The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-09-28
WALL STREET STOCKS
Professionals Have Market
Pretty Much to themselves.
BEARS CROWDED OUT
Days Close Shows Material
Improvement.

New York, Sept 27.-Professional oper-
ators IN stocks had the market pretty
much 10 themselves today, but they found
various matters OF announcement. The
encouragement OF the bears with all the
bad news in sight disposed %. was cor
respondingly great and their buying 70
cover their shorts was an important IN
duence. The uncertain fiuctuation OF
Copper which started in the early deal
ings kept The market unsettled. but the
pressure OF liquidation IN them, as well
as elsewhere II the market, was mzIeri-
ally frightened and they shared n the late
general Improvement OF the market A
sharp rally in the price OF spot copper IN
London had an important bearing not
only on the status OF these stocks IN the
speculative market. but on the copper
trade outlook. It was reported that the
Amalgamated Copper company was sup
porting the spot copper market in Lon
don. Whatever the cause OF the rally
yesterdays contention that copper could
be imported at a profit was disposed Of
and the fear that the Anslganated com
pany would have TO cut the prizes OF It's
product was less acute. The stock sold
but closed with = net gain OF only IA
The recent notable buying Of the Van
derbilts was resumed. the conviction
growing that an early plan OF merger
would be announced. New York Central
rose SIS and the Junior Vanderbilt group
from l 10 81. In the liberal speculative
mood, Delaware and Hudson. Buffalo,
Rochester and Pittseurg, and probably
some Of the more obscure railroad stocks
that moved during the day were en-
braced in the plan by the faith OF oper-
ators. A very large number OF incon-
spicuous stocks were made active 81 ad-
vances all the way from 1 10 ~. Among
those IN this category were the NinneaD-
oils. st. Paul and Sault Ste Marie stocks.
the Duluth, South Shore and Atlantic, the
Keokuk and Des Moines. Des Moines and
Fort Dodge. Iowa Central. Evansville and
Terre Haute. Minneapolis and st. Louis.
Toledo. St. Louis and Western stocks and
Xanawha and Michigan. The coalers and
trunk lines responded early 10 the infu-
ence OF the Vanderbilt movement and the
leadlng. specialties, including the various
steel stocks, and the local transactions
showed evidence OF strength, but it was
not until late IN the day that the recent
leaders OF the market among the grang-
ers. Pacifcs and Southwesterns moved
strongly upward. The level OF prices on
the day shows an average advance OF
nearly a point The promise Of favora-
bic bank statement helped the late
strength Of the market The movement
of currency 10 the interior IS nearly
$4,000 less than last week, while the
receipts BY the banks are almost as
much greater. The sub-treasury has
contributed TO the money market 3, 2sS, 800
notwithstanding deposits with that insh-
tuition for transfer 20 the interior OF
over one million dollars. The gain on
this account IS due 20 the fact that the
government has paid out for redemption
of bonds at New York this week no less
than sa20.1sl The net result % the
banks or all accounts indicates a gain Ia
cash OF considerably more than two mil
lion dollars. Bankers generally expect
q large loan contraction as a result OF
the weeks liquidation in stocks promis-
ing a notable recuperation Of the surplus
reserves
There was a good demand for railroad
bonds. which were slightly irregular.
Total sales. par value. s2.255,oo0. United
states bonds were all unchanged on the
last call.
MaNH