The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-11-10
DESIRE IO LlU|DAIE
Is Pronounced Among Hold
erS of Stocks.
TREASURY WON'T RELIEVE
Silver Certificates Bought at
a Sharp Advance.

New York, Nov. s.-A general dispod-
ton to nquidate in speculative holdings
was manifest in the stock market today.
Early in the day some general strength
was manifested. which was due primar-
lily to the high quotations eabled from
London and which was aided by strength
in special stocks; but the growing stiff
ness of money and the total absence OF
any outside buying demand discouraged
the bull element and there were sellers
of the whole list as the day advanced.
The weakness of stocks was very we'll
distributed, except for special collapse
in Leather, and affected all departments
of the list. Declines in the industrials
and specialties are rather greater, be-
cause the commitments for the long &C
count in those stocks were larger. There
was very heavy selling throughout the
railroad list and a large number of prom
knent stocks in that department show net
declines of point or upward In the
specialties the average runs between one
and two points for the leading stocks. An
exception should be made of the iron and
steel stocks, several of which offered
good resistance to decline Steel and
wire and American Hoop were examples.
Attention was almost wholly centered In
the money market outlook. The continu-
ing demands on the New York banks are
regarded as foreshadowing a still fur
Their decrease in the proportion of cash
reserves in the next bank statement.
The emphatic utterances by treasury Of
ficials against the policy of any further
measures of relief by the government
dissipated the hopes that were prevalent
in Wall Street yesterday. AS the banks
have lost already to the su5-treasury
something like 100000 since last Friday,
the attitude OF the treasury is import
ant. Shipments by the New York banks
to their interior correspondents are re-
ported to be on as large a scale as last
week. New York exchange at Chicago
fell again today to 10 cents discount COM
pared with 10 cents premium at the OPP
ening of the week. The continued ex-
pansion in the interior need for money
and the absorption of the treasury by
means of the surplus in the revenues Is
me thy the calling in of loans placed IN
the stock market on stock collateral
There was a sharp fall in sterling ex-
change today. partly due to the frmer
coal money market and partly TO an in
creased supply of collateral bills which
are now coming forward in larger VOL
ume. But the weekly statement of the
Bank Of England, showing a progressive
decline in the proportion OF reserves to
liability, precludes the hope OF relief
from that quarter. The recuperation
shown by the Bank of France in its
weekly statement relieves the apprehen-
sion of an immediate rise in that lnstitu-
tons rate of discount. but this is a
small palliation of the generally harden
ing tendency of the worlds money mar
kets. The closing OF the stock market
was easy and near the Ioow price Of the
day for most stocks An incident of the
day was the demand for silver certih-
Gates al a sharp advance. Closing prices
of stocks are as follows: