The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-01-30
! IT'S NOT HURTING NE
Says Wall Street to London
in Her Trouble.
WIN B0ER; WIN BRI10N
Market Keeps the Even Stag
nation of Its Way.
WIN BOER; WIN BRI1ON

New York. Jan. 2s.-The New York stock
market continued to view with equa-
nimity the disturbance in the London
market on account of the misfortunes TO
the British military campaign in South
Africa. In spite of drop of a full point
in British consols in London and condi-
tons on the exchange there, which cables
to Wall Street describe as panicky, the
opening declines here in International
stocks did not exceed fractions. and there
was no pressure 10 sell. outside that for
foreign account The buying by the local
traders proved sufficient to absorb this
and to advance prices to Saturdays clos
ing level. The course of the market dur
ing the rest of the day was exceedingly
sluggish and the dealings were narrow
and professional. The Industrial special
ties continued to lead in point of activity.
Che speculation in Sugar showed some
strength, the stock raising an extreme
points on a demand from the shorts, who
covered on the announcement Of a further
advance in the price of refined sugar.
Part of the gain was lost There was
continued movement in the local trac-
ton group, but its compass was small on
account Oh the pduClly Oh news NSNStNP-
ments. The session Of the directors OF the
American Steel and Wire company SEEM
ed to be the ground for the strength in
the company's stocks, though no authen-
tic news was received regarding dividend
action before the close Other metal
stocks were firm in sympathy. Glucose
Sugar made show of strength on the
judicial decision against the constitution
atty of the Illinois antitrust law A drop
Of points in Denver and Rio Grande
preferred is unexplained by any news Of
the day. With the exception of these
special movements, the market continued
near the level of stagnation. Several in
cidents point TO the financial outlook as
the true ground Of hesitation in the spec
ulative world. Spectators do not forget
that it was the industrial and CONNER
cial activity OF the country (which en-
croached on the funds they had en-
barked in speculation in December, and
they are watching for the future fate of
activity of business to define itself, before
awaiting Themselves of the present ease
of money which, 1t is learned, may prove
ephemeral and illusory. Offerings Of mer-
camille paper at present are light, but
this is explained as being due to the
employment by large mercantile houses
Of the years profits as working capt.
tai. The sharp upward course or ster-
ling exchange today gives point to the
apprehension that gold will again go out
to help supply England's aneed for war
expenditures. An official Of the imperial
bank of Germany quoted today attributes
the ease IN the German market TO an
artificial maneuvet made to prepare the
market for municipal loans. and the same
authority asserts that Russia is to raise
a loan. The future contingency in the
money market thus foreshadowed may
help to explain the persistent Indifference
of spectators to the present abundance
of funds. Closing prices Of stocks were
as follows: