The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-09-24
STOCKS AND BONDS
ADDITIONAL ADVANCE FOLLOWED
BY a GREATER DECLINE.

| Away on the Encouraging Exc hang
Market-General Closing Level Slight,
below Wednesdays Close and But Few
| Gains Retained.
New York, Sept. z3-The recovery II
prices which began yesterday was contin
ued today during the earlier part Of th'
| session of the Stock exchange, and the ad
vance of prices OF all stocks was apparent
! ly in fun force again until the afternoon
when the support seemed TO be Withdrawn
from the market and prices fell away &c
a general level below last nights close
The rise was stimulated by the announce
ment that a local bank has engaged ST.
00o 600 in gold in France for import 70 this
Country, making a total, with yesterday
engagement, OF s., 100000 gold due TO ar
rive. Receipts Of gold reported from San
Francisco as arriving there from Austria
La helped the recovery. The action of TIE
Bank OF England in advancing rs rate
of discount Il per cent TO 2ls per cent. was
anticipated in view OF the continued de-
pletion Of its gold holdings and the addi-
t.onal strain Of yesterdays withdrawal for
shipment to this country. Yesterdays rise
in prices had stimulated the placing of
some outside orders with commission
houses and T. cir execution was the sus-
aiming factor during the forenoon. The
strength of Sugar, which rose nearly 4
points on the reported intention of the
treasury department to apply the counter
vail:ng duty on Dutch refined sugars"
helped along the rise. There was support
afforded the market all through by heavy
buying of some OF the bull operators who
have been conspicuous In the recent rise.
The effect of the gold import movement
was largely dissipated during the day by
a skept;cism as to its natural character.
The exchange bankers who usually handle
the movement OF gold, both import and
export, were unanimous in the opinion that
at the ruling rates OF sterling and continent
tai exchange here and OF gold in London
and Paris there was no profit in the i'm
portation of gold and the figures of most
of them would indicate quite a heavy loss
on the operation. Much curiosity was ex-
pressed as to the identity OF the clients
for whom the banks are making the i'm
portation and the opinion was quite freely
expressed that the operation was designed
entirely to influence the price of stocks.
The failure of the exchange market 10
harden under the announcement was quite
notable. Equally SO was the continued
firrness of rates for call money, which.
became pretty well established on the ba-
SIS of 3 per cent. AS these conditions be-
came more clearly defined the upward
movement of prices became checked and
there were periods of dullness, followed by
a steady decline 10 the close. the upward
course of the morning being almost exact
~ retraced in the afternoon so that the
net changes for the day only exceed frac-
ton in small number of cases. The ad-
vance Of the morning ranged from ! TO
points in nearly all of the active shares
Besides the sharp rise IN Sugar, Consoli-
GATED Gas at one time was 81 per cent
up and Brooklyn Union Gas nearly three
points. There were other gains exceeding
the average, but none of them were re-
tanned except Hooking Vally, Delaware,
and Hudson, Chicago, Cleveland, Cincin-
natl and St Louis, Laclede Gas. and Sus-
quehanna and Western preferred, which
gained pointer over. The losses also.
which were numerous, were confined to
fractions, except in the case of Brooklyn
Union Gas and Baltimore and Ohio among
the actives. Among the less active stocks
gains of a point or two over were shown
by Cotton On preferred, Lake Shore. Min
and ST. Louis. pa per cent: do.
on second preferred; Norfolk and Western
preferred, Oregon Navigation preferred.
and Pullman. Rumors were disseminated
late in the day that further engagements
for gold for import had been made. but
these exercised no influence on the mar
ket.
The total sales of stocks today were 81
400 shares.
BONDS.
Dealings in bonds showed a falling off in
volume and prices moved in sympathy
with stocks. Total sales, s2.sOo.Ooo.
United States new tours advanced II per
cent, TO 125l4; coupons 1855: fours register
ed. HIS; coupons. 113ls; twos eS; fives reg
stered, and coupon, ll414; Pacific skies of
SIS, l02
FOREIGN STOCK MARKETS.
New York. Sept 23.-The Evening Post.
London financial coblesram says
The changes in the discount rate Of the
Bank OF England announced today had no
offect on the stock markets. having been
July anticipated. Indeed. It IS believed !
hat the rate would have been raised TO 3
per cent but for the fact that treasury |
1:lls amounting TO 100000 pounds are 10 |
De issued next week
The feature in the market today was the /
speedy rally in Americans. Prices closed /
Il the best. Union Pacific and Reading
were especially strong. Grand Trunk and /
Pacific were also good. Mines /
we're better.
Opinion as TO the date OF the next ship /
neat of sold TO New York differ widely. /
everyone is saying that the movement is !
nurely exceptional and will probably not /
'e repeated. but the shrewd ones prefer
o hold their opinions in suspense, pending
he course of the New York money market.
Details Of the gold movement for the week
how the receipt of 1000o pounds from Aus
rslia. the export of 10000 pounds 10 the
ointment. OF 5000 pounds TO Egypt. and :
U.o0o pounds TO South America. and the
ale OF 1000 pounds n bars and cables.
IF this latter amount about $4,000 pounds
vas for Russia, where a considerable in
ustrial revival IS said to be going on.
The local discount market Is unsettled
y the change in the bank rate, but IS SIN
comparatively easy.
The Paris and Berlin markets were bet
err
LOANS AND EXCHANGE.
New York. Sept. 2S.-Money or call firm
I 3 per cent. Prime mercantile paper 4.
. per cent Sterling exchange easy with /
ctual business in bankers bills al 81 so. :
S. for demand and a. aSl.14 81, for
Nty days; posted rates 81 SliS ana
SIsGS S5i2: commercial bills. aS. Silver
ertificates 5sz3Ssi.- Bar silver 5ss.; Mex
an dollars, 4sc
GOLD FOR BOTH COASTS.
New York. Sept. SS.--L.a Houraine. OF the
rench steamship line. which sals from
iavTe on Saturday next. VIII bring 10 thin
or s. Lssl On IN s-nl.i c,r,sisraE % .hs H.