The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-04-09
STOCKS AND BONDS.

New York, April s.-The effect Of yes
4 terday's furry IL the money market was
dissipated today and an aggressive lead
ership was developed on the recovery of
stocks This leadership seemed TO remain
with the western men, who took hold Of
the market late last week. There was
some evidence that their forces had been
rcruited from other sources, while their
position was stronger by reason OF the
shaking of Of a weak following by yes
terday's reaction. The extension of the
short interest during yesterdays decline
was also a technical factor OF strength
in today's market. The reinsurance OF
the speculative element was not immedi-
ate this morning and there was consid-
cradle wavering and uncertainty in the
early movement OF prices. In fact, there
was not much in the market up to noon
outside OF the persistent absorption OF
Louisville and Nashville. and in the sharp
advance Of Amaigamated Copper. appar-
entity q continuation Of yesterdays move
ment- Louisville and Nashville proved
the central figure Of the market. and its
aggressive advance was the dominating
factor IN the broadening demand for
stocks The dealings in the stock were
on an enormous scale, and there were
indications that the western contingent
or spectators was reinforced on the
buying side by well known operate
Who only recently returned from a long
trip to recuperate his health. The ex-
plantations offered were mostly in the
nature OF surTnises on the part Of the
spectators. The reported acquisition Of
the Atlanta, Knoxville & Northern rail-
way was believed to be the preliminary
70 active incursiOn into new territory
The belief was professed that the new
issue Of $4,000, 60 Of stock for the purpose
OF this purchase already has been mar
keted, thus freeing the market from the
future offerings Of It. The aggressive
policy undertaken by the company gave
rise 10 conjecture as TO the possibilities
OF the establishment OF community OF
interest in the territory concerned. I'LL
nois Central and Southern railway pre-
ferred were benefited by sympathy the
movement spread IN the Southwestern
stocks and ST. Paul, but Union Pacific,
Southern Pacific and Atchison were little
afIected by the movement. There was a
general movement in the Vanderbilts Of
from ] TO points and large number OF
minor stocks, Of which the Wisconsin
Central stocks were most conspicuous,
were vigorously advanced. The list ad-
vanced. The list OF minor industrials af-
fected was also as large as has recently
been the rule The Westinghouse Eiec-
trio stocks made sensa tioral advances Of
Az for the common and 10 for the first
preferred, on the strength % an analogy
with the history Of General Electric. The
whole market gave way or the profit TAX
ing. which developed IN he last hour and
the principal active stocks were carried
back from I TO ? points. The market
closed easy. The rate tor call loans today
held firm at to s per cenT. II was be-
lievsd that this rate woGd check further
shipments Of gold. AM this assurance vas
a considerable relief TO sentiment. The
calling of loans yesterday seemed to have
strengthened the situation OF the banks
so far that the feeling in the money mar
ket today was much quieter- The Cen
trail Of Georgia income bonds were the
features OF the bond market at advances
of TO 3IR per cent. The Green Bay and
were also strong and
active. Otherwise the bond market was
rather quiet but firm. Total sales par
value $4,000. United States bonds |
were all unchanged on the last call.