The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-10
.IR()[)|NG ID HALI.
Hesitancy Is Feature in the
Stock Market
ATTEMPTS TO RECOVER
Made but With Lille Showing
on Board.

New York, Jan. s.-Speculatioz came 10
hating place today and showed much
hesitation about branching out into nev
courses The sharp upward movement
in the latter part OF yesterdays session
vas evidently Gue to a drive against the
shorts which were PIT out in the course
OF the speculative liquidation on previous
days. IN the absence Of important new
developments the stock market followed
the normal couse n the elimination OF q
speculative movement, the price vihrz-
tons becoming less BY degrees There
were Efforts which persisted during the
greater part Of the day. TO contest the
dropping tendency OF the market and 70
continue yesterdays recovery. The
marking Up OF special stocks was the
device resorted 10. II was not very ef-
fectiv- at any time, although there was
a rally one time which generally wiped
out early losses In the late dealings,
however, when the futility OF the Efforts
OF the bulls became apparent. tired hold
went TO the lowest point OF the day and
generally closed there. St Paul was IN
der severe pressure andfost 3-s. De-
clInes OF between ! snd points are num-
erous among the prominent stocks The
principal stay OF the market during the
time OF resistance 10 the decline was
Manhattan This stock was taken on al
enormous scale by brokers who have been
active IN Il ever since the present a6-
vance began. They made Il touch 40 IS
an extreme rise OF Is. after which II
reacted, closing with a net gain OF 2 "a
The running OF the first experimental
train by electricity over one OF the COM
pany's lines was the cstensible cause OF
the stocks strength. Metropolitan
Street Railway and Brooklyn Transit,
the latter in a small degree, were affected
in a similar way Sugar, after an early
decline had It's period OF strength under
operations BY a speculative combination
based on expectation OF a remission OF
raw sugar duties. The stock afterwards
weakened to the lowest and closed at a
net loss Of 2. The action OF the United
States steel stocks has proved great
disar pointnent 20 large element among
professional spectators who have been
locking for q sustained rise IN those
stocks and an aggressive bull leadership
Of the market. Both classes OF stocks
were sold today both for home and for
eign account The hostile steps stil IN
prospect against the Northern Securities
Co. continued 20 form z repressive Unfit
ence. The money market has lost It's
stringent tone, but renewal OF supplies is
by no means so abundant as expected
The sub-treasary has contributed a small
amount 70 the markets supply owing 70
large disbursements on account OF post
ONCE contracts but this IS contrasted
with weekly gains during January, last
year from that source Of from s. GOO TO
over 6 90. 600. Collections OF customs re-
ceIpts are very large az this time, thus
ofrsettiue government disbursements on
other accounts. The London money mar
ket showed symptoms OF hardening today
and this tendency is expected to Increase
later IN the month Today's Bank OF
England statement shows the weeks re-
PAYMENTS Of loans 20 that institution 70
have reached nearly s7oeCo,ed0. thus more
than ofsetting last weeks free loan e1-
mansion. The Bank OF England Is thus
placed n a position 70 control the Lon
don money market and IS expected 10 use
its power 70 keep up the money rate with
a view 70 attracting foreign gold IN PREP
aration for the new war loan now iurnin-
ent. An advance OF per cent n dis
count rates by the Banks OF Bombay and
OF Bengal as made today Is not an unus-
rai preliminary TO an advance By the
Bank OF England
Bonds we're dun ard Irregular. Total
sales pa- value. 3 $50. 900. United States
refunding 2s coupon advanced - Per
cent on the last call
r,,,-s,- --+osg - s+oo.zs we're "a follows.