The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-07-19
HALL STREET STOCKS
Speculative Judgement Was
Very Unsettled.
BUYING WAS CONTESTED
Because of Erratic Gyrations
in Railroad Stocks,

New York. July 1s.-Speculative judy
ment or today's stock market vas IN
settled ard conclusive under the iufu-
ence OF the Giraffe gyrations q Union
Pacific, St Paul ard 10 a lesser extent
other railroads Immediately affected oy
the Northern Pacific settlement an
nounced late yesterday. TIE frHuencs Of
that company was dominant at the open
ing @ the stock market as was shown By
The cougested buying OF the stocks CT The
railroads affected Simultaneous pur-
chases OF Union Pacific at the opening
were OF 1o.0o8 shares a. 1854. 70 1885. com
pared with 1e23. last night AMI CT s.
Paul g. coo shares 81 1874 70 10. compared
with 1s37s last night. United States Steel
was also dealt n % the extent OF 5000
shares. varying n prices from Az 10
a., compared with 4oSs last night Tia
price OF this stock az the opening was tie
steady pressure through the mutations -
the market getting down nearly 4 poinr
under last night and closing az p frac-
ttonai net loss. The whole market felt the
eject almost immediarely OF enormous
realizing sales and the successive d.
clines suggested the conjecture that in
side interests, which bought stocks yes
Lerday were selling out 70 take pro1zs-
The belief prevailed n the board that the
large capitalists who supported the mar
ket on Monday ard Tuesday by buying
practically al offerings OF the leading
stocks were tightening their holdings and
taking advantage OF the effect CT the
Northern Pacific announcement 70 reduce
their holdings. The rather paIpabls ma
nipulGtiOn OF the market and the circuia-
ton CT vague limitations that 9Irthcr
disclosures were coming OF additional A.
engagements under the Northern Pa-clIc
settlement added 10 this impression.
Rather frank admissions were forIhcOU,-
Ing that the announcement q the North
ern Pacific was timed with a view %
Quisting approximations and checking the
Uneasiness 81 the stock market against
the earlier decision OF those interested 70
withhold the announcement until q later
period. This save color % the belief that
the policy thus adopted q rally the mar
ked had n view as vel as the moral
eject upon the steel stock situation q
an advance IN the steel stocks. These
conditions served . take the edge OF the
fact OF the announcement OF the North
ern Pacific settlement.
There was a period after midday when
the general level OF prices had rsceded
wei LE4-M last LAHA-r even AA--l-A -
CifC and ST. Paul showing losses. The
weakness IN AtchisOn. Rock Island, the
coalsrs and some Of the southern lines
were quite pronounced L was late iu
the day when Union Pacific began It's
hnal upward movement Every EFFORT
was also apparent 70 BID uP the price %
the stock Il touched 119 before the close
and St Paul was lifted % 1sz4 ard
Southern Pacific TO 81. The market ral-
He'd IN sympathy, but did not generally
get back 70 the best The buoyaut riss
n Union Pacific revived the belief II
further developments r. the community
OF interest plan il the west The closing
was feverish ard irregular below the
best
The railroad bond market VAS active
and continued slightly irregular n spite
Of q late Improvement Total sales, par
value. $3.50, DO. United States bonds were
al unchanged OF the last call
H- -