The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-10-20
Stocks and Bonds.

New York, Oct 1s-There was a very
active market for all classes of stocks
today, in which the bull element early
secured the upper hand and maintained
it with growing success throughout the
day. The rise in prices was so con=id-
cradle as to invite free profit-taking dur
ing the closing tour of the market But
new stocks were picked out for an ad-
vance, with such good effect on the gem
eral list that it was able to ali ,orb a
very large amount of the offerings Re ore
any effect began TO be produced. Frees
ran off somewhat in the final dealings,
reducing extreme gains 10 q considerable
extent and carrying few stocks, includ-
ing some Of the leading industrials, be-
low last night The closing was thus
made irregular and very active. but the
average level OF prices was considerably
higher as result of the days trading.
The advance was contested during the
earlier part of the day but not as vigor-
ously as yesterday. No further effect was
produced than to check the advance in
some quarters without offering any
actual declines. The bear opposition ap-
peared to be withdrawn when the course
of prices turned clearly in favor of the
bulls and some of the interests which
were large sellers yesterday turned to
the buying side. A fact which could mot
escape notice was that yesterdays ru
mors of further plans of amalgama ton
of the Vanderbilt properties were heard
nothing of today and the concerted adj
vance in the group came to an end In
fact New York Central itself finished
the day with net loss, and the same
was true of other members of the group.
Lake Erie and Western stocks, however,
moved up in the early dealings and New
York. Chicago and st. Louis first pre-
ferred gained an additional points. 1t
was notable also that yesterdays upward
rush in the steel stocks was deslsted
from today and several of the group
ended with net losses the important eX-
ceptions being the American Hoop stocks
the Colorado Fuel stocks and National
Tube. Sugar and Peoples Gas We're
affected by realizing. This turning from
one point in the market to another is
chara cteristic feature of professional op-
Grafton and manipulative processes,
which clearly played a large part in to-
days market but 1t was equally clear
that the professional manipulation for
the rise had large success in attracting
outside buying. There is a class of pro-
fessional operators who have been con-
1dent for some time past that there was
a large waiting public which could be
induced TO buy stocks by any decided
puward movement of prices. Today S
market seemed to justify their conf
dence. With the exceptions above noted
the strength of the market was very
general and the trading was very broad
ly distributed. Special points of
strength were Atchison preferred and.
the Changers and Southwesterns gener-
ally, Northern Pacific, Southern Pacific
and Manhattan, with the other local
traction stocks following in sympathy
The news of the day had title to do W tn
the advance. ~.
The bond market was considerably
more active today, and there were some
large gains. Total sales, par value. ST.,
$4,000. United States new As advanced
a per cent on the last call.