The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-22
HARD Fight ALL Day
Between the Bulls and the
Bears in Wall Street
RAILROADS ON THE RISE
Affected Adversely by Raids
on lnduStrialS

New oYrk, Aug. M-There was . bat
tie royal between the bulls and the bears
on the stock exchange today. The bulls
had somewhat the advantage Of position
as they were entrenched behind q large
and well distributed demand for all vari-
cites. Commission house business was on
a very large scale and the movement Of
prices in the majority OF the list was
varied throughout the day, realizing go
ing on a libesal way at one portion OF
the list, while prices were marked up IN
another. One or two stocks showed con-
spIcuous strength, but tie tendency to
advance in the railroad list vas surpris-
ingIy Uniform, and took In all grades CT
stocks from the highest TO the iow-priced
issues. But there were spots In the indus
trial list which proved exceedingly vul-
nerable and the fierce and persistent de-
termination with which the bears ratded
these resulted In wiping out the majority
of gains which had been achieved In the
railroads and reduced practically all mat
remained to fractional limits. Brooklyn
Transit suffered the severest attack from
the bears an day long. 1t was offered
down through successive stages, each
each drop bringing out a deluge OF long
stock and dislodging copious steep-loss or
ders OF the so-called Flower group. They
forced down International Paper an ex-
IRENE s points and Federal Steel suffered
to the extent of 35-S. Peoples Gas lost
over 2 points and Rock Island q point.
The extent of the decline invited hasty
coverings and there were rallies Of l to
points in the group Manhattan, Met
ropolItan and Third Avenue showed wide
declines, in sympathy, ranging from 2 is
TO 1-2 in the case Of the first two named.
Sugar was also vulnerable. after an early
gain IA point, and dropped nearly ?
points Steel and Ware showed a
markedly dropping tendency and Iron and
Steel stocks were also heavy. The influ-
ence of this weakness on the railroad list
was accumulated by late marking up Of
call loans to 3 1-2 per cent. after having
ruled at and below per cent during the
early part of the day. The fact remains
that a large portion OF the days business
in the railroads was done at prices above
Saturdays level There was enormous alb
sorption OF stock from the opening. in
spite Of the rather heavy tone reflected
from foreign stock markets by the dlsor-
ders in Paris an uneasiness over the po-
htical situation and the spread OF bubonic
plague. The Tennessee Goal rose buoy
antly 4 IA points to par In the first few
minutes OF trading. 1t went back during
the day to 81. but closed at 90 Louis
Vile continued in active demand and sold
up to 50 7-s. A number OF low-priced
stocks, notably Denver and Rio Grande
and Northwestern. were In good demand
and the last organized buying OF Southern
Pacific was continued This stock wss
held'bacaS by realizing and did not at any
time rise more than a small fraction over
Saturday. Stocks Of railroads in Colorado
were uniformly strong on the improve.
Atchison preferred. the Changers, the
Coalers, Baltimore and Ohio stacks ard
Union Pacific were In large derrand Very
little remained OF the early gains in these
stocks, which reached point or over in a |
number OF cases. American Tobacco |
gained nearly two points. There were a |
number of other more obscure stocks |
which showed strength during the day. |
Closing prices were as follows: