The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-11
NEGLECT N STOCKS
Market Is Professional With
Small Volume of Trade.
SUGAR CONTINUES ACTIVE
Manhattan Also but With Pro-
fessionaIs Handling Business.

/ New York, Jan. 10.-The condition Of
/ neglect and professionalism into which
/ the stock market is falling became more
1 evident today not only in the smaller vol
ume OF the trading but in the eccentric
1 fluctuations Of prices. The net changes
in the majority OF the list Will be found
narrow. but the days range was consid-
/ cradle and the changes constant and var
/ ious. The rule OF operation has fallen
back to the professional room traders
/ basis OF selling on advances ard buying
on slight recessiOns IN speculation con-
Cnued quite active in sugar and Manhat-
tan, but even in these characteristics were
professional. In sugar attempts were
made 10 lift the stock on the assumption
that Cuban duties would be RENTED.
Manhattan was affected by realizing. but
was lifted az one time a point over yes
terday. Generally speaking the charac-
( teristic of the market was dullness, due
10 the lack OF outside interest and the dis
continuance Of operations by the larger
speculative interest The tone leaned to-
wards depression as the lack u demand
made the market vulnerable 10 even tight
selling pressure. TIE abandonment OF the
bull campaign in United States steel and
the desire to await a better destined sta
tus for the Northern Securities compsny
were general considerations detracting
from speculative interest. Tie announce
ment OF the suspension of a trust aud saw
ings institution In Cleveland was regarded
as an episode. unimportant in It's immed
late results, but with rather sinister sig
nificance in it's possible Interior bearings.
The suspension was associated in the Wall
street circles with the di5kcdltses OF the
Everett-Moore syndicate; which have been
a rather depressing circumstance in the
Wall Street backing round fer some time
past. The feeling in favor of conserva-
speculative ventures was strengthened by
this event There had been an extensive
speculation in Dlaware ard Hudson on a
confident assumption that the dividend on
the stock was to be increased. This as
sumption was strengthened by the action
Of the New Jersey Central IN jumping
their dividend rate from 10 S per cent
The action OF the Delaware and Hudson
directors IN limiting their distribution OF
last years profits TO seven per cent TO be
disbdrsed quarterly was therefore a keen
disappointment as it represented no better
return than that Of last year. The stock
as sold heavily. causing a break of six
points with an influence on the whole mar
ket The unchanged dividend on Louis
isville and Nashville was also a disap-
pointnent, though In much less degree
The market failed entirely 20 respond 10
the promise Of a favorable bank state
ment tomorrow as indicated by net re-
ceipts from the interior by the banks OF
over S5,Ooo,000 supplemented by a gain from
the sub-treasury Of nearly half a million /
dollars There is nothing apparent in the /
domestic horizon 10 explain this indiIer- /
ence, and it is supposed TO be duo to I
the general expectation that exports OF !
gold win begin next week.
The bond market was dull and rather /
irregular Total sales par value s., SIS 200. !
United States bonds were all unchanged !
on the last call.
CI1sln.- Of stnol.s r-era a. fnllc re.