The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-18
STOCKS [IVEN|NG Up
Increase In Activity With Half
Million Dealing.
EXTENT OF lMPR OVEMENT
Professionals Brought About
Advance in Prices Mostly.

New York. Jan f-Thers was in
creased activity IN the stock market and
show OF strength. but the dealings
did not rise much over one-haIf million
shares. and were largely congested in
the few stocks which were favorites in
speculation. Professional manipulation
had not a little to do with the advance
in prices ar some points. and the more
ment was clearly directed against the
short interest which had been accumulat-
ing during the downward course Of prices
this week. The recovery from a recen.
illness Of leading operator who is CON-
monty credited with the leadership OF the
protective forces OF the market on the
bull side. was believed TO explain an i'm
portant part OF today's transactions. The
factors which accounted for the rise were
partly in the shape OF vague fntimations
and general aspirations and assertions.
rather than Of explicit information.
Thus statements were circulated as TO the
phenomenal earnings OF the anthracite
carriers which were asserted to reach Is
and 20 per cent for the leading high
priced stocks. There was no difficulty
found in marking up these stocks. and
there was very heavy demand at the
same time for the lower-priced stocks in
the group. and especially the Readings
There were resulting advances in Lack
awanna OF Il points, New Jersey Central.
ex-dividend, 81, Reading -. and other
members OF the group I to points The
movement was extended IL some measure
by sympathy to some OF the soft ccaIers.
There was continued strength in the
Southwestern railroads as a group at ad-
vances OF 1 TO 3 points. This might be
accounted for by reports Of much-needed
rains in Texas. The industrials as
group came forward into rather greater
prominence than OF late Such conspicu-
Gus stocks as Sugar. Amalgamated Cop
per. General Electric and the local trac-
tons showed gains OF I 70 points.
American Tobacco gained another IS
points today. selling at 235, with a later
bid at 245. This stock Is exchanseable
at par for go OF Consolidated Tobacco
fours. There IS said to be less than 5 per
cent of the stock still outstanding. Very
glowing accounts were pGt out OF the
4flLC u CAEoAA1ASA u Ne--e-~N~ A-7---~'-'-
American Tobacco. preferred, gained 6
and the Consolidated company's bonds
we're strong and active. Late in the day
ST. Paul was bid up quickly nearly ?
points. and other grangers and Pacidcs
hardened in sympathy. This late move
ment vas the effective factor in keeping
the closing firm, as a waveriug tendency
had developed before St Paurs rise. The
bulls had in their favor the prospect OF a
strong bank return tomorrow. The
known movements OF money Indicate
gain in cash of nearly 5000 600. Of which
sub-treasury operations have yielded 81
I25. 600. These represent operations Up 10
Thursday night. Bank statements FOR
several weeks past have failed 70 re-
fleet the full gain Indicated by the
known movements OF money. There Is a
theory that there were large transfers
of deposits from New Jersey TO escape the
tax payments. and these have been re-
turned during the week. Such move
ment would considerably augment the
indicated gain in reserves.
The railroad bonds market was &C
tive and strong. mortgages Of railroads
in the southwest being in particular IA
vor. Total sales. par value, AoI5.ooo-
United States bonds were al unchanged
OF the last call