The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-11-17
DNHND FOR STOCKS
Steady, Fairly Uniform, and
Persistent
LATE SELLING FOR PROFIT
Not Sufficient to Check the
AIl-Day Advance.
LATE SELLING FOR PROFIT

New York, Nov. 1s.-AIthough today's
business in stocks did not recover to the
fun measure of last week in point OF
volume. the tone of the trading and the
showing OF strength were the most i'm
posing and substantial that have been
made since the election. The feverish
and sensational movement in isolated
stocks and the indiscriminate rush to
buy in a lump were not shown today.
Instead there was a steady and persist
ent absorption Of stocks OF . the best
character with legitimate speculative
prospects OF increased earning power, or
increased security by re4son of added
earnings for junior securities. In the
early dealings the speculation showed a
disposition to look for leadership. and
powerful leaders were at hand 10 inau-
gurate inviting advances in prominent
stocks in almost every distinctive group
on the exchange. The absence Of real
izing pressure, as the advances were
easily made, encouraged the growth OF
the demand and strength was dissent
mated all through the list. The eastern
Trunk lines and the Coalers were rather
conspicuous exceptions, and were not
largely traded in nor widely moved. but
there was no positive weakness manifest
ed even there. There was no important
exception to the upward course Of prices.
and among the stocks Of railroads all
through the south and west including
the trans-cOntinental lines, the strength
was astonishingly uniform There was
scarcely a railroad stock traded in within
those limits that did not gain at least
a point Not a few rose 2 points or
rr~a4fn nd rsra-
ferred gained respectively Sss and 81
The soft coal roads made a good show
ing OF strength The preferred Stocks
of reorganized railroads were evidently
the favorites in the speculation, from
the way one after the other Of them was
/ brought forward into the trading. Those
with prospect Of increased dividends and
those already receiving their full dividend
rights seemed to be IN equal favor The
Iron and Steel stocks were notably
strong, and in Colorado Fuel the ga 4
was Az, in Tennessee Coal ga, and in
Hoop preferred 332. Others of the group
gained 2 points or upwards The local
traction stocks and the high-priced in
dustrials were strong, but were not con-
spicuous. General Electric got up an
other 6i5 points, Consolidated Gas as
much. Brooklyn Union Gas ~. while
New York Air Brake made one % It's
Characteristic sky-rocket flashes of %
points, relapsing half that amount. The
growing strength OF the market was evi-
IDENTIFY due TO the determined buying OF
the class which held aloof from the ex-
cited trading after election, confident
that q reaction must come which would
leave the market healthier even though
at higher prices. A number OF favora-
bic circumstances also convergcd in the
days news. Advance sheets Of the trade
reviews for the week expressed so rose
ate a view Of the outlook for general
trade as to stimulate speculative senti-
ment quite notably. Forecasts of the
bank statement were accepted with re-
serve, owing to the complications which
have confused the significance of recent
statements, but gain In cash reserve
is confidently looked for, and the cont. n
ued tendency towards lower rates for
money. which made the maximum rate
today for cali loans per cent, falling
in the late dealings to 31z per cent, re-
hevad all apprehension over the money
outlook. Profits on the days advances
were attractive enough 70 induce some
selling toward the close, but the effect
upon prices was slight and the closing
was active and steady, at the following
prices;