The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-21
STOCKS AND BONDS
REALIZING Is TIE ORDER OF TIE
DAY IN SHARES.
Selling 10 Largely by the Outside Public
Been Made Much Of-O6erings Pretty
We'll Absorbed, Rowever-Whfat Mar
kets Fails to Strike Respoasive Chord
in the Street-Graugers and Southwest.
ems Among the Shares Receding Over
q Point.

Point.
New York, Aug. 20-The process OF re
alizing profits on the long con-nued ad
vance n the marke. was today reflected
in the heavy tone Of the market and ihs
cessation OF active outside buying. The
selling was much OF IL by commission
houses and is presumably OF holdings
by the outside public who have grown
fearful OF a decline. Although foreign
offerings on tbs account were large and
although the days sharp decline uncav-
cred a large number of stop-loss orders
at times, the offerings were pretty well
absorbed Orders were apparently wait
ing movement, but the exchange marke;
reflected no immediate likelihood OF in
! ports OF gold. The curious contradiction
in sentiment which has existed for
months past between the London and
New Icrk markets found a new phase
today Higher prices for American Sc
curities came here from London. indicat-
| ing a disregard Of the reaction manifest
ed in TIE New York market Purchases
| in New York for London were made also
! Of nearly all the prominent International
stocks in spite Of the falling course of
prices. Sales for the account We're esti-
mated at 1900 shares. The New York
| market equally ignored the sentiment OF
the London market and went on selling.
| Receipts of American securities from for
| egn houses have been large recently by
| incoming steamer from Europe and re-
cent orders to purchase placed in the Lon
don market by New York houses have
developed that the market is pretty well
stripped OF American securities. Todays
movement looked like a desire Of for
eigners to replenish their supply Of
American stocks.
The extreme decline today was consid-
erably over poin. in a large number OF
shares, including the grangers and lead
ing southern and southwestern railways.
Leather preferred was strong. on the rise
in the price Of product. Tobacco lost
about two points. Sugar moved over
range Of about two points in the market
20 buy scalp down SO that the prices
met a resisting force before they had re-
coded far.
Prices in the stock market did not re-
spond to the sensational rise in wheat,
as they sometimes do. AS far as this rise
was due TO buying for export, and the
continental buying, it was favorable
influence an the stocks, as indicating in
creased purchasing power in the hands
of farmers. But, SO far as il was due 70
81 -
lower estimates of the spring wheat crop
it affected the grain-carrying roads I'M
favorably, as indicating a probable de-
crease in the tonnage OF the freight to
DE transported. Reports Of such condi-
tons were very prevaltnt in Wall street
all day, and the market responded quick
ly, especially to grangers.
The continued firmness Of sterling ex-
change rates was not an ging fea
turf in the market London and the con-
tinental money centers seem 10 be fenc-
ing TO determine which shall meet the
first demand for gold on account of the
heavy crop, but its net change was
small. Western Union, Pacific Mail.
Manhattan, Rock Island and Brooklyn
Rapid Transit were comparatively |
steady Great Northern preferred de-
clined four points; Rio Grande two and a !
half and New York, Chicago and 81. Lou !
is half point.
THE DAYS SALES
The total sales OF stocks today were |
4GS. 200 shares, including: Atchison pre- |
ferred 1882; Chesapeake and Ohio $3.50; |
Burlington ex-dividend 1886; Louisville |
and Nashville II, AS; Manhattan L $3.50; |
Missouri Kansas and Texas preferred.
6. $50; Northern Pacific. 1875; Reading, |
16.OS0; Rock Island. 1880: S.. Paul. 65,-
s23; S.. Paul and Omaha 1855; Southern
preferred SOS; Union Pacific,
II, $50: American Tobacco. 5000; Chicago
Gas $500; Pacific Mail 1925; Sugar Il. 462;
United States Leather 1926. preferred,
1875; Western Union 4.414; Chicago
Great Western 22G75.
BONDS
The bond marke: displayed a heavy
tone on moderate dealings. The specula-
ton was largely centered in the lead
ing mortgages, and there was a decided
abatement in the foreign demand for Sc
eurities. The aggregate sales were
s., 975. 600
Governments hardened slightly on
light purchases.
FOREIGN STOCK MARKETS.
New York. Aug. N.-The Evening
Posts London financial cablegra-n says:
The stock markets here were !rregu-
ar today. with an improving tendency
n the better tone from India. Ansri-
ans. however. closed fla: in the street,
md on the absence OF New York sup
bort. Sales by recent purchasers here
ire not being pressed. but there viii be
10 initiative for rise until New York
ives 4 fresh lead. The recovery in ST.
-er and silver stocks Is regarded as some
WAT artificial. Foreigners are better,
feature being the recovery In B-azl-s +,
n improved exchanges. kafiirs were
ard al the close on reports from good
quarters TIA; Kruger IS regarding The
Concessions more favorably-"
REVIEW OF rHE WEEK.
New York, Aug 20.-B-adstree.'s re- ;
lew tomorrow % the stock marxe; all! / 1
ay: II
Decreased activity ani a somewhat, (
)ws- range % prices have oeen the ala!ri :
aa,ures o. the past week in Wal street
he declines have not been important.
ne urdertyne continues hulIish. and az 5
1u sessions buying has appeared TIE
suss o. che waiting and D some extent
=action by demonstration may be found :
ar,Iy II The acton % the leading oper- J
tors WHO have realized profits. believing e
lat ne market had been going % to, :