The Wichita daily eagle., 1901-05-07
STOCKS STILL BOON
No Let Up in the Speculative
Advance.
FRIDAYS SHARP REACTION
Is Looked Upon as Simply a
Speculative Dip.
FRIDAYS SHARP REACTION

speculative advance was renewed today
with great violence, the speculative hold
ers Of stocks apparently having been
entirely reassured by the check TO the
reaction which was achieved On sat
urday. The urgent selling which was in
evidence Friday afternoon not only On
the part OF forced sellers whose loans
had been called or whose margins had
been wiped out but OF those who feared
I--at they would o., was entirely lacking
this morning Those who still had their
stocks held them with determination,
while those who had came TO GRIEF seem
ed 70 bs returning II vast hOrces 20 make
good their losses. reinforced by an in
creaSlng tide or new speculative re2cllon
was nothing more than a manipulatlve
dip. designed TO shake OF weak holdings
which are & menace 10 advance and 10 az
ity 70 continue their buying for control
70 better advantage and az less expense
There was 10 sign or umidlty lest the
same experience should again overcome
the weaker class of horders and the WaH
street district gave ample evidence that
class OF SpeculatorS was again taking an
active intrest in the market The effect
OF the saturday market seemed 20 nave
had time over the Intervening Sunday 10
gain great force, and IS q result there
was heavy congestion OF urgent buying
London prices before the opening here IN
dicated that large buying orders IN the
American department has been executed
there, for London account before our
opening and there vas reported from
London growing excitement on the part
OF EuglaSh spectators Themselves over
the American boom Large numbers o.
stock brokers found themselves eagerly
bidding against each other when the
cha1rmsns 5 hammer fel On the New York
stock Exchange The result was vol
stile upward squirt Of prices which has
scarcely been eQualled I many opening
during the present boom The upward
spuTt OF prices proved IN many cases TO
be the highest Of the day although there
were constant recOveries and reactions in
the general list all day. Opening sales
were Loco 70 = 90 shares IN separate
stocks al extreme advances % from TO
IA points and at prices in sor1e instances
varying as much as points on simul-
taneOUs sales The Changers. Pacirc,
Trunk Lines and SOuthWesUerns proved
10 be the most active stocks. There was
q continued dearth OF news 10 account for
the strength OF the market IN Northern
Pacific in particular.
Consolidation continued TO be the nal
moth word TO influence the trading. There
wa seven z wild rumOr that ali the great
railroad interests whose supposed contest
for control have caused the recent vi0-
lent movements IN prices. had come 70 a
compromise and were about 20 cOns0ii-
date all the principal railroad systems OF
the whole country. This narrowed down
gresS IN the southwestern merger and
OF further steps towards the adj JuSrrne TT
OF relations n ire nDrLLFF ieEerE EllLE0ell
deal The last named rumor was the
only thing 10 account for the sensational
movement in Northern Pacific which In
its range of suddennes, exceeded that OF
any individual stocks which have been
singled out at different times recently IS
centers CT attention Northern Pacific
made an extreme advance 0f 3 points
With no very important reaction on the
way up. Long strings Of one thousand
to six thousand shares blocks we're re-
corded, but the successive prices changes
Al = . H-
opening. when the second sale was made
at a jump OF ~ points over the first sale
which was 4 points over Saturday, The
movement IN Canadian Pacific was appar-
emily sympathetic and reached Al ez-
treme Of 49, The Duluth and South
Shore and Atlantic common and preferred
stock rOce about 3 points each and Min
neapollss St Paul and Saulr ste Marie ~
and the preferred following Canadian
Pacific. Aside from these there were few
stocks which exceeded the opening prices
among them the Atchison. which rose an
extreme e1s points ana 3 number or less
prominent stocks. Pittsburg and @. G.. &
St L So. Minneapolis and ST. Louis q.
and the coalers generally from IL TO 3.
