The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-01-24
MARKET Of Trading
Professionals in Charge of
Things in Wall Street.
MO. PACIFIC STOCKS DROP
Indicating Rockefeller Has No
interest in It.

New York, Jan. 2S-The market demon
strated quite conclusively its professional
character today It was distincuvely a
traders market The trading was done
by powerful spectators with ample re-
sources. The transactions were on a
large scale and the price movement was
much wider than in an ordinary room
atoms ard the net results were much
the same. A scrutiny Of the net changes
for the day will show that except IN a
few stocks they are small and pretty
well mixed between gains ard losses.
Yet at one time the whole list was at a
level well over yesterdays final price.
The realizing movement in the last hour
was sufficient to wipe out almost all Of
the early advances and only the final
slight rally saved the list from a larger
showing of net losses than is actually the
case Buying by room shorts TO cover
was largely responsible for the final rail-
ly. The concentrated nature of the buy
ing and the identity Of the brokers by
whom it was done, and especially IN the
stocks which were picked out for the
greatest show of strength. were warrant
for the conviction that the speculative
leadership was in the hands Of the CO
terie which made q demonstrated change
from the bear to the bull side Of the
market during the course Of Monday
trading The selling during the last hour
was also of q very concentrated charac-
ter, but was by different brokers from
these who executed the early buyirg or
ders. The deduction that large specula-
tive profit taking was being made is MT
,cfa ness
of Missouri Pacific, which fell at one
time Sl2 points below yesterdays high
level. left little room for credence In thu
rumors Of a big southwestern railroad
consolidation. and gave color 10 The re-
port that q large short interest IN the
stock had been settled by private agree
nent There was a distinct shifting Of
speculative interest from the railroads 10
the indUstrials, and II was the evidsnc
Of realizing in the railroad list under
covering Of the new strength in the In
dustrials that caus the break IN tae
market. such early gains a. Is in St
Paul. pa in Brooklyn Transit. ~ IN Bal-
ttmore and Ohio. 2ss In Peoples Gas and
others nearly as substantial, were en-
pletelv wiped out IN the late reaction
TIE decline from the highest reached -
in ST. Paul 81 IN Brooklyn Transit ~
IN Delaware and Hudson. q. N &a'ti-
more and OHIO, and Manhattan and from
to ? points IN a large number o. -
tive stocks. The steel stocks re- 81
from the best in sympathy, but harden
again in the late dealings. the leaders
rising 70 the best a. the close on hssvy
absorption. Federal Ste gain was Sis-
Pressed Steel Car rose an extreme 81,
while the annu25 meeting was il SEES
sion. and the pesfeTred -. All TIE mot
important members Of tire group CAMEL
from 1 20 points. There was 10 news
to account for the rise. but the fact ~
the disturbances which threaten the
steel trade might Dc settled by the few
individuals who control the requires n
that trade AZ present natuAl > makes
them available for speculative ulanfpu
lation TIE volume q the god exports
for somorrow's steamer, which rose 70
8 e0H9. had rather chilling effect o.
the late speculation y spite % NE con-
tlrued large flow OF money 70 tles CEN
Ter. The gains ~ the banks oa fso-
treasury operations alone thus fsr 3
week are only aaost $500 oloz te
figure q gold ex2orz money continued
VERY easy II ali partnents Z IN mar
ket Closing prices = stocks wefe 80
follows.