The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-09-27
WITH SLIGHT LOSSES
And Unsettled, the Stock
Market Closes.
RAILWAYS FAIRLY FIRM
tobacco SIumps Badly Late
in the Session.

New York, Sept .-The acton Of to-
days market At The opening was disap-
chased Saturday on The favorable bank
statement were speedily let go and coz
nicments made for tas short account.
The higher range ot London prices en-
coUraged the bulls and efforts were made
10 advance prices 10 a parity vita the
London figures. The rise 4 the foreign
market IN Union Pacific showed that the
/ foreigners were becoming reconciled 20
! The dividend action. Opening prices here
were somewhat mixed but tne hesitancy
/ was soon succeeded by z genera plunge
/ downward under me guidance OF the spe-
( ciaIctes. Stop-Ioss orders were uncovered
| IL the leaders and the market for d time
was az the mercy Of the dealers, who
/ searched diligently fer weak spots. oGs-
Sip that disagreement existed between
some OF the speculative pools was color
Cd to some extent by the severity CT the
break IN spots. Prices for Tobacco, Peo-
Pies Gas and Brooklyn Transit melted
away rapidly but Sguar. after a dip down
ward OF a point, encountered supporting
orders and ruled above Saturdays close
for the remainder CT the day. The rail-
ways meantime fell sympatheticaIIy but
the losses were confined to fractions and
after the first rush 20 sell had abated,
settled down 70 q level slightly above the
lowest and resisted subsequent efforts at
depression. The firmness was accounted
for BY the publication OF numerous trsf-
nc statements. covering a wide area Of
territory and showing substantial increas-
es. The gains in some Of the southern
lines were especially gratifying in view OF
the slow movement OF cotton, and quar-
antine regulations in some sections. These
conditions were responsible for the mark
ed decreases reported by the Southwest
ern group. Arbitrage houses had purchas-
ing orders, but the action Of the market
discouraged any extensive ventures and
only slight sprinkIing OF various stocks
was taken. The elimination OF an ac-
tive speculative interest from the mar
ket owing to the rigid observance Of the
Hebrew holiday Yom Kippur, reduced
business considerably. and the raid or. To-
bacco also chilled the outside demand.
The decline in Tobacco was attributed
principally to q denial by officers Of the
Drummond concern that that concern had
been absorbed By the American Tobacco
company. Bears attacked the stock wit,
considerable confidence and drove II
down Considerable amounts Of stool,
were liquidated and the apparent willing
ness OF the insiders to see the prices low
er invited extensive selling by the shorts
IN the last hour the stock moved m
ward IN sympathy with the general mar
ket. Sugar moved up to 123. and The rail-
ways, which had moved Independently Of
tobacco throughout the day. ruled the
best In the final dealings Tobacco sIrmp-
ed badly and touched 139. The other in
dustrlals also suffered from reaIfa+,ons
out no appreciable declines were record (
ed in the standard stocks The marker
left of unsettled with slight losses gen I
orally.
Call money rates stifen.d SHARPLY late /
IN the day, and 81 Per cent was quoted
for a time The bulk however. of the
transactions were made at 31z per cent. [
and some accommodations were secured /.
early in the day at per cent
Total sales Of stocks today were $50 900 I
shares.
BONDS.
The bond market lacked decisive tone.
but dealings were light ard variations
IN either direction uEimportant Total .
sales were 81 S2e 900.
Government bonds were unchanged on /
bid prices, but purchase Of the new
fours coupon was made al sc higher than
the last sale.
FOREIGN STOCK MARKETS.
New York, Sept 2s.-Evening Posts
London financial cablegram:
Today being the eve Of the settlement
and a Jewish holiday. the stock markets
here were Ifeless, while the tone was
dull on the political situation a recov-
cry in Argentines and in Karfirs was the
only exception. Americans were duh and
featUreless- Union Pacific was support
ed and Louisville and Nashville was Of
fered- 1t was reported that a large pro-
portion OF the gold withdrawn from the
ba nix OF England for New York last week
was not shipped. but cannot confirm
the story. Russia and Germany are the
only buyers OF gold for the moment. al
IS IIl=d- Today's slightly easier dis
count rate hare was due to the acton
Of the American money and sterling mar
kets."
Paris, Sept. 25.-Business OF The b0u-Ss
was UNDECIDED during the early portion
Of the session today. owing 70 the cor
h-ct-1g Trmo-s II regard 20 the cab.-er's
decision IN the matter a q revision OF tha
Dreyfus affair, but improved wien TIE
result CO the uilistry's decision was r7s5a
known and the market finished strong All
around
Berlin. Sept. 2s-Businass on n. bou-zA
today was quiet on account O., the Jewish
holiday. Spanish foUrs weakened o.. the
rnfav0rab.e revenue returns Local s.
curtties were firm.