The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-17
STOCKS AND BONDS.

New York, april Is--The stock market
gave evidence today that the speculation
sIiu retains an abundant vitality but
nevertheless the tone was exceedingly
feverish and az times very nervous Al
opportunity was given during the morn
ing 70 see the u1wisd0Ta OF speculative
leaders n having attempted 70 subsIi-
tIte q lot OF low grade industrials stocks
for the high grade railroads as leaders OF
the market. The violent relapses from
yesterdays manipulated advances IN
some OF these stocks caused considerao ole
disorder in the market, during the early
trading. The decided weakness CO The
[. s Steel stocks On account o. he re-
ported threat OF the president o. be
Anal amated association 10 prcclpitste
e strike had III unsettiing effect al
through the industrial list II was prov
ed once again that the industrial stocks
are Influenced by sach variety Of caus-
es and conditions that IL Is hopeless 70
induce any Uniform movement III al of
them = number OF the high priced n
dustrials continued 10 show strength. no
Jably, sugar and amaigamsted copper
The dealings ia the latter stock were on
an enormous scale and the prise move
ment violent and eTratic. After the
opening bulge realizing carried the price
haif below last night. Later in the day
afSer the publication OF the proposition
for absorption Of lutte and Boston and
Boston and Montana the stock was run
up Al from the lowest 10 I2ss. TIE last
price was l25x Z net gain ~ culv =
The general market proved rather indif
ferenL 20 the movement OF the specl1ILies
and there wa sa general decIininy ten
dency, Rock Island especially falling 81
under last night and a large number OF
prominent railroad stocks from I TO 2
points With the revival OF The r-tmors
that the Burlington plan Of merger
would certainly be published tomorrow
that stock. Northern Pacific and the Erie
became extraordinarily buoyanJ again
and there vas q sympathetic recovery ia
the general market The Kansas and
Texas stocks were another center -
strength IN this movement Burlington
touched Is5, q recovery from the lowest
OF II and Northern Pacific selling *
dividend OF 1 per cent, rose By violent al
vances 70 1854. an extreme advance OF
II. The Erie stocks rose from ? 10 G
points. The prices or al OF these stocks
except Erie second preferred made new
high records today. Notwithstanding
the sympathetic recorsries in the general
market X VIII be seen that the days net
changes are as a rule OF Insignificant d.
mensions. The gains by the banks from
the sub-treasIry owing 10 the high level
of pension payments and the buying II
AlL-tAS ~ the cr-LtEArt4r VI III LL--l-f4LF
AFFORD UlQuest0ned relief 70 the money
market. The rise in Chicago exchange
70 l0c premium also reflects the turning
point in the interior currency movement
IN favor Of New York. But the significant
fact n the days money situation was the
quick response Of the sterling exchange
market to the easier conditions here, Civ
Ing grounds for the conjecture that any
increase in the available supply OF funds
Nzrv Work 70
purpose Of the coming issue OF cO1sois
~ is important 10 remember that this
government loan. which is estimated at
$3.50. COO 90 as a minimum. is IN excess OF
any loan placed since the French indem-
nifty TO Germany. The London money
market Is ct present not only heavily
indebted TO the bank OF England but the
amount OF French and American capital
at interest in London is Of unprecedented
volume London solicitude over the for
eign exchanges is thus easily explicable.
4 he constant growth OF the trade balance
indicate the increase CT this country
car ital resources for investment. But Il
is Obvious that the placing o the invest
meut is purely a question Of relative in
terest rates The extraordinary financial
operations in progress in New York were
again reflected today n the clearing
house exchanges. which reached the as
aggregate Of yf45. "a. %, compar-
e. with the previous record daily clear
ing Of }4S7. ~. $50 on one day Of last week
q peratfons in connection with the L. 5.
Steels finances are supposed 10 account
for these figures
The bond market became frregIar today
On realizing in speculative issues Total
sales. par value, 5. 309.000-
United States refunding *. declined u
and new Is, advanced 4 per cent OF the
last call.
The closing prices On stocks were as