The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-10-09
MARKET IS UNSTEADY
Prices in Stocks are Varying
and Conflicting.
BEARS ARE SACKED DOWN
Drive Against Sugar and
Brooklyn Transit Is Feature.


New York. Oct. s.-Tne conhicti-g and
varying movement OF prices in the stock
market Today showed that speculative
sentiment was considerably unsettled
The impressive buying OF yesterday which
came from a few concentrated sources
evidently made an impression on p-ofes-
sionsl traders. They were inclined 10
take the view that the waverng move
neat OF the market yesterday was a cul-
mination OF the downward movement.
large bear interests taking advantage CO
q raid on leading stocks 70 cover their
short contracts Influenced by this con-
viction there was disposition 70 cover
short lines today. A drive against Sugar
and Brooklyn Transit sitter the early
strength unsettled this conviction. but the
bears had evidently lost their aggressive
spirit, and did not pursue their advant-
age. but took occasion 10 cover their
short lines again
Prices touched the highest late IN the
day But the situation again overcame
the spectators and prices sold or again
oversold condition OF the market were
balanced against the persistlrg doubts
and dread that the money market re-
sources srs not sufficient 70 save the sit
uation for the remaining period OF in
terror demands for currency. Back OF
this lies an apprehension IN come quarters
that the present reactionary tendency OF
the market may mark a step IN a pro-
longed downward movement preliminary
TO z coming cycle OF declining trade and
industry following the elimination OF the
late period of prosperity. Even suppos-
ing such period has fairly set in. the
normal course Of the decline IS sure 10
be punctuated by occasional upward re-
actions. OF special influences al work
today. the publication OF the unfavorable
August statement Of earnings OF Brook
Ign Transit was regarded as the cunlmi-
nation OF unfavOrable conditions for that
stock. The steadying OF the raw copper
market IN London seemed TO affect Anal
ganated Copper favorably. There was
also a report OF a settlement with con-
tending interests The death OF the Ameer
Of Afghanistan was a depressing factor
in the London market. which was re-
hected here. Movements IN the foreign
markets were decidedly confused Con-
soils dropped sharply and the fall in
rerlng exchange az both Berlin and
Paris seemed 10 reflect some withdrawal
Of capital from London; this in spite OF
re-purchases for Paris account IN the
london stock market Interest rates also
declined in London Notwithstanding the
instaHment of subscriptions due on the
new cousols On Friday which amounts to
some sa5. o.. 600 Sterling exchange in New
York continued firm. which was probably
the dominant influence on the decline on
the London money rates
The recent reports OF a coming increas Sc
in the Atchison dividend rates persisted
today. hut the block showed less nrmness
than others in the list and closed at net
decline. St Paul was conspicaously
strong and there was q renewed advance
in the vandsrbilts The late reaction,
however was universal.
RaHrod bonds shared in the Irregular
itv of stocks Total sales, par value.
/ 60 Z75.oo0 United states bonds were al
unchanged on the last cali
r.-ft -,-e-a