The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-01

Greater Net Decline Than Wednesday,
Americans Lower in London.
New York. Sept. 3o.-There was no
sign of anything in today's stock mar
ket to give encouragement to the hope
| of those who profess TO believe that the
market has run its course SO far as re-
action is concerned and is ready TO re-
sume its upward course. The character
| Of the dealings did not differ in any re-
spect from those Of yesterday. Prices
| We're raided down with great facility
and the dealings invited large offerings.
The slight rallies which occurred few
times, on the contrary, led 10 an apIost
| total cessa ton Of activity and tb1 up
ward course OF prices was haltilg and
! difficult. The net declined achieved to-
day is very much greater than that of
! yesterday, only because the bears re-
served their greatest efforts for the last
half hour of trading, leaving no oppor-
tunity for recovery before the close
This was apparently owing 70 a lack Of
confidence on the part Of the bears, who
| were content to leave their short con-
tracts uncovered over night instead OF
realizing Immediately. The market was
almost wholly professional and the deal
ings seemed to be confined to the room
traders. except where the sharp de-
| clines covered orders placed to stop loss
orders. These were in large volume and
aided materially in the decline. A fea-
~,
position of the operators for the London
account, who were sellers today. Lon
con prices also came lower, and this
was said 10 be due to a resumption Of
the selling there for New York account
which was sopersistently adhered to up
TO a short time since. Some Of the sell
ing in London was attributed 10 Paris
orders, owing 10 a monthly settlemen
in progress at that centre. The state
ment of earnings Of Burlington for Au-
gust had been expected 10 check the de-
cline in prices. but, favorable as il was.
It had not only been fairly discounted,
but exaggerated reports of the extent OF
the Improvement had been put in circu-
lation for effect on speculation. The ac-
tual result, showing an increase IN net
earnings for the month OF s3i4276. is
ample indication of the enormously in
creased traffic which is handled by the
railroads.
The resignation Of the Spanish min
istry and the prospects Of LIBERAL gov
eminent in Spain were accepted as tend
ing to amelio-ate the relations between
that county ami the United States and
the news that conciliatory proposals
from the Cuban insurgents had been re-
ceivei d Madrid also tended 10 deprive
the bears OF their pet weapon. the Gu
ban question.
\ decline in sterling exchange Of 1-2
cent in posted rates and l cent in &c.
tual rates brought the price apprecia-
bly, nearer 10 the gold import point ana
was a favoring factor 10 increase in
prices as we're a Slightly easier tone in
the money market and somewhat re-
ducei volume OF clearing house ex-
change. The bears forced a decline in
spite Of all these conditions and made
especially fierce raids On special stocks
The active list shows = ne; Joss - over
8 point and in very many cases o more
than points. Gas stocks were the tea-
ture Of the days trading. me net de-
Cline IN Consolidated being Is = Per
cent; in Brooklyn Cn-on . II per cent.
in Chicago gas IS per cent; = De-
troit Gas ani in other stocks frac-
ton.
Total sales OF stocks today. 1880
shares.
Values o: railway mortgages held firm
against TIE decline in stocks On reduced
dealings. Total sales reached Only ST.
$4,000.
BONDS.
Government bonds were strong, ne
new and old tou-s and ne ives were sd-
vanced is AMI IL 5li al around New
fou-s regular and coupon Is Il; f-urs
III 81. coupon is 81: seconds 9S: fves
regular and coupon IA =; Pacific SKIES
o. rs. 1o2 -.
LOANS AND EXCHANGE.
New York. sept. 3o--Moaey OF call
steady a, 1-31S Pc cent; last Iosn ?
per cent; closed offered al per cent.
Prime mercantile paper ! LAS 20
cent. Sterling exchange weak Nth &C
,uaI business n bankers L4ls a. 81 81
S-4 Ter demand AM 81 s.. Sc 1-2Gs-Ss "A
to- SKY days. Pcsse3- axes - S29i-s
and s4s5 l-2Gi 80. Commercial bills
81. lG4.sI IL. Silvt- certificates - Ga
a55 Bar silver 81 IL cents. Mexican
dollars - -
FOREIGN STOCK MARKETS
New York. Sept, 30.-Tce Evezing
Posts London financial c4alegran says:
The stock markets here were scc1
today except Americans. which followed
she New YORK lead aid closed ~ sSou.