The Wichita daily eagle., 1901-06-14
WALL STREET STOCKS
There Was Notable Increase
in Speculation.
UNION PACIFIC STRONG
Speculative interest Mas
Decidedly Spotty.

New York. June 15.-Thers was nota-
bic increase il the speculation IN stocks
today, the business running up 70 near a
million shares. Speculative interest was
stil decidedly spotty, but the strength OF
the principal active stocks was so decided
as 10 affect the whole list by sympathy
with a few unimportant exceptions. There
were points IN the list nevertheless, which
were held back by palpable realizing. The
realizing was vel taken and inflicted nc
losses on the stocks Pennsylvania was
notable example in this category and
the SOuthwesterns did not share 10 the
Iuu IN the buoyancy OF other western
railroads. Very large amounts OF Penn
sylvania stock have been marketed this
week. and in the loan crowd the stock
commands a premium. The selling is 20
large extent against the buying or
rights 10 subscribe TO the new stock issue.
Notwithstanding the Official disclaimers
OF the reported purchase Of the Pennsyl-
vania Steel company by the railroad com
pany, Wall Street opinion regards that
as an accomplished fact. The continued
strength today Of Colorado Fuel and the
buying Of that stock by some brokers
usually employed b. the Gould interests
aroused conjecture that the control OF
the Colorado company was being sought
by the Gould-Harrlul-in interest with the
same purpose in view as that ascribed
20 the Pennsylvania, 10 insure the cheap
production OF its steel rail supply The
advance IN Colorado Fuel reached 81. car
rying 1t above yesterday $ high price
Other Independent steel companies were
strong, notably Tennessee Coal. which
rose 37s on the acquisition of the Ala
bama Steel and Wire company. the Uni
led States Steel stocks were heavy. the
selling being attributed TO the uneasi-
ness over the development OF opposition
companies. The Could Hartman brokers
we're arvitve in various stocks, notably
in Union Pacific. The buying IN this
stock was on an enormous scale. and
was closely followed by St. Paul through
out AL its fluctuations. The Street was
IN the dark as to the cause OF the move
ment and attributed il vaguely to fur
ther working out OF the Northwestern
railroad relations and 10 favorable crop
news.
4 YeIl-defned rumor gained currency
toward the close that Some heavy orig
inal holdings Of St. Paul represented in
the directory for many years have been
sold, and that the stock will appear IN
the collateral for the Union Pacific con-
crtible bonds. Union Pacific rose an eX-
trenne 6B and ST. Paul -. Missouri Pa
cifc and some OF It's affiliated stocks.
notably Denver and Rio Grsnde. contin-
ued 20 show the influence Of expected ac-
ton on consolidation. The rise IN Balti-
more and Ohio of 81 was on the judicial
decision in favor OF the rights of the
common stock holders to all profits after
the preferred dividend. The preferred
stock broke 2 points from the same cause.
Cleveland, Cincinnati. Chicago and St
Louis advanced 2ss on the reported aeQui-
sition Of the Cincinnati Northern Mime
apolis and st. Louis, after a further do
cline OF one point ewing 70 disappoint-
ment over yesterdays unchanged divi-
dend rallied strongly points.
The rise OF 81 IN North American was
accompanied by Tumors Of additional en-
terprises by the company. Western In
ion gained 2is on the strength Of its large
dividend return. Quite a long list OK
railroad and industrial stock advanced
from 1 70 points. The buoyant outburst
in Union Pacific made the closing firm.
there had been constant reac-
tions on profit-takins. several convert /
bic bond Issues were strong and active
IN response TO the movement OF their
stocks. The market generally was mod
erately active and quite drrn. Total sales. !
par value. $1,000. United States bonds !
were all unchanged On the last call.