The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-07-20
WALL STREET STOCKS
Market Mas Highly Profess
Sional in Character.
PRICES BROKE THROUGH
Market Closed Weak at Low
est Of Day.

New York. July is.-Ths character o.
today's stock market was much the same
as that OF yesterday. but there was a con
sptcuous absence OF the late enormous de-
mand which lifted Union Pacific yestsr-
day il the closing dealings. The volume
OF transactions was rather larger than
yesterday. buc the market was neveIthe
less highly professional Much liquidation
had TO &c absorbed BY those who had set
themselves the task OF supporting The
market. and the burden seemed 70 be too
heavy 70 carry. Prices broke through sup
port in The late dealings and the market
closed weak a. the lowest OF the dew
Even those stocks which had shown
/ strength during the day had very liz =
Z left 10 show IN the way % gains. end
the stocks which were conspicuous FOR
strength yesterday were conspicuo r'i.v
weak The stocks selected as prOps fur
the market today seemed 10 be prilci-
pally amongst the southern railroads srld
the Gould SouthEesterus. Ircluded vlrF
the latter were Western Union AMI Man
haitian Texas and Pacific was - one
time points over last night and there
vas large buying 81 Missouri Pacific.
United States steel stocks seemed 70 he
well under control b. insiders, and they
were marked Up sharply over . point
each during the period Of strength IN tile
market. The sustaining force Of these "a -
vances, however, was steadily taken ad-
vantage Of to realize IN the railroad Isc-
Union Pacific. St Paul ana AtchiS1n
were the most conspicuous objects or the
selling Southern Pacific ~ one time
broke away from The group and was
marked 10 % 59isc. apparently ia pur-
sualCe Of the design OF supporting the
market for realizing purposes. TIE devise
proved onlv moderately successful, As did
others OF the same character. IN the late
reaction the decline y St Paul extended
10 -. Union Pacific 70 81. Atchisnn ID
81, Missouri Pacific ~, and Southern Pa
cihc 70 81.
Much 81 the selling seemed % be
prompted BY the renewed fears % djszs-
ter 20 the corn crop, the same motive
being II work in the corn market. The
selling for western account was very large
and vas attributed 20 important interests
The selling for London accoCpt vas an
other important factor IN the day Inar-
ket. It was most conspicuous IN TIE
United States Steel stocks. but extended
cesioes 10 others OF the international list
ed stocks. The days total sales for that
account were estimated at as high as
10000 shares This development vas
factor Ia the hrmness OF sterling ex-
C4d4lEe N NcW 4 OK ana ~-le easier Ly--
OF money IN London. The seeming disiu-
clinat.on TO continue the support OF the
market by the group OF capitalists 20
whom spectators have been locking tQr
that purpose emphasized the disposition
10 sell. The week movement OF money
70 and from the interior give promise OF
a strong bank statement The eeSs
large disbursements or pensions, pay
ments on accounts OF gold deposited with
- e. - Ia -
and some large expenditure By the gov
eminent, on other accounts. his resulted
IN gain from the suD-treasUry Of &
81. Geo The express movement OF cash (
10 and from the interior IS estimated % T.
have Melted 70 the banks as much or
more. The changes IN the loan item are I
81 ghtly problematicsl, the liquidation 4
early IN the week possibly having been /
OFFSET by the latter measures 70 support I
the market
The bond market was moderately ac-
tive, however Total sales, par value,
g SO 009. United States bonds were IN .
changed on the last call.