The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-31
STOCKS AND BONDS.

New York, Jul 30.-There was a further
contraction Of dealings in today's stock
market and decidedly hesitat ting and
iuctuating tone during the day. Profess
sionaI traders were watchful for a turn
in the tide OF the market and kept prices
huctuating irregularly over a small range
/ during the greater part Of the day. There
were no developments Of great import
ance. The additional enga gements Of
/ gold had been fully executed and in fact
turned out TO be rather smaller than had
/ been feared. There was evidence Of con-
/ tinued liquidation on a large scale during
/ the forenoon. which was attributed TO the
+ western party. whose operations have
+ come to prove a powerful influence in d.
/ recting the course of large speculative
following in Wall street. The cessation
Of this liquidation was followed by
scattering demonstration Of strength. The
St. Louis & San Francisco securities were
very buoyant. which caused a revival of
rumors that they are to be taken in under
the Rock Island plan The semi-oficial
limitations Of the plan OF allotment OF
the new securities does not provide for
this absorption. The movement served,
however, 70 Offset TO some extent the de-
which has been caused by the discussion,
of the reports of the Rock Island plan.
The rise IN Chicago & Eastern Illinois
and in Chicago & Alton and the firmness
of Illinois Central seemed TO be related.
The abrupt rise in New York Air Brake
is characteristic Of that stock and was
without much sentimental effect else
where. The feverish tone Of Colorado
present control Of the company. as it will
be revealed at tomorrow's meeting OF the
stockholders. II is reported that some of
the shorts on this stock have bought con
vertible bonds for protection and the fact
that the rights Of conversion cease to-
morrow may have been an incentive to
buying of the stock by shorts Some OF
the statements of net earnings for July
serve TO further emphasize the effect Of
Atchison's decrease reported yesterday.
The increased cost of operating showed
tendency to encroach upon increases in
gross earnings and in some cases to prac-
ticaliy wipe out the gain IN gross. The
tendency was perceptible in Wabash in
Union Pacific and St. Paul But this in
fuence was dissipated in the revivlng ef-
feet Of the late rally, in which all OF
those stocks and particularly St. Paul
shared. The market became somewhat
excited in the last hour on the varying
reports current Of the scope of a St Loui
* san Francisco and Chicago & Eastern
Illinois consolidation The closing. how
ever. was irregular The generally IA
vorable tenor of the weather bureaus
weekly crop summary and the favorable
weather reports TOT today were helpful
factors IN the market. The continued
tranquility OF the money market. In face
Of the gold exports. had reassuring e.
feet upon sentiment The sub-treasury
made q liberal disbursement 10 the money
market. and advices from Seattle were
received of a deposit of $1,000 0o sold
there TO be credited TO New York.
Bonds We're dull and irregular until the
late rally in stocks when prices sunened. (
Total sales. par value, S2,5S4. 900.
United States old Is. registered, adj /
vanced = on call.