The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-16
STOCKS AND BONDS.

New York, Jan. 15--The stock market
turned from its recent consistent down
ward course today and enjoyed something
Of rally. The demand was on a fairly
large scole. but the market showed G
tendency to fall into intense dullness, and
developed a hesitating tone on the ad-
vance. There We're a number of reactions
during the day. but the closing was near
10 the top level. bit dulIness and waver-
ing still very manifest The demand from
the short interest was palpa Bile influence
in the rise Evidences OF support were
seen early IL the day in some Of the
stocks which were CHIEF targets for bear
attack notably in Union Pacific, and
other trans-Conti1eutals. This served 10
intimldate the bears, although they re-
newed their selling on advances The
fact was manifest, however. that the
more urgent selling had been disposed OF
on previous DAYS. and the efforts OF the
bears induced little Liquidation a number
OF incidents aided the bulls in turning
the market against their opponents
There was a striking demonstration in
Sugar on the strength Of the hearing ac-
corded By the ways and means commit
tee az Washington TO the advocates OF a
reduction of duties on Cuban sugars.
The increase IN the dividend rate from ,
10 , per cent on New York, Chicago and
ST. Louis second preferred relieved some
apprehension that there would be no in
crease. although the distribution was not
as large as some Spectators have claim
Cd 20 expect. New York Central devel-
oped strength early in the day and had
risen 10 the highest point before the an
uounceuent of the new stock issue and
the subscription rights 10 stockholders.
The price was inclined 70 sag after the
announcement, as new bond and capital
sci
llrors recently. The price OF the stock
has indicated for some time past thar
riehts Of some sort were accruing. as the
directors statement now indicates was
the fact
The statement Of the couutry's foreign
trade Tor December was regarded as IA
voradle- The heavy decline In exports
OF breadsrufts. principally Of corn prob
ably was expected The decline n this
item accounts tor practically the whole
az the decrease in the tot-l exports f3-
the month. which vas about SS.sl0.0oe.
compared with the previous December
This shows thar the declining tendencies
IN the exports Of Manufactured products
has been arrested. as WIS 6rst indicated
last month The increase IN the imports
for the month has resulted IL q falling of
Of the trade balance IN or favor alto
Eether . over So 80. compared with
rhe precious Decem ber. bar the increase
in imports IS not regarded as an unfl-
vorabls factor lr present - il IS made
40 il part O. crude articles Tor use n
manufactures ard Of products for which
domestic rlau--flcrure-s are lct able IN
Eli a8 the orders taey recaive- The
la-Ee galn hy the banks from the SUB
treasury and The re-Gro q The row %
currency from the interior giye asslr-
ances OF q favorable bank return on sat
uriay. ana the hesviless q sterling eX-
change indicates taar I'D god via 81 out
thls week There was elsa g suhs.Ge1Ce
tocay ~ Tec1rt vague TIsDlors 0f financial
troubiss il r,e mmereial World. TIE
sharp dron 81 Peoples Cas- vas due q
the refusal q O c1urr IN grant an il5luc-
zion against tle l-leaEo eirr or5ilauce
rsducing the rate Ser sas 81 = cents req
thousand Its influence ca tha general
market was only slight. The acriVe
bonds generally moved n sympathy with
stocks Total sales. par vsfas- 80 80.
United States r-su-linE tTes daclne1 E.
and ;he rhrsss coupon aaxanced = Per
ceut Oh tle lass caA