The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-07-24
STOCKS AID BONDS.

New York, July 23.-The stock market
again demonstrated its absortive power
/ today and made various but quite con-
vincing show of strength notwithstand-
ing the appearance of a reactionary
| tendency in some Of the stocks which
tempted TO realizing by the high prices
attained and a few cases of positive
weakness. The volume of dealings was
again below million shares and the
bulk of the dealings was congested in q
very few active stocks. 1t was obvious
nevertheless. that the hpll campaign was
still in force and that large and powerful
capitalists were still committed 10 the
long side of the market. Not much at
tentiOn was paid to the news of the day.
which was somewhat neagre in its bear
irgs upon values of securities. The spec
ulatiOns shifted from one to another
quarter Of the market in its usual routine
BY which skinfuI speculative leaders
Keep the movement Of prices equalized
and from time to time and without re-
gard 10 new developments. The weekly
crop bulletin of the weather bureau was
exceptionally favorable on the whole
Some harm was reported 10 the various
grain crops by too much rain. but relief
from drouth was reported for the cotton
crop and the condition Of the corn crop
was considered highly satisfactory. The
outcome Of the corn crop is the domi-
nant feature in the speculative situation
and turned the scales OF sentiment in
favor of the advance. Some disappcint-
ment was felt over denials OF yesterdays
rumors that anthracite mining would be
resumed on August !. and the coalers
and eastern railroads generally with the
exception of an early advance in New
York Central were almost stationary.
A feature of the day was the mark
ing up of various dormant stocks which
have not shared in the recent advance
This tendency extended to Northern Sc
cureties company on the curb. which
rose buoyantly to 10. Great Northern
preferred advanced ~ but lost half of it.
These movements were simultaneous with
the publication Of an abstract II the
identure securing the new oregon Short
Line collateral bonds. This showed that
provision is made for allowing that the
Northern SECURITIES stocks deposited as
collateral for these bonds shat be allowed
or further union or merger OF sale and
distribution Of the campany's assets The
profit taking in Pennsylvania was some
what aggravated by the action q the
New York aldermen IN rejecting the Penn
sylvaula tunnel contract Brooklyn Tran
sit was decidedly weak owing 70 the
belief that the company's bid for con-
struction OF the East River tunnel VIII
fail OF acceptance. The granting Of a
stay Of the AnalEamated injunction
against the workings OF a disputed mine
By a rival was held 70 explain the re-
dictionary tendency 81 that stock. There
were striking upward movements II var-
Ious specisltles which were due 20 purely
idividual causes or manipulation. The
expectation that yesterdays engagement
OF gold for export would De cancelled.
was partly realized and there was & f1f-
ther engagement oy another firm q ore
million dollars thus bringing The export
81 the week Up 70 s2.757.9oo The sustained
stea6iness q thu exchange market fl5i-
Gated ;hat the shipment is n direct SET
Element OF foreign obllgations- London
continued 20 sell stocks On This market
The can money market vas somewhat
arrner and the time money market dis
tinctly sick bur this did rot seem %
disturb ire eqaaniIrity 4 Ire huye-s y
stock Active pro1t taxing u1aoe the cos
STOCK Active prose- taking made The clos
irg irregular ard are nes changes ssslxas.
The bond market Ezs Irregular Tstsi
sales par value. = - 90 Eni1ea states
cid 8 regular declined :. pr eeaE On ne
last caH