The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-07-28
PRICES UP FOR A TINE
Later Drifting Down, Leaving
Net Gains Small
SAVE BROOKLYN TRANSIT
Pekin Has q Slight influence
The Steel Meeting.

New York, July 27.-The room traders
succeeded in putting prices up for time
today, but they drifted downward again
toward the c,ose Of the day and left
only small net gains, except in Brooklyn
Transit This stock was decidedly the
leader of the speculation and was large
ly dealt in on the strength OF rumoTs
that the yearly statement, which IS yeI
to see print. Will show larger earnings
than has been anticipated. The stock
made an extreme rise of over points
under this stimulating influence and
helped the whole market. II relapsed q
point in the late reaction, when traders
were taking their profits on the days
rise. Sugar, which came next in point
OF activity, did not fare so we'll. II got
up at one time as much as rs on the
expectation that the firmness OF the raw
sugar market foresaadoWed an advance
in refined sugar. But the late react on
entirely wiped out the rise. The railroad
list continued extremely dull and mar
row. The sharp gains shown by a hand
full of stocks had little influence on the
rest OF the list, which hung slugsishly
back. Gains OF over a point were IS
tablished in half a dozen stocks at the
midday high level But none of these
was fully maintained and nothing more
than fractions remained at the close Of
the day. The strength Of Baltimore AMI
Ohio was apparently dua to covering by
shorts. Burlington was markell up on
assertions that the statement Of June
earnings would show better net results
than has been foretold. ST. Paul, Louis
vile, Union Pacific and Missouri Pacific
were the only railroad stocks shOWi &
any notable strength The Steel stocks
moved uncertainty and irareguiarly pend
ing announcements OF the agreement ar
rived at by the Chicago conference. The
local Traction stocks were strong IN
sympathy with Brooklyn Transit and
Consolidated Gas more than recover d
yesterdays decline. 50 far as general
conditions were an influence. toe market
was helped by the less Respondent views
regarding the fate of the ENJOYS in
Pekin held by foreign spectators. This
was largely a sentimental influence as
dealings here for foreign account were
Insignificant. No gold was engaged for
export tomorrow and, IN fact, demand
sterling fell off a fraction. But II reccv-
cred a fraction in Paris and the rate for
call loans declined in London. London
discounts were nrm and the Delief re-
mains general that further god Will go
out next week A favorable bank state
ment seems probable tomorrow, in con-
sequence of the continued inflow OF cur
rency from the interior. Estimates Of
the gains by the banks on this account
run up to nearly 100000. The gain on
sub-treasury operations is reduced to
trivial proportions, in spite Of the antici-
patton by the government Of the August
interest payment. The receipt at san
francisco today OF s2,500,0e0 in gold can
be made Immediately available T. The
New York banks by the system OF trans
fer allowed by the treasury depar inert
But 1t win not figure in this weeks bank
statement. 1t is thought probable that
loans may be further reduced by r.
payment of German obligations 10 this
market. Closing prices OF stocks were
as follows: