The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-08-07
Stocks and Bonds.

New York, Aug 6.-The early deain gs
in the stock market showed q survival
Of last weeks strength bur il gave way
in face Of the DAYS developments. and
the market yielded whatever gains had
been established. The final prices. mea )
ured IN comparison with the high level
of the day, show some considerable
losses and are the general RUE. The
early movement was especially notable
in the Pacifics, Northern Pacific taking
The lead on the theory that its price was
not commensurate with he level Of
Union Pacific and Missouri Pacific. IN
ion Pacific also continued firm. Read
ing first preferred was taken in quite
large amounts n the supp 5siti0n THAI
the dividend rate would De increased az
today's meeting. The stock fell back IL
when the declaration OF the same rate
Ct dividend as the last was announced
Sugar weakened on the report OF the
shading Of several grades Of soft sugar
which was taken to indicate ( renewal
of competition in the trade. The more
cheerful feeling regarding the iron and
steel stocks, which has been in evidence
for some time past, lifted prices in that
group. Colorado Fuei was conspicuous
The preferred stock was bid Up from 12)
to 125, at watch price 100 shares changed
hands. The bid price was then further
advanced TO 12713. without bringing out
stock. This stock Is cumulative and IS
entitled to % per cent IN bank dividends
The movement Is supposed to fore
shadow the payment Of an instal.ment
Of the arrearage Of dividend. The steel
group weakened later IN the DAY. The
cfrcuustautaI accounts from Pittsbur-
OF extensions by the Carnegie company
looking 2gto competition with some OF
the new combinations affected the group,
especially Federal Steel. ard S eel AMI
Wire. The more serious phase developed
in the Chinese situation had som effect
on the market although the London ex-
change was closed ard the inhuence Of
the news there could not we'll be meas
JrTed. Preparations for exports Of gold
on Wednesday were reported. though no
definite announcement was made OF en-
gagements. Sterling exchange rose an
additional fraction, but still falls short
d shade OF what has been regarded 2
the export point II London. The sub
scrip,ious n New York n the new issue
Of British exchequer bonds re generally
regarded az the immediate cause OF the
outward movement. L IS evident that
these subscriptions would not necessarirv
deTanI an outward movement q gold.
as the country's very largo credits
abroad would De able TO cover the sub
-c,lzt-0rS, nut NJ ursent reed Of the
London money market for gold have led
g some special provision that IRE under
writing syndicate should provide that
metal n payment Of the bonds. There
is g large demand for the bonds, as 4
matter q course. IN view Of The fact
that American railroad bonds Of high
grade are finding thar way home BY
every steamer. and foreign railroads and
Industrial securities are not n favor
with American capital. owing 70 the de-
c-iui1g tendency OF earnings abroad
o7ini7n here as 20 the effect on the
money market has crysta lied into a
conviction tha- no severe strain need re-
suit The feasibility q any large spec
Native movement IN view % the coming
demands on the money market Is much
doubted Closing prices of stocks were
as follows.