The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-12-25
PRICES LOWER
AT OPENING
Fluctuations Were Few and of
Little Consequence.
BROOKLYN TRANSIT RISES
Said to be Passing to Control
of the Pennsylvania.

! New York, Dec. 24.-Light selling or
ders carried opening prices down gener-
ally a small fraction. Kansas City
Southern lost two points. Business was
on a very small scale and only few
stocks were traded in.
There seemed TO be no general DISPOSE
ton to take stocks at the opening at con-
cessions. Missouri Pacific, Texas and
Pacific. Denver and Rio Grande preferred.
Great Northern preferred, New York Cen
tral. Rock Island Chicago Great West
ern preferred 3. and Tennessee Coal fell
a point or more below yesterdays close
and numerous other important large frac-
tons. Some support was accorded Read
ing, Louisville, Sugar and Brooklyn
Transit.
Strength in the local fractions, led by
Brooklyn Transit. rallied the general
market but the response was moderate
on account of the high rate ruling for
call loans Brooklyn Transit rose over 5.
Manhattan rs; Metropolitan Street Rail-
way 19s; Sugar rs. and Louisville and
dressed Steel Car about point over last
night. Anaconda lost 124. Bonds were
irregular at noon.
The buying movement eliminated when
the general list recovered to yesterdays
final figures Trading became almost
stagnant. but the top level of prices was
well maintained all around. st. Joseph
an Grand Island first preferred fell off
OIL a. cSir If
the dividend
Fluctuations were few and of little con-
sequence in the afternoon dealings.
Brooklyn Transit reacted a point on
profit taking but soon made up the loss
and Tennessee Coal recovered an earlier
loss of as much. North American rose a
point.
The strength of the local fractions had
a sentimental effect on the whole list.
the rise in Brooklyn Transit extending To
over points. No definite explanation Of
the rise was forthcoming, but old rumors
had renewed circulation of a passing of
control to the Pennsylvania. Sugar also
was well sustained at recovery from
yesterdays sharp decline. The most act
i've period of the trading, however. was
maintenance of the call rate at between
and 10 per cent was the depressing in
fiuence. The blockade restriction enforc-
ed by the blockading powers at La Quay
IA on the steamer Caracas occasioned
some uneasiness though of little direct
influence. The announcement OF wage in
creases by the New York Central and the
Atlantic Coast line called renewed atten-
ton to tendency which is general
throughout the railroad world. The pass
ing of the dividend on st. Joseph and
Grand Island first preferred explained
yesterdays late break OF 81 points in
that stock. to which was added 2ja point
decline today. Canada Southern was also
q sufferer from the reduction in its divi-
dend rate. The great influence of these
two cases was not encouraging. The rise
of 12 points in Cleveland, Lorraine and
Wheeling was unexplained The stiffness
of the call money rate and a hardening OF
the time market were not effective in
checking the rising tendency in sterling
exchange or the falling tendency in New
York exchange at interior points At
Chicago the New York exchange fell
back to par after having ruled at 40 cents
premium last week. More than half n
million dollars was again transferred to
New Orleans today. but $4,000 was paid
cut by the sub-treasury on transfer of
Alaskan gold from San Francisco. Yes
terdays heavy customs collection coupled
with the falling off in pension payments
has resulted in wiping out the sub-treas-
ury's earlier contribution TO the money
market. Money is also rising in London
and there were continued large transfers
by cable to that center today.
There was some distributed activity in
the bond market but the price movement
was rather Irregular. Total sales. par
value. S1.0S0000. United States new IS
advanced x and the old Is - per cent
on last call.
New York. Dec 24-The stock market
closed firm today at the top level Of the
day. with net gains in few of the prom
inent railroads and specialties reaching a
point or more The days movement Of
prices was not of much significance and