None Of these gains was fully maintained
and in fact profit taking was IN steady
progress all DAY under cover OF the
strength in individual stocks The q S.
steel stocks and especially suffered trcTn
uQuidatiOn and closed practically un-
changed from Saturday s closing This
had z couureracu-g influences on the spec
=
rate also was a deterrent irduence al
though il was lightly explained by bull
enthUsiasns that the brokers paid the
higher rate because they were too busy
90 haggle over il. The call money touched
I0 per cent in the afternoon, but fell back
after the most urgent demand had been
ciac was very. concentrated single house
being credited with the purchase ot as
muCn 2 s 00te shares IL Is a house p ll-ch
has been prominent IN all the recent no.
sre Hrr az ~
DAYS business was vel over 100000
shares. but was q half million less than
on any fun days trading last week
Bonds were compare rarIvely quiet. outside
Of the price movement il -he CcnV ertihle
bonds The general tone was strong
Total sales. par value. S.Illeo.
[. : new As. declined g. the g, = and
the CID 4s = per cent on last call
The Ieaolng stocks closed as follows
Atchison .-.-.--- SIS St Pau ..--.----ls ls5i4
do pfd --.-..- l6 do r1d ----.---- 10
Bait & Ohio .-1ilaa So Pacific ---.-- 55is
Can. Pacilc ---.llQ 50 Railway
can Southern % Pro -.------. e1-s
Chssa- s. Ohio Texas 3 Fac =
c. g. ". .-.... ia-ls Union Pac- .-.--l-A-s
c. 3. & . -.-- d. pfd .-..----. @iie
c. l. a. 81 l. 30 u .'f alss1 .-----.-- y
do nd --....- e1 r-I --------- 81
o & E I ...--.-,is W g. J. ?. .-.- is
chi Ncrthwe es-- ~ Do --d pt1 14-z
G. r. x r. WiS. Central ..-- q &.
G. c. 81 -. 80 81 ADAMS ..-----.s---1fl
Colorado %. s.. --s American ----..-lts
DC Isl pEa .---- = q = r------------ p
do md nd ..--I-7iz Wells Fargo .---l--ll
Del & Hud ..-E4 Anal Copper -1
q l. & ". ... 5Z-t Am Tobacco less
u s. Rio G. . So Anaconda n c. 5f4
d. Dfd .-..-... sl-z Brock P T. .4is
Ere .-----....-.- II -ofor0do F. s. Ii21
Go lsr pt1 .----lee-r Con 91a-llc 1lls
Hooking Nal---- DO ptt .----..-. La5ic
Illinois Central .1457 Gen Electric -1-s1z
Ioza Cen. .-.--- - Gluccss sugar. 5s'
do I'D ...-..- f1-s Int Paper --.-.. -
u. =. & ". = GO fIl --------- IS
do ufi .-...--l43 .Laclels Gas $500 s.
Lake shore ..--11S7s Nat Biscuit .--- ss-
7. g. n --r-s GO r-l -------- i
N7rcatrs1 l. --llu ~ l-sa1 ,----- 8 &
Ier- s. Gy- ~ \ AZ sax -------- 49,
Mexican cen DO pfe .--------
N1. Pacific ..--llla. n American 81. sss
hi X & T. --- 7I. Pacific Coast IS 81
do PA -------- 1ts-l- -----.
y J. CentraI-.1z6 Pee. Gas .--.-.-. .liss,
\ T. Ce1traI--154as Press steel Car s.
do rF6 ..---- s. Pullman --...---S
No. PaciEc ..--t--s stan. p 4 T. .-lt7-
Pennsylvania .-15s Tenn O. e. ~
do isr r-1 ----- ~ r : L-zr1er p
- I'D rfl - 5.44 60 rf3 --.--- -.
3 E E r. s. Rubber --. ---
a. ss- I'D 500. s. d. p11 ----.-... -
So rs nd .--- 81 81 es--rr Union -
: Z s ~ e : Stee. ---.-. 80.
dc ptd .-------- So
Ns1 York Money Marks-
Nez Tors zav s-No1er oE czu e-u
zt pe- cez-, rri=e uer-anrla rs7er ~
~ PER cert- sterling exchange easier
WtEE ac-la- sSa p ra1Hzrs bis ~