The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-04-18
STOCKS AND BONDS.

New York, April 1.-THE days market
was excessively irregular, showing the
decidedly nervous state Of mind which
spectators have come TO be in who are
long OF stock. as well as the watchful
mood for weak points 10 develop OF those
who are short The battle between the
two elements wsgsd all DAY with vary
ing success. and the market closed with
the issue apparently undecided, although
a review of the net changes Tor the day
viii show that the bears had the best Of
the contest taking the day through The
bulls contested the onslaught OF their op-
ponents with vigor and determination and
had fairly secured the upper hand of
them after the opening drive against the
market. Even after the last dio in
prices, which carried quotations TO the
lowest Of the day. the bulls were SIN
in full array. vigorously supporting
prices here and there and boldly ma nip
ulating advances in a number Of stocks.
The only point OF positive strength in
road division. An effort was made 10
revive speculative excitement by bring
ing up the rumors or a southwestern
merger. During the period OF the first
retreat of the bears, the movement in
this department proved an effective lead
ership IN the market led by Kansas and
Texas preferred. New York Central and
signs Of strength and Sugar, Peoples Gas
and the Smelling stocks made effective
a,uxiliaries in the demonstration by the
bulls. Very little was left. however. Of
these advances after the final reaction.
but the Atchisons were moved vigor-
ously upwards, the common rising Is
over last night, on the final efforts OF
the bulls 10 turn the market Prices
rallied while the room shorts were IN
covered, but went of again on renewed
selling, making the closing unsettled and
irregular, with some stocks at the lowest.
There was a disposition 10 take speculs-
tive profits regardless Of news devel-
opments. It was especially manifest in
the stocks which had been Influenced
most by the Burlington deal rumors and
In Amalgamated Copper There was al
most a complete recovery from these
opening losses apparently on the suppo-
sitiOn that the Burlington directors after
their meeting would announce the compile
ton Of the deal. Their failure TO Go so
was the principal element in the sharp
break. The bull leaders are manifestly
perplexed over what is to take place Of
the Burlington deal as an effective infiu-
ence in fomenting speculation when the
matter is finally disposed of. Today s
developments did not seem 70 cause
doubt Of the practical contamination Of
the plan, and in fact. heavy prOht-taking
was TO be looked for even had the mat
ter been announced. II is too much today
that the Burlington episode has lost its
influence TO attract speculative buying
so long as official announcement of the
matter is withheld giving room for ru-
mOrs and surmise over the plan. The
threatened strike Of iron and steel work
ers was a continued influence towards
depression and United States Steel stocks
were heavy all day, ruling a fraction un-
der yesterday throughout The weather
bureaus weekly crop report showing re-
tarded developments by reason OF cool
weather may have had some influence.
But the movement of the market was
principally due 10 technical causes. More
favorable money conditions were ignored
The gain by the banks from the sub
treasury which has already reached 81
600 coo this week and the arrested outflow
OF cash to the interior give pretty good
assurances OF a favorable bank state
ment on Saturday. The sterling exchange
market was rather soft, Notwithstanding
the increased supply here Of loanaole
funds, so that the outflow of gold is pref
" certainly deferred beyond this week.
The range Of prices during the day was
extremely wide. reaching TO 4 points
in nearly all of the most active stocks.
The bond market continued active, but
the price movement was irregular. Total
sales. par value, $4,000. United States
old tours registered declined 4 and cou-
pom Il per cent on the last call.
Closing prices Of stocks were as fol-
lows;