The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-09-11
MARKET IS UNEASY
Money Outlook Makes Stock
Market Shaky.
NEWS OF PRESIDENT
Offsets Bad Effect With Degree
of Success.

New York. SEPT lo.-Thsrs vas some
uneasiaess rejected II the stock mar
ket today over the money outlook. but It
was resisted with a degree OF success ara
was OFFSET BY other factors. the u,ost
notable and elective oc which vas the
gratifying news OF the continued in
provemeHt Of President Mckinley at Bus-
falo. The market was srtiaclal 20 a de-
gree. ovizs 10 the continued influence OF
the precautionary measures PIT IN force
after the attempted assassination % the
president Of Friday. They consisted o
tree buying On recsssiols. WIKI the sole
purpose OF stemul1s the tide q reacuon
and q the lending % money freely %
keep down the rate. While vigorous sup
porr was offered the market untu any
signs q reaction IL was true thst heavy
offerings 70 realize net any advance IN
prices The consequence was constantly
varying movement Up and down. which
gave the market al exceedingly irregular
appearance at all tines The closing WIS
heavy. and the extreme advances are
much c1rtaIIed and n some cases en-
tirely wiped cut
zOpirions dI1er widely as % the eIscts
which would fcw from the proposals 81
Secretary Case fer releasing government
funds 70 the money market x Is the
opinion that bankins interests VIII be
able 70 command q sufficient block q
government bonds 70 orer 10 the secre-
tary on terms which hs can accept 20
protect the money market from any real
crisis. But IL Is 70 be remembered that
the oTer for redemption cf government
bonds az price axsd near 90 the present
market vafge. when has been standing
since last April. has been responded O.
for some tire past WIKI only a drinhle
OF small offerings. OF inslSaifcauce on
the money market The other part 81 the
secretary-s offer. 20 increase government
deposits up 70 the par value o. the gov
errment bonds lefc with the treasury as
security. teuds e. increase the disposition
10 hold the bonds ard hos diminish the
offerings The increase % government de-
posi-s vlth the hsrks can only De ma1e
ont Of future rsceipts on account % lH-
ternaI revenue. which run rather Jess
than q million dollars a day altogether.
While a possible cTset IS thus provided
against any striaEeucy of money that
would eTsc- the commercial Transactions
or the country. there IS some szepVicLsra
il the stock uarke, whether the measure
wiz insure borrowers on can Who bod
stocks for speculation against the cali
ing OF loans and forcing q liquidation %
ray the loans There was a hariening
tendency OF sterling exchange today. also.
with the rather easier rates for money
here and the prospects % additional sup
plies. whlch carried the lntimatiou that 10
MIST De substantial need for money
which VIII bring gold from abroad Pay
ments on account % gold deposited ~
san Francisco and Seattle % the amount
a. S7ss SIS were made ~ the suo-treaslry
today. While $1,000 was deposited far
transfer % New ORLEANS. An early ru-
NOR og an extra dividend On So. Paul
this week and ilter one OF She settle
uent o. the steel strike were used W.rh
effect % support the mariSet- the stocks
most Immediately Affected leai'ng the adj
vance on each occasioz- IRE Faciecz
Aualganated COPPER and number ~
the junior Ns1lerl.it7 and minor railroad
stocks we're also advanced sharply.
Railroad bonds were only moderately
actlve and frn. Total sales. par ralue.
81 soo0 Uritsd States twcs ard Che
rev folrs advanced = PER cent On tie
iast call