The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-29
WALL STREET STOCKS
Union Pacific and EackaWan-
ma Show Activity.
LONDON SHORTS RELIEVED
Railroad Bond Market Dull
and Irregular.
LONDON SHORTS RELIEVED

New York, May 1.-There was show
Of strength and activity today in Union
Pacific and in LackawanDa. which had
considerable sympathetic effect in the
railroad list. There was some independ-
ent strength shown by a number OF minor
railroads and finally there was q hetero-
geneous assortment OF minor Industrial
stocks which advance on the influence Of
Individual causes not always disclosed.
There was. besides. some natural rscov-
cry from declines OF yesterday under the
see-saW operations OF the professional
group Of traders. who continued largely
in control OF the market The movement
in Lackawanua, coming on top OF its
previous advance Of late, carried the price
up today as high as "a The fluctuations
were rapid and vide. and the volume OF
dealings was comparatively small. 50
small, IN fact, as 10 preclude the suppose
ton OF buying for control in the open
market The explanation generally
agreed upon was that negotiations were
on foot TO secure large holdings ar pri-
vate agreement, and THAI the bidding up
Of the stock represents efforts 10 put the
prices Up TO prohibitive figures on the
part OF the insiders who oppose 3 change
OF control. That policy was successfully
UATcur4 some Lll4E since Al the case "
Delaware and Hudson. and that stock
showed some sympathy today with the
Lackswanna movement. The coalers 9TH
erwise were rather quiet, Ontario being
held IN check by the weak April state
ment Of Readings net earnings. The
strength OF the Wabash and Missouri Pa
cific and the Southwesterns generally was
related 70 the Lackawanna movement as
the supposed efforts to control OF the lat
IN ~ that
There was some large buying both OF
Union Pacific and OF Southern Pacific.
accompanied by rumors that further large
holdings Of Southern Pacific had been Sc
cured and would De applied as collateral
for the Union Pacific convertible bend
Issue 10 securities formerly held. The
strength Of Atchisoa, which sold ex-divi-
ing OF net earnings. The Tobacco stocks
! fell somewhat into the background in
the latter part of the day, but they we're
active and continued 10 advance in the
morning with q persistency Of recent ~
mors regarding the properties. The ad-
vance IN the Iowa Central and Minnesp-
oils and ST. Louis stocks was attributed
to working out of a project by the Illinois
Central 70 enter the Chicago-St. Paul
field. Chicago, Indianapolis and Louis
/ vile and Des Moines and Fort Dodge
showed conspicuous strength. and there
was also strength IN the American Car
and Foundry stocks. Chicago and Union
/ Traction. Brooklyn Transit. international
/ Power. Standard Rope and Tw1ne Anal
/ gamated Copper. General Electric and
I Consolidated Gas. The formal announce
ment that the banking houses represent
/ ing the contest for control OF Northern
Pacific had given orders 20 relieve any
Of the London shorts who are honestly
unable 70 make delivery By paying l5s
for their contracts. attracted attent;on.
! The wording OF the announcement was
accepted as indicating the continued
/ eagerness to spare actual deliveries OF
1 this stock The plans OF the Illinois Cen
/ trail advanced further in the Granger
/ field, and a purchase Of large interest IN
I the Ohio soft coal field reported 70 be
for account Of the Gould interest were
minor incidents that were thought 70
/ have possible significance on the ques-
/ ton OF an agreement between the two
1 conrending interests. The engagement OF
/ 81, 10000 gold for export was not known
4 until after the close.
Wabash deoenture BIS and Standard
! Rope 6s were strong and active The
/ railroad bond market generally was dull
+ and irregular. Total sales. par value.
Sc. 80 600. United States refunding tvcs
/ advanced Z, and new fours Per cent on
the last call
! Closing prices OF stocks were as fol-
lows.