The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-11-06
New York.
STOCKS AND BONDS.

New York Nov. 5.-The hopes deferred
o. some of the large speculative holders
OF stock made their influence felt in to-
days stock market And the renewed
disappointment OF these hopes was re-
fected in the lively selling movement
with which the market closed and before
which prices recedcd l TO ! points lower
than Mondays closing level. In the morn
ing squirt fractional advances were very
general and reached point or more in
one or two prominent stocks. This buy
ing was clearly based on the suppOsition
taht the election being over, active in
terest in the stock was 10 be revived.
There had been a well defined assumption
among certain speculative class that
the recent semi-stagnstion in the mar
ket had been due 70 anxiety over the out
come of the elections. This class was
made up mostly of the members Of large
speculative pools which nave constituted
Themselves the champions Of various
Prominent stocks. Of which they have
taken on heavy lines with the inten-
tion of pushing thei prices 10 a higher
level and then selling out at proEt. The
history of the recent stock market has
heen made up OF the letting go OF sue
cossive parcels Of these large holdings
tv the pools. The demonstrative buy
ing at the opening this m5ning evidently
came from these sources ana was intend
81 20 signalize the supposed passing Of
the peiOd OF Depression. The liquidation
h. yverer. that met the advances was Of a
character TO discourage all efforts 10 put
az prices and it was quickly demon
strated that the recent depression of the
market was due 10 other causes than
erection uncertainties. These causes are
Of So general a ch2ractCr and have been
So widely discussed as nov 20 require en-
Urging upon here. As 10 one OF the most
important Of them. the prospects Of gold
exports to6av's immediate developments
moved cainst export probabilities Ster-
ling exchange at Paris. which is the real
center of The pressure f0r gold. advanced
a fraction and money an0 discounts were
easier in London. Gail money was slight
ly fruer in New YORK The consequence
was that no engagements for export were
,. ode for shipment by tomorow's steamer
as had beer expected by good authorities.
but il is believed that the autumn's de-
uand upon the great foreign banks for
the needs az circulation OF money for
PURPOSES OF trade VIII ultimately result
ir withdra wing considerable sums from
the United States The fact that gold
continues u come in from Australia 70
The Pacific coast. arrivals at that port last
week amounting On 8 sf6 - with s. 70 90
additional in transit. ADDS 20 the rrobab-
uify 81 oufgo from New York. while lu-
surirC against serious cvu effects - tits
QUITO The question Of increasing labor
ccs-- 10th d. transporcat-au anc mauu-
lactura which has been brought Up oy
tho anthracite labor trouble. keeps az
tantion closely fixed upun the problem o
the eliminating point q The period q
rr-sTerity. When the rise II prices
reached a stage at which c0nsumptive de-
rard is checked. the eliminating period
az Industrial activity II - be expected
Speculative -tiertion Just now IS keeuiy
alive IL SYMPTOMS ~ tbs condition
The pressure 30 sen vas felt IL the
ohnd na-ket bur iu less degree than IN
active stocks Total sales. par yaiue.
s. sen Do aited StatcS Londs were all
unchanged Ga -he last czu-
Closing .4Gotztions n stocks were as