The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-08
St Louis
STOCKS AND BONDS.

New York. May 7---Today's stock mar
ket reflected an unayailing effort To con-
test the toward tendency. After yester-
days revulsion from the semi-demoraliza-
ti0n on Monday some reactionary tend
ency was natural 70 restore the nominal
/ balance Of things, but this tendency was
reinforced by the decidedly skeptical sen
tiInenJ over the prophesies OF the anthra-
cite labor settlement. These prophesies
continued very confident from sources
with every means Of authoritative infOr-
nation, but the fiat contradiction of the
rurors received from Scranton. where
the miners del gates We're IN convention.
caused confusion and uncertainty and a
suspicion that the Wall street Outgivings
were in the nature Of tips designed 70
influence the stock market As a matter
Of fact. Readins which was accepted as
the index Of the anthracite situation. was
lifted a shade above last night. The re-
ports of the condition of the crops and
the weakness of the srain market were
d help TO The grain carrying railroad and
they made q good advance in the course
of the days session. The continued az
cressive strenctht of the l. & y and
Chicago. Indianapolis and Louisville and
various smaller subsidiary lines gained
additional influence from the response in
Southern Railway, which was cOnsid
cred significant of close relations in the
whole southern group Nashville. Chat
tanooga and st. Louis. Chicago and East
ern Illinois and Evansville and Terre
Haute. all shared in the movement Iili-
nois Central was a conspicuous factor
and was heavy throughout falling at one
time ~ The advice in Kansas City
Southern was attributed 70 the forna-
ti0n of pool IL the stock. All .of the'
strong points however. yielded u the
liquidation during the last hour. caused
by the relapse IN Reading 10 p. under
last night. Practically all OF the gains
were wiped ont and the level of prices
carried below last night. Realizing sales
We're much in evidence in Chicago, Great
Western, which lost ~ Of yesterday
81. point gain. Tennessee Coal lost over
three points on account Of the annual re-
port. which vas CONSIDERED discouragins-
United States steel stocks did not es-
cape the depression Notwithstanding the
extraordinary exhibition Of the last years
transaction By the company The money
market was called easier today. the max
imum leaning rate reaching Is per cent.
with 2 subsequent recession 10 six per
cent. but the line in the foreign exchange
rate ceased ia response to easier money
and discussion was renewed OF gold ex
ports Current receipts Of / * y. stocks
from foreign holders are very large and
represent requirement for foreign pay
meats g mere are reports OF large loans
during the week made in The stock mar
ket for account Of outside Institutions
bat it is werthy Of notice that &H.o4
il currency has gone 20 New Orleans
this week anl View York exchange at
Chicago ruled 1c discount Notwith-
standing the relief afforded by the pUrg-
Ing Of the unhealthy SPOTS in the mar
kst there is sull some tendency % a
vague feeling that there may be some in-
!.
wnlch collapsed last week. \ symptom ~
this feeling IS found IN revival 81 dis
cussion of soue restriction on III loan
lng POWERS u the trust companies and
additional requirements upon them Tor
maintenance If cash reserves. The mar
klt closed heavy The tore 81 the bond
market weakened III sympathy vita
sto ks Total sales nar value- s. 1858 -e-
I-nte5 states bonds al unchanged on
the last cali