The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-23
STOCKS AND BONDS.

New York. Nay 2---The stock market
fell still further into apathy today and
was only relieved from ssni-stsgnation =
the movement in the Erie stocks Consld-
ering the present indifference Of the spec
ulative public 10 the mar-et. the volume
OF the transactions II Erie must be &C
cepted as significant. The professional
traders, az a loss to secure even q frac-
tionaI profit on a turn IN the market
locked 70 the Erie crowd as the move
ment progressed and added their specu-
Iative operations 10 the other buying OF
the stock The opinion. however. gained
force on the exchange tnat the movement
marked a resumption Of operation Tor
the extension Of influence and control Of
existing railway systems.
The buying was attributed 70 the Wa
bash interests and there were sundry
circumstances which offered some cor
roboration Statements were published
this morning to the effect that controI-
ing interest had been secured IN Lacka-
wanna IN order 10 afford an outlet 70 the
seaboard for lie Wabash and the Gould
Southwestern system This evidently rep
resented an effort to account for the re-
cent strength OF Wabash and its south
pointment over the confederation OF
dividend on Missouri -raciic- Il has been
stated with emphasis for several days
past that the buying Of Toledo, s. Louis
and Wstern stocks was for Vanderbilt
account and II was claimed today that
control had passed It is 70 be consid-
cred that these roads run over closely re-
lated territory and the activity in their
stocks favors the presumption that the
problem OF their future relations and
control Is being worked out The strength
OF Chicago, Indianapolis and Louisville
and Of the Chicago Great Wstern stocks
may have had a bearing on the same
problem The strength OF the bituminOus
coal carrying roads was directly attrio-
utable 10 the declaration Of II per cent
on the common stock OF the Hooking Val
ley, the first in its history The Wheeling
and Leake Erie stocks, Norfolk and West
ern and Chesapeake and Ohio all moved
upward in sympathy The strength OF
the Reao-ngs was called in sympathy with
Erie in its character as an anthracite car
rier. but Erie was the only one OF the
group TO maintain its advance This
stock closed at the highest at a gain OF
q Some Of the individual blocks pur-
chased ran as high IS 500 shares. u
feature OF the day was a sale OF Northern
Pacific at II, compared with 1854 last
night. but the STOCK dropped back again
to $50 Al unpleasant impression was
produced by a suggestion that the au-
thorities of the london stock exchange
would rescind the suspension OF rules Tor
buying in OF Norcnern Pacific stock
against the shorts. AT the last settle
rnent It will be remembered. the difficulty
on this account was adjusted by allowing
the shorts 70 carry over ar a fixed price.
But this LEFT their contracts stil uncov-
cred and the buying IN OF shorts for the
next settlement, which occurs next week.
would be the occasion for renewed IN
easfness. This suggestion and the an
nouncement Of $4,000 exported gold had
a part IN the early heaviness OF the mar
ket. The fact that there were no addi-
tionzl gold engagements, contrary to ex-
pectation. may have had some influence
in the later hardening OF prices but the
vigorous advance IN Erie was the main
factor. number Of minor Industrial
stocks were strong on very paipable man
ipulation. Des Moines and Fort Dodge
was lifted u and Wisconsin Central
stocks and ~ respectively Tor the com
mon and preferred In the general list
changes are small and somewhat mixed.
The bond market was not very active
but showed some strength \ otal sales.
par value. sa450000. United States new IS
declined 4 per cent On last can.
Closing prices OF stocks were as fol-
lows.