The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-27
WALL STREET STOCKS
Yesterdays Market More Or
DERBY Than During the Week
BEARS SOUGHT COVER
Bulls Sought Only to Hold
Prices Firm.

New York, April 2s-Today's stock mar
ket was decidedly more quiet and orderly
than on any day during the week. There
was q few stocks which showed positive
strength practically without interruption.
ali day. and there we're no points OF acute
weakness nor any period OF a general dis
position TO sell. except for the opening
dip IN Amalgamated Copper and Aneri-
can Smelling. due 10 the legal measures
taken 70 Illustrate The absorption OF other
properties contemplated by those cOmpa-
MES Owing to tomorrow holiday on ac-
count OF the removal Of the board room
apparatus from the present building 70
the temporary quarters n the Produce
exchange, there was a disposition 10 cur
tail speculative ventures and 70 close Up
accounts. From the tendency OF the mar
the ones who were most inclined 10 cover
their contracts. The bulls were not ag-
gressive. but their tactics seemed Inclined
rather 70 protect the market and hold
prices firm There was some confusion
about the board room owing 10 the prep
aratiOns for the moving. and this in itself
had the effect OF lessening the trading.
The principal strength in the market per-
sisted IN about the same quarters as for
some tine past. namely in the Changers
and the PAcifcs. Northern Pacific was
most largely dealt IN and rose an extreme
81, but Burlington advanced ~ 10 a rec
ord price Rock Island rose "a and
Northwestern ~: Pennsylvania selling
ex- rights and Baltimore and Ohio con-
tinued strong. Union Pacific western was
not as active as on previous days OF the
week, and there was large realizing going
on in IL all day, but the stock was held
above last night during the greater part
Of the day. although Il closed shade n.
Among the specialties Sugar rose 37s. Tc-
bscco "a, Colorado Fuel "a. General
Electric 81, New York Air Brake 10
points, and a number OF other specialties
from 1 20 points. The Colorado South
ern stocks were notably strong at adj
vsnces OF rs to 81. The confidence that
tomOrrow's bank statement viii make
strong showing had much 10 do with
sustaining the market. The receipts OF
cash from the interior have offset 10 a
large extent the absorption BY the sub
treasury, including the payments for the
gold exported so that it is expected that
the banks win not lose more than half
a million dollars on all accounts Next
week the money market VIII have the
benefit OF the payment OF May l govern
melt interest. which amounts 10 about
s.. SO. 90 The fact that the foreign ex-
change houses allowed the day 10 pass
without the expected engagement Of FUR
Their gold for export was an influence n
the hrmness Of the market
The railroad bond market continued
strong. with the Union Pacific convertible
bonds stiu very prominent Total sales,
par value. S6.7f0. Go0. United States refund
ing twos advanced 4 per cent on the last
call. Sales on the New York stock ex-
change for the FIVE days this week during
which the exchange was open for bus
mess aggregated $3.50 go shares. COM
pared with last weeks sales OF l0.0I6. 100
shares, which broke all previous records
for a fun weeks business. On Monday
OF this week the sales OF all stocks reach
ed an aggregate OF 25s2.500 shares. ex-
ceedlng by several hundred thousand
shares the previous record for one days
business. On three out OF the i've days
this week the sales have exceeded two
million shares. On Wednesday the sales
Of Union Pacific alone were $3.50 shares.
far exceeding a days sales OF a single
stock IN the history OF the stock ex-
change on Tuesday there were passed
through the New York clearing house
checks representing exchanges OF S545.-
937. 10 which Is more than & hundred
million dollars greater than any previous
days ciearings-
ne statement OF these facts gives most
competent showing OF the unparalleled
proportions OF the present speculation n
slight idea Of the stats OF feverish ex-
element among spectators and the over
strained condition among hosts CT people
whose duty IL is 70 transact and record
and adjust ali this vast voIue Of bust
ness. The speculation has been decidedly
nervous az times. owing 10 the sharp
breaks IN prices OF some Of the most ac-
tive stocks. The failure Of the general
market on Wednesday 70 respond 20 the
phenomenal strength and continued de-
msnd Tor Union Pacific especially caused
uueasiness and dread less the powerful
pools OF uilllonsires, who have been
credited with the leadership OF the bull
market had been selling their holdings
under cover Of the movement n Union
Pacific 10 take their holdings under cover
OF tEe movement in Union Pacih 70 take
profts. but the buying on recessi0ns was
50 constantly renewed and the markets
absorptfve power proved 50 enormous and
so confident that the desire 20 sell Eas
checked and prices termed upward with
the result that bear operators who had
sold short early "a the week were driven
% cover and their urgent demand help
ed prices on the rebound The principal
cause OF the occasional dtsq1iergde IN
The market was the fear q impairment
o. money market resources, which might
restrict the liberal credits which are the
fostering cause Of the continued s2ecul@-
tive buying
closing prices OK stocks we're a. fol-
lows.