The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-19
Bulls LET Up 4 BIT
Recent Manipulation Fails of
Intended Effect.
MARKET EXTREMELY DULL
Net Result of China News Is
a Stand-0f.
MARKET EXTREMELY DULL

New York. July ls.-The bull party de-
sisted from their efforts 10 advance
prices today. and the recent appearance
IF activity. due 10 the irregular opera
tons, promptly gave place again 70
something near 20 staguation- Whtle
the pressure 70 realize was not severe.
II was evident that the recent demon
strative buying by the bull party has
failed utterly 70 attract any demand
from outside sources so that no market
Is offered for the taking o. profits Il
is not difficult TO fore-sE what would
be the effect under these circumstances,
Of the selling out Of recent speculative
purchases. Apparently the principal
reason for the cessation OF bull manipu-
ladon was the demonstrated futlliry q
the attempt 70 attract on de buying.
Predictions OF dividend action OF Bait
more ard Ohio are so far discredited
that that stock went backwards today.
and even Union Pacific, which has been
advanced by much more aggressive man
agsment, fell back almost as much. the
latter losing IA net and the former rs.
The increase IN the dividend rate OF
Illinois Central apparently did not add 70
the credence given 10 the predictions OF
other dividend increases. YESTERDAY
violent rise OF 4 points II Pacific MAI
and the strength o. the Pacific railroad
stocks was more fully explained by to
days detailed reports Of the chart err g
OF steamships in the Pacific by the Uni
ted States government and IN the A.
lantic ~ the German government for
Use IN the Pacific 70 transport military
pect thus offered OF lucrative traffic for
the transcoutinentaI railroad lines was
Offset today by some other cousidera-
tons Of The results 10 accrue from war
IN China Wall Street has not given
much attention hitherto TO the check IN
export trade in textiles caused by the
unsettlement in China The uneasiaess
caused abroad BY reports II Boxer IN
roads upon Russian territory brought
sales Of securities in New York for Tor
etgu account and a reminder that forced
Liquidation abroad might throw consi er-
able burdens upon the New York stock
market The days shipments Of gold
were reflection Of the money needs Of
foreign markets, which are not unlikely
70 grow acute II the government exreu-
dirures for war should become large
Today's engagements amounting 70 r.
e10.001 were more than a million less
than anticipated A further sharp ad-
vance IN sterling exchange at Paris, a
reduction in the Bank OF EngIsnd's price
for American eagles and a slight decline
in the London rate Of discount. were al
Developments towards Iessening OF ths
attraction AZ Paris fer gold. An advaucs
in the Bank OF Engaud's rate OF dis
count tomorrow IS not felt 70 be so cer-
tain now as yesterday. The immediate
continuity Of the gold export m0veme n
IS thus felt 20 be in doubt. But II mil
Irary operations ara 70 be carried on IN
China the needs Of foreign governments
for capital will certainly converge upon
New York as This Is now The cheapest
money ma rlCet in the world. Put the IN
easin - IS caused by the conf 7ctUre As
10 tce effect upon the New York money
market when the interior demand for
moving crops is added to the foreign de-
mand. TIE money market n NV York
continues dull. but funds for time loans
for the longer periods are scarce Clos
ing prices OF stocks were as follows: