The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-03
STOCKS AID BONDS.

New York. July 1.-The stock market
was extremely dull today and the only
notable activity was concentrated In
few stocks. In some OF these there was
no Developments TO give an ostensible
cause for their strength. In others there
was an appearance Of manipulation with
the purpose OF sustaining the gsneral
market. The speculation was light ow-
ing to the large operations in progress
in the money market on account OF the
July settlement. and of syndicate oper-
ations. There were large transactions
all day in Missouri Pacific. which solo
ex the semi-annual dividend Of az pen
cent. but the price range all day was
restricted to 4 fraction. Louisville was
in active demand at the extreme ad
vance of 3lsc The movement seemed
to be based upon the formal announce
nent that the purchas in bhalf Of the
company OF the Chicago, Indianapolis
and Louisville was in active effect. Col
orado Fuel made another squirt, which
was opposed TO be due to a struggle for
control. but which incidentally involved
forced buying by distressed short inter
est. Short covering was also an element
IN the advance Of sugar and the rise ia
the price Of raw sugar also helped thar
stock The buying of Amalgamated Cop
per was attributed 10 a more confident
feeling over the trade outlook The
United states Steel stocks were firm.
because Of the increased net earnings
report for the last quarter. The sta
tistics OF iron and steel production for
the past year issued by the American
Iron and Steel association were re
gardeed as an astounding exhibit Of &C
tive and prosperous condition Of the
trade The steel stocks. nevertheless
met accord in able volume OF selling AZ
the advance, a large portion OF which
was for London account. The statement
OF the May net earnings OF the Pennsyl-
vania system. showing an increase OF
over a million dollars. compared with
May Of last year was taken as an in
dex OF the large profits accruing 70 the
soft coal carriers as a result q tn
anthracite strike. The May statement
OF the Norfolk and Western corro5orates
this showing ard TO the frmness OF the
soft coal carriers. in which. however
Pennsylvania shared but slightly.
The early frmness Of the local traction
cLaNAh Was lNcAttttA ~ AA4r lti-t t-ei-
net earnings reported by the Brooklyn
transit system and hopes OF large prof
its from the coming holiday trafhc. The
rate for call loans showed further ease
today. but foreign exchange advanced
The London money market showed al
diuonal ease but pressure was trans
mitted from Paris. where there was GA
abrupt decline u two centimes in the
leaning rate Yesterdays money mar
ket operations resulted in balances Is
pc met between the clearing house banks
this morning Of 1850 sg7. which ls Il.
largest on record for that item. Th-
payments today by the undertaking
syndicate fer the Burlington purchaa.
released large sums 20 the market ana
the disbursements ot government inter
est AFFORDS relief from any sub-trlasurl
Requirements. Today there vas paid cut
hy that Institution on account q ~
klondlke gold Sea 90 the frs q tbs
season. Advfces are received - ar "a,
Sitiouai haif million 20 BE- received from
the same source this week Ths mar
ket closed dun ard easy.
The bond market closed dull ard =
regular Total sales. par value 80.
err Uaited States h5-ds were al ar
Changed or TIE last call
The closing stock quotations were