The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-09-04
STOCKS AND BONDS.

New York, Sept. 3.-The course Of the
stock market today was in marked con-
trast 10 that of yesterday in that 1t was
governed largely by different influences
although Reading and some Of the other
coalers were to the fore. The opening
with a renewal Of the previous days bull
ish enthusiasm and strength the lis re-
ceived what at first threatened to be a
serious setback on early news of the mar
ket to the presidential party. Rumors
more or less conflicting were numerous
and the list underwent a general recess
sion. AS soon as the extent OF the dis
aster became known, the market re-
covered the greatest part Of its strongest
undertore. but for a time there was
marked decrease OF operations. Later.
however, the early activity was resumed
and the day as a whole. was the largest
in volume OF the present season. The
last hour witnessed an extraordinary
squirt in Pennsylvania. that stock sell
ing up TO 1854. a net advance Of five
points in transactions involving over &c.,
Geo shares. The advance in this stock was
accompanied by rumors crediting the
road with control of Reading. Another
reason advanced in explanation of Penn
syIvania's strength was the rather good
showing made in the companys reports
for the first seven months of the year.
Net earnings on the lines directly oper-
ated by the Pennsylvania for the period
named show an increase of over $2.59o. 900
while the company's lines west Of Pitts
49,
than H.500.000. Interest continues to cen
ter largely in Readings and the com
mon opened with material advance on
heavy transactions. The gain was almost
entirely wiped out as soon as the Pitts
field incident became known. Suisse
quently, however. the stock more than
recovered this loss, selling up TO 7s15
closing at 7615 and registering a net gain
for the day of more than point on trans
actions aggregating over 2s5, 900 shares.
The other Reading issues on moderate
trading made fractional gains There
were no material changes in the other
anthracite stocks except in New Jersey
Central, which declined four points In
the soft coal group Norfolk and Western
was the feature the stock scoring a
substantial gain on very heavy trading.
Pittsburg. Cincinnati, Chicago and St.
Louis, on a very light transaction, made
a net gain of over points and Cheese
peak and Ohio, in which operations were
quite extensive, also closed a material
advance. Labor Commissioner Wrights
report on the present strike situation
created no little comment. In man quar-
ters the report was regarded as distinc-
lively favorable to the miners. The trade
in Reading had every indication of COM
petition buying and reports of a triangu-
lar contest involving Pennsylvania, Nor
gan and Gould interests were prevalent.
Pennsylvania sharp advance toward the
close already referred to. gave color TO
these rumors. but nothing tangible came
from any authoritative quarter In addi-
ton to Reading common. new high rec
ords were made by Atchison, Baltimore
and Ohio, Norfolk and Western. Pennsyl-
yania. st. Paul, Detroit Southern pre-
ferred, North American. Wheeling and
Lake Erie, Sloss-Sheffield Steel issues,
Southern Pacific and several less con-
spicuous stocks. Marked strength was
shown by Illinois Central. New York
Central, Rock Island, Denver & Rio
Grande, Manhattan. Sugar. Amalgamated
and Anaconda coppers and International
Power. In the curb Northern SECURITIES
vas again very strong. with new high
record. Monetary conditions continue
although a fair amount of
money was placed at per cent. The pre-
vaiiing rate was ~ per cent. Reports
ashington agree that the treasury
is prepared for any possible money strin-
gency.
The bond market continued very active
and showed some irregulsrity on profit
taking. Total sales, par value, S4.1S5.ooo.
United States bonds were all unchanged
on hte last call
Closing quotations OF stocks were as
follows: