The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-10-17
STOCKS AND BONDS.

New York, Oct. 16.-Today's stock mar
set reflected a puzzled and a hesitating
mood amongst professional operators,
who again made up the bulk Of the mar
ket. There was . marked disiaclinatIon
to take on long stock and some timidlty
about making contracts or the short side.
Several special factors turned the tide to
ward depression and net losses were the
1Ulcs although they are not important in
the general list. An organized bear cam
paign against Amslgamated Copper,
which was aided By much outlay OF
printers ink unsettled the market early
in the session The selling OF the stock
was by Boston houses The price fell at
enc time % under yesterday. and closed
az g net loss Of , points. The break IN
AmalganGted Copper interrupted an in
eipient rise IN Pennsylvania and its allied
stocks prompted by the report OF the
sale O. $4,000 COZ Of bonds by the com
pany. This was held TO account for the
large buying of stock yesterday. The
eject of today's announcement, however,
afforded little opportunity for profit on
yesterdays purchases, although much in
tercst was shown as TO the purpose TO
which the proceeds of the bonds would be
applied As the purchases Of stocks OF
other railroads SO far as officially &C
knOwiedged by the company has been
provided for by the additional stock is
sues, il was supposed that the purchase
Of control Of the Cambria Steel company
was being provided for.
Buiiish operators spread reports that
purchases OF Atchison were in contern-
plation by Pennsylvania but there was
no response in the speculation. The mar
ket showed a tendency toward stigma
ton during tho afternoon until sharp
raid against the Southwestern late IN the
day awakened some degree Of activity
at the expense Of values. Losses OF from
70 25s were made by practically all thu
members OF the group Bear operators
professed TO detect evidences OF inside
selling, which was attributed 70 the ac-
count OF the interest dominant in the
group and supposed TO be prompted by
poor outlook Tor traffic on account OF
bad crops
The money question continues some
what depressing influence. a transfer
through the sub-treasury today Of S2S0 600
additional TO New Orleans adds TO the
apprehension that the belated movement
OF cotton viii cause large requirements in
that quarter The transfers to New Or
leans thus far this season through the
sub-treasuTy amount TO only 100000,
compared with s.. 40 go 10 this date last
year. Last year. however, the Calves
q part of the movement. The renewed
currncy movement, the Withdrawals by
the sub-treasury on account OF the sur
plus revenues, and some special demand
from Buffalo 10 meet a run on a trust
there. viii all affect the cash
showing of the banks this week. The
question is now cauvassed as TO the eff
feet on the loan item of the purchase OF
Pennsylvania company bonds, the soft
coal consolidation which is in process OF J
formation ard the transfer OF a great
establishment which was re-
ported this morning.
The emphatic denials BY President Hill, /
lf last weeks ruulors Of continental +
railroad consultations was another +
chilling effect on the speculation The /
market was weak until the room traders (
took their profits by covering their short I
contracts Sales OF Lake Shore at 800, .
record price. was an incident.
Railroad bonds we're less active than 7
Yesterday, and We're irregular Total +
sales. par value. s. 2S5.0o9. United States /
3ves coupon. advanced y per cent on +
The last call.
E,-TT-