The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-10-09
STOCKS AND BONDS
GOLD IMPORTS HAVE A CHANCE
AT TIE STOCK MARKET.

| GHect BeinS Oniy Ofeappointment TO tna
Bulls. Showing Case of Misplaced
Confidence in the Blowing Eject of tn.
westwsrd-Deaiiuss Limited. and Con
fined Largely to the lrdustrials-
Changes Mainly Gains-DetaiIs of tn.
Gold Movemsue-Review of the Week.
New York, Oct. s.-The bulls were ap
parently impressed with belief al IN:
opening OF the stock market today tha
he beginning in force Of the importan
movement Of gold would effec. a turn il
the market and send prices up again, az
| ter the long sustained reaction. Theil
confidence was dissipa;ed very soon az
ter noon, and the marke. became almos
| lifeless. Business was of the ligh;es
! possible description and the fuctua ton:
| were narrow and unimportant, many
prominent stocks being entirely neglect
ed Total sales for the day for all stocks
were only 25e,o00 shares The bears have
apparently come TO the end OF their cam
| paign, and there is no large buying con-
tingent ready 10 take stocks even a. the
low level. The market seems, in fact,
to have swung 10 s.andsIill. The an
nouncements made today OF gold engag-
ed for import footed up a total OF "a, $50.
900. and OF this amount all but 1890, 600
comes from London. Today's engage
ment of 81 ,50O, 000 in Paris is the first 10
come from that center on the total move
menc, which now foots up $3.50. 600. This
is entirely az variance with all the p-o-
phesies made by the financial authorities
who have fore,old that London could
easily be able TO shift the demand for
gold from the United States upon Paris.
London has apparently viewed with
great equaninity the increasing demand
upon its gold reserves The Bank OF Eng
land has gone on expanding lis loans in
face OF the continuous drain upon its
gold and no change was made on Thurs
day in its rate OF discount. The open
marke; discount rate in London has re-
manned about steady up TO today, when
Il hardened slightly, and the same thing
was true In Paris in response TO the gold
engagements. The effect in New York.
while l. was almost unappreciable on the
stock market, was percep,ible on the
money and exchange market. Time
money was distinctly easier, rates being
lower at 3 per cent for sixty days and
up TO per cent for four and six months.
Actual rates OF sterling exchange ad-
vanced Il per cent and posted rates y
per cent. Tomorrow bank statement Is
expected 10 snow LEG marked contrac-
ton of loans and smaner falling off in
deposits than has been the case for the
two weeks past as a result Of the demand
for current demand. This demand has
been less during the week, and the banks
have not been al the necessity Of calling
in so many loans 10 protect their reserves
Dealings in the stock market were
largely confined to the industrial stocks
and 10 the specialties, and the net
changes, though for the most part gains.
are small, except in few cases. Chicago
Gas again absorbed nearly one-third OF
the dealings and recovered rs per cent
of yesterdays decline. Consolidated Gas
rose points and Manhattan Elevated
IL per cent.
The total sales OF stocks today were
252, 500 shares.
BONDS.
The bond market showed more life than
the stock market, and prices were firm.
Total sales We're sl,5OOOOO
United States old fours registered ad-
vanced Is per cent. and the fives regis
r1p M
l2613; coupon, 1864; fours registered,
1l2I4; coupon, 1874 ywos, 9S: fives. reg 8
tered and coupon. 11514; Pacific skies OF
'9S, 1924.
THE WEEK REVIEWED.
New York, Oct S-Bradstreet's re-
view of the stock market Will say:
Inactivity on the part OF the public,
pressure from bearing operators and
lack OF support from the larger interests
OF the financial and speculative world,
have been the principal factors in the
weeks stock market. The result has
been a narrow and az times a very dull
speculation, win irregular declines in
the greater part OF The list, though only
in few cases notably Chicago Gas. did
the decline assume any serious proper
,ions. The volume Of transactions has
fallen off in marked degree. and no
less significant is the changed character
Of the trading itself. Commission houses
have been comparatively inactive. and
the sneller room traders made the mar
ket for the greater part OF the week. fore
Ing prices lower wherever selling va.
and causing brief and in the
main unimp0Ttant rallies when they be-
gan 70 cover their own shorts. London
has shown very little in.eres: in these
proceedings, though early in IN. week
X bought some stocks at The declines. .
- cover lis Snort sales. This
Indifference. heaviness, and the bearish
attitude Of the market are not accompan-
ed by any unfavorable developments in
the actual situation. On the CONTRARY. /
The principal events bearing on the fnan- I
eiai and speculative positions ara distinct
y favorable. Gold .mpor:4si7ns have
begun, apparently without anything but
natural causes behind them. AMI in The /
opinion o: The authorities are likely 70 a.
am large volume and . continue a:
intervals Tor the remainder % The wear.
Railroad earnings continue % make A 4
-ery handsome showing. those OF the 4
New YORK Central for September beng /
ne larges; Tor any month in the history
z he company. The rush q gain Z.
&c west x apparently decreasing. bu.
abroad officials state that any falling I
II in east5ound traffic ia COMPENSATED /
D By the Increasing volume @ Vas
,ouai miscellaneous an3 merchandise
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