The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-12-19
WAR REPORTS
HOLD MARKET
Fear of Crisis Influenced the
Price of Stocks.
UPWARD JUMP IN MORNING
Operators Believe Danger of
Complications Removed.

| New York, Dec lS.-NeasEred By to-
days advance in prices. the strained con-
dition in Venezuela has been the cause
Of much more uneasiness than Vas sus-
pected in Wall street The depressing
effect OF this influence has served 10
hold back the market from the natural
recovery which was due after the action
taken by the bankers pool or Monday TO
insure the money market from any vio-
! lent crisis. The fear OF such crisis has
been the preponderating influence in the
long decline OF socks and the practical
assurance Of protection from il would
have caused a violent recovery in the
natural course Of things. The fear OF q
| complication with the powers concerned
IN the Venezuelan demonstration seems
10 nave been the factor in deferrlng the
recovery. When operators came down
10 their offices this morning after hav-
ing read in the morning papers the news
That the Venezuelan president had prac-
ucal.y abandoned opposition To the de-
mands OF Great Britain and Germany.
they were quick 10 jump TO the concur
sion that al danger of complications was
/. thereby removed There was an uur
ward jump in prices al the start. and
the market showed constantly broad
enlng tendency until past midday Tim
demand after that showed some signs ~
satisfaction, but in the last hour there
was a revival in animation and a final
rush or prices 20 the top level Of the
DAY. With strong closing The room
traders were skeptical OF the advance
throughout the early portion OF the ses-
sion and kept making short sales on the
way up IheiT hasty buying 70 cover
contributed 10 the final squirt in prices.
sentiment regarding the money outlook
has been supplemented by actual fsvorahI HE
developments The banks have been re-
leVed from much OF the sub-treasurv
drain. which has been sapping their re-
sources for several weeks Their loss %
the government Institution up TO last
nignt was only SS3sc00. while for the
corresponding period last week il reached
s4'oSb.VJI without counting the s1.000.0Oo
taken for export TO South America. IL
is ethgeneral suppOsition also that heavy
sums have been received from the inte-
rlor The deposit today for transfer -
Chlcago OF 10000 is something OF an
omaly. IN view of the 35 cent premium
on New York exchange at Chicago. The
breaking down of the speculation in
corn at Chicago is regarded with an
proVal IN Wall street, as il has involved
large money requirements there and IL
port movement Of corn by reason Of t.
nigh prices maintained. The time money
market showed increasing ease today. a-ad
rates for six months loan were shaded
from per cent. Even for the shorter
periods larger amounts were offered To-
day Bank OF England statement did
not make strong showing. and the adj
vance in the Bank OF Bengal rate which
was made today. is sometimes a prelim-
mary to an advance in the Bank OF Eng
land rate Sterling exchange mere con-
tinued heavy and advanced at Paris. so
that no immediate apprehension IS felt
OF gold exports. An increased interior
movement of grain and heavier receipts
OF cotton were encouraging factors Pool
operations We're recorded 10 be response {
bic for the activity and strength Of some
Of the market leaders. and there is rea-
son 10 believe that a very large short |
interest was covered today St Paul
Southern Pacific AID the Missouri Pa
cifc and Cnited States Steel stocks were
features Of the speculation /
but there was a long list OF securities =
which gains ranged from 10 > points
The bond market was active and strong
In sympathy with stocks. Total sales.
par value. s. 60 90.
United States bonds were all TN
changed on the last call
Closing stock quotations were as fol-
lows