The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-09
SLOWS DOWN 4 BIT
Conservatives Get Control of
the Stock Market.
.FIRMNESS STILL OBTAINS
Holders Loath to Let Go Under
the Highest.

New York, Nov. s.-The stock market
showed the efect Of some unsettlement
OF yesterdays buoyant conviction OF
SPECTATORS and the growth OF an appre-
hension that the rise in prices at the
pace set yesterday might ind nearly
elimination. ne more conservative ele-
ment made their influence felt from the
opening and at one time during the day
brought the advance fairly t ca standsdu.
The frmness Of the undertone Of the
market at that time was very striking
and it was shown quite conclusively that
the large holders of stock were not par
ticularly nervous over seeing the rise in
prices checked Even tohse who are will
ing and anxious to sell out on an up
ward tide showed a determine toion to
hold at any lowe rlevel A very buoy
ant tendency then developed in the in
dustrial and speculative departments OF
the list. The localized character Of this
strength, with the absence OF any special
news TO account for it, gave ground for
ton was aiding it The success which ac-
companied the manipulation invited re-
newed speculation in that quarter by
outsiders and at the same time served
as a powerful sustaining influence for
the rest Of the market. Under cover OF
this support, proit-taking went on on a
very heavy scale. Except for sudden adj
vances in some Of the usually inactive
railroad stocks, the railroa dist ives dis
tinctly heavy throughout the day Penn
sylvania was marked up at one time to
49, but It held there only momentaIily.
The price remained above last nights
level but was unable to get back to the
top. The Pacific and Southwesterns as
vel as the stocks of railroads affiliated
with Pennsylvania which were so con-
spicuOus in yesterdays upward movement
all suffered from realizing. In Missouri
Pacific. the net decline at the lowest was
a point and in Northern Pacific the ex-
IRENE decline was / Is On the other
hand the mercuriaI specalties, which are
always fagorites with spectators, rose
buoyanuy on enormous deassss. one
or two Of the mhad been below last night
early IN the day, notably sugar. which
broke I is at the opening. Ihelate up
ward movement carried sugar, People
gas Manhattan, Brooklyn Transit Met
ropolitan Street Railway. Pacific Nail
and American tobacco up from 81 10
nearly six points Yesterdays enormous
buying Of Northern Pacific was explained
by today's declaration Of the extra divi-
dend Of one per cent on the common
stock. The commission Of this dividend In
August, when the regular semi-annual
dividend OF one per cent was declared.
was considered q very ominous sign of
the prospect Of cUrtailed earnings for rail
roads Today action is accepted as
showing restored confidence in the main
tenauce OF the earning power railroads.
nut it did not save the stock from a
sharp reaction on proft-taking- The steel
stocks wa sirregular, Steel and Wire and
Pressed Steel Car showing reactions.
while other members Of the group were
strong. Money continued I'm abundant
supply and sterling exchange rose further
with the demand for payments for the
enormous sales OF stock for London ac-
cunts Closing prices Of stocks were as
follows: