The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-03-23
H|YNGBY EVERYBODY
Railroads in Great Demand
in All Grades
CHANCE TO TAKE PROFITS
Is Not Neglected and the
Closing Is Easy.

New York, March 2-The railroad
stocks had their innings On the stock ex-
change today. The demand aor all grades
Of this class OF securities reached impOs-
ing proportions and the buying came
from all degrees OF investors and specu-
Iators. large and small The Individual
investor was n evidence as = buyer OF
fractional lots ali through the list and
some OF the heavy buying was attributed
10 the account Of banking interests and
insiders in the various properties. The
professional board room traders On the
floor Of the exchange have turned bulls.
70 a man, and the spectators OF larger
calibre and speculative pools made their
operations manifest in the volume OF the
transactions. Individual transactions TO
the extent Of 100 shares were so usual
as 10 attract little attention, while many
lots Of , go 70 $50 were recorded on the
tape Norfolk and Western and the
Atchison stocks took the most conspicu-
Gus place nrhe trading. but there were
impressive transactions al different times
during the day in Union Pacific, Balti-
more ana Ohio, Southern Pacific. Penn
sylvania, Northern Pacific. Chesapeake
and Ohio, and. late in the day. in South
ern Railway. The strength disclosed IN
yesterdays market precipitated today :
rush to buy. and it was made clear that
a very large element must have been
waiting and watching for some time for
r. -ge~ h. -I-a-
ing Of its Iethargy and getting ready 70
move. IN studying today-s market, II IS
worthy OF close attention thar the rush
10 buy was taken advantage Of 70 take
profits on a very large scale in stocks
which have recently enjoyed a consider
able advance under manipulation BY pro-
fessionaI operators and pools. Practically
ali Of the Industrial stocks. including the
local fractions AMI The Iron and Steel
stocks and also Sugar, were sold 10 take
profts under cover u the speculative
furore. But it was not on:y in the mer-
curial specialties that the process was
in evidence, but also in the railroad list
itself. Baltimore and Ohio and the Pa
cidc stocks showed its effects very dis
tinctIy Union Pacific was advanced
early and was held pretty steady Il The
advance all day. but il made notable
further progress upward and the other
stocks in this category showed positive
reaction. But the current OF the buying
demand was so deep and strong as To
carry the whole market practically IN ;
sweep. Commission houses reported
orders on a larger scale and London was
an eager buyer Of stocks here Tar beyond
the usual hour when transactions for
that account have ceased. The volume
Of buying for this a count was estimate
at from 5000 to 1890 shares, and was a
potent influence in the general strength
Of the market. London cables r ported
that part % the buying Of Americans
there was for Berlin account. A furry
in call money il the afternoon = s PEI
cent. was an admoniLory symptom,
prompting 70 the reflection that even the
relaxed conditions in the money ma ke1
might be 0verstrained again by head
long speculation \ drop in New York
exchange at Chicago 20 p cents discount
compared with : cents premium earlier
in the week pointed the same moral
Government bonds were also checked in
their downward course today, and ral--ei,
indicating that the process Of proat-taS-
ing there which has been factor IN re-
leasing funds 20 the money market. has
come TO a pause; and although the sub
treasury absorption Is cut almost in half
a. compared with last week. it stiu prom
isas 10 run Up close 10 the amount II
the surplus yet remaining with the banks
over the required > per cent Probably
a perception OF these facts. as well as
the violence OF the days advance,
prompted the general movement 70 take
profits in the late dealings, which re-
duced prices al larouad from the bes.
and made the closing easy. Closing pr.ces
~ srnrss re-e a fIl-ows: