The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-09
STOCKS Ard BONDS.

view 4tLhs august c--ELtElS were
made today TO shift speculative interest
into new quarters of the market. The
opening dealings showed that the glamor
Of the supposed plan for merger OF South
ern trunk line railroads had taken hold
upon the imagination Of the speculative
world. and most OF the stocks which were
violently affected has started of on a
fresh upward movement today But II
also became quickly evident that the
movement was overrunning itself Either
the desire 10 take profits or the belief
that prices had been lifted 10 above their
intrinsic value OF stocks led 70 prompt re
actions in Louisville. Illinois Central and
conspicuously in Hooking Valley The
last named stock not only lost its open
ing rise OF this morning. but al! OF yes
terdsys sensational gain as well. The
reaction was not so violent IN othe
stocks. although Rock Island developed
a heavy tone and Colorado Fuel became
weak. with much sensational effect upon
the general market. It cannot be said
that the reaction IN the southern group
materially altered the conviction ia The
street that important developments are
impending regarding the group. The DIFF
advance above 80 was attributed 70 the
fact that that is the figure at which the
option is supposed 20 be held BY J. F.
Morgan & CO. 10 buy the control Of the
road Some Of the largest selling Of tn
southern trunk lines was by brokers US
ualiy employed b. the speculat tive leader.
whose publicly proclaimed ''bulishness''
was fo-eruuner OF yesterdays violent
advances. Probably some disappoint-
ment was felt because the official state
ment OF the acquisition OF the Chicago K
Eastern Illinois by the ST. Louis & Sau
Francisco contained no reference 10 the
further extensive projects which are sup
posed 10 lie back OF that operation n
fact. no official countcnance could be Sc
cured from any source Of yesterday.
many rumors- The belief was held that
this and other important protests may
have 20 await the return II J. p. Morgan /
now on the way here from Europe
Among the new points Of strength the
most conspicuous and most Influential
vas that in she Erie stocks. No reason
was forthcoming for their advance be-
you'd q revival of old runors OF large
holdings IN the property by J. J. Hm AID
plans for its Improvement b. thai capt
talist The rise fl Amalsanated Copper
seemed 70 be purely speculative IN IT'S
origin. Other points OF strength were
the Colorado & Southern stocks. Texas
s. Pacific and a number q minor stocks I
The hanks have not gained enough from
the interior % Offset TIE drain 70 th-
silb-treasury. and a poor bank return s.
Indicated. This and the holiday prompted
% reaIize zion late ~ tn day. ard the
closing was dun and irregular.
The bond market was dan and irreE-1-
lar. Total sales par value. r.f7s.os1 +
During the carly part Of his week th~
20 50 low ar ebh that the members II
the stock exchange eagerly awaited them
selves ~ ths coronstloa - TIRE kIrg CO
Euglsnd on SATURDAY as an Occasion To- +
q holiday and p@tileae6 TIRE governor I
with practical unzulu,ity 70 close the * 4
change After this action had been takea .
The market sprung TITO activity agzs-. +
and By THURSDAY The volume % dealings 4
had again risen 20 vel above hals q NIL +
Hen shares The fact that TIE awaken 4
Ing wes cclnci6srr WIKI TIRE rstera -
New York from a vacation trip - ~ 4
putstive leader q az the important spe-- j
-lztive movements that have rrrsnfir /
did rot escape notice ard con-
-ent and The rabi5c sutrfvin<z - ms
leader - enthusiastic c1rfdsnez n
higher prizes for ths fztzre warranted a. +
1fe-e1ee that re own opeTatsoas II ire +
market uere shaped r. nat end
ClnsrE qssetarsc-s zers "a srf.-vrs-