The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-25
WALL STREET STOCKS
Final Squirt of Activity Saved
the Gay.
0ULLEST DAY IN MONTHS
Tobacco Stocks Were Features
of Days Trading.
1ULLEST DAY IN MONTHS

New York. Nay PA final squirt o.
activity and strength IN the stock market
was al that saved the day from being the
dullest IL the amount OF business done
since the November election As IL was
business was well done towards the mini
mum, and was besides largely cong-sted
in q few stocks. The tobacco stocks,
American and continental were the fea-
ture OF the market Ths volume OF bus
mess II these grew as the advance pro-
gressed and al OF the room traders. hun
CRY for 4 stock that would move easily
tailed onto the movement By bidding
up prices smsrtly they ascertained that
very few selling orders for the stock were
IN the market above the prevailing price
level. These technical conditions were
RESPONSIBLE for the movement q stocks
so far as any news that was published
would Indicate. Something is made Of
the fact that the new tobacco company
IS being organized has representatives IN
II who organized an opposition company
once before which was absorbed in e
short time By the American company.
The days gain registered FOR American
Tobacco was eight points and for Con-
t---lA--@-- -NAa---I - -A---A 50 ---t7 -
OF the market was due 70 the movement
and 70 the late sccentustion OF strength
in other stocks when had shown signs
OF hrmness and strength earlier IN the
day. The weak points were also pulled
up 50 that the losses which were at one
time very general we're either wiped out
or greatly reduced all around The
Eres. the Gabash. Missouri Pacific and
Atchison were good points OF resistance
all day. The story persisted that Efforts
were making TO secure 4 trunk line CUT
let for the Gould, Southwestern rail
roads and Wabash: that the great trunk
line proprietors had protested against
this project and that It had been threat
ened that Atchison would be absorbed
this story would be found closely related
TO whatever strength was shown n the
days market The movement OF Union
Pacific was a notable influence on the
whole market. its break 70 uinety-eight
being the principal factor IN the early
weakness Of the market and its rally at
the close largely relieving the depression
The forecast OF a strong bank statement
promising a recuperation IN cash by the
banks OF nearly =. q. 600 was q revifying
influence although there has been 10 iach,
OF money TO loan The fact that no fur
Their gold was engaged for export vas
also a Strengthening factor. not only for
its immediate bearing upon the situation
but IN its larger significance as indicat-
ing a relaxation IN the whole foreign
money situation Yesterdays large pur-
chase OF newly arrived gold IN the open
market IN London By the Bank OF Eng
land was the signal that the pressure for
gold at continental centers had relaxed
that the requirements In Paris for the
Russian loan had been satisfied and that
London was free 70 recuperate its money
market and prepare for some large fu-
ture needs. This is notable relief % the
whole financial world and Is incidentally
a striking testimony 10 the strong posi-
ton OF the Bank OF France. which has
been able 10 provide for the Russian loan
with a much lighter recourse than was
expected 70 the foreign credits OF tbs
Paris money market The cessation OF the
urgent demand for Northern Pacific was
also relieved a apprehension. The result
was an active and firm close in the mar
ket after q day OF feeble ard dssultory
fuctuations.
The bond market was Irregular and only
moderately active Total sales par value
8. 80. GO.
United States As. advanced a Per cent
on the last call