The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-10-25
BUSY Day N STOCKS
Market Active and Weak at
Closing Time.
HUGE RAIL WAY ssSCHEMES
Real or Rumored are the
Days Features.

/ New York, Oct 24.-Today's broad and
active market and the wide fluctuations
in prices offered excellent opportunities
for speculation and all classes OF pro-
fessional operators were very busy all
day. The broadly defined movements
which dominated the action OF the whole
market were themselves under control
Of powerful speculative cliQues. and there
were Indications of cooperation between
the pools which were manipulating diff
ferent portions of tbe market. Following
this effective leadership and busiiy oc-
cupied bringing forward the less promi-
nent stocks in the list to conform In
prices to the changes in the leaders, was
a host of small traders and board room
operators, who were In and ouL OF the
market many times during the day. Inc
strictly commission house brokers Eao
their full share OF the days business, or
ders coming in large volume from vari-
Gus sources. The latter element onered
the effective medium for the success OF
the efforts OF the professionals. InAt
there was q very large selling or stoc Ks
during the day to- this outside element
became increasingly manifest as Inc day
progressed. When the very active ouy-
ing demand had been pretty wen satls-
fed and many of the professional tra--
ers had sold out and taken their pTonIs,
they took advantage of the soft co1dl-
Ton OF IUe MARKET 04C ~ nc A.-~
ings of stocks having passed 10 weaker
hands 70 put out short lines for turn:
The resulting decline IN prices increased
the pressure 70 realize, and the rarkee
closed active and weak at level mate
rally below the best, but with some
striking net gains nevertheless remain
ing The backbone OF the day market
consisted of the strength OF the iran
continental group Of railroads lying De-
yond the Missouri river. Many rumors
were ahoat this morning, calculated 70
stimulate the buying OF these stocks;
One story had II that Pacific Mail had
passed TO a Observation-Disclosures con-
troll as a step in tie formation OF
great through Transportation line rom
the tlantic seaooar 70 the coast OF As a
There were also rather neh'lous reports
of settlement of the longs go ng con-
troversy over rights in the Clearwater
territory in which theTet has been tenn
porary truce between the Northern "a
cific, Geat Northern and Union Paeihc-
lease of Northern Pacific by Great Brit
ain with 1 per cent dividend guarantee
on the Northern Pacific common STOCK
is an example of the character Of The
rumors which were heard. Northern Pa
cific and Great Northern themselves were
sold to realie on an enormous scale ana
the former stock, with the exception OF
a brief interval. was held below last
nights level all day, but the other mem /
bers of the group and Pacific Mall were
very buoyant during the early part Oh
the day. There was a very large spe u
lation also in Pennsylvania and il was
intimated by the vocfferous element /
among the buyers that the dividend rate /
is to be increased next month. The
strength from these stocks rGdiated +
through the general list with grea o
or less effect. Active buying of Sugar I
helped the rise in the speSialties- No /
official confirma ton was forthcoming or /
any of the days rumors. and repreS en- I
tatives of the Huntington estate distinct /
Iy discredited the allegations regarding |
a change of control in Pacific Mail. That
stock, after rising 31z. broke points.
Other leaders in the advance suffered 10 I
the extent OF / TO 1i.s points. OF more
benefits was the news Of he
cement of an additional $4,000 o. {
eign exchange with corn bills coming
largely into the market and the further /
decline in London money rates Just ~ /
the expectation that further gold imports /
are imminent The s. COZ 000 withdrawn
from the Bank of England today is not
unlikely to find its destination in New
York. Closing prices Of stocks were as