The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-10-14
STOCKS AID BONDS.

New York. Oct. 1S.-The violent and
almost uncontested break in prices OF
stocks this morning and a practically
complete recovery this afternoon is the
history Of tOdsys market The closing
prices showed a sprinlIling of net gains
amongst some Of the most important
stocks on the list reaching point in
Reading and Ontario and Western. At
one period before noon there were ragged
declines indicated OF all the way from
! 10 points from Saturdays level. many
OF the leading speculative stocks having
lost 3 10 4 points in the two hours OF the
trading. The sentiment in the street
seemed mixed before. the opening be-
tween the contending influences Of the
reports that settlement of the coal
strike had been arranged and the admo-
milton contained in the Saturday bank
statement that there must be further con
fractions of loans placed in the stock
market. The latter influences swept
away all other considerations and with
the exception Of monetary rally after
the opening due 20 the taking Of bear
profits by Saturdays short sellers. the
market pursued steady downward
course under a continuous stream OF
iiQuida ton. II was evident that further
selling out on the part of some OF the
larger speculative pools was going on pre-
sumably under pressure OF the demand
from money lenders for repayment or
loans The Goulds Southwesterns and
some Of the stocks IN which the so-called
western contingent have operated largely
were notably affected. The recent ten
dencv OF higher priced investments in
stocks which had been purchased 70 an
extraordinary level 70 break violently
on small sales continued In evidence in
the cases OF American Express. United
States Express. Lackawana, Delaware
and Hudson Great Northern pfd-, Gen
eraI Electric and similar stocks. When
the liquidation showed signs OF decress-
ing the bears caused sharp raiN o3
covering of shorts after which the mar
ket lay sluggish and neglected Tor an
hour. The speculative sentiment then
Welded 20 the influence Of the hhopeTui
feeling that the conSulungS and actiNi-
ties of the financial and operating pow
ers Of the great anthracite companies
would lead to a substantial result IL the
settlement OF the coal strike. Any ad-
mission OF 8 change in the deadlock was
impossible TO obtain and the unvary ing
assertion on the part II tho operators
dealt only With the possibility CT tmproF-
ing the output ~ the mines under protec-
ton Of the military oy seceedeTs rom
fhs strikers But TIE action Of the mar
ket reflected the faith that DEVELOPMENTS
were Forthcoming looking 70 a settlement
Reports received over sunday ct ne -
CENT Of the several parcels OF Eolc rom
T,lro0e and Of the unexpected arrival
within two weeks at san FRANCISCO OF
& 500 600 add Ucnli Australian Scid were
po1erleSs II Offset the depressing in1u-
ence of the hank statement Money went
10 Is per cent soon after the opening
Sterling exchange broke SHARPLY plL clc-
cvounts in London RESPONDED Wa an
> Tsa7c The coming weeks syndicate
reotsirenents which foot up Some S2t9se. =
61l' yyera considered formidable IN view Of
the money situation rms inclloes an
49, e. 49, at3 navrnent on the purchase
~ control OF louisville and Nashville
81 na9 a1 on acccunt ~ New Baltimore
ard ohio stocks ard N-.efaep or account
~ Pennsylvania sis per cent eonverroie
warrants
Tbs market closed with the rally III
frH force ana prices "a the TOD level
Bonds weakened and recovered IN ss m
r,.+,-,- vfrh stocks Total salcs. par
: new and old IS declined 4 per
cent each or the last call
closing quotations II stocks were as
follows