The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-02-01

New York, Jan s1.-The operations in
the stock market resulted IN discourage
menf OF operators over the persistent de-
termination OF the outside public and the
large money interests to refrain from
speculation in stocks. The failure OF
successive news developments 10 induce
any interest in the speculation causes IN
creasing neglect even OF the part OF pro-
fessionaI operations. There were some
notable invididual movements today. but
the market as whole was trivial and in
consequential The most conspicuous
movement was in Delaware, LackaEanna
and Western. which rose by rapid stages
making a new high record at each stage.
70 2S11.. Il was expected that the annual
report would be issued today and the
street forecast OF earnings is OF a rate Of
IS To % per cent. The report was with
held from publication. but the directors
were in session. Rock Island made
notable advance Of 81 points on light
dealings. the market supply o. this stock
being scarce. The increase OF Moore
representatives in The directorate and the
extension Of common interests in the COM
pany and some Of the most influential
New York banks and trust companies
were cited as motives fer the advance
The profits Of the stock crossed that OF
St. Paul, but fell back American Lin
seed after early weakness rose 81 over
last night and the preferred four on ac-
count Of the advance in the price CT In
seed oil. Southern Pacific led the mar
ket IN point OF activity. but its narrow
price movement indicated active profit
taking which carried il below last nights
level. The speculation continued very
active in Amalgamated Copper which rose
rs, lost il all and then rose 21s again az
the close. The arrival in this country Of
director OF the Rio Tinto company sup
posed TO be for the purpose OF forming
q working agreement with the Amalga-
mated company, and the continued rise
in the price of copper were the motives
OF the speculation Sugar continued de-
pressed because Of fears that the duties
on Cuban sugars would be maintained and
Peoples Gas suffered a sharp break with
out explanation. There was an active
demand late in the day for Reading.
but with only slight effect on the price,
Colorado and Southern stocks were
bought on talk OF an increase in the
dividend on the first preferred. Mexican
National was strong by reason OF reports
OF absorption by Southern Pacific. The
recent strength OF Evansville and Terre
Hsute continued and the Iowa Central
stocks and the Minneapolis and St Louis
stocks were strong. Lake Erie and West
err preferred rose points Tomorrow's
bank statement is expected 70 be strong.
as cash has moved freely from the inter-
Tor and the banks have shown themselves
anxious TO place loans. It is believed that
the deposit of the local trust companies
with the banks have been increased Dur
ing the week. These deposits represent
accommodations OF investment capital in
the shape OF interest and dividend profits
which are held from reinvestneut. This
is interpreted as a symptom OF the dissat-
isfaction OF capital with the present price
level of securities.
Bonds were less active today and were
Irregular. Total sales, par value. s405oO9
United States refunding - declined Is
and the IS coupon 4 per cent on the last
call.