The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-07-27

Day Is Filled With q Rapid Attenuation of
Changers Suffer on Reports of Crop
Damage - Then Reports Come Better
and Things Are Din erent How the
Weak Opening Was of Temporary
BeDefit-SuEsr Runs Up Against q Neat
Little Loss-Bonds Aggressiveiy Strong.
New York, July 26.-The market
ended the day with draw, the advant-
age slightly in favor Of the bulls. The
confused and irregular sharp declines
and rapid recovery alternating, COM
monty called criss-cross market, con-
tinue5 throughout the day. To take
profits at the accomplishment, Of that
which has caused an anticipatory rise
is a way they have in the street. Thus
with congress adjourned and the tariff
disposed Of, professional spectators IN
loaded and sold short. Local reactions
were helped by London profit-takIng
sales from quarter amounting TO 10000
shares, thus dispolling the idea that a
paying movement might be expected.
because OF tomorrow's settlement 10
cover recent supposedly short sales. A
variety of reasons were assigned for
London's passimistic views, among
which were the senate's non-action on
the currency message, and the Japanese
Hawaiian affair, but more generally it
was attributed 10 their regarding the ef-
feet Of the tariff settlement as already
discounted. Prices in the local market
receded about a point, the grangers es-
pecially suffering on private reports Of
crop damage. The weak opening, how
ever, temporarily benefited the market,
having caused the cancellation OF such
selling orders as We're to be executed al
the markets opening today, providing
prices were higher. Railways rallied,
and eased off again. Then crop advices
were more favora bic, and widely dis
tr,Duted purchases Of grangers, stimu-
lated by today's early advance in wheat,
benefited the general market. Exten-
sive buying OF Tobacco on the likeli-
mood that the company would be free
from antagonistic legislation, caused all
OF the c0mpany's securities to rise sharp
ly. Reports Of earnings OF the third
week in July were almost uniformly
good. In some cases the increases were
quite marked. Delaware and Hudson
was strong, the buyers giving no other
reason than general improvement in
the coal trade, but il was reasoned on
the stock exchange that important de-
velopments might occur at the meeting
NJ ~
The tonnage of Reading for last week.
being the largest for long time.
brought that company's preferred stock
good support. This renewed heavy buy
ing revived old rumors of impending de-
IN the anthracite trade.
and s.. Louis preferred
stocks were bid up by the recent buy
ers OF Rock Island TheSouthwestern
stocks were generally strong on i'm
proved earnings All grades OF Sugar
were advanced today but Sugar stock
was subjected TO bear pressure most OF
the day. After an early drop OF "a
per cent, and partial recovery. 1t fell |
again, and when below 142 per cent, the |
nsrket being full Of stop loss orders, GER
tlfcates were forced 70 the lowest point |
Of the day, 139 SIS per cent The intel
ngence that a million gold would leave |
Australia on Monday for America, was
a significant feature of the late news.
Another was a little furry IN call !
It being quoted on a small |
at 1892 per cent, al
though there was abundance OF money /.
Oanable at l per cent. The market
closed with irregular changes
The aggregate sales OF stocks today
we're $40 shares.
The bond market developed agrees
We strength after an early period OF
ledviness; which, however, did not de-
press values appreciably. Improvements
elsewhere were also notable The ag-
yreglte sales were s3.200.000.
Government bonds displayed strength
IN moderate purchases. The transac-
ions were s21, 900.
London, July 27-The Times. IN its
financial article this morning. says:
There has been heavy selling in the
American market on account OF the
allure OF the United States senate 70
.ct upon President McKinley's request
o appoint currency commission"
LOANS AMI A-\IE-- |
New York, July 26.-Money or csIl
lominally 1 per cent. Prime mercantile
PAPER S64 per cent. Sterling exchange
strong with actual business n bankers
ills at s4.S7 1-404.S7 1-2 for demand
md at 81. Sc 1-4d4. Sc IL for sixty days.
oosted rates 81 1-2 and $3.50
S71-2 Commercial bills s4-s5 14@
/. Sc ID Silver certificates 50 1-29 SO IA
Bar silver 80. Mexican dollars IS
New York, July c6.-The market price
Z bar silver reached low water mark
oday. Government assay bars were
Iuotei at SO cents, which made the sill
-er in a standard silver dollar worth
SO cents. as against $50 cents IN
S94 The market opened at 59.ls cents
n ounce, and later declined TO IS IS
ents.
GOLD AND SILVER SHIPMENTS.
New York. July 26.-The 100000 IN
old which was announced would be
2ipped abroad on the 9th by Kidder,
Peabody and company OF Boston were
aiken today from the sub-treasury.
New York. July 2S.-Tne steamer
Crave viii take out tomorrow 2SS. 900
unces Of silver.
TREASURY STATEMENT.
Washington. July 26.-Todays state
aent OF the condition OF the treasury
hows: Available cash balance. $3.50
.. "a; gold reserve, SAB. 1921.
WOOL AND COTTON MARkErS.
London. July 26.-At the wool auction
. :