The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-09-17
RAMPANT Bull RI)VE
Underione of Confidence Is
Felt on Stock Market
ORDERS TO BUY
General encouragement Pre-
walls Throughout Day.

New York, Sept 1s.-A rampant bun
stock market On the first day q trading.
following the death by assassinatioa OF
the president Of the United States. : is
anomaly Boldly stated. that is What &C.
cured today. No one. ever che most san
guine. was prepared for ire action of
the days stock market. Much vas heard
on Saturday. and has been published
since OF the length 10 which the Iazenta-
bic outcome Of the presidents hurt rad
already been discounted fl the operations
Of last week. and especially those OF Fri
day II part. these assertions were made
with & view TO influencing speculative
sentiment and keeping Up the courage OF
those who feared collapse in the mar
ket- Those who made the assertions sin
cerely probably had 70 idea OF the ex-
tent 20 which the recuperative forces in
the market would be Affected. but SUP
pcsed merely that Generalization would
be checked and the market be able 70 re-
sist violent losses. Confidence was felt
N fact that the purely speculative press
ure on the market would be successfully
overcome 70 the extent 20 which specula-
tive selling had already gene. and 10 the
ample preparations ard concerted meas
ures adopted BY the clearing house banks
and great capitalists % protest the
money market and resist declines IN the
stock market. The portion OF the prob
len remaining to Re solved vas the e.
fsct which would be produced up1a bus-
r-rrz
country and among the substantial in
vestment holders o. securities. A move
uent % uquidste on the uart OF this eIe-
ment. actusted By the conviction that a
prolonged period Of doubt and apprehen-
sion vas 10 be faced. would inevitably
overcome the market. in spite of the most
strenuous Efforts OF manipulation. The
days events seemed 20 demonstrate a
strong underlying confidence IN the future
or business and the continuance OF The
country's prosperity. Powerful nauipula-
ton avowedly had its part in TIE DAYS
use in prices. especially the opening
which vas designed 70 intImidate rae
speculative bear element L not only had
that effect. but caused a scramble 70
cover OF the part OF the uncovered shorts
who looked for further decline There
also was an abutment Of orders TO buy 81
prices below the market on the part of
the Investors ard bargain hunters. which
served as a protection against bear az
erosion There was q considerable ele-
ment as well which looked for an open
ing break IL prices and hoped 20 secure
by placing orders % buy on the
market The opening market vas from
20 6 points higher than On Friday after
noon. There was lack OF confidence In .
the early strength OF the market. ard
there were many realizing movements .
Turing the day. but the absorptive power .
q tbs buying proved equal 20 all or
these. and with a steady upiift the trad 4
ing closed active and firm at about The 4
TOP level OF the day The solemn assur- (
ances given by the new president ~ his 4
purpose 10 naintain the continuity Of The .
governmental policies was a relief 20 cap
tails conservative dread OF change.
The bank statement OF Saturday en-
the hope that the treasury r.
lef Of the Money market would prove e. .
,ective against money stringencv. Large
dividend payments today. including q dis
.ributioa OF $1,000 10 Standard on
-tock- holders, made themselves felt l1 the
money market. The day 8 movement
however, was based broadly On tha
that the death OF TIE president
md other unfavorsbis factors n the bus
ness outlook have been sufficiently dis
,ounted IN the movement ot prices q Sc
,uritiss. With promise q betteruezt IN F.
he future.
Except n speculative issues. which
we're active and buoysnt. the price move
nsnt n railroad bonds aid The amount
y business done were rot large Total
lsies. par value. 3.773 co. United States
rev fours advanced Per cent on the
call