The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-10-06
Stocks and Bonds.

New York Oct b.-The stock market
continued to show the effects of profess
sional operations for the advance today
New points Of strength developed under
/ the shifting operations of the bull party
and the sustaining influence thus afforded
was taken advantage OF to realize in
/ stocks which have already had their ad-
vance. Distinction was thus made even
in stocks of the same group, as, for in
stance, which have had their notable ad-
| vance, hung back while other members of
the group were pushed forward! Even
Tennessee Coal after an opening jump of
| two points under the stimulus of the sur
prised short covering, dragged behind the
| others. 1t was pulled up in sympathy
with the general rise, but closed with
small net loss. The buying Of Steel and
Wire was the most conspicuous and lifted
/ the stock at one time Ia Directors of
the company were quoted as expressing
the belief that persons who sold out last
spring when the radical cut was made in
prices of the product are trying to buy
back their stocks. A number of the steel
stocks saved a net gain of over a point.
In the railroad list there was the same
disposition manifest to take UP the new
stocks for the advance and these were
selected for which the borrowing demand
indicates that there has been a large
short interest. Baltimore and Ohio,
Northern Pacihs, Missouri Pacific and
Burlington are in this class. There was
conspicuous buying of Pennsylvania and
rumOrs were revived. such as were heard
when the vast proportions of the year s
earnings first began to be understood, Of
an increase in the dividend rate. Gossip
on the stock exchange attributed the buy
ing to the same interests which were ac-
tive in the previous movement. Some
strength was shown by Sugar. Peoples
Gas and Brooklyn Transit, in all Of which
dealings were large, but the tone was
feverish and irregular. The market
closed rather heavy and at substantial
reactions from the best. The preliminary
estimates of the weekly cash changes
were rather disappointing to those who
have figured on heavy offsets to the
forces towards depletion of the money
supply. The sub-treasury operations for
the week have taken from the banks ST.
62S. 900, so that the payment OF govern |
ment interest and bond premiums and re- !
demptions and the payment OF drafts on |
gold at Pacific points have been Offset !
by that excess on account Of regular gov /
eminent collections and deposits for !
transfer by telegraph to points in the in I
terror. The last named item is cons!d- /
erably in excess Of that of last week and, 4
coupled with the banks shipments by eX- /
press, show the currency movement 10 .
the interior to be well maintained. The /
net loss to the banks in cash Is expected I
TO be nearly s. 10000 The large payment i
of gold by the sub-treasury on last Fri
day is expected to figure partly in this
weeks statement under the system OF
computation by daily averages. But even
with this allowance, il will be seen that
the inread upon the surplus promises TO
be about as large as last week unless re-
serve requirements have been further re-
duced by lean contraction. Of which there
has been no evidence. Today's money
market continued firm and sterling eX-
change reacted while discounts were
easier in oLndon-
The, bond market continues irregular on
q small volume Of dealings. Total sales
par value sl.sOo.oo9. United tSates bonds
unchanged in the bid price.