The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-25
STOCKS AND BONDS
REACTION IN STOCKS GELS TIE
UPPER HAND AGAIN.
Brief Season Of Higher Prices Early In the
vance on Tariff Construction Rumors-
Fall Is Nearly Continuous After 1t Once
BeEins-Outside PabIie Quits BUYING
ard the Bulls Get Tender. Footed
Proft-Takiug Is the Order of the Day
Bonds Weak-RevIew of the Week

ard the Bulls Get Tender. Footed
Profit-Takius is the Order of the Day
Bonds Weak-Review of the Week
| New York, Sept. 24.-The reactionary
| spirit resumed full sway today in the
stock marke: after brief period OF high
er prices during the morning due 10
! sympathy with Sugar. which advanced
az one time points over last nights
close. Sugars strength was due 10 the
belief that the treasury department
would decide that Holland was, in effect,
paying An export bounty on sugar and
that countervailing duty would there
fore apply 10 Dutch refined sugars. The
rise in Sugar and some strength mani
Tested by Manhattan served to raise the
general level Of prices to fractional ex-
tent, but proved inadequate to sustain
them, and the fall for the remainder of
the day was practically continuous,
though more rapid at some times than
others. There was nothing in the news
of the day 70 account for the decline,
all the reports Of railroad earnings con-
tinuing 10 show large increases and ad-
vices OF the growth Of business activity
being uniformly encouraging from all
points. The outside public, however.
had apparently ceased to buy and the
large bull operators Were no longer
willing 10 accept the heavy offerings OF
stocks made to them. Proft-taking was
the order of the day. The market was
I,,n
the decline was nevertheless unchecked.
The bear interest was We'll defined and
was constant in activity during the day.
The situation of the money market con-
tinuad 20 attract interest. The features
We're the firmness OF call money on the
basis OF 3 per cent and considerable ac-
Iivity in the time money market. The
exchange market also hardened, actual
rates advancing about IA per cent in
response 10 the gold shipments now on
the way to this country. Remit.ancss
70 the interior have continued on large
scale and tomorrow's bank statement is
expected to show a large additional de-
crease in the surplus reserves. The
banks and the sub-treasury have been
abe to meet all demands thus far for
currency. but the demand upon them is
large and promises TO increase. The
treasury at Washington found itself IN
able to accede to the request OF a local
banking firm. which had received con-
signmsnt Of gold at San Francisco to It's
credit 10 be allowed 10 withdraw legal
tenders from the sub-treasury in New
York upon the deposit Of the gold in
san Francisco. Among the returns Of
railroad earnings for the third week in
September, Missouri Pacific showed an
increase of Sill 600; Denver and Rio
Grande s2l 900. and Rio Grande Western
$40, 800. For the second week, Northern
Pacific showed an increase Of s126,755.
New ersaJy Central for August showed
an increase in net Of s99,1ss. The stocks
of soft coal roads, which have failed to
share in the late Improvement owing to
the miners strike, showed some activity
today and were comparatively steady. |
The net losses run all the way from a
fraction TO 7 points tne latter Consoli- |
dated Gas. but in the large majority OF /
active shares it is between l and 2 !
points. Susquehanna and Western pre- !
ferred Lost Ala per cent, and Sugar. !
Cotton Oil. Delaware and Hudson and !
Omaha over points, Illinois Steel rose |
9 ga per cent.
The total sales OF stocks today were
521 200 shares.
Bonds were weak in sympathy with |
stocks on greatly diminished volume |
of transactions. Tota lSales s1.707.00
United States tours registered were !
Is per cent higher bid. and tours regis
, .. ..
fves registered and coupon ia IL; Pa
cific skies OF 's5. 1o2.
FOREIGN STOCK MARKETS.
New York, Sept 24-The Evening
Posts financial camblegram says:
The stock markets were irregular and
rather duh today. The rise in prices in
New York induced Gales here. and the
market for Americans closed practically
without recovery. The fear at the mo-
ment Is that the New York account Is
becoming top-heavy. and inasmuch az
the Telling here is still limited. profess
i0nal operators are dreading lest New
York may leave them in the lurch.
Grand Trunks were weak. Mines were
better on Paris buying.
The money market Is surprisingly
easy, considering the hardening factors.
such as the issue OF treasury bills next
week. and the payment into the Bank
~ England next week Of the second in
staliments Of money on the japanese
oan. There are also statements today
d a large issue Of a Canadian loan soon,
Is also 1000, coo pounds in West Austria
ian treasury bills.
ssTha pa-fs. I1rr~=a finn Gnfi
ports have had no effect; there are spe-
,ial reserves OF sold in Paris. in whica
money has been borrowed from tn
Bank OF France. The Bsrlin marke;
vas steady. Dutch exchange has fallen
Sharply"
REVIEW OF THE WEEK.
New York. Sept. 2i.-In is review o:
ne stock market. Brads;reets tonor-
-ow viii say:
Speculation continues - be on very
a-ge scale. the weeks proceedings be-
rg attended by seasaa onal incidents.
raay embraced a sharp decline. wirh
leavy bul Nquids;ions. due 70 the ad-
-,nce e IAe money market, followed by
sharp recovery Of prices, encouraged
y ne announcement; nat S2.5o0.eeo gold
vas enroute from Europe. The market
IA notice IA; tie period OF excessive
= low rates was drawing - and eri.
IA on Monday AMI Tuesday last lend
- marked up their call ioans- There
vas no scarcity Of money. nevertheless
Ne s;ock market had become oveTo 3uga:
I'd many spectators were carrying IN
ia-ge amounts o. stocks.
Hence the time vas ripe for liquidation I
Scar Interests hammered TIE msrks;
- - L.