The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-02-04
VERY HEAVY DEALINGS.
St. paul's Showing Braces Up
the Early Market
LATER SLUMP IN SUGAR
Favorable Bank Statement
General Situation Improved.

New York, Feb. s-Speculation IN to-
days short session Of the stock mar
ket was swsyed by long ventures, en-
couraged by the statement of the st.
Paul railroad for the fourth week Of
January, and a disposition 10 take profits.
A level of prices had been early estab-
lished which indicated a handsome rise
on securities purchased earlier in the
week The tendency to realize was very
manifest after the publication of an ex-
ceptionally favorable bank statement.
Although the downward movement as
sumed some force near the end owing TO
violent break Of 3ss per cent in Sugar.
the earlier advance gained by the St.
Paul showing and that OF minor roads,
was not entirely cancelled. Interest was
revived TO a marked extent in a number
OF the Iron and Steel issues, National
steel moving up points and receding
fractionally. Tennessee Coal fell into
comparative dizziness and although II COW
cred range OF 8 points, terminated I'M
changed. Some comment was excited by
which was generally attributed to reports
OF encouraging earnings. Sugars plunge
downward was ascribed TO gossip con-
corning the trade war. Third Avenue
the market than OF late and moved in
somewhat narrow limits. A tendency 10
cover in some directions, coupled with
free selling in spots, caused "a very irreg-
ular close to the days business. Trans
actions were unusually heavy for a short
day, and the number of stocks dealt in
almost equaIled that of yesterday.
Whatever may have been the incubus
that rested on the stock market activity
in the last few weeks, II was quite ef-
fectually lifted during the present weeks
Dealings have averaged near half a mil
lion shares Of Stocks q day and on one
a nv - S-a.- 40
lion shares. The earlier repressive influ-
enceS was not the military situation in
South Africa, for the symptoms of In
difference TO that. which were indicated
when the London stock market was in q
semi-panic and the local market, though
still dull near to stagnation, was distinct
" strong. As for the money market out
than during the recent period OF neglect,
and the course Of the foreign exchange
market and of operations with the cub
treasury have given intlmations Of d re-
supply. BVs. whatever the cause of the
previous dizziness, the most Influential
factor in areusing the market from its
lethargy was unqpsstionably the action
and Wire e6hTpa3s. The setting ing aside aside
of a full years dividends on the common
stock at the rate of per cent, to be paid
quarterly, was not nore than had been
that had been disseninated In vain at.
tempts to awaken SPECULATIVE interest in
the stock. But the publication OF BAL
ance sheet certified 10 by chartered &C
countants. was. an answer 70 much Scep-
ticism that has assailed this country.
and from the same causes the whole
group of industrial stocks. Mystery has
been the main characteristic Of the in
dustrial corporations. The amount and
nature Of assets. of obligations, of earn
ings, of expenses-all these We're sealed
from the knowledge of the public and Of
the average operator in the Securities.
The statement published by the Steel and
Wire company did not answer all the
questions which investors would want to
know, but it served to dissipate some OF
the suspicious which have hung around
the Iron and Steel stocks. The resulting
rebound was corresponding1y resilient,
owing TO the extreme depression from
which the stocks have suffered. The
weeks events in the stock market may
be said to mark a distinct increase Of
conf1denceh from the Wall Street stand
point, in the continuance Of the pros
porous condition of the country.
Bonds have been well absorbed during
the week. but there has been some irreg-
ularity In price movements. United
States old As advanced 4, the 5s II and
new As q in the bid price.