest frontier Of the Indian empire,
| exercised some systematic influence in
| the local market. Commission house
| buying was on much reduced scale,
and there was a luil Of the activity on
the part Of the large moneyed interests
] which have been prominent in the mar
| ket recently. The sales fell to a total Of
not more than one-third Of that shown
| by the dealings on some days Of the re-
cent period 0f activity. The extreme
! dullness at the decline indicated a
healthy tone Of the market, the liqui-
dation at no time being heavy and the
resistance al a given point being very
firm. The market enjoyed an occasional
dividual stock which was Influenced by
a development especially affecting II.
Thus, the publication Of the statement Of
earnings Of Missouri Pacific for the third
week in August, showing an increase
over the corresponding week Of last year
Of $4,000, gave an upward impetus to
that stock, and helped the whole mar
ket. The stock rose over a point and
closed with a net gain Of "a per cent. A
simultaneous rise in Sugar, Tobacco.
Starch and Bay State Gas at another
time rallied the market. Late in the af-
ternoon, buying developed in New York
Central on reported increased earnings.
This spread through the Vanderbilt
group, and carried prices generally to
the best of the day. New York Central
led the rise with an advance Of IA per
cent, and the net gain was point
Michigan Central was the exception IN
the group, and fell off IA per cent A
selling movement in the last half hour Of
trading carried prices to the lowest Of
the day, and left the general list frac-
tionall below last nights level, the loss
extending to is per cent in Burlington.
Lake hore gained a point. Northern
Pacific preferred was a weight on the
market. owing to its poor showing Of
earnings.
THE DAYS SALES.
The total sales of stocks today were
272.250 shares. including: Atchison pre-
ferred 1880: Chesapeake and Ohio 5,175;
Chicago, Burlington and Quincy, 24,5O0;
Louisville and Nashville $3.50; Missouri
Pacific 1890: New Jersey Central 800;
New York Central l4,715; Northwestern
4,275; Reading $40: Rock Island 14,1S5;
St Paul $4,000: Union Pacific $3.50;
American Tobacco 1878; Chicago Gas
SOS; Lead 1855; United States Leather
preferred 5,120; Western Union $3.50;
Chicago Great Western $3.50.
BONDS.
The bond market showed less weak
ness than stocks. prices being generally
higher. Chesapeake and Ohio, Atchson
and Northern Pacific issues led in the
activity.
Government bonds were dull and
slightly firmer. The total sales were
s., Us, 900.
FOREIGN STOCK MARKET.
New York, Aug. 25.-The Evening
Posts London financial caolegram says:
The stock settlement today revealed
small account except in Americans.
where the amount carried on behalf Of
New York operators is considerable. Con-
tangoes and Americans were TO s 1-2 |
per cent except for Milwaukee, which |
were scarce and were carried over at |
! 1-2 per cent. The tone OF the market |
was generally dull on Indian news, but |
there was nothing doing, and the fluct- /
uations were small. Kaffirs were weak. |
Gillian and Brazilian securities were ex-
ceptionaliy strong. but Uruguays were |
flat on reports that negotiations between |
the insurgents and the government have |
been broken off. Americans were heavy.
in sympathy with the other markets, and 4
the close was dull.
Gold was in better demand at II.
IL I'D Tomorrow 100000 pounds in
gold will be turned over 10 Japan, and |
that country has begun TO buy gold in
the open market.
The silver market was disorganized
Indian merchants show a hesitation 10
buy on reports that the Indian minis
are to be re-opened, this 70 be accom-
plished by heavy import duty on sill
yer, thus increasing International cur
rency without depressing exchange An
other rumor is simply that the import
duty on silver is TO be increased. / can
not vouch for the probability OF either
report, but the latter is the more credi-
bic. India council drafts 10 be Offered
next week have been reduced 10 10 lakhs,
/
days decline in French exchange on