The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-08-10
WITHOUT 4 FEATURE
New York Stock Market Dull
and Undressing.
LIFE IN MONEY MARKET
Gold Going to France and Cur
rency to America.

New York, Aug. s.-Quotations were
hardly more than nominal in the stock
market today. There was not q single
feature of striking interest in the days
trading and the aggregate number OF
shares sold fell below 10000 for the first
time in several years In a full trading
day. There was a disposition to disre-
gard the weakness reflected from Lon
don, in spite OF the fact that sales for
London account ran I'D to 500 shares,
which is large total compared with the
recent average, but the declines ~-h oh
resulted here were hardly more than
momentary. The variation during the
latter part of the day was scarcely ap-
probable in most Of the stocks traded
in, and the average level OF prices show
an insignificant change today. 1t was
noticeable, however, that in any indi-
vidual stock in which large order was
executed the resulting price movement
was wide. This was true Of either
selling order or a buying. Chicago and
Northwestern, for which there was
buying order for several thousand shares,
was a conspicuous example. rung up
nearly points. A number OF lately dor
mant stocks ran or sharply on selling
orders. Buffalo, Rochester and Pittsburg
rose points on. single transaction.
Realizing in Rubber cost that stock
points The decision reported by the
syndicate which underworld the Ameri-
can allotment Of the new British exche-
quer bonds not to ship gold on Satur-
day caused some surprise. In view Of ths
obvious fact that the Bank Of England
based its maintenance Of its exis,irg
discount rate on the expectation of early
receipts of gold from the United States.
The decline in sterling exchange which
fell back to $4.SS for demand, however.
took away the profit on exports The
fact that loans have been repaid to the
Bank of England to the extent Of 81
~, 900 indicates that the bank has been
asking a higher rate than its official
minimum, which continues below the
open market rate. It transpires that
part of the consideration for the allot-
ment of over half the exchequer bond
issue TO Anglo-American houses was an
agreement that the payment should be
made in gold to the extent OF 100000.
and It is said that the Bank Of En-
gland allows nine days interest at
per cent on these shipments. The bank
in addition raised its price for American
eagles today a full penny an ounce 10
7s shillings pence.
This action may be prompted by the
renewed competition for gold by Paris,
which came as a surprise TO the money
market This surprise was increased BY
the strong return from the Bank OF
France for the week. That institution
has gained $45S0.0O0 in gold during the
week and has reduced its outstanding
loans over 100000 It's note circulation
has also decreased some s15,50o.e00. That
France under these circumstances should
still be seeking gold is measure of
the preparation thought TO be necessary
for the coming war loan. AS TO our own
money market, the payment by the
banks TO the sub-treasury for the god
bars exported has wiped out their
earlier gains from that institution and
established a loss OF s.. rs, 0oo. The IN
terror currency movement, however. con-
tinues largely in favor OF New York,
and with speculation practically stag
nant call money fell today to / per cent
Closing prices of stocks were as follows: