The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-13
STOCKS AID BONDS.

New York Sept. 12.-Can money ad-
, vanced 20 per cent shortly before the
close OF todays market. and the list
which had been heavy throughout. closed
with marked declines. Opening prices
were lower. though mostly fractional.
but the unsettled tone which character
lied the days comparatively moderate
| transactions. was apparent from the
outset. London came lower in the
absence of New York support. though
later there was considerable improve
ment and a better demand for internal
tons in the market. Missouri Pacific was
the chief sufferer in the early trading,
selling of about : points and making no
recovery. The decline in the Changers
and Pacihcs was in part due to reports
Of frost in the corn belt The selling Of
Baltimore & Ohio was accompanied by
reports that insiders had discounted the
extra stock issue. St Paul received bet
ter support soon after the opening. but
in the main stock which then held their
own We're OF the so-called Pool class
There was no great pressure against any
particular stock. but the early high rate
OF call money-i0 per ceut-coupled with
exports that some Of the banks we're
showing discrimination in the matter Of
collateral. added 10 the increasing uueasi-
Tess. Louisville and Nashville and Rock
Island were among the Few stocks that
reflected armness at this 1uncture. the
latter selling ex-dividen6 Trailing re-
ceived another check in the second hour
when call money advanced some more.
hut no great amount OF long stocks
seemed 20 be offered Nevertheless il
was clear that numebr OF weak ac-
counts were shaken out There vas
rally in the Granger group or reports
that the frost had done little damage
and at The same time, Manhattan also
sold extensively. was being absorbed in
small lots or rUmors Of closer relations
with New York Central
The United States steel shares were
heavy with little or 10 evidence II Sup
port. but the strength Of Union Pacific
and s. Paul vas suggestive Of pool sup
port while the weakness o. Chesepeaka
& Ohio was attributed u inside selling
\ further reactiouary movement SGT in
curing the second hour u The Afternoon
where money advances u > Ter cent
Declines at that time embraced practl-
caIiv all TIE active Issues and brought
prices q Tho lowest level - TIE 6ay.
Maximum declines y ? pr cent was r=r-
tsterad by 81 paul Missouri Pac.ae
Norfolk and Western ard Sorxhusst.
zith q Is Doiat decline n louisville &
Nashville ard ever greater Iosse. II the
specialues. Announcement ~ the q per
cent cut rate f. cal money vas TIE siz-
al f0r another selling movement. h-1t
partial recoveries zsrs made hv s.. pau
ard LoEisriHs q Nashville TIE 1rsi
dealings brought some more nquldsssoa
and the dosing vas heavy aid unsettled
n adtltion q TIE 1T losses already ne--
toned rot declines - a 9of1t or over
we're made y Atrhisoa. Baltimore 4
Ohie. Chicago 4 ScrtnE ssfern. tha Cor-
reE stocks ard numerogs others Set
gains we're ths sxcsvfioa ard mostly
fractional. Lonson TRADED 81 ahouf ts-
- shares. mnFtly on fhs hzTirz SIC dur
frE TIE decline Asits fro1 the squeeze
Z call noney re 1zoz@;zrT on:ioox ger
s-sIly rss ssfss4zlsffnz
Forecast showed furtsrr heavy iesse.
4 czsh ~ re banks. rhe greater nart
= z 70 IRE sah-t-szsrsry. z1sch rasI nlt
essf Efse - fsv reesss-s aa1 sl--ozs tzsrss
= - 49,. 49, irzasssrrsax sss - fa
New C-iezss to- crop pzE1--sez. sst
th~.e op>rxrso-s VII rzc< shc~ e re
irrnorTows tssrx stzts--ert IL <ss IN
cegssoo1 tat she hs4sy foss u tne szF-