The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-05-24
STOCKS AND BONDS.

New York, May 23.-Todays stock mar
ket was dull TO the point of stagnation.
The higher prices in London induced an
improvement at the opening here, FIT it
was lost through mere inaction. Until
the last hour there was hardly enough
motive power TO show any direction in the
movement. with the exception OF some
special stocks. There was quite an active
demand for the National Lead stocks due
to the expectation that the company
would benefit from proposed cOmbina-
ton in an allied branch Of the trade. The
American Linseed stock rose on rumors
Of a combination Of the vegetable oil
interests. The firmness of Amalgamated,
Anaconda and Smelling was due to the
continued reports Of the widening demand
for raw copper both here and abroad. The
improvement in the copper trade is an in
fuence extending far beyond the stocks
Immediately affected. The allegation is
made that the recent heavy exports OF
copper are going abroad. in part at least,
as stocks are. TO get the benefit Of the
cheaper money rates over there for hold
ing purposes. There was renewal Of the
recent strength in Canadian Pacific, but
when the advance reached IA it halted
Pacific Mails 21z point rise was uneX-
planned. The George A. Fuller stocks
made wide advances and the New York
public utilities and Colorado Fuel devel-
oped late strength, the latter rising 2L
The appearance of the preliminary figures
of the weeks movement Of currency
awakened more animation than at any
time during the day. Outside OF these
stocks already mentioned the effect was
not notable except In St. Paul, Union
Pacific and Atchison. The currency
figures indicate net gain by the banks
on interior movement of nearly 100000
which is supplemented by gain on sub
treasury operations OF $565,00 Bankers
are generally agreed that there has been
a further heavy contraction of loans and
OF deposit liabilities. 1t will be
seen that the promise is for an extremely
favorable bank statement. The response
in the stock market was very moderate.
Possibly this was due 10 the fact that the
inward movement of currency has been
checked. New York exchange at Chicago
fell back today to near par compared
with sixty cents premium early IN the
week. There was transferred today
through the sub-treasurS 500. 600 to New
Orleans. following the like amount trans
ferred Yesterday. There was a call today
for a twenty-five per cent instaIlment Of
cash on subscriptions TO the steamship
merger syndicate. which calls for 25c9.oo0
of which about 60 per cent is payable in
New York The transaction did not cause
a ripple today in the local money market
The determined waiting attitude OF the
market seems to be due to the uncertain
tainties Of the coal strike and TO the ap-
proach Of the critical period OF the corn
rrop. The latter is receiving more and
more attention every day and is destined
to have a greater influence on specula-
ton than any other one factor Definite
news is awaited of the result Of the Boer
peace conference. Confidence is growing
hat there viii be favorable outcome
The bond market was duh but firm. To-
al sales. par value. 81. 5000
United States bonds were ali unchanged /
-, ~. Ia rail-