The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-18
Trivial Mt CHANGES
In Stocks, Most Being on the
Side of Losses.
LABOR TROUBLES FIGURE
In the Days Business-MOney
0utlook's Influence.

New York. July 1.-THE stock market
today was an aimless and insignificant
affair except so far as the dizziness and
neglect were significant OF the doubt teit
In many minds over the money outlook.
Operations were strictly connnel &c rlo-
fessional manipulation by the rOoom uad-
ers. This kind of trading resulted in ,n'y
trivial net changes, most OF which were
on the side of losses. The range Of LTIees
was quite wide during the daJ, many
stocks at one time rising shade over
Saturday then dropping to points. The
latter portion of the day was devoted to
a desultory covering movement Wish re-
claimed most of the earlier losses. Even
Brooklyn Transit which was the center
of the days weakness. recovered - with
in 1-Sc OF Saturdays close. but yielded
sharply to bear pressure in tinal dealings.
Labor trouble played a large part IN the
days business. Brooklyn Transit beng
most conspicuously affected by reason or
the strike among its employees. The
stocks opened Of ! rs and Manhattan
and Metropolitan Street Railway we're
keenly affected in sympathy. the former
losing IA and the latter points Brook
iyn Transit was vigorously supported by
inside interests and quickly rallied a
point, giving the short interests. which
is supposed to be large, small opportuni-
ties to cover. Later the stocks fell an ex-
treme IA when the news came that the
street car strike in Cleveland had been
renewed, as il was feared this might
presage a general sympathetic strike
Peoples Gas and Federal Steel. as being
Flewer specialties, were depressed In
sympathy with the Brooklyn stocks. Fed
eral Steel dropping an extreme 1 a. New
York Air Brake also broke II points and
after vibrating widely scored full re-
covery. American Smelling moved Up
ward on the decision Of the Colorado su-
preme court against the constltuti'nality
of the states eight-hour law. the conflict
ing interpretations Of which led 10 the
shelters strike. Tin Plate moved up on
the wage scale agreement and the sd-
vance in the price OF the product. The
late weakness of Brooklyn Transit and
break In Sugar of nearly points brought
the most active selling movement OF the
day. when net declines reached p"sEt
I'm a number of cases. including the
Changers and Atchison preferred. and in
New York Central reached SIS The fall
ure of the call money market to weaken,
in spite OF Saturdays favorable hank
statement. caused uneasiness regarding
the future. Most Of the days loans we're
made at 1-2 per cent and the rate weak
ened to per cent only after most of the
demand had been satisfied. Rumors Of
financial difficulties in London caused
doubt and hesitation In all the worlds
great stock markets. The private 6is-
count rate there rose to 81 per cent
and demand sterling and cables here I'D
vanced IA cent. There were very psIsis-
tent rumors that gold would go from New
York this week. Transactions in the local
stock market for London account we're.
however, Insignificant. The absence Of
any announcement of a gold shipment ty
tomorrow's steamer was a factor in che
late recovery OF the market. which
brought prices generally back to near
Saturdays close.
Total sales stocks were 1.34S shares.
including: American Steel. 1000; Sugar
O. 900; Anaconda. 1880: Atchlson. 2so);
Atchison preferred, $500; Brooklyn
Transit. 50 800: Burlington. 1850; Federal
Steel. 500; Federal Steel preferred. Zoo:
Manhattan, . so: Northern Pa ciac, lc.-
600: Peoples Gas. 3noo: Reading H-st ire
ferred, 800; Rock Island. 6.9)0; st. Paul,
e03Oo: Union Pacific. 4eO0; American Cot
ton Oil. 100: Chesapeake and Ohio. 400;
Missouri Pacific. 12s0; New York Cen
trail. 500; Pennsylvania. 500; st. Louis
Southwestern preferred. apo.