The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-23
STOCKS Ard BONDS.

New York. July 22.-Todays stock mar
ket was not up to the recent level Of
activity. the total dealings falling con-
siderably below the million share mark.
This was practically the only effect ap-
parent from the doubts aroused by the
current outward movement Of gold. The
speculative forces recently at work con-
tinued operations on a large scale, al
though shifting the field Of their opera
tons on a large scale to new quarters.
The eastern railroad stocks led by the
New York Central were the features Of
the market, the eRading's stocks being
included in the movement. The buying
was by the brokers usually employed Of
late by the western contingent in It's
large operations. The ostensible basis of
the buying was the rumor of new and
comprehensive agreement among the rail-
read powers in the eastern territory,
including the Pennsylvania railroad, the
Vanderbilts and Mr. Morgan. With the
addition Of striking gains by a miscellane-
Gus group of stocks, the market made a
fair show of strength. The grain carri-
ers were inclined to heaviness early, ow-
ing to reports OF showers IN the western
states. but they stiffened up afterwards.
apparently under the influence of the vio-
lent rise in Rock Island, which advanced
more than points and then collapsed,
with a final recovery of about points
over last night. The strength of Amalga-
mated was attributed to the securing Of
an injunction against the working of a
disputed mine by a rival. A number of
other industrials rose strongly without
explanation. 1t was noticeable, however,
that there were neglected and heavy
stocks ali through the list. There is much
conjecture as to the limits likely to be
reached by the outward gold movement
Tenevative arrangements for the export
of another million dollars this week
were made today. The continued selling
of stocks here for London account IA
cilitated the arrangement. It had been
supposed that additional credits abroad
sufficient to prevent gold exports could
be easily procured. pending the fall ex-
PORTS of grain and cotton, and notwith-
standing the heavy foreign indebted
ness known to have been extended as a
result Of last year shortage in our grain
exports. The disappointment of these ex-
pectations seems TO be due to the forced
liquidation in London of speculative ac-
counts in South Africans, for which the
public demands is said to be disappoint-
ingly small Part of this liquidation
comes from Paris and is supplemented
bv. realizing on American securities which
are thrown upon the New York market
bv arbitrage sales. owing TO the advanc-
ing tendency of prices here. 1t is note
worthy that the sub-treasury here paid
out today upwords Of half million dol
lars of assay office checks on account of
Klondike gold received at eSattle and
San Francisco. thus affirding consider
able Offset 10 the Withdrawals of gold
for exports. The running deficit in the
government revenues continues to be dis
bursed into the money market, thus re-
neving bank reserves from all require
ments on that account. Some Of the con-
vertible bonds were active today, in sym
uathv with the movements of their rela-
tive stocks but the general market was
rather dull and irregular. Total sales,
par value. 2.SSoo0o.
United States refunding Is declined s.
old As registered do coupon Is and the
new IS d per cent on the last call.
foil