The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-10
STOCKS AND BONDS.


: in excess OF 1.0oO00 shares and widely
distributed, todays stock market ruled
generally firm. with many marked ad-
vances and closed with sentiment rather
mixed. Except for further good crop
advices and word of an approaching
import OF gold from Australia, there was
little 10 account for the strength shown.
On the other hand. the financial outlook
was again menacing, call loans advanc-
ing 70 per cent No little dissatisfac-
ton was shown at the status of the coal
strike situation. In good part the days
operations were attributed TO the many
pools. The market opened with gains in
the southwestern stock, particularly
those in the Could system. and the
strength Of these issues. more especially
Missouri Pacific. which was the feature
in point OF activity, was accompanied by
a host OF rumors, none of them auth
crative The Street ascribed much OF
the Missouri Pacific strength to the ap-
erations of a well known pool and this
belief was heightened by the character Of
the buying. Later there were large and
brisk operations in some old favorites.
such as Louisville and Nashville and
Southern railway and ii was in these
stocks that manipulation was most mani
fest. Concurrent with the move in these
issues was the strength of the ST. Louis
Southwestern and the so-caned Denver
class; but in these as we'll as Southern
Pacific manipulation was at times al
most fragrant. APPARENTLY more genuine
was the move in Wabash issues and in
Wheeling and Lake Erie. which advanced
sympathetically. Little interest appeared
10 be excited by the regular dividend
announcements in Western Union and
Manhattan, traders taking them as fore
gone conclusions. The advance In South
ern Railway met with free selling for
London account but at the opening that
market bought moderately Of Southern
Pacific, which It sold when that stock
moved up. The day as a whole once
more found London a seller on balance.
United States Steel shares were com
paratively inactive and inclined 10 heavi-
ness. partly as a result OF an adverse
legal decision. though both issues held
their own at the close. In the last hour
stocks which had previously been neg
lected were taken Up and made varied ad-
vancement.
In addition. there was another heavy
southwestern group. with counter move
in St. Paul and Missouri Pacific which
appeared TO be in the nature OF profit
taking New high records were made BY
the last named stock as well as by =
Atchison the Wabashes. Wheeling and
Lake Erie. St Louis Southwestern pre-
ferred Pacific Coast, Southern Pacific
SchIoss- Sheffield preferred. and Virginia
Chemical preferred Rock Island issues 3
were a feature both on the exchange and
on the curb operations IN the first nam
ed place being stimulated 81 the strength /
Of the new securities in the outside mar
ket.
In addition 10 the adverse conditions !
already mentioned the technical position I
OF the money market as whole was Tot +
regarded as favorable. Since Friday last 4
the banks have lost almost 1900 epe % /
the sub-treasury. which reduced the sur /
plus reserve as reported in last weeks /
statement 10 practically nothing. then. I
too. heavy pension payments VIII have F
to be met the latter part Of the week. 4
but probably too late 70 figure IN this 4
weeks bank statement.
wabash deberture bonds continued the 4
feature Of the bond market today. enoT- /
nous purchases advancing them nearly (
six points % So No further light WIS
thrown or the recent extraordinary tra5-
ing n this issue. The general market /
.eas also active and strong. Total sales.
par value - s55.oo'
United states old IS advanced - tn
rev Is coupon and the Is 5. last call
Closing stock quotations were as fol-