The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-10-24
TURN FOR THE BETTER
Taken by Stocks and Hand
some Gains Achieved.
MONEY OUTLOOK IGNORED
Prospects in That Quarter in
No Wise Improved.
MONEY OUTLOOK IGNORED

New York, Oct 2s.-The market gave
convincing evidence today Of a substantial
growth OF bull sentiment in Wall street
The dealings took on more appearance
Of animation than at any time since the
violent downward course OF prices, when
the money situation first began to awaken
anxiety. Dealings were very wei distrib-
uIed, in that almost every department
of the securities market was represented
in the advance. Handsome gains in price
were achieved in many prominent stocks,
and in large number of cases the last
prices were the best In other cases
proft-taking made notable inroads upon
the days highest prices and some enort
was obvious in sustaining the market IN
the dealings. II was a noticeable feature
OF the market also that while a number
OF members of a distinctive group Of
stocks would show great strength and
activity, other members of the same
group, seemingly dependent on the same
influences would remain quieScent and
almost immovable. Thus, while Louisville
and the Norfolk stocks advanced vtsor-
ously, other conspicuous southern lines Of
railway were quite unaffected Again,
while the grangers also as a rule, were
strong and active, northwest scarcely
moved, and the Pacjfcs showed very
slight response to the prevailing strength.
Tire New York, Chicago and 81. Louis
stocks were subjected 70 rather palpable
manipulation, the first preferred rising
an extreme eight points and the second
preferred six points. New York Centr Il
was also vigorously bulied 10 a maximum
price OF i40 The high-priced specialtIes,
including Sugar. Tobacco and Peoples
Gas and the local traction stocks, were
all OF them quite aggressively strong. The
largest activity was in the Leather
stocks and the buying in them continued
until the close, the common crossing ls
and the preferred touching 81. This emu
meration includes the most conspicuous
instances of strength. There was at the
same time a notable backward movement
in Pullman, LaClede Gas and Anaconda.
which show net declines respectively OF
1-2, 5 and points American Mailing
and one or two Of the Iron and Steel
stocks also reacted and Glucose Sugar
preferred dropped 3 points. in spite OF
the strength Of the common stock. How
far the days strength was due TO COW
ering by short interests, which common
credence places at still larger proportions,
It would be difficult TO say. The puolic
had little to do with today's rise. But
professional operators OF a large caliber
took a conspicuous and confident part N
the market. The continued downward
couse OF sterling exchange affords some
relief from all apprehension Of gold ex-
ports. But no prospect is discernible Of
easier none yconditions. Call money to-
day was sitter at and per cent and
time loans for all periods again came
back TO per cent. The exchange con-
tjnues 10 move in favor Of the Interior
as against New York. Recent large ex-
penditures BY the government show a de-
olining tendency. and thus threaten re-
nswed decline on the New York banks in
taking up the government surplus To-
days movement Of stocks demonstrates
how completely the money outlook was
ignored. Closing prices Of stocks were as
follows: