The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-04-18
STOCKS AND BONDS.

New York, April i7.-Southern Railway
fell comparatively into the background
today, taking a place well down On the
list OF active stocks. The stock was IN
der pressure Of realizing all day. al
though Il made some recovery after the
official statement late IN the day Of the
absolute control exercised over Louis
vile and Nashville by j. P Morgan The
somewhat equivocal terms in which the
Information has been given 10 the pub
( lie regarding the settlement OF the Lou
isville and Nashville dispute and the
emphatic disclaimers by Southern Rail
way officials OF any interest on the part
OF that road in the settlement had left
room for all sorts of rumors Of possible
. further cOmplicatio which il was tho't
desirable, apparently, 10 check. Louis
/ vile and Nashville stock also rallied
strongly 10 IS over last night after the
statement appeared. II was regarded as
striking demonstration Of the secure
hold Of the speculative situation which
has been obtained by the group OF west
ern millionaires now the leaders Of tne
market that they should have been able
70 keep up the show Of strength in the
market in the face OF reactionary ten
denotes in Southern Railway and other
unfavorabie factors. As amatter Of fact
extreme animation and chow Of strenth
were the features OF the market. bearing
every resemblance TO previous bull mar
ketS. The irregularity due TO active
profit taking going on side by side with
new buying was also in evidence, mark
ing the diversion Of speculative profits
from one group Of stocks into another
The Coalers were the most consnicuousIv
strong stocks led by the Reading which
vas dealt on iii an enormous scale, even
after allowing for the reckoning IN half
shares or The par value Of $50. Reports
were circulated that a secret agreement
had been reached averting the pOssibili-
y of a coal miners strike. Heavy buy
ing orders for the Readings and Fries
came fr n London and the impression
was conveyed that these were due 70 Mr.
Morgan : presence there. The cOalers all
suffered from profit taking towards the
last. and the leadership OF the market
was shifted TO AtChiSon. which rose sud
denly TO 81, followed BIZ Colorado Fuel
and Louisville The explanation OF the
buying OF Atchison was not forthcoming
but the stock has not shared IL the re-
cent advances among the Changers and
Southwesterns. which We're all somewhat
affected by realizing today. Intertwined
with these dominant movements we're
many cross currents among minor stocks.
some deCiing but all due 10 some fndf-
Vidual causes or 10 operations by specu-
latiVe pools. The rather decided action
IL the grain market rejecting nisgfv-
iugs over the weather conditions Tor
The crops was quite ignored in the trad
ing The reduction of the Amalgamated
Copper dividend which has been looked
forward TO with apprehension for a long
time. was totally ignored and that stock
Itself was run up after the announce
meut OF the dividend 70 point above
last night after having fallen Is. The
stock closed with a fractional net loss
United States Steel stocks moved I'd
point after long dormant period. Evil
dences Of recuperation IN the local money
market were conserving influence on
the speculation Si1s sub-treasurv has
contributed something 10 the loca money
market By reason OF large pension paw
merits and considerable shipments IN
gold from san Francisco are coming IN.
The movement Of currency from the in
terror IS in favor of New York and the
s-eadinesss OF the sterling market shows
that provision for American substitution
. the British consul issue does NOT
threaten immediate further gold exports.
The market closed active ard Irregular.
Bonds were quite active and irregular.
Total sales. par value. 8 2s3.0l0 E.
Oh Fours coupon advanced = per cent
and The Threes coupon declined = ue-
cent on las raT1