The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-05-03
SANTA E HIS LEAD
Outstripped the Union Pacific
in Wall Street
ITS STOCKS WERE ACTIVE
Money Rate Showed Distinct
FirmneSS.

New York Nay 2-Ihe AtchlSO1 STOCKS
took the leadership OF the market away
from Union Pacific today both in point Of
strength and activity. During the most
Of the Gay the volume Of transactions in
the two common stocks ran close race.
but the dealings in Atchison common and
preferred easily outstrippeo those in the
two Union Pacific stocks. heavy pre-
ponderance of the total transactions in
the whole market conferred in these
stocks. There have been very confident
predictions that the first dividend on
Atchison for a half year would &c per
! cent and It is likely that large short
interest was accumulated in the stock oy
those who had better Information in the
expectation that yesterdays IL per cent
dividend would bring out any heavy Of
ferings. As a matter Of lact the offer
iags were very moderate. The character
of today's buying. however, could by no
means be safely attributed either 70
demand from shorts OF TO purely specu-
lative manipulation. The movement was
supposed TO be due 10 a new phase Of the
struggle among the granger trunk lines
TO secure for themselves compensatory
advantages 10 Offset the Burlington deal.
officials or the ST. Paul railroad were
quoted anonymously this morning as
breathing 10th tnr aatenin2s Of building
a new line to the Pacific unless they were
accorded q share in the advantages OF
the supposed Union Pacific absorption.
This corroborates the supposition that
the great granger trunk lines feel them
selves at a tactical disadvantage IL they
have not an assured Pacific coast outlet
as we'll as an eastern trunk line connec-
ton and that all of them viii sooner or
later take measures to secure these adj
vantages. Tie movement OF prices to
day was cited as giving evidence LAT the
buying Of Atchison was for --.e beneft OF
st. Paul and probably also Of Rock
Island There was a disposition TO at
tribute the late strength Of baltimore
and Ohio TO plans for making that road
the eastern outlet, and the late squirt in
Great Western and Chesapeake and Ohio
were supposed to Indicate alternative
possibilities. The declaration Of the first
dividend on Norfolk and Western Of L
per cent was, however, the more plausi-
bic explanation Of the strength OF that
last named stock The feverish and err
ratio fluctuations in Union acific were
amply explained by the new uncertainties
surrounding the present ownership of its
control There were various rumors both
to the effect that the Wander -ut interests
had perfected their control and that lie
Hartman interest had secured the main
tenance of their control. Every move
ment IN the stock and every rumor re-
gardng their control were looKv1 upon
with suspicion by the uneasy spectators
as a device to further the contest, and
underlying all was their dread tnat when
once the actual control s. decided the
high price viii not be maintained The
extreme range Of the stock was points
and the net loss rs. Atchison advanced
an extreme 11ss and closed within frac-
ton of the best st. Paul is - higher on
the day. Chesapeake and Ohio 9is and
Norfolk and Western Is. The stocks in
cluded in the Burlington deal, the Erie
stocks not excluded. were all notably
heavy. The heavy profit taking and
weakness Of the United States Steel
stocks had a large sentimental influence
on the while market. New York Central
was quite severely handled and lost s5s
on the day. Except FOR the few special
]
whole reactiouary. The money rate was
distinctly frmer today, ruling at per
cent earlier in the day, and it was said
that a number Of the banks were calling
loans The sub-treasury figures, which
include the payment OF the great gold
exports show a loss BY the money mar
ket thus far OF 81 600. the payments Of
the government interest OF the blocks Of
government bonds reteen-- yesterday
and today do not figure yet in the state
nent, but It is evident, nevertheless. that
there must have been a very neavy move
ment OF cash from lie interior during
the week to overcome these losses. The
sterling exchange market rad firm IN
dertone and there IS S.. a possibility u
gold engs gements tomorrow for Satur-
days steamer. The closing OF the mar
ket was easy and almost weaK except Tor
the final squirt IN Atchison- Inion Pa
cihc convertible bon-s continued very
active end the bond MARIE. Otherwise
was irregular. Total sales, par value.
y7.ls5o0. United States refunding . cou-
pon declined Is and - 8 = per cent on
the last cal.
Closing prices OF stocks were as fol-
lows