The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-09-22
Stocks and Bonds.

New York, Sept. A.-There was consSd-
cradle further Liquidation in today's
stock market. bit prices showed some
resistance all day and in the later trad
ing there were quite general reoover1es
on the early losses, and small nes gains
are the rule. The late recovery 1id not.
however, bring prices fully up TO the
opening level Buying by aroitrage bro
kers when the market opened here was
responsible for the advance ard the buy
ing for London account was estimated
at close 20 2o,o00 shares. The p.ofes-
sionaI ooerators in New York seen, 81
suspicious CT the rise in London, ami OF
the high opening made IN some Of the
specialties, notably Sugar and Brooklyn
Transit. They therefore sold these stocks
with assurance at the high level Yes
terday's rather violent decline had the
inevitable effect Of attracting colsidera-
bIe selling orders from outside sou1 ees.
Prices. therefore, yielded very generally
after the opening and declines "a 81 q
from / TO IL points were effected n 4
long list Of stocks. Peoples Gas was
especially affected and lost "a and Gen
eraI Electric as mucn. Louisville was
the weakest Of the railroad list and fell
at one time point under last night.
Some wider declines were made by
newly awakened dormant stocks Con-
sidering the range Of the movement the
days final changes will be found sur
prisingly small, a contamination which
suggests a general closing Up of specula-
tive soecialties. That the shorts were
buyers on a large scale was pafpaDle
and the circulation OF the favor.te can
show that the bears were rather hard
pressed. The forecast for an unfavorable
bank statement. the developments in the
miners strike and the report that an
agreement between steel operators and
their employees seemed improbable did
not appear 70 weaken the market, as
they had been discounted by yesterday 8
selling. The report of the weeks cur
rency movement indicated a loss in cash
by the banks of 6,C00.e00 or upward Of
& 10000 more than last week This
showing disposes of the supposition that
last weeks movement was made aono--
NAL by the movement Of the relief fund
to Galveston. A further loan expan-
sion is counted upon with confidence, in
view of the large remittances known to
have been made on account CT the Ger
man loan payment, which is certain 10
banks. There IS every probability, there
fore, Of a further substantial inroad up
On the surplus reserve In the bound
fIOm yesterdays depression. even this
factor was changed from its influence of
yesterday to one of some OF the encour-
agement as indicating the high level Of
activity Of business which continues in
the country at large In the same spirit
It was argued that the flow Of American
capital into foreign government circles
IS likely 70 aid the country's export
trade IN view of the fact that our
needs for foreign merchandise continue
less than foreigners needs for ours. and
that domestic money conditions do not
call for gold imports. foreign demand for
our products would have 70 find some
limit If this domestic demand for for
eign securities did not offer an offset
Bonds continued reactionary and did
not rally with stocks. Total sales, par
value, 1865. 600 United States SIS ard new
IS declined 4 per cent in the bid price.