The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-05

N'os on The start In the Way of News
and observation-disclosures stand Taken
on Railroad Reports-Then Come Real.
Eng Sales and Bear Pressure, Ne,
Losses, However, Being Generally 40
Wider 1hxu Fractions.
New York, Oct. 4.-There was little
more IN today's market than a running
contest between the bulls and bears in
winch me bulls were successful during
INC early part Of the day, but in which
Inc oears turned the tide later. and mi
thelr opponents - rout. wiping ont ALI
'he gains Of the earlier trading. There
was everything in the bulls favor in the
early market, the lively buying on Sat
turday having apparently treasured for
elgn capital, Sd that prices of Ameri-
can securities on the London exchange
We're advanced before the opening here.
Prices OF the international stocks opane1
aoout on a parity with the London
nlshcr level. The masses OF orders in
me hands OF commission houses. and
Wnlcn were put into execution inuedi
aieiy. showed that the public as we'll a.
the foreigners believed that the narke.
hid turned again and that the reaction
Add come 70 an end. The sensational
jump IN Manhattan at the opening. OF
over points, also stimulated the rise
though the small volume Of purchases on
whlcn the stock was carried up and the
neaVy offerings Immediately invited by
mi IL 81
jump was purely manipulative. The
plhched snorts having covered, the price
quickly receded and transaction in the
stocks proceeded on a normal basis and
sun al substantial advance. on ne
prevalent belief that a movement was
developing FOR the absorption Of the
property by surface railroad interests
Consolidated Gas was also on hand with
Its regular sensation and rose So points
On me opening sales. The railroad siate-
mantS Cor the day, all Of which showed
continuance OF the heavy increase Of
earnings. famed the flame OF the buH
enthusiasm. Of these the most notable
were the fourth week OF increase for
the month of $500. III, and the latter of
Sj44.ez3. Southern Pac;fcs August
! Of gain in the net earnings OF s455.441.
ffe advance Of the market under these
influences and under aggressive leader
snip extended from 1 to 2 points. The
prices invited heavy realizing sales and
the bears added the pressure in most
cases, The ne, losses. however, being con-
fned for the most part to fractions. I'm
ION Pacific was notable exception, its
loss extending TO rs per cent Quite
number Of the less active stocks escaped
the later liquidation and retained net
gains 10 point or over, but the level of
me market as whole closed decidedly
lover Sugar was an active feature all
day and lis later weakness was a mate
rial factor in breaking the market.
The total sales of stocks today were
100000 shares.
BONDS.
The bond market sowed decided ac-
cess Of activity and prices held steady
for the most part against the late weak
ness in the stock market. Total sales
were s2.15O,O0O.
Government bonds We're strong and
were bid up kG1A per cent for all IS
sues. There were sales of registered
fours Of 1907 a, 1121s 6112I per cent, and
Of the fives coupons at rs per cent.
New tours registered 1853 coupon l25;
fours registered 111N; coupon 113: twos
registered 9S: fves registered and cou-
pom l14&; Pacific skies OF '9S 1921.
FOREIGN STOCK MARKET.
New York. Oct. 4.-Tne Evening Posts
London financial carblegram says:
wi Iar
lar today. and the close was under the
best. Activity centered in Americans
and West Australian mines. The former
opened strong and soon wen: over the
parity. The support here is chiefly con-
tinental, but the public interest," is also
increasing and is chiefly buying pre-
ferred stocks OF reorganizad lines. The
close was rather dull.
Cana dian Pacifics were exceptionally
strong. The boom IN West Australian
mines Is quite professional az present.
but there is a good deal OF money be-
hind il.
The gold demand has increased. Rus
sia is buying again. The tendency Of
the money market here Is slightly firmer
because OF apprehansions that New
York will take more gold.
The Paris bouTse was steady on the
buying Of copper shares, which were
strong. The Berlin msrke: was steady"
LOANS AND EXCHANGE.
New York. Oct. 4.-Noney on cal firm.
2i2G3i5 per cent; last loan 3 per cent:
closed 31a per cent prime mercantile pa-
per 4i5G5 per cent. Sterling exchange
weak with actual business in bankers
bills at s4s4la for demand. and siS2l2
Tor 81 DAYS; posted rates s4.s3G4s4 and
S4S5iz64S6. Commercial bile s451Ti4.
Silver certificates 55Qj6I5c: bar silver
55&c; Mexican dollars ~ cents
DEARER MONEY PREDICTED.
London. Oc. i-The Westminster Ga
ze-,e says IN is financial article this az
ter130n that he weekly statement -
ne New York Associated banks fsvors
ne ii=a that money viii soon De dearer
AMI adds;
The return indicates that We are ap-
preaching a time Then ;1e shipments
OF gold from Europe wi: commence. e.
pecially as ia.ely a. there aas been =
check in buying American securities fo-
New York account. Any such outflow
viii. we believe. affect frs: by arrange
men;. ne Bank Of France"
TREASURY STATEMENT
Washington. Oct. 4-T0dsy's state
ment % he condition q the treasury
shows: AvaiubIe cash balance s2i3. 49,
- q go