The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-15
Trading FALLS AWAY.
Cautious Spirit SEXES the
Street All at Once.
TUESDAYS FALL CHECKED
Gut No Wild Buying--FearS of
a Money Squeeze.

New York Nov 4.-The striking fact
about today's stock market was the de-
creased volume Of trading. Yesterdays
reaction was checked and quite an i'm
posing show of strength was made ar
forwards, but there was no renewal Of
the inordinate buying demand watch car
ried prices I'D with rush all through
last week The market. in fact. dropped
back into an affair Of ordinary impo L
ance, business continuing on large
scale compared with the normal, buJ me
movement Of prices obviously depend ng
on artificial stimulents Yesterdays
sharp decline induced some selling orders
from outsider sources this morning. but
the powerful support b. the ball pools
who are stil operating for an advance
checked the decline and secured control
OF the market Immediately. There was
some small buying for London account,
but It was not potent factor in the
market. II is probable also that there
was some buying from speculative inter-
ests which have been watching FOR a re-
action ever since the election. The buy
ing fell off as prices rose above yester-
days level. The most effective move
ments of the day were in Pennsylvania
and in Northern Pacific. There were
vague rumOrs adOat of further deals by
the Pennsylvania company OF the same
character as the series Of requirements
Of stock in other companies earlier IN
the year The accompanying strength
of Baltimore and Ohio, Norfolk and
Western and some of the coaiers was
intended 10 give color to these rumoTs,
but no authoritative confirmation was
Forthcoming. and the stock Of Pennsyl-
The buying of Northern Pacific, both
common and preferred. seemed Of a more
substantial character The statement Of
the condition OF the company issued by
the trustees in disso wing The voting II st
and the desira bilty Of additional hold
ings for centralized control following The
dissolution Of the trust, offered plausible
motives for the buying. The movement
in the local Traction stocks and IN Gen
eraI Electric grew out Of the statements
in the annual report Of the sAnhattan
Elevated company as TO the progress be-
ing made toward electrical equipment
and the friendly cooperation Of the
Metropolitan Street Railway company.
The advances extended an the way from
Ia In Pennsylvania 70 ~ IN General
Electric. These stocks about measure
the dimensions Of the upward movement
gains elsewhere being for the most part
in sympathy. Consequently when heavy
realizing developed IN Northern Pacific
and Pennsylvania, which practically
wiped out their earlier gains and IN
Manhattan, the whole market turned
weak again and fell hack q an sverare
level about as low as that Of the morn 5
ing. There was q final rally but u was
lacking in sympathy and was not well
maintained the market closing irregu-
Jar Pacific mail. I4nseed or preferred .
and one or two 81 the Steel stocks we're
actively rsctonary. Cai money zot uo
to per cent again and he time money
market continues firm and rather active
Approximations Of mogey squeeze are
an influence En- ire more cautious q d.
tude n the speculation. bur the fact that
rho pubEc demand Tor sto ks has evt-
IDENTIFY been slated FOR the tfra beinz iv
this preponderant fact % the soeculs-
tfo1. Closing prices u SOCKS were as