The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-11-12
STOCKS AND BONDS.

New York, Nov. I.-There was another
day of broad and active speculation in
! stocks today and a large and well dis
tributed demand for bonds. outside of the
extraordinary dealings in some Of the
convertible and speculative bonds. 1t is
notable in this regard that while the deal
ings for the last week in stocks were still
below the large business for the cores
ponding period Of last year, the par value
Of the bonds dealt IN last week exceeded
those of the corresponding period of last
year by over 100000 The demand for
stocks today was exceedingly varied as
was the movement of prices owing TO the
fact that the buying demand shifted to
new quarters and realizing OF profits pro-
ceeded actively in last weeks favorites.
taking advantage of the sustaining force
of the new favorites. The dealings con-
tinued TO a large extent TO remain in pro-
fessiOnal hands although there was some
accession Of speculative interest today,
shown by orders through commission
houses. While the professionals domin-
ate the market, the news of the day as
influences stock speculation is likely to be
distorted in its perspective to suit the pre-
VaillnE sentiment OF the speculation. To-
DAY the northwestern railroad settlement
and the Vanderbilt plan of merger. which
furnished the material of the bulls during
the last weeks rise fell into the back
ground decidedly, while discussion be-
came very active on the favorable pros
poets in the coal trade, the iron and steel
trade and the extraordinary railroad traf-
nc of which reports are heard on all hands
in accordance with this tendecy, the coal
carriers and the iron and steel industrials
made conspicuous advances today, while
the professionals sold the transcOntinental
stocks and the &anderbilts TO take their
profits. After the unpresedent OUTLAWS OF
the past year for increase and improve
ment of rolling stock and equipment the
fact that an actual car famine exists in
many parts of the country is conclusive
evidence that the business offerings to the
railroads is greater than ever before.
From the coal and iron regions comes the
cry for more cars many iron mills being
reported shut down for lack of coke and
raw material. Grain receipts are said TO
be small because of lack of cars. This ac-
cords with the reports that the over
whelmlng railroad traffic is largely made
up OF general merchandise due to the ac-
tivity in trade in all lines. The urgent
demand for freight cars and others forms
of railroad equipment made the movement
today in the car and steel industrials
natural cOrrollory of the movement in the
railroad stocks. The days conspicuous
advances viii be seen TO have centered in
the anthracite and soft coal carriers and
in the car ard steel iEdustrials.
Sugar and Amalgamated copper were af
fected by ar active demand from the
shorts and both stocks were largely dealt
in for Boston account. Chicago and East
ern Illinois jumped nine points but react
ed .. Union Pacific preferred rose 4
points and Great Northern preferred and
Northern Pacific preferred moved strong
~ upward at the last on revived reports
O. an early settlement. Sentiment con-
tinued confident over the money outlook,
although foreign exchange continued
strong and additional gold shipments are
expected later in the week. Realizing be-
came very general IN the late dealings but
a number of rallies made the closing If
regular.
The bond market was active and gener-
ally strong the IS convertible and spec
ulatlve bonds especially so. Standard rope
skies rose ~; total SAFES, par value So, 625.-
eco. L. :. refunding IS declined i and
the old IS advanced Is per cent on the
last call.