The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-10-18
STOCKS AND BONDS.

! New York, Oct 17.-Today's stock mar
ket was again quite as conclusive as ar
index TO any consistent speculative senti
ment Confusion and hesitation were the
only feeling revealed. Although prices
/ covered a considerable range. and some
i cases several times, the net changes OF
/ any consequence Will be found very few
( The same brokers acting TO all appear
ance for the same interests were on diff
ferent sides OF the market at different
times OF the day. This was especially
true OF the opening in the Southwestern
railroad group, in which heavy selling,
seemingly for inside interests, was fol-
lowed by even heavier buying from the
same sources. The midday weakness in
this group interrupted a hardening ten
deney in the market, as 1t did yesterday.
The feature Of the morning dealings was
the marking up Of a number of high
priced investment railroad stocks. This
movement was prompted by the sales
yesterday of Lake Shore ar 300, which
were confined to two transactions. and
the alleged raising of the bid for Chicago,
Burlington and Quincy to 211, which
proved on investigation to be wholly fic-
titious. On this rather slender basis
there were hung various sapient disserta-
lions upon the significance of the pres
sure OF capital thus revealed into the
high-class railroad stocks and the ex-
ample was taken up this morning posi-
bly, by investors and possibly by the in
geniOus professional operators who have
been seeking to awaken speculative in
terest in stocks. The movement had lost
much OF its force by midday. Much more
impressive was the sudden activity in
Northern Pacific preferred, after period
Of practical stagnation lasting ever since
the panic Of May 9. Not only was the
demand for this stock strong, but the
supply was extremely liberal. many 1000
share lots being dealt in, and the days
transactions reaching a considerable to-
tai. Among the prominent sellers were
brokers of ten employed by the capital
lists whose jealousy guarded control Of
the company is known to be maintained
by holdings Of the preferred stock. The
Incorporation in Iowa of Chicago, Bur
lington and Quincy Railway company,
stated to be for the purpose of acquiring
the Chicago, Burlington and Quincy
railroad. coupled with this movement in
Northern Pacific preferred, caused new
attention to the recently prevalent re-
ports of progress in the plan of settle
ment for working out the Northern Pa
cific tangle but the influence of this de-
velopment did not extend beyond st.
Paul, Great Northern preferred. Union
Pacific and Southern Pacific. Amalga-
mated Copper continued active. but the
belief grows that this stock is Influenced
at present by a speculative dual between
two professional operators, rather than
by the actual conditions of its finances
or the trade. The stock was firm and
strong and shows a net gain Of IL.
Sugar was another prominent feature,
and gained for the day ia. The cover
ing of outstanding shorts was an import
ant influence on the latter stock. The
ant influence on the latter stockk.
The weekly exhibits of the great Euro
pean banks reflected clearly the strained
conditions which have developed in the
Paris money market. while the condition
of the Imperial German bank showed
material and unexpected Improvement.
otherwise there was no marked change
in the money or international exchange
situation.
Railroad bonds were quite firm OF
good volume of business. Total sales,
par value. 1856. 900. United States threes
advanced = and the fves coupon declined
= per cent on the last call.
Closing prices of stocks were as follows: