The Wichita daily eagle., 1901-06-04
WALL STREET STOCKS
Professional Operators Ham
died the Market
SUGAR MARKET ACTIVE
Bonds Were Active; Exchange
Market Easy.

New York. June &speculation IN stocks
was again very animated today and the
dealings showed a substantial expansion
over those OF Friday. Both in character
and volume OF trading the market bore a
close resemblance 10 that IN the boom
period. Strenuous efforts were put for
ward by powerful financial interests 20
give it that appearance There was an
increasing demand ond the part Of the
outside public demonstrated through the
commission house order executed IN the
market, but the market stin continued
for the most part IN the hands OF protes-
sionsi operators and the larger specula-
tive interests. Much OF the 5uying IS
predicted upon the confident assumption
that the powerful financial interests OF
the country have reached a determination
by tacit agreement 10 advance prices %
higher level again and to almost rerew
the speculative conditions prevailing be-
fore the upset II the second week OF
May Buyers Of last week were very
heavy sellers 70 take profits today, and
this selling caused a very general reac-
tion after the opening advance which
was fairly common 70 the whole list
Some OF the stocks which were most con
spicuous in the opening advance did Dot
do more than hold their own IN the later
dealings Others continued 10 advance,
while stfl others. which we're strong
early last week. ard then reacted. re-
newed their strength IN the late deal
ings- After the first general reaction rhe
policy was adopted or advanced first
one and then another stock IN sequence
Realizing was continuous under cover OF
these movements, but ths net results of
the days trading was substantially
higher level Of prices At the eciose after
q day OF great activity and variety the
steel stocks were cousDicuousiy under
pressure OF realizing after the opening
rise. and closed OF the down grade with
only fractional gains. Very consp lcuops
strength was shown fy St PAU. Union
Pacific. Southern Pacific. Missouri Paci6c
and in the dnal dealings the Readings ana
Eries There was a development q great
speculative activity II sugar. which car
ried that stock lp an extreme points
srnaigarnated Copper gained sis. The To-
bacco stocks. Colorado Fuei. CorsoiiG
Gas. General Electric and Pacs1c Man
rose from 70 - Sugar was Affected
bv the renewed conviction that A. aneeF-
standing existed between the competing
interests II the market az large there
vas large speciac news 70 account ios
the artivlty and strength heyord the gen
sraI belief that the agreement arrived a
IN the Northern Pacific dispute CARED
with x an assurance q concord among
al The great railroad powers. northern
Pacific stock sold 20 ID and - the clos-
irr vas 10 I'D and 10 asked Only 100
shares were 6eaIt i1- ore q the r1zncrs
current vas that Ecrthera Pscilc stocks
would be exchanged for bonds o. q
Jointly guaranteed ~ Union Facsfc, s.
paul. Great Northern ard Chlcaso ard
hresteru TIE speculation V-as
largely based on general corsicerzticnz
suca as that tine had dsuozstrstea that
the stock market panic Rad elec--c 70
impairment % the prosperous clsi1eas
conditions So that With Speculative ioEses
adjusted 2 renewed adTarce Tzs y order
The urirsrzsred earning power q proper (
ties ard tEs rareTeE se~zE1 llStin1 q 1--2-
stal Il r argued. poirt % Ts-sVet o. I
rrzrz fo- securities. Tbe be.8ef -e prsFE- i
lelf that SIN further i1rTe -sac 1us-- 4
r.er-s y t-se relations z1t hoi111gs q tbe
rreas rallrcad sTstsr1s boxing toTzTlf 4
additional sfs5i1ity q cc11 .sto1s &rs I'll /
81 c5nternr sstion. Ard = - arE-ec t1sr I
TIE panic 81 ltsel1 hay ravs facilitated 4
e-gr-s q cc-certrate hci1irEz q rsll-
rosd sec-1rst.ss VITA these sz1s T. view.