The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-25
THEIR SHIPS
ARE LIGHTED
Treasure Coming to New York
Influences Stocks.
SICKNESS OF ROOSEVELT
Had Quite an Influence on
Wall Street.
SICKNESS OF ROOSEVELT

New 1orE, sept -+-A1ter q stormy day
in the stock market. the close was quiet.
but the undertone stHI unsettled. Il was
q day OF violent fluctuations and OF many
changes IN the course OF prices. Twice
there vas dangerous break which
threatened Generalization. and twice there
was an effective rocovery. Just az the
there vas some very large selling by
holders, who seemed DESTROYS OF taking
advantage OF the vigorous rally IN force
and who seemed yet 70 harbor doubts
whether the storms % forced liquidation
nSo spent their force But there was
undoubtedly very general sentiment al
the close that the position Of the banks
mad been efectualiy strengthened and
that the violent loan contraction might
nave reached its limit for the present
The news OF the sighting OF a steam
ship having on board 4 consignment Of
nearly Sl,5Vo,0 gold wass strong senti-
ment and influence on the market. as
was the sharp break in sterling Tho
opening break IN prices. which ran from
! 70 points for the active leaders. was
aggravated by the unexpected news OF
President Roosevelts disability. The re-
ports given OUT from the president train
served 70 insure fears on that score.
There was a suspicion also that yester-
day late liquidation had been due 70
some advance Information OF th- opera
ton on the president. The consequence
was The present prices recovered pretty
generally during the first hour The
opening rate for call loans was announced
Ct is per cent and after a nomeutary
reaction 20 = per cent the rate SCARED
20 . per cent. Stocks We're then unload
ed in enormous volume. with the demand
apparently reduced 10 nothing There
was heavy slump OF prices throughout
which carried prices OF many leading
stocks from 70 points below last
nights level before any effective re-
sistahnce was shown 70 the decline.
The banks were cutting down the ac-
commodaJions on call 10 brokerage firms
and proceeding with drastic measures
which were inaug7lrated yesterday for re-
cuperating their reserves
The advices We're heard from all sides
that abundant resources were available
for ali regular business purposes. bat
nothing further vas heard OF the soOth-
ing assurance that there was TO danger
Of money iurries The decrease in spec
ulative combinations which have taken
out loans and bought stocks on margins
on this assurance for some time past
had nothing 70 do but 20 sell out their
Inmates are current Of the extent Of these
loans for speculative purposes and the
closeness Of the combination among the
speculative interests which have acted
together "a not clearly defined. but II is
believed that the resources 20 the extent
n sixty millions have been subject 70
centralized direction in the speculative
campaign which was undertaken. The
action of the banks this week marked
- - Ma~ traH
been entertained that measures q relief
by the treasury department and the au-
-oua tic relief # gold exports would save
the situation through the crop moving
period Talk was renewed today OF an f.
Intention or the part Of the secretary u 4
the treasury 20 Increase the government +
deposits with the banks mp 70 the market
value Of the government bonds for seci1r-
~. but no Official sanction could De Sc
cured for this report. This discussion
Vas an effective factor in the late rally
n the market. Meantime customs col +
ections have changed the early gain By
me banks into loss Il over haf a mil
Ion 60 the treasury There was depos-
ted today az that Institution $4,000 for .
ransfer 70 Chicago and $1,000 for New
orleans.
An effective agency fl the rally was
he changed attitude u the brokers for
speculative combination which sold thou
.ards Of shares yesterday. but which
urned 10 the buying side m the low level
oday Their opera uous were conferred II
he Could stocks and resulted in carry
ng Manhattan 2zsc over last rights level
The smallness Of the net changes gen
rally marked the effectiveness q TIE
ec0very IN the market
Bonds suffered Quite severely IN the
iquidati0n, but rallied vigorously in syn
.at,7v with stocks. Total sales par value
s t-a ~ United Staes IS declined &c
ne the old e advanced 2. per cent On
he last call
Closing stock cuotstions were as FOL