The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-26
N ACNVNT
Little Left to Show for the
Recent Upward Move.
COMING BANK STATEMENT
And Depression Abroad the
i Main influences.

New York Aug. S-There was marked
decline in activity in the stock market
today, total sales falling TO less than half
a million shares Very little was left Of
the recent upward tendency Of securities
The spots Of strength were few and Tar
between and for the most part obscure and
usually inactive stocks which moved un-
der the influence OF special causes. De-
preston from foreign stock markets re-
fiected here and increasing anxiety over
tomorrows bank statement were the i'm
polling causes of the heaviness. Financial
centers In Europe obviously labor under
renewed uneasiness over the situation In
the Transvaal There was in addition the
prospect of a holiday tomorrow on the
London exchange to discourage new COM
mitments there. The recent buying in
New York from that source was discontin-
ued entirely and sales for London account
were suficient to exercise a notably de-
pressing influence. There was an opening
squirt In American Tobacco which carried
II up 1-2 per cent, but this was almost
Immediately lost The specialties were
weak for the rest of the day Sugar being
under severe pressure at times. Its ex-
ssoI asu sa pug t-IS seA suHosp swaIl
only about a point less. Brooklyn Transit
and Manhattan succumbed to the prevail
ing weakness. Tennessee Coal did better.
but saved only fraction OF a rise of over
a point. Occasional strength cropped out
here and there under the influence OK which
the market made some effort to advance,
but without success There was notable
buying movement In Union Pacific pre-
ferred, based on suggestions Of coming
increase In the dividend. which carried
the price above so. Consolidated Gas fol-
lowing yesterdays dividend reduction and
a semi-ofFicial intimation that even the
reduced dividend was not earned, climbed
up an extreme ga on demand from the
short interest. Brooklyn Union Gas gained
63-4 There was continued strength in
group Of minor grangers, st. Paul and
Duluth leading with a rise OF seven points.
Wisconsin Central. Duluth, South Shore
and Atlantic preferred, Minneapolis, St
Paul and Sault Ste. Marie preferred. Des
Moines and Fort Dodge and KeolIuk and
Des Moines preferred were included in
this group, gains running from fraction
TO two points. Rio Gfande and Western
preferred, Oregon Navigation, Cleveland.
Lorraine and Wheeling preferred and Chi
cago Great Western preferred "a" were
other points of strength. Kansas and
Texas preferred was the only one Of the
southwesterns TO maintain the early show
% strength. Liquidation was not urgent
on the general list. the market falling into
intense dullness with the declining tend
ency. The known movements OF money
70 rthe week Indicate a loss In cash to the
banks OF nearly $3.5OOOOO. s.. a27.OoO OF which
went to the sub-treasury.
None OF the gold which went recently
TO oMntreal has been returned and no gold
has come from this sub-treasury on ac-
count of drafts from the San Francisco
mint. Without regard therefore to the
possible hidden direction OF cash. sharp
decline In surplus reserves Is probable un-
less the contraction in loans has been
much larger tina rappeared. Interior ex-
changes on New York at several import
ant points showed declines today and there
was considerable calling of loans. The
late declines In the monty rate to per
cent had little Significance. The rate was
quite firm during the day, about 3 per
cent. Contrary TO recent experience Ster-
ling exchange failed to weaken in response
to the firmness of money here but hard
ened a fraction under the influence OF
Londons sales OF securities In New
York.