The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-29
STOCKS AND BONDS.

New oYrk, AIN "a successful turn
was made\against the shorts in today's
stock market. How far the days de-
mand for stocks represented new buying
from outside sources can only be coujec-
tured. Conditions which were made the
ground for selling yesterday remained IN
altered today without affecting the strong
tendency toward recovery. The weakness
in the grain markets which yesterday
was made the basis Of Tumors OF financial
troubles, was turned to bull argument
today, as showing good conditions for the
winter wheat crop. The formulation By
the United Mine Workers OF fat demands
for higher wages which depressed the
coalers yesterday, was ignored today. The
report OF December net earnings OF the
Erie and the Reading system were equal
ly ignored. The decrease IN net earnings
for the Erie for the month was S11s.162,
and the decrease in the surplus OF the
Reading for the same period vas s2ls,2tS.
The Southern railway also reported q de-
crease in net earnings in December OF
SIS. 20. All Of these stocks were quite
conspicuous for activity and strength II
is thought that part Of the recent selling
Of the coaIers has been in anticipation Of
this showing, and that todays buying
was short covering. These vagaries OF
sentiment Indicate the professional char
acter of the trading The most important
influence in the advance was the stimulat-
ing effect Of the strong recovery OF three
more points in Amalgamated Copper.
Oh -
twice as great as those IN any other one
stock. The further advance in raw cop
per and the heavy buying in London was
taken 70 indicate that large require
ments have been left uncovered, waiting
for the price 70 touch bottom The ad-
vance in Amalgamated was taken by
spectators TO Indicate a sentiment in IA
vor Of advance by the Standard Oil party
which has long been supposed 10 favor
quietude in speculation Coupled with
published utterance OF J. P. Morgan, ex-
pressing confidence n the maintenance
Of the country's prosperity. the effect was
TO Impress spectators with the idea that
the great financial powers were again in
accord in favoring higher prices for
stocks. The upward movement broaden
ed and gained force up 10 the close.
which was at about the best and strong.
The reported agreement 70 maintain rates
among western railroads and meat pack
ers was strengthening influence. The
speculation II Sugar was based on the
expectation Of an advance in the produc-
ton which had an important sympa-
thetic effect. rs an incident OF the adj
vance there was a renewal OF many old
ruuors OF consultations and inscriptions
involving the local fractions. the Van
derbnts. Chicago and Eastern Illinois.
and Louisville and Nashville. Chicago,
Indianapolis and Louisville, and Evans
vile and Terre H8ute. and many others
that have previously been in circulation.
The statement in the British house OF
commons that a note from the Dutch
government IS under eonsideTation pre-
sumably bearing upon overtures FOR peace
from the Beers. helped the closing
strength in the market
The bond market was strong and i1di-
vidual bonds were not SO Overwhelmingly
conspicuous as OF late. Total sales. par
vaIre. s4Ss5.eo United States bonds
were all unchanged on the last call
Closing r,rfreS NJ stocks ve-a qs follows.