The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-02-26
WALL STREET MARKET
Remarkable Exhibition of
SDaSmodic Strength.
THEN A SUDDEN RELAPSE
important Feature Was a
Rumor About Steel Merger.

! New York. Feb. 25.-The stock market
made a remarkable exhibition this morn
( ing OF spasmodic strength, followed by a
+ sudden relapse and a period of undevi-
ating duHness and dropping prices up TO
( the close. The principal influence in the
opening bulge was the many rumors and
clrcumstantan accounts Of the alleged
details Of the steel merger and the terms
( of exchange Of the proposed new securi-
Ties for the existing stocks Of the steel
companies This accumulation of conjee-
lures was supplemented by the reports
OF the proceedings of brokers up town
during the three days interval while the
stock exchange was closed. The prices
bid BY some Of these brokers for blocks
Of the Steel stocks and the sa-es made
according 10 report about the uptown
hotels were calculated TO excite specula-
! tive cupidity. The excited bidding which
was thus attracted to the opening deal
ings sent prices of the Steel stocks up
like a rocket Tin Plate was the most
notable in the width Of its fluctuations.
The stock was rushed up IS points in a
few minutes, and after dropping back
was lifted again almost to the top level
but it ultimately gave way with the
Wnole market The other real stocks. in
GLIDING both the common and the pre-
ferred were I'D from one 10 nearly six
points. These prices brought in heavy
realizing sales at the start. The pro
fessional room traders were obviously
disposed to let the group alone. not car /
ing TO compete with insiders in preten- /
sions to accurate knowledge Of the value
OF the stock. Besides this influence
which whipped the Steel stocks into ef- +
fervescence, the interval since Thursday
had seen the publication Of the favorable F
bank statement Of Saturday. Traders IN +
both stocks according To their invariable .
rule on the showing of an increase in +
the surplu reserve. Last weeks gain IN
cash was a good deal Of relief TO the .
apprehension regarding the money mar
ket. The check 10 the recent heavy in +
creasing tendency in the loan item was
specifically regarded as favorable bat
the conviction that it was one to the .
calling IN a loans placed in the stock \
market led TO some later apprehension {
that the process would be continued IN I
further preparation for corporation fl +
nancing operations. London sent higher
prices under the favorable influence Of
the success reported for the British arms
In South Africa. These influences caused f
some advances in the railroad list If
from one to two points. A good demand
developed later in the day for the SOU n
ern Railway stocks. and there were $50
lated Instances Of strength among some
Of the less important railroad stocks
Closing prices Of stocks were as follows
Atchison 1900. 557s, Texas Pac .... 27i.
, 40 pid ........ IS Union Pacific $50
Balto. < Ohio. IS do pfd ........ Si.4
Can. Pacific .... Sei4 Wabash ....... IT
Can. SOUTH. 5s1a. do Dfd 2qTs
Chesa. q Ohio. ISIS Wheel & l.. E Is
IN, q. W. lSi2 do ID pfd zee. 3Jis
Chi, 3. & O.. 1443s Wis Central Isis
Shl, ina. & L. ~ Third Avenue 10
20 pfd 50 Adams Express. l50
en- a =. Il...-10i Amer. EXpress..1S2
Chi % NOrthW.I71 IT, s Express 81
nj, n l. q - Wells Fargo LBS
C-CC K st. l.. 1914 Amer. Cot OIL Is
Colo. South ..... So do pfd ..... Sc
90 Isl pfd .... g Amer. Malt -. "a
do "a pfd..... 11l5 do nd q
Del. q Hudson .164i4f Am SIN & Re 5lib
De-. i. q WIS., do pfi ...... So
Denver & re. 50 Amer SPIRITS
do pfd ....-... s. do pfd .... II
Erie ....;.... rs Amer 5. Hoop. sia4
Ct North pfd.193 Amer S & ". 447s
Hook Coal 800. Is do pfd - o,.
Hook Valley. A Amer Tin Plate IS
III. CcnGral.....1I do pfd - s9a-
Iowa Central e.. 3511 Amer lob .....1i75s
do pfd ........ q do pfd - 40
LAKE T.. q W.. II An. Min. Co. ia
40 Pa ----..-.llB Brook R. Tran. i0A
Lake Saore 4-l5.s Colo =. & t.. 49,
Louis. < Nash - Cont T0b q I
Manhattan L..ll7izl 90 pfd .... asis
Aet. St. Ry..... 15Iie Fed Steel - 49,
Mex. Central. 1Ua do pfd 80. So
MINI. & s.. l.. 77isiGeu. Electric 2f9 (
40 Isl p1d -..-ls3iR Glucosf Sugar. 85lz .
N1O. Pacific 500. S53. do MD al
Mobile < OHIO 7S14 Int. PAPER -
Mo, X. & t.. 1854 do pfd - n
do pfd ..-.... 511t Taclede Gas
=. J. Central. I6is Nat. Biscuit 2s1s
y. Y. Central 1885 do pfd - 73i-
Norfolk & West 81. Nat Lead - 49,
do pfd -...--. S2-4 do pfd ...... So &
North. Pac ..... S2a. Nat Steel d.
do pfd ..-..... 81 DO ofd - 16Iiz Z
Ont. a West. SI1. y Y A Prake fsf :
Or. Ry. d N. II North Amer a5iL
90 pfd ........ rs .Pac. CoaSf -
Pennsylvania las : do 1st ora 81
headlns s..... 3Jlsl do 2d pfd $3.50 81
do q pfd .... a Peoples Gas 160
Rio c. West o.. So Press Steel car ~. ?
90 pa -. q 90 pfd -....... 75il
-, l. y > = -- ~ Pull. Pal. Car17 :
do Ist pfd.. s1fzstan r. r. T
DO % pfd 80 sga sSugar 7s-1e {
St. l. S0uthw = ~ pa
20 pio ---.---- - Tenn G. q L. 5yt