The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-02-01
OUTSIDERS SWARM N
tuesdays Buyers Happy to
Accommodate Them.
SUDDEN BREAK IN SUGAR
UnsettIeS the Market-FaiIure
of TunStaIl & Co.
SUDDEN BREAK IN SUGAR

New York, Jan. S.-Toiay's stock mar
ket showed the stimulating effect Of yes
terday's sharp advances and increased
activity, in a largely sugmeu1ed outside
demand. The commission houses showed
more buying orders to execute this morn
ing than for many weeks past, and their
brokers made a lively opening on the
floor of the board room. The great ac-
tivity OF the market and the steadiness
of prices during the first hour made It
obvious that spectators who had bought
stocks yesterday were feeding the new
demand with a Judicious liberality, so as
to realize profits on yesterdays rise and
yet not disturb the new level of values.
The steady and confident absorption of
these offerings proved highly satisfactory
to the professional bulls, but before the
end of the first hour they commenced TO
bid up prices again and to take on new
lines Of stock. The market was good
deal unsettled By & sudden break OF 4
points in Sugar and the announcement OF
the failure of an important stock eX-
change house. The closing out OF the
accounts of this house under the rule of
the exchange caused a pause In the spec
ulative activity, though the shares were
veil absorbed and prices well sustained.
The best prices Of the day in the ra-
jority of the stocks were made after this
episode, the demand from the short IN
terest becoming eager and pressing Cor
The frightenedsoms of the stocks which
have been targets recently for the bear
operations. The frightened shorts wero
eager to cover, and It cannot be said that
the bull contingent retained the same
placid confidence during the latter part or
the day. They were disposed TO account
themselves of the forced demand from
the shorts to realize and prices yielded
quite materially during the last hour
The mixed sentiments thus manifested
were partly due to the fact, disclosed By
the days incidents, that an important
part Of yesterdays large buying was due
to a reckless and intemoerate attempt
to recoup bear losses and by plunging
into long account. It was evident That
operators short Of the general market
had made a prodigal outlay in Sugar.
which relaDsed weakly In face Of an ef-
fort to realize profits. There was very
heavy covering in evidence a. various
points in the list the industrial stocks
RECENTLY under pressure being most con-
eniouously affected. The very heavy
dealings in Brooklyn Transit and a part
Of the demand for Steel and Wire were
attributed to this cause There was
very large demand, however. fIr Steel
and Wire for the long account Tho sym
pathetic effect on other metal stocks was
less marked than yesterday. The sg-
eressive strength seemed TO impress for
efgn markets and invited some email buy
ing demand from London. Conspicuous
strength was displayed by the Changers.
the CoaIers and some OF the Southwest
ems. but the gains IN the railroad stocks
were much affected By the late realiz-
ing and were nearly ali reduced 20 frac-
tional limits. after. having extended wei
above a point. Third Avenue. end Pitts
burg. Cincinnati, Chicago and St Louis
continued heavy IN face % the general
tendency OF the market The money mar
ket continued very easy without effect
ing in any degree the enlarged stock
market activity, and sterling exchange
was distinctly Tesctionary-
Closing prices OF stocks were as fol-
lows.