The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-07-08
STOCKS AND BONDS.

New York. July There was more ap-
pearanee OF speculative interest in today
stock market The resistance OF the mar
! ket in the face Of dullress seemed 10 en-
| courage Al attempt 10 put up prices.
| There was 10 news 10 account for TIE
point rise in St Paul and Missouri Pa
cific On professional operations.
Despite this lot very striking demon
stration the market was but a coloriess az
fair up 10 the last hour and the volume
Of dealings showed no appreciable i'm
provemenI over that OF yesterday. There
was some indication OF a speculative con-
test in the last hour in which neither side
gave signs OF any great strength The
market had begun 10 sag OF from mani
ton but had stirened again when a heavy
stream OF United States steel stocks be-
gan 10 pour unon the market The com
mon was carried q point under last night
the preferred 81 and the second mortgage
bonds suffered 70 less extent Nothing
was known 70 the public al the tine OF the
showing for the quarter IS 10 earnings
but the assembling OF the directors Of the
corporation 10 consider the report caused
strong conviction in the board room that
the tape vas giving an accurate forecast
OF its character
The fear that an uufavoTable showing
Of earnings was forthcoming discouraged
the speculative sentiment and prices gave
way throughout The closing was IN con
sequence dull and easy. The early firm
ness was due. As much as anything 10 the
fact that yesterdays gold experts failed
70 bring and selling pressure on the mar
ket- The shipment Of gold from Austria
liza for San Francisco and the beginning
OF the inflow Of the kloEdike product
counteracted the influence Of the oUtgo 70
Europe. The export Of gold. however.
arouses slight misgivings while the de-
mand for money FOR immediate use is 50
light II r considered probable that any
rise in the money rate would check The
gold outgO but in the present condition
further shipments would not cause sur
prise Satisfaction Is felt in al depart
ments OF the financial world az the letting
out OF the imitation IN the cotton market
which went q step further today But II
Is not expected that the curtaiIed demand
for cotton viii revive n Any degree until
conditions in that market become more
placid The weekly cotton report vas
distinctly favorable and was so far a
help 70 stocks. The news OF the corn crop
also was highly favorable. bat the rise
in the price Of corn detracted from its in
fueuce
The news Of the wheat crop was not
considered 50 resssuring The monthly
report agricultural department due on
Friday is awaited fer clearer light con-
ditions Of the cereal crop. \ break OF
? points liz standard rope and Irvine SKIS
was due 70 fears that the interest would
not be paid. This with q break Of IS n
United States cast iron pipe and Of less
amounts in some other minor industTials
and the weakness OF international mercan-
tile stocks on the curb were unsettling
influences or the speculation Not much
= attention was paid 20 the late rise IN call
loans Of per cent. although the outward
IT ovement OF gold and a significant drop
in New York exchange al Chicago 70
l. cents discount may indicate further de-
hands upon New York banking reserves.
The bond market was irregular. A fes-
ture Is the sagging tendency Of some Of
the high grade issues Total sales, par
value $4,000
United States bonds we're all unchanged
on the last call