The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-20
ADVANCE Is KEPT Up
Stocks Strong and Active
Almost the Session Through.
BUYING ORDERS COME IN
Weeks Upward Movement 10
Stocks Reviewed.

New York, Aug. 1s.-The stock market
was strong and active again today after
brief period Of hesitation and reaction
after the publication of the bank state
ment, and buyin orders in q few con-
spicuous stocks lifted them to the top
level OF the day. There was some real
king at other points under cover OF this
bidding up of prices end q few weak
spots made the market rather irregular
At the close Yesterdays vigorous up
ward movement attracted quite . large
volume OF buying orders to the commis-
sion houses and the tone OF the market
was thus strong from the opening. The
weekly reports OF the increased earnings
Of practically all the railroads report
ing helped on the upward movement
The organized buying in Louisville ana
Tennessee Coal continued In evidence and
Central Pacific was bid up. Southern
Pacific, in spite Of her large dealings
was held by proft-taxing and shows only
q moderate net gain in the day. Louis
VILE rose an extreme els, and Tennes-
see Coal shows q net gain OF 3 H. TAX
ings Of st. Paul were on a very large
scale and were accompanied by rumors
to declare an extra dividend on the
stock. Other stocks notably gaining were
Norfolk and Western. common and pre-
ferred, the common gaining 1-2. Pacific
coast common and second preferred rose
2 1-2 points each. Hooking velley prefer
red. merican Cotton Oil, National Steel
preferred, Steel and Wire preferred and
a few other stocks show gains OF point
or over On the other hand, Sugar, Brook
Ign Transit, the Tobacco stocks and some
of the steel and iron stocks were under
some pressure, and losses are shown
here and there in the railroad list, In
stocks which are only lightly dealt In.
The bank statement was rather puzzling
in that the deposits were not Increased.
But the smallness of the changes left 1T
tie ground for an exchange.
Southern Pacific collateral rs, when IS
sued, were taken in large amounts again
at an advance Of per cent.
Speculative sentiment has been IN q
good deal OF hurly-burly all the week
very wide movements of prices in con-
trary directions Industrial stocks as
rule are lower, the exceptions being the
Tobacco stocks. Some very striking gains
are shown in individual railroad stocks
but the changes in the majority Of these
stocks were surprisingly small under the
bidding today, and the frulous speculat-
i've contest which has been waged from
time to time. So far as an effort to cause
- general reduction in prices Is consid-
cred the bears have suffered a total
rout, and have shown symptoms OF ex"
haustion and disposition to cover short
contracts as the week promised. A marx
ed sentimental effect was produced early
In the week by q published statement
from a shock operator noted for his bold
lress and many successes that he persist
ed in his belief that prices were too high
The favorable bank statement Of Satur-
day did not awaken any general demand
for securities. There was a watchful
anticipation Of a bear raid. which came
on Tuesday with fierce onslaught upon
Brooklyn Transit and American Steel and
Wire. On Wednesday the battle was
continued and shifted TO Sugar, Tennes-
see Coal and the Tobacco stocks, where
signs of realizing sales, after the large
gain in those stocks, made them vulnera-
BILE. Only a slight effect was produced
on the standard railroad stocks and indi-
vidual stocks In that department contin-
ued to show striking gains. ute num-
Der of obscure stocks were brought for
ward and the price run up rapidly on spe-
cial favorable conditions OF the proper
ties. Powerful pool operations also came
into evidence. The organized buying Of
Southern and Central Pacific and Louis
vile and Nashville were particularly not
able The Southern railways generally
sympathized with the movement in Lou
isville and the recent notable strength
Of Tennessee Coal, which was accom-
panied by reports OF extraordinarily fav-
orable business conditions IN the south
ern part Of the country. The pressure
| from bear sources was largely removed
as the week progressed. Late in the
week the market broadened out very ma
| terially and began to SOW signs Of an out
side interest being attracted by the
| leadership Of the organized pools which
had felt a little bidding. The statement
ofearninZs In St Paul for the second
week In August dissipated some fears
that the heavy decline in the western
| grain movement was affecting earnings
on western railroads The easier condi-
lions in the London money market gave
promise that We might avail ourselves
Of our large foreign credits for use at
| home without upsetting foreign markets
which has been the result threatening
for some time past Returns OF the
| Bank Of Finland and OF Germany show
that the recent strenuous efforts Of those
institutions TO strengthen cher reserves
are meeting with success. though q some
| what drastic restriction OF credits and a
contraction OF note circulation has been
required in each case to do II. Can money
| has eased an additional fraction II New
York. under continued offerings from
| outside domestic ceRte-s. Increased conf
dence in the money outlook has been
the prime incentive In the advance in
/ stocks
Bonds have been less active. relatively.
than stocks. and price movements have
been irregular. The speculative Interests
are higher. United States new Fs cOu-
| pon have advanced So and nav "a. old
az and SIS IA 8e. cent IN The bid p-ice
Stocks closed today a. follows:
! Atchison -..----. ~ 50 2y ........- ia
do pfd 5000. 81 SO Ry. Dfd -. 81
/ Baltic 4 Ohio - - Tex 4 Pae ...~E !
I Can P1c 1900. 81 iCni1n Pse $500 ~
/ Cent Pac -. sessl d pf6 49,. -
E-hesa- q Ohio 1si4 Wheel a L. z. lss,
. Chit CT West. 81 do "a pfa -. 81.