The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-08-13
REACTED ALL ROUND
Bears Have the Best of It in
Wall Street.
NEAR THE LOWEST
Marked Falling OFF in Bond
Business.

| New York. Aug. i2-There was some
continuation today Of yesterdays sailing
| TO realize on the recent sustained ad-
vance in stocks The bears ware much
more aggressive and sold stocks with
growing confidence as the day progressed.
The advantage AZ the close ives clearly
with the bear contingent. bat the bulls
were By TO means routed and continued
| to absorb their favorite stocks which re-
sisted the decline quite arusy but with
out overcoming the general downward
tendency. The effects OF last nights
furry in call money were still psrcepEols
this morning. when can loans were made
a. 2 per cent There is nothing which
brings 50 quick q response IN q speculative
market as a stinening OF call money. and
the buying OF stocks halted this morning.
Il was expected that the cash absorbed
by the treasury on account Of the govern
ment loan would in future be left on de-
post with national banks. but government
deposits with these banks, FOR some rea-
son have not kept pace with the treas
ury's absorption OF cash on bond account
The money rate eased OF during the day
and closed at "a bid The bears by that
time were forced 10 seek other material
for their campaign. The persistent weak
ness of Manhattan sII day on reports Of
decreased earnings was = factor in their
favor. Prices OF stocks hardened very
percspubiy during the middle portion OF
the day after the fears OF tight money
had somewhat subsidized. The bulls took
hold Of the low-priced railroad stocks and
bid up Northern Pacific and Union Pacific
over a point. The bears final raid in the
last hour was conferred on Louisville and
Nashville, in connection with the state
ment of earnings for the first week in
August showing decrease Of over $4,000.
There was a private" telegram from
Chicago in circulation reporting yellow
fever in exas and Alabama Louisville
and Nashville dropped two points under
This onslaught The bears expressed their
apprehension that the Anglo-Russian
crisis would result IN forced Liquidation in
New York for London account. though
London was a buyer OF stocks here early
in the day. The market reacted all around
some stocks falling TO the lowest but
others showing quite a firm tone There
was only a very feeble rally. however,
and the close was near the low point Of
the reaction. Net changes were very r.
regular, quite d number OF the Iow-priced
stocks showing sharp gains.
Total sales of stocks today were 1914
shares.
There was a marked falling OF In the
business In bOds under d yielding tend
ency of prices The Oregon Navigation
per cents made the second In the list OF
reorganization As TO touch par. following
closely the Northern Pacific prior liens.
Total sales were s., 80 600.
United States nav AS registered and the
old As coupon declined 4 in the bid price.
FOREIGN STOCK MARKET.
New York. Aug. 12.-The Evening Posts
London financial cablegram says:
Today the market was quiet and The
tone was weaker. Anglo RussIan-Chlnese
affairs. though not taken seriously IN the
city are having a depressing effect n
dlscouraging confidence on the part Of the
public The feature IS the sharp break
in Grand Trunks on The disappointing
haIf-yearly statement showing fun inter-
est on the guars nteed stock. but only
f2.50 put forward L IS believed that
the directors probably have placed n
large amount in rolling stock. Prices
closed quiet az the lowest. WIKI a heavy
fall Many weak bulls were shaken out,
however and an uUnats recovery IS
looked for. Americans were dun on profit
taking. closing above tha lowest Argen-
tines and Brazils keep firm spanish ws-e
fat and were sold from Paris The fall
in De Beers continued and Is stIl uuex-
panied. but from inf7.nat'o1 received. :
believe that the anticipated coming from
certain quarters par-ly accounts for Il.
Sympathy with New YORK caasei a futt.r
in money rates yesterday. which as
cosely watched and on cal rearly s2C09-
go are due today on new India SOCKS.
London, Aug E-Spanlsh foE-s closet
al AZ -
Paris. Aug. 12-spanlsh fours closed az
go Prices were firm on the bo1rse to-
DAY a. the opening. but Spanish f5ura
afterward weakened on realizaroas- Bra
gillian securities were main aimed zn5 Rus
sisas were heavier
Berlin. Aug = -Busi1ess vas Irregular
on The 5ourse today, due 70 weak Vienna.
ard Paris aiv.ces, s7lnlsa f0urs and
Austrian securities Raced Bank and
nine shares were drn-
LOANS AND EXCHANGE h
New York Aug = CSosa1-Wo7sy o.
call strong. al 2G3 per >eHt IT.ue ner-
camille paper. 3I-474 - per cent SER
ling exchange. steady. MI actual bust
zezs n bankers bis ~ vs. l-4e74s s.
for demand ard a. s. = 2-IItLSi s0r sixty
5avs Posted rates. ~ l--1{E ard = -
a4ssI-2 Comr1srcla 5luS slSZ silver
certificates. 3 3-i95s - "a silver. = -
Mexican dollars. =
REVIEW OF THE WEEK
New York. Agg t2-B-ads--eeI' 1nzz-
ca reg4eE tonorro~ VII say:
Successful progress = Re pare ,szo-
size.o-s with Span and veassE-i1E nsws
az . IRE crop. produced = tg--aar buy
Tx rors-senr n re Tzsl-1z6 shzTs l-st-
TIE actvity Eas CT a decidedly larger
scale. ard Re outside pu5Lz ~ss Igc1
more % a factor sEa1 r. so--s ..-ns past
LONDON zas a SER here o. IRE sizTzzce
Il ths sz-lT pat q tae week est To
Is-sr sexsIor-ns rs s-clg5ed re- CAY al
increase 90 transactions 2 A-1s-sczzs
sherz b.. ~ Increasing interest y c1eza
OF - az g r. Lousca PRISE TIE
s-.s-z.i as1o-s here Vr=sez<et -5zEg l1t.es-
rso~s esz- large profess eral ~ s-szts aaE
-es-z7@a OPERATIONS On 80 5rI slse. ard
sz-s zs-e u. -zrEzE il IRE csoszE 6zys
e ~ x=sx --a< saca people we're asa-sI-
i-g susczlz,ivs p-ssts = s,iEzt ,sz1-
oo-a-y az-5en-zE Q. ca l1zz Ezsez can't
- sd 70 cave zA1 mach eject o. ssz31-
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