The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-07-11
WALL STREET STOCKS
General Weakness Prevailed
in Stock Market.
BUYERS BECOME UNEASY
Firmest Speculative Buyers
are Among Sellers.
BUYERS BECOME UNEASY

New York. July 1o.-with caH loan
rates yielding 70 lower figure It was
nevertheless apparent today that uneasi-
ness over the future OF the money mar
ket vas the principal cause Of the re-
newed weakness IN stocks Anxiety on
this point was somewhat relieved yester-
day BY the indications that July disburse-
ments we're beginning TO come again into
the market. but it was revived today b
the engagement for exports OF $50 90 in
gold Liquidation was in large volume
during the latter part Of the day and
seemed TO come from All quarters The
active selling by commission houses re-
fected the outside publics share n rne
movement The larger part Of the deal
ings and the most notable price move
ments were IN the same stocks a. Tor
several DAYS past notably ST Paul Rock
Island, Atchls0n. Union Pacldc, Missouri
Pacific and Louisville, but the list vas
very generally affected. the eastern TRUNK
ines sharing cutie fully IL the dag
weakness. Indications went 20 SHOW tl-t
speculative buyers OF the recent past and
even long tine holders. who refused %
Re shaken OFT even by the May panic,
were among the sellers. The CROWNS
conviction that there would be no SUM-
cient &c Sc Of money before the falL De-
rnand Tor moving the crops 10 inc-te %
active speculation was borne n upon
SPECTATORS who were holding large lo-s
In anticipation o a midsummer buying
movement. and they threw over stocks
n large volume under the conviction tl-1t
money conditions might 5e worse BEFORE
they are better again.
The gold export vas the most important
factor in causing this feeling The fact
that interior banks are already feeling
the demand for money from the agrl-
cultural ceuters is an indication that that
demand on New York Viii come unusual
" early this year. A possible source O.
relief was By imports OF gold from
abroad. and foreign money markets have
calculated upon supplying gold Tor suca
2. movement. An outward movement OF
gold after the July settlements abroad
and when exchange bills against future
shfore uts Of grain are already IN large
supply n the New York market. comes
as q shock. Probably the unsettled hnan-
cIaI conditions IN Germany explain the
movement, which must be special one
although the plans OF the AustrO-Hunga-
rian government 10 attract go.d Ior cur
rencv. purposes may have Ks part
The announcement Of the engagement
found the market well above last night
level. On a continuance Of yesterday re-
covery, but liquidation set in at once. and
was continued IN increasing volume untu
the close which was active and weak al
about the lowest The net declines IN
the market leaders reached such figures
az the following: Rock Island, &; =.
Paul. ga; Atchisoo, 5ss; Union Pacinc.
~: Missouri Pacific AZ; Kansas and
Texas preferred, ~: Iowa Central >.
Iowa Central preferred. II; Chicago ana
Eastern Illinois. s. In other prominent
active stocks, including some OF the
eastern trunk lines and leading special
ties. prices are between ~ ana points
lower on the day. The Steel stocks are
about 2 points lower. The uaoreken
drouth IN the corn belt and an eftort
10 discount the expected unfAvora0le
showing OF the government monthly crop
reDort were elements IN the weazn OF
the market, but were not sufficient 20 &C
count for the general weakness shown T.
The railroad bond market was fairy &C
tive al lower prices Total sales, par
yaIr1e. 8. oe5. 90. United States refuntils
twos declined 4 per cent on the last
call.