The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-01-24
STOCKS STILL DILL
Nc Animation Returns to En-
Iiven the Trading.
MOVE IN VANDERBlLTS
Occurs But Is Due TO Special
Causes.
MOVE IN VANDERBILTS

turn of animation TO the stock market to
day. and the bulk of the small operations
was confined TO a short list Of stocks
which advanced quite strongly from the
influence OF special causes. Even in these
the dominant professional element was
evident in the selling TO take profits on
the advance. There was a movement. in
the vanderbilts which was apparently
stimulated by assertions that part OF the
new stock issue of the New York Cen
trail was to be exchanged for that Of
Cleveland, Cincinnati, Chicago and st.
Louis, but the movement spent its force
in the course OF the day. ST. Lawrence
and Adirondacks was marked up over 4
points, apparently on the expectation that
it would be taken over by the New York
Central. The recently prevalent strength
of the local traction stock, led by Metro
poiitan Street Railway, continued for a
time today, but the whole group sue
cumbed to realizing. Sugar succeeded TO
the leadership of the market, and late in
the day was lifted S& points over last
night. An advance of 10 points in the
price Of the product, and reports Of an
agreement at Washington looking TO the
free entry OF Cuban raw sugar were ac-
countable for that movement. The news
that an agreement had been reached be-
tween western railroads and packing
house interests TO maintain rates. thus
relieving the Objectionable conditions
against which the inquiry by the inter-
state commerce commission is directed,
had stimulating effect on the Pacifics,
Changers and Southwesterns.
The recommendation in the commits
sions annual report in favor of allowing
associations to maintain rates. was also
a helpful influence for western railroad
stocks Missouri Pacific led with rise
oil over points. Dealings in the railroad
list were on n small scale, however.
Amalgamated Copper showed some
strength on the growth OF foreign demand
for raw copper. There are growing
symptoms of plethora OF money at all
of the great centers of capital. Today.s
reduction In the Bank of England's .
count rate was contrary to expectation.
as large collections of taxes were ex-
pected TO deplete the London money mar
ket at this time, and it was thought 70
he necessary TO keep up the money rate
in order to prevent Withdrawals OF French
capital Todays statement OF the Bank
of France shows such an accumulation
there as TO offer little iuducement to call
home capital, but Berlin seems the CEN
ter of greatest redundancy. as is shown
by the fact thai Berlin has been buying
bnls in the London money market and
easing the discount rate there. while in
the very act Of subscribing sixty times
ever for the proncred government loans
of .75.o00,coO, all of which has not pre-
vented a decline in discount rates at that
center. There is a continued accumu-
lation of money in New York also, but
without the stimulating effect on specula-
ton which is manifest at other great
money centers A remarkable develop
ment in the situation is the fact that
very large time loans. running into the
millions of dollars. are being negotiated
at interior domestic points for New York
account
There was continued activity among
usually quiet bonds. and some striking
gains were recorded. but the market gen
orally was irregular. Total sales. par
value. s5445,00O United States new fours
coupon declined "a per cent on the last
call.