The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-03
STOCKS AND BONDS.

New York, Sept. 2--The resumption Of
operations in the stock market after
the triple holiday was accompanied By
increased activity and strength in the
entire list. More than a score OF stocks
established high records. among them
Atchison common. Canadian Pacific,
Cleveland c. c. & st. Louis. Colorado
Southern second preferred. Detroit
Southern, common and preferred. Mis-
siuri. Kansas & Texas preferred. S..
Louis Southwestern. Norfolk and West
ern. Pennsylvania, Baltimore and Ohio.
the Readings, ST. Joseph and Grand
Island second preferred Toledo. St
Louis and Western and common pre-
ferred, Wheeling and Lake Erie, COM
mon and second preferred and the Sloss-
Sheffield Steel issues. Contributing fac
tors were last weeks favorable bank
statement and the strength OF Ameri-
cans varied, London buying on balance
to the extent Of 10000 shares. chiefly
Atchison and Reading.
No specific news was heard TO account
for the improved conditions and general
enthusiasm. save in the case Of the an
thracite coalers concerning which there
appeared to be a fast increasing belief
in high circles. that the strike is nearing
an end. Reading common was the feat
ure. scoring a net advance Of SIS points
and closing at the highest figure OF the
day on transactions aggregating 250ooo
shares. or almost one-quarter OF the
days total operations. The other Read
ing issues made material gains, as did
ali III. nj
son. New Jersey Central and the Fries.
There were rumors that the heavy buy
ing OF Reading common had unwittingly
created a condition savoring Of a corner.
The buying Of this stock came in large
part from houses supposed 10 represent
inside interest. To a great extent, the
Great Western railroad stock was
ascribed to the better outlook resulting
grain rates to last springs basis from
Missouri river to Chicago and st. Louis
points
Railroad relations as reported for July
were in the main satisfactory. Such
properties as L. & N. Union Pacific. St.
Paul Norfolk and Western, Wabash,
Minneapolis, St Paul. and SauIt Ste
Marie. as well as number OF less con-
spicuous roads showed net increases.
Another favorite feature which was not
disregarded by students of the market
was the large increase of exports over
the corresponding period for last year.
The list continued strong and active TO
the end, though the closing. save in a few
instances, were not at best prices.
The only unfavorable developments
were the higher rates for call money, 5
Fer cent being the minimum figure. with
a fractional decline at the close and fur
Their drafts on local banks amounting TO
10000 for the crop movements in the
west and southwest. Much OF the days
business was created 10 pool manlpula-
tion, but there was nevertheless much
public and speculative interest OF g gen
uine character. on the curb Northern
Securities and the new stocks OF the
Rock Island company sold higher than
at any previous time. Rock Island
strength was attributed to heavy buy
ing by the controlling interests Stocks
OF the American Bicycle company were
weak throughout as a result OF the
days developments. the price OF the COM
mon stock selling Of 70 IA as against 81
II last Fridays close. Railroad bonds
were generally higher in sympathy with
stocks. particularly the converubles.
Total sales. par value. <4.631.0 go
United States IS and 3's advanced "a
Per cent on the last call
Closing quotations Of stocks was as
folio-vs-