The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-06-05
WALL STREET STOCKS
Sugars Weakness Was De-
termining Influence.
MARKET TURNED WEAK
Close Was Decidedly lrregu-
lar and Unsettled.
MARKET TURNED WEAK

New York. June 4.-Ths upward course
OF prices received q decided check today.
After the strong opening IN continue
ton Of yesterdays strength. the whole
market with 4 very few exceptions turn
ed weak. There was q pretty general
rally in the afternoon under the leader
ship Of q few strong stocks, but before
the close there were some ragged breaks
in prices and the closing was decidedly ir-
regular and unsettled with only a few
stocks near the top level The acute
weakness Of Sugar was a determining in
huence in the early dealings. Yesterdays
rumors OF an increase in the dividend or
this stock were pretty generally discred-
tied this morning, and there was besides
an explicit denial OF q statement put out
yesterday that litigation with the compa-
nys principal competitor had been set
tied. The principal selling had been ef-
fected before hte actual announcement OF
the unchanged dividend, and there was
some recovery later In the day IN sympa-
thy with the general strength OF the
market The stocks extreme decline was
6ss. The fact that the other c0alers did
not respond TO the early strength OF On
tariO and Western, on the report Of its
purchase Of the old Delaware and Hudson
canal IN spite OF reassuring statements
that the transaction was with the fun
knowledge and approval OF the Erie Rail-
road company, was considered rather ON
nous. Reports OF drought in the south
west gave rise TO the cross speculation
usual at this period CT the year 10 Dull
wheat and TO bear the grain carrying rail-
roads. The effects Of this we're particu-
larry manifest in St. Paul and the South
westerns. The decline in Union Pacific
reached 81 and IN St. Paul %. Reports
OF a falling OF in new orders received in
the iron trade. although actual cOnsump-
ton is reported to be stiu running close
TO production. awakened "reminiscences OF
last years collapse in the Steel securi-
ties. There was besides very heavy sell
ing by professional operators 70 take
profits on yesterdays rise, London Join
ing in the selling and reversing its posi-
ton Of yesterday. The identity OF the
sellers was the subject OF rather anxious
surmise. The announcement Of the SD
gar dividend relieved the market OF
disturbing element and its recovery set
in from that time. The markets princi-
pal movements later turned on the vari-
Gus stories OF wide reaching adjustments
in the railroad world. Allegations that
the Missouri Pacific was 70 be accorded
an influential interest in Southern Pacific
in return for rehnQuishing TO the Penn
cF4NalLhs TIE " dDd5Lf anu Lane LAlE
properties, and that Union Pacific was
to have a voice in Atchison affairs We're
factors in the buying. Pennsylvania rose
an extreme points, Southern Pacific "a,
and the Wheeling and Lake Erie stocks
2 to 1 points. Rock Island rose an ex-
treme 81. The movement seemed to be
based on the belief in abelated a6mis-
sion of the company 10 a share in the adj
vantages of the Northern Pacific settle
ment. The rise IN Ontario and Western
on its canal acquisition reached 4is. Cen
eral Electric advanced 13 points on re-
ports of heavy earnings. United States
Express rose 3, Des Mones and Fort
Dodge 81. Brooklyn Union Gas ga. and
Peoria and Eastern. 3. The Fries were
again heavily bought Just before the
close. Last prices were invariably below
the best, tho final reaction reaching a
point OF over IN some OF the important
stocks. The money market was not an
influence in the trading as rates continued
easy in spite OF a late recovery in sterling
exchange 70 the gold export point
The bond market was irregular IN SYM
patty with stocks. Total sales. par value.
s. 2S5. 000 United States refundlng twos
advanced = per cent on the last call
Closing prices Of stocks were as follows: