The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-23
STOCKS AND BONDS.

New York. Jan 2.-The professional
operators il the market made an upward
turn Of prices again t5day. The dullness
Of the market and the congestion OF The
scanty dealings into a few stocks clearly
reflected the continued Indifference Of the
outside public TO the securities market.
and the abstention OF the great banking
interests which made the great bull mar
kets OF last year form any hand in the
trading. Such narrow price movement as
there was, was pretty much Hiped out in
the closing dealings. and many stocks
closed below last night. Metropolitan
Street Railway was the central feature
and moved up late IN the day an extreme
So on the volume OF dealings. very IN
usual for that stock. The gain OF the
day was %. Many rumOrs circulated 70
explain the movement which were in
general agreement as 70 a coming issue
Of stock with subscription rights 10 stock
holders, but which varied greatly as 70
the use % be made Of the proceeds OF the
stock sale. There was talk Of a cousoli5a-
ton OF all New York public utilities and
OF q Capitalization Of the production OF
electric power for the benefit OF al OF
them. The stock OF other New York
public utilities did not fully sympathize
and reacted sharply at the last. Advances
OF points each in the Chicago and
Northwestern stocks and 81 IN Laeka
wanna were accompanied BY rumors OF a
coming distribution Of scrip. Sugar and
Peoples Gas gained nearly a point ar one
tine. This about exhausts the list OF
advances worthy OF mention. The rain
and snow in the winter wheat belt and
the promised benefit 10 the crop were
used BIZ the traders as arguments for adj
vancins railroad stocks. Money was easier
ard the large subscription reported in
New York Tor the German imperial loan
argued an abundance Of local resources.
although the disposition TO turn 10 for
eign securities while the local stock mar
ket was so neglected was taken 10 in
dictate a tendency not altogether favora-
be. The lively speculation in Kaffirs IN
thu London market while stocks continued
TO be sold In New York for London &C
count. showed the same tendency for
speculation 70 be diverted 70 foreign mar
kets.
The character Of q good part OF the
days dealings was shown by the express
ed expectation that the supreme court
would clear up the Northern Securities
question by a decision next Monday,
which is merely the day set to hear argu-
ments whether the proposed suit shall be
entertained There was recently some
speculation IN Erie shares based on the
assumption that the dividend on the first
preferred was 70 be advanced 10 per
cent: but the conviction has been general
for some weeks that the per cent rate
would not be changed. as proved to be
the case today, with little effect on the
stock. The market closed duh and IT.
regular.
The railroad bond market broadened
out today. bringing forward many dor
mant mortgages into activity. The deal
ings in some Of these, notably in the
Rock Island tours and the Central Of
Georgia income bonds and consol fves,
were very heavy. There were advances
ranging from 1 TO "a IN the Rock Island
skies and fours. the Oregon short line
skies. 81. Louis and san Francisco SKIES
and New Jersey Central fves, Peoria and
Eastern incomes. Central Of Georgia first
second and third incomes, the Chicago
and Pacific division skies and the ST
Paul and Texas and Pacific first. Total
sales. par value. Ss.s20 .ooo United States
bonds were all unchanged on the last
czu