The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-12-11
STOCKS AND BONDS.

I New York. Dec. 10.-The stock market
: was awakened today from the condition
OF l1thargy whieh has recently prevailed
by an urgent and p-eciDitate selling move
nent- The selling gained in volume as
. the day progressed, until violent declines
were forced Iu The last hour Of the trad
ing Taking Of qaick profits BY the room
traders was the ouly source OF buying,
and the closing was extremely unsettled
ard active. though above the lowest >
ures. Loss reached 5 points or over N
q rev OF the leading tive stocks, in
gliding 81. Paul Pennsylvania, New York
Central. Reading, Manhattan and Anal
goulated Copper Losses generally
ranged rom , e over points There
were evidences Of professional attack on
the market. but the decline 10 prices dis
larged large stop orders and induced the
selling OF long stock by The raid holders
The tactl- in causing the decline vas the
shipment Of a million dollars in gold to
South America and growing evidences OF
severe pressure IN the money market.
The liGU.duation die not appear 10 be
forced by actuai large calling Of loans
as the call loan rate did Lot run above
o per cent. but apprehension that this
measure would be adopted lbs the banks
played large part in the decline. Be
sides the gold 0Utso. today 5 sui-treas-
ury STAT mcrt showed nearly $4,000 adj
GtiOnal cash taken up from the money
market TEe inrCads upon banking re-
serves since the last bank statement have
already risen ah1ut S4599gJ0. with prom
Use Of a continued decline.
n the time money market additional
dnscDlty was found ia securing loans on
any terms The o per cent rate e. all
periods was purely nominal and the ac-
tual rate paid was entirely matter CT
private treaty between borrowers and
lenders and depeuded largely on claims
OF previous busin' s. association
The foreign eNcnancc market was un-
affected by the gold engagement and
held steady at Yesterdays figures New
York exchange at Chicago also fell back
TO I0c premium. The days scales of
grain for export proved somewhat dis
appointing and disturbed the hopes OF
an early replenishment Of the foreign eX-
change market from that source. The
small receipts of cotton tended TO the
same conclusion. Favorable factors were
ignored In the trading ana the weakness
of the particular stocks affected by the
special news developments had a sersa-
ti0lai effect III weakening the whole
market. Thus the agreement reached in
tie Colorado Fuel dispute was greeted
with 51a point drop in that security. the
argument being that the settlement re
moved the stock from the influences Of
a i4dlