The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-10-12
STOCK MARKET ACTIVE
Great SpeCulations Centers in
IraaScontinental Stocks.
ST. PAUL TAKES LEAD
Raises s ga Points Oyer
thursday Nights.

New York. Oct u-Great speculative
E activity continued in the st0c,. market
( today but il was ceutered 70 a large ex-
/ tent in the transcontine1taI stock led by
/ St Paul which rose $. points over last
/ night n the late dealings and closed
point below the best The appearance Of
/ tia market suggested the days last spring
( dear to the memory C the professional
! Spectator. when the absorption q new
/ railroad system Of new t-aascontlne1taI
( combination vas rluored each successive
/ day and readily accepted II tia credulous
mood OF the speculative world. 'rhe ac-
tiv-ry OF today's market was largely due
I 70 the crop OF rumors revived BY yesrsr-
days various reports OF the proposed
plan for consolidating The c0ntrcs CT
Northern Pacific. Great Northern and
Burlington IN one proprietary company
As a matter OF fact the Official 5iSclaiul-
ers this morning OF the accracv OF the
published reports and the prompt relapse
il the prices OF Great Northern preferred
and Northern Pacific preferred had 2
somewhat chilling effect on speculative
sentiment The general accord OF the
current rumors n aIlsw0rg that the
stock % Northern Pacific Itself WAS not
yet provided for - the plan. he alleged
provision for the retirement Of the \. p.
preferred through which the control by
the Hartman interests IS sxsrref and
the assertion BY representa- tive- Of Har-
rtman interests that that syndicate VS.
not participant IL the plan seemed %
open up a vista OF renewed Contention ~
the day progressed there was q revival Of
other rumors that Union Pacific was %
acquire St Paul in exchange FOR new
bonds. In the presence Of these Eleasa1t
-rH
seemed TO take fire. The buying OF =.
Paul was quite in the old prodiSal fash
ion OF outlay and Union Pacific. South
ern Pacific and Atchisol were ccuspfc't-
Gus followers. The extreme advance II
Union Pacific was 27s and IN Southern
Pacific "a Rock Island was Up points
at one time on light dealings. Missouri
Pacific by no means kept pace with the
other transcouuneutal railroads and the
Gould stocks as a whole wsrs laggards-
The Southwesterns were affected BY poor
earnings for the first week in October.
Here and there in the railroad list and
the prominent industrials there were ad-
vances Of a point OF over but the activity
and strength OF the market we're BY no
means general OF well distributed The
CoaIers and the so-called Morgan stocks
including the United States steel seemed
10 be little affected and moved narrowly
Expectation Of a good bank statement
was general founded more on the tone OF
the money market than on actual infor-
nation and the showing viii depend On
the loan item. changes IN which are nee
essarily obscure. The feeling is grow
ing that present resources OF the banks
are likely 70 prove sufficient 20 meet the
further requirements OF the interior Tor
currency. The movement by express this
week fell OF over g 0oQ.0oo from that Of
last week. This feeling was al influence
on the strength OF the market. Comu1is-
sion houses reported little evidence % an
Increase OF inside interest IL the market
and the principal buying was attributed
to large speculative interests.
The railroad bond market was quite
active and showed 4 Increasing strength
Total sales par value. $500
United States IS coupon advanced 4
per cent on the last call.
The leading stocks closed as follows.