The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-07-13
strength Is KEPT UP
Professional Operators Buy
on a Large Scale.
MISSOURI PACIFIC LEADS
Rumors of a Gould South
western Consolidation.


showed continued strength and buying By
Professional operators was on a large scale
There was a good demand from outsiders
through commission houses at the OPEN
ing. encouraged by the rise In prices yes
terday. and yesterdays professional buy
ers were free sellers to realize while this
lasted. The market then came to the
customary halt after such q process be-
fore taking up an advance. An eager de-
mand developed for Missouri Pacific and
affected nearly all the Gould Southwestern
group in sympathy. Not only the stocks,
but all the securities Of all this group OF
railroads were affected. Missouri Pacific
he'd the leadership of the market through
out the day and made a late advance TO
an extreme rise Of 2 points. The motive
OF this buying was the Wall Street rumor
Of plans for merging the various railroad
properties In the Southwest In which the
Goulds are interested. Good buying set
in early for the Changers. Paeifics and
tchison preferred and after midday New
York Central was suddenly pushed up an
extreme 2 3-s. Large buying of Penasyl-
vania at an advance Of IA seemed to be
associated with the New York Central
movement, but an attempt was made TO
connect the latter with the Union Pacific
and Northwestern by manipulation the
price Of those two stocks. AL OF the
Northwestern's gain was subsequently
lost. The manner In which the buying
demand progressed through the railroad
Isl, together with the upward tendency
IN Suger, prompted the professionals to
attempt q movement 4: the industrial
stocks, Leather preferred, National SIeel.
Tin Plate, Federal Steel aad u sne-af Eiec-
trio were bid up between / and points
and the New York Air Brake made a
characteristic upward dash OF nineteen
points. Mexican Central rose quite con-
spicuously 21-2 per cent under the eenii.
mental influence of the opening in New
York Of subscriptions for the new Mexi-
can re-funding loan. Sugar. Manhattan
and Brooklyn transit dropped and many
gains in the industriais were practically
Wiped out. Prices OF the railroads Gag
ged considerably from the top and the
close was decided heavy. net gains being
only partly retained The money market
was easier today and confidence Is felt
that the supply will become stiIl more
abundant at very early date. Several
large loans for the purpose IL new in
dustrial fiotations are now released aud
the banks are gaining money from the
sub-treasury. The bull traders are talk
ing of q very favorable bank statement
on next Saturday, although the per cent
rate for call loans which held for the
greater part of today does not indicate
a plethoric condition as yet. The New
York market received some support today
from London in spite OF the continued
heavIness there in other departments,
but a sharp recovery in British consols
and French rentse. late in the day. the
fall In the price Of gold in London and the
advance in sterling exchange rates in
Paris and Berlin today, indicate a relax
alton OF the money market pressure in
London.
Total sales of stocks today amountad
TO 643, 80 shares, including: American Steel
11.000; American Sugar 2s.1Oo; Anaconda
3.40O; Atchinson 5000; do. do preferred
$4,000; Brooklyn Transit $500; BuTling-
ton 16. 700: Continental Tobacco 5000; Fed
eral Steel 1900: Louisville and Nashville
1s 100: Manhattan 2O.4OO; Northern Pacific
II, 400; Peoples Gas 1900; Reading First
preferred. 600; Rock Island - 600; St. Paul
% 400; Southern Railway preferred 1900:
Union Pacific 1920: do. do. preferred IL
0o0; Wabash 5000: American Tin Plates a.
100; American Tibacco 1900; Central Pa
ctfic $500; Chicago Great Western 4ao9:
Denver and Rio Grande 1000: General
Electric 32OO; Lake Erie and Western B.
60: do. preferred $3.50; Mexican Central
s. 400; II. K. ct. preferred 5000; Missouri
Pacific 1890; New York Central IL 30;
$500; st. I.ouIsb and South |
western preferred 1900; Tennessee Coal
and Iron 1900.