The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-23
HARD Fight ALL DAY.
Bears Have Much the Better
ofthe Conflict.
SOME NOTABLE TUMBLES
industrial SpeciaIties are the
Ground of Battle.
SOME NOTABLE TUMBLES

New ork, Aug. IA comaint ragged all
day between opposing speculative inter-
ests of the stock exchange. The industrial
specialties were the chosen field of battle
and the most violent contest ragged about
Brooklyn Transit as has been the case
for many days. This stock showed EVIL
dence Of support at the opening Of the
stock market and got at one time over q
point above last nights closing level. In
face of this support and q rally in In
ternationai Paper from Its severe loss Of
yesterday the bears turned their attention
to other stocks which seemed for the mo-
ment to offer a more vulnerable point OK
attack. Sugar dropped almost immediate
ly Ia on account Of the cut OF the price
of refined sugar by the company and the
meeting Of II by competing concerns Steel
and Wire lost points on the failure OF
the listing committee Of the stock ex-
change to act favorably on the applica-
ton Of the company for the admission OF
the stock to the listed department Of the
exchange. Later in the day Manhattan
and Consolidated Gas were added to the
objective points Of the bears All these
stocks were 50 severely handled as to
check very materially the disposition to
buy railroad stocks, which showed Itself
In continued force during the early hours
Of the trading. Much has been hoped for
by the friends of Brooklyn Traneit from
the publication OF statement Of the COM
pany's finances and estimates Of earning
pow er under the recepa consolidation. The
Statement when published proved to be
obscure and the estimates were so far
from satisfactory that a perfect deluge
Of stocks for bo.h accounts was Ihrowa
upon he market, Carrying tie price down
by successive stages to IA above par, an
extreme drop OF nearly six points. Only
the most determined support checkeI the
decline at that point, enormous Individual
blonks being taken before the rally was
effected. The stock was lifted again to
102 rs, and closed at 102 S. The extreme
weakness of the specialties was ignored
for time In tht railroad list, where there
were early advances in Denver and Ric
Grande Norfolk and Western, the Reading
stocks, Baltimore and Ohio and Wheeling
ana Lake Erie preferred, the Batter rising
over points. The continued and violent
decline In Brooklyn Transit caused SYM
pathetic depression throughout the mar
ket, earlier gains being mostly wiped out
and number of standard railroad stocks,
including the grangers. dropping a point
or over below last nights prices. The rate
for call money rose to 4 per cent late In
the day, probably not without manipula-
ton, but quickly yielded to per cent near
which 1t had ruled all day. The anal
rally In Brooklyn Transit afforded relief
to the whole market. and losses were part
ly retrieved. the most active specialties
recovering from to points. There was
a notable advaace in the latter part of the
day in Norfolk and Western stocks filter
the common had reacted a point with the
general list These stocks show net gains
of SIS for the common and 1 IA for, the
preferred. London sold about 1900 shares
on the balance of this market. Closing
prices were as follows: