The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-08-06
STOCKS AND BONDS.

New York, Aug. 5.-Speculation today
betrayed yielding tendency from the
opening till the close Of business. Re
sultant losses ran from to points for
the stocks most actively dealt In and in
cluded leading members OF all principal
groups. Occasional rallies were unavsiI-
ing in checking the steady stream Of
liquidation, and the professionals utilized
every temporary recovery to put out al
diuonal short lines Of stocks. Western
and Pacific stocks bore the brunt OF the
selling in the railroad quarter, while
United States Steel and Sugar were in
the van in the downward movement OF
the speclalties. The failure 10 effect a
settlement Of the steel strike on Saturday
prepared operators for a resumption OF
liquidation in the United States Steel Is
sues at the opening Of business today.
First sales OF the common were 1900
about measured the low point until well
in the afternoon, when it sagged to 20.
intermediate transactions were on q mar
row fractional range but the fact that
the stock was well backed up around 20
did not exert any strength on the general
market The closing price was the lowest
Of hte day and indicated net loss of 81
points, as compared with Saturdays
close. The preferred stock suffered an
extreme loss of 31s and ended points of.
The speculation Of the day hinged on
the developments IN the strike situation
and the Street was inclined 10 view the
failure to reach an agreement as fore
shadOwing a highly sensitive market for
the stock for a while. Other metal prop
critics scored marked sympathetic losses,
Tennessee Coal dipping 81 and American
Car and Foundry preferred 4 points.
Selling by the west continued in spite OF
reports Of rains in various sections OF the
corn belt, and the publication OF q large
number of very satisfactory increases IN
railroad earnings for the fourth week in
July. Sugar was a prominent feature all
day and dropped 50 to 1908 on sales by
the professionals, who argued that the
forthcoming opposition would make large
inroads on its earning capacity. But lit
tie news was circulated to account for the
acute weakness Of many stocks and the
continuous selling was attributed IN part
to liquidation by holders who have be-
come tired out by the recent steady drop
of prices. A holiday at London deprived
the market OF its usual information as to
the attitude Of the foreign Spectators to-
wards the developments over Saturday.
The large expansion in the loan item in
bank statement was comment
ed. The increase is believed 10 be due 10
various corporation nnanciering now in
progress. Money rates were easy an day
and the sub-treasury paid out million
dollars, on gold receipts at Pacific coast
points As the session drew TO q close the
pressure afainst the stock market in
cres sed and the lowest prices of the day
were made in the final dealings. Reports
were current that United States Steel
common and preferred were TO be held at
50 and %. respectively. but the preferred
broke to S95s. The immense
dealings in the stocks were made within
a range OF a point comparing the open
ing and lowest prices Of the day. Many
railroad stocks covered range Of from
. TO points in the same period.
Railroad bonds were fairly active. but
weak in sympathy with stocks Total
sales. par value. 8 25o,0oo. United States
bonds were all unchanged on the last
call