The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-09-04
ADVANCE IS HALTED
Volume of Dealing in Wall
Street Was Light.
DEARTH OF INTEREST
Bank of England Rates In1u-
ence the Market.

New York, Sept. 3.-Today's volume OF
dealings was not greatly below those OF
yesterday. but the dearth OF interest in
the market and abe dead level OF dull
ness were once more pronounced than
at any time heretofore Yesterdays up
ward movement OF prices was pretty
promptly halted after the market got
started and there was quite a liberal
taking by yesterdays buyers. The de-
cline was not for extended and only few
OF the principal active stocks were de-
pressed as much as a point. Reading
was notably under pressure. the selling
being supposed TO be unloading of some
pool holdings taken on in anticipation
OF rise in the price as a result Of the
favorable annual showing by the CON-
pany. AS matter of fact the considera-
ton was generally given way TO the eff
feet of the discussion of the accumulation
of steam sizes Of coal followed by the
shutting down OF some OF the collieries
and some or the suggestions of a cur
tsilment Of production The principal
event of the day in the financial world
was the advance in the bank Of England
discountrate by full one per cent. from
8 10 per cent. This is one OF the Gus
tomary measures to oppose an outward
movement of gold The advance Is not
unusual in the fall months but is gen
orally DELAYED later than this. But the
gain upon the bank OF England gold sup
ply has become TO considerable as 70
suggest the interposing OF some obstacle.
Over 5000 ooo was taken from the bank
today and OF this $4,000 went 10 Ger
many. which is the principal source of
the drain The London market was de-
cidedly depressed in consequence of the
advance in the rate. the price of consols
falling lower than during the Boer war.
The depression reflected in New York
from that source. however. was slight.
Sales for London account were small
This may have been due 20 the fact that
New York is likely TO join in the demand
on London for Gold before long Our
foreign exchange market responded 10
the increased bank rate IN London, but
our money market was practically unaf-
fected. The heavy liquidation in the
cotton market was due to the complete
surprise at the condition Of the crop re
ported by the agricultural department
and this was naturally a favorable in
fuence upon stocks. The effect, how
ever. was scarcely perceptibIe. The con-
tinued frmness in the corn market at
tracted more notice and the slump in
Colorado fuel was the consequence OF
the passing OF the dividend on the pre-
ferred stock and the heavy requirements
for additional capital which are impend-
ing over the corporation. Metropolitan
street railway reflected the continual IN
favors BILE view OF the significance Of the
turning back by the underwriting syn
dictate managers OF their holdings of the
stock TO the dominating interests in the
property. The market became pre- cite
ally stagnant late in the day and closed
heavy about the low level
The bond market was very dull and
irregular Total sales par value 8. o6o.00o
[. s. Twos advanced = and the new
fours IA per cent on the last call.
Closing stock quotations were as fol-
lows: