The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-16
STOCKS AND BONDS.

New York. April 15--It was plainly &c
be seen today that the Influential assem-
blage Of professional operators in stocks
which has led the great bull market OF
this year thrOughOutwas making an alb
rupt shift from the high-priced railroad
stocks into the industrial stocks CT ali
grades down to many that are in the
stock exchange category Of cats and
dogs" Very buoyant advances were ef-
fected in many Of these and the unfailing
following OF outside spectators which
has quickly followed this leadership for
many weeks past continued its dOcile
response today. There was a very ia
grant manipulation in the case OF many
of these advances and in others there
was a very large and apparently urgent
demand which argued knowledge Of com
ing favorable developments. A very no.
table feature Of the market was that
prOtit-taking IN the railroad list persist
ed throughout the buOyant rise among
the specialties. Prices OF the railroads
were opened high, helped by some spec
ulative demand for Londan account. the
latter factor being especially notable in
Southern Railway preferred. But the
opening prices in the railroads or those
made during the first hour proved 10 De
the highest in very many cases. Railroad
stocks generally showed net losses on the
day. although an effort was made 70 sup
port them at the last, lifting some Of
them from the lowest New York Cen
trail had reacted to 1915 in the last
hour and was made to sell on the next
and last sale at 1525a, the closing bid
dropping back again to 15IH. with 15la
asked BY far the most conspicuous
enormous volume Of the dealings was IN
Amalgamated Copper. The stock fell
back at intervals on proit-taldng, after
its wide opening at III to 30, compared
with lie at Saturdays close. In the final
dealings ii was rushed up through a
food Of offerings to 1242l. closing at the
top notch. There were notable upward
movements in all the gas stocks. led by
Consolidated Gas and Brooklyn Union
Gas. with advances of 6iz and 10 respect
lively. Peoples Gas rose at one time
nearly five points. There were gains Of
~ in Metropolitan Street Railway. 314
in Sugar, rs in Chicago Terminal. S in
the preferred, 1855 in Colorado Fuel. and
4 in tennessee Coal Other gains OF TO
6 points are accounted for BY such
stocks as international Pump. Texas and
Pacific Land Trust, National Lead. Amer
lean Linseed Oil stocks. National Salt
preferred. American Snuff preferred,
Glucose and New York AIR Brake. The
only real notable advance in the railroad
list was in the high-priced coalers. Cleve-
land. Cincinnati. Chicago and St. Louis,
which rose As. and Mexican National.
which lifted 2is on large buying. Bur
lington was at one time carried "a IN
der Saturday and Rock Island two points.
Call money did not rise aZove six per
cent today, and eased off during the
day Speculative sentiment. however, Is
not free from misgivings over the future
Of the money market. IT is TO be borne
in mind that the lending in New York
for account Of western banks which has
been q feature for several days past is
effected by drawing upon the New York
deposits Of those banks. The result is TO
give the benefit of the higher interest rate
TO the western banks, rather than to the
New York banks. but 1t IS simply by
q transfer of account which does not
AFFORD relief TO the money market. The
high money rate here. however. has
checked the interior demand for cash
and the risa in the New York exchange
rate at Chicago to par suggests the imi-
nence Of the return flow 20 New York.
The unsett1ement OF the London money
market pending the budget statement in
parliament which Is fixed for April Is.
and which IS awaited for light on the
srno1rnNs and terms Of the new issue Of
consols, Is an influence upon money len
ders in New York and in fact all other
money. centers. Estimates Of the amount
Of the loan vary from 100000 10
s2A0 no. 000 But in any event the like
Iihood is presented Of periodical monthly
calls upon the London money market for
the next twelve months for from $1,000
600 to t12500.ooo.
The bond market was strong. Mexican
Central incomes being in notable demand
and q large business transacted in Union
Pacific convertible fours. Total sales,
par value 100000.
Closing prices Of stocks were as fol-
lows.