The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-10-16
STOCKS AID BONDS.

New York, Oct 15.-Further progress
was made today toward a higher level Of
prices in the stock market, although there
were no actual developments in either
the monetary or the coal strike situation
to indicate any material change in con
ditions. Nevertheless. the feeling was
more prevalent that the coal strike
would reach and early amicable end and
that measures are to be taken by Secre-
tary Shaw that viii shortly relieve the
present strinGeEcy Of the money market
His action was said to be in the nature
or further large government bond pur-
chases, various interests being accredited
with holding large amounts which would
De shortly turned in. The sums named
ranged from $1,000, 600 TO SSJ000.0o0 and
the report Was vigorously circulated
Throughout the street. Whether there was
any foundation or not in the rumor the
money market reflected greater ease than
In some time. Can loans opened at 8
per cent, the highest, and then shaded
gradually TO per cent Considers bic at
tent.on was given to the report that there
would be certain notifications in the
terms proposed by the coal operators
for settlement of the strike which
would insure less opposition from the
miners from the points contested Moth
ing definite developed regarding this re-
port, though it was coiored TO some eX-
tent by the heavy buying Of Reading
which showed considerable strength
throughout the day The dealings We're
smaller than usual in other stocks of
this class and there was a disposition
in general TO await active developments
before pursuing active operations in this
quarter Recent speculative leaders
among the grangers, Pacidcs and South
western stocks were bought freely and
teh entire market showed decided strength
at one time or another. St Paul, Lou
isville and Nashvills and Illinois Central
were conspicuous in the days dealings
and made exceptional advances OF two
points. Prices elsewhere averaged
point pretty generally, with quite am ac-
tive demand in a number Of specialties.
The Gould stocks received the most con-
eistent support, the heavy buying of Mis-
souri, Pacific having a sustaining effect
on the lower priced stocks. Some disap-
pointment was felt over the htaviness
a the London market and as the arb-
TRACE dealers turned sellers the early
market showed some weakness. RealiZ-
ing sales however 10y the local traders
We're soon overcome by the appearance
of large orders for the trans-contnental
stocks and the movement throughout the
day was mainly upward although mo-
rnentarily checked al times by pront-tak-
ing Trading lacked the breadth and ac-
tivity of the early operations of the week.
but there was a marked uncertone OF
confidence in the general situation Ster-
ling exchange rates made a further de-
cline today demand bills declining TO
81 $3.50 and there was some talk of the
likelihood OF early imports Of gold The
pavment today Of the second installment
of 81. geo. 600 on the Louisville and Nash
Wills account was looked to as conuibut-
ing toward q further ease in the money
situation. as the funds Will speedily be
redistributed again through the usual
banking channels. Payment was made by
che sub-treasury today of 100000 on trans
fer account from san Francisco and II is
exnected that further constituents Of
EIondike gold VIII be available to the
none vmarzet in a few days. 80 cur
rencv transfers have been made 20 the
interior bv this institution this week and
tsere was O feeling in barking circles
tl,a+ The general conditions favored lower
money rates.
In me late session trading was virtu-
elv stagnant Mt times. especially when
the market was under pressure from
realizing sales There was occasional
bursts of activity and these were marked
bv advancing sales Proit-toking sales
outveighed the buying orders III the nnal
bonr and there were q number OF impor-
tant reactions which We're NOT checked
bv . final upturn in st. Paul to the best
The closing was dull and easy.
The bond market was duh today. hut