The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-14
STOCKS ARE INACTIVE
Lack of Animation Continues
on the Exchange.
ELEMENT Is REARISH
Level of Prices Carried From
| to 2 Points Lower.

New York. J1n I3-There vas con
.inusd lack Of animation n TIE stock
market today. ard the dealings were
Faipablv II the hands o. professional
traders. This element was bearish r. it,
opinions OF the outlook and sold stocks
quite freely throughout the day. fhe
level OF prices vas carried generally
rom ! u points lower under last week :
close. Nc lsrge amount OF liquidation
vas brought OUT by this decline. and
there vas q movement 20 cover sEcrts
late ii the day. causing rally OF 4 point
cr over IL some OF the most prominent
stocks, but the recovery was practically
al lost again before the closiIg, which
was extremely duh and heavy There
wss 10 striking news OF a character IN
favorable 10 values but II was very OBJ
vious that any Important organized at
tempt 70 lit The market has been ab}1-
donsd for the present The speculative
element has heen INDUCING the hope that
the great capitalists and syndicates who
have on their hands the heavy volume Of
securities resulting from the co,nbina-
lions and new formatiors OF last year
were about 10 put forth a determined ef-
fort u lead a bull speculation with the
intention OF making q market Tor their
securities No rign % any such attempt
has appeared since the publication last
bv the United States Steel corporation
Hope OF such leadership was stiu further
discouraged by rumors OF the Illness OF
the market operator intrusted with the
care and manipulation OF these stocks
and By reports OF unloading IN his in
terest- More tangible grounds OF depres-
sion were found in the formal oner OF
81, COZ. 00d OF AtchisCn debenture bonds 70
reimburse the company for certain out
IT,. iHrrae
ment which Wall Street has assumed
had been or would be provided for other
wise Reports OF very large projected
OUTLAWS for bette-Tuents BY Union Pacific
emphasized this influence The perulis-
sion granted by the United States su-
preule court for the state OF Mines u.
argue On is petition &c bring SUIT Tor the
ennulment OF the formation 81 tne North
ern Securities company. although its force
was little understood. had chilling e.
fecC on speculation owing to IT'S promise
If q prolonged legal struggle and delay
III the fiotation CT the conpanys secur1-
ties The financial world continues 70
uouder the revelations OF over sXtetlied
credit IN the cases II the trolley syndicate
and IL the rubber and asphalt trades.
which carry Suggestions OF ether posi- Die
commitments Of capital which would neip
TO explain the great falling on ia demand
Exchange
Money was slightly hrmer today. and
sterling exchange was no higher, but ex-
PORTS Of gold were expected 70 be made
this week. There IS a growing feeling
thai even when money does sccuniulats
at this center II may serve 70 stimulate
speculation IL the prevailing spirit OF
sceptc;sn ia the values Of securities al
present price levels. TIE shading OF prices
Of copper led 10 G sharp raid IN the ate
leaing on Amelgdmafed Copper, which
helped TO unsettie che close EXCEPTIONAL
movements were made hy LacEaW
which rose IL and lost nose II Il; Glu-
ccse preferred, which gained 5, and Amer
lean Express = hich lest G.
The bord market was not very active
but Il was irregular. Total sales, par
value. $4,000. United States refund ng
tvos declined = and the threes coupon
z. Per cent on the last call