The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-14
STOCK MARKET HEAVY.
Due TO Local Sentiment on
the Money Question.
MIXED GAINS AND LOSSES
At the Close, Which Is About
Steady-Bonds Dull.
MIXED GAINS AND LOSSES

new Iofks July 1S--Lue 1oAN&1c9o N~tSA
was predominant in the stock market to-
day represented the shifting Wall Street
sentiment regarding the money situation
more than anything else. though it vas
emphasized by the rise In the Bank CT
Englands minimum rate Of discount 20
8 IL per cent and the acute weakness Of
the local Traction stocks, especially Brook
lyn Transit, which declined over 31-2 at
one time. WAX Street had II that strike
had actually bean declared and the Stoke
In that group rallied when this canArd
was denied. Wall Street seemed to ay
more stress on the advance in the Bank
of England rate than London itself. The
stock market there was duh, but prices,
especially OF Americans. were well main
tanned, in spite Of the rise in the private
discount rate. There was a sharp rally
in British consols and in French rentes,
and foreign markets seemed 10 be re-
lIeved from the tension OF apprehension
over the Transvaal situation But never
tbelezs, prices OF the internatlorals led
the decline in New York and many stocks
had fallen a point In the course of the
first hour, the grangers being conspicuous.
Sugar also developed early weakness and
only partly recovered It's decline. The
Southwestern stocks offered a point Of re-
slstance, Missouri Pacific leading. as was
the case yesterday, and St., Louis South
western preferred and Texas and Pacific
following the rise. Anaconda was also
strong. following London's lead. and was
one time up two points. There was SYM
pathetic activity and strength in ANAL
gamated Copper In the outside market,
the shares rising above g. During the
afternoon strength developed in Federal
Steel and Wire, American Car preferred
and cotton Oil, which induced a general
recovery in the specialties. Northern Pa
cific rose 10 81 in the late dealings and
checked the declining tendency on real
iZing. New York Air Brake. after an
early decline. jumped 71-2 points TIE
local money market was easier in tone
but operators who bought yesterday on
the prospect OF a favorab bic bank state
ment were inclined to feel that they had
exaggerated the prospective benefit. There
the Saturdays statement - generally rec
Ognized to be. in the words Of the mana
Iger OF the, clearing house, '.singularly IN
Fortunate In the working of the system
Of averages 20 make the returns seem
worse than the actual condition of the
banks. This weeks statement is expected
to be remarkably strong. but II Is feared
that IL may be equally unfortunate In re-
fecting actual conditions. A number Of
very heavy loans were hquidated early IN
the week and there has since been some
expansion, but the fact Of a progressive
increase In the total will make Saturdays
showing Of loans based on rising averages
and therefore likely TO understate the act
ual total at the end Of the week. The
sub-treasury has been taking money from
the banks and the interior exchanges stih
run against New York. The announce
ment Of one OF the great insurance COM
panies Of its intention to dispose Of all
it's investments in stocks was waight
on the market during the early hours. but
some relief was caused by a subsequent
announcement that the holdings would
probably be disposed OF at private safes.
New York Central's increase In gross
earnings for June Of s56O.0a4 helped the
late recovery in the market. The close
was about steady at mixed gains and
losses.
nThe total sales OF stocks today amount
ed to 4l4ss5 shares. including: American
Steel. II 20: American Sugar. 1850: An
aconda. p 90: Atchison preferred. q. go;
Brooklyn Transit 81 100; Burlington. u Do:
Continental Tobacco. 400; Federal Steel,
$500; Louisville and Nashville. 3000; Man
haitian. 1870; Northern Pacific, 13i0o:
Reading first preferred. 400: Rock Island,
7.4nS ST Paul. Is. 40; Union Pacific. AGO:
Union Pacific preferred, $50; American
Cotton Oh, $50; Brunswick Co. 32o;
Chesapeake and Ohio. 10 0o; Chicago
Great Western. 1900: Metropolitan. 3.sS;
Mexican Central. 1910: Missouri Pacific.
A,s0 New York Central 500; Psnnsyl-
vanla, $50: Tennessee Coal and Iron.
$50: Texas Pacific, II 500. Wabash pre-
ferred. 800
The railroad bond market was rather
dun and irregular. Southwestern railroads
being in good demand Total sales. par
value - s3s0o. United States old IS reg
is,e9el declined IL IN TIE bid price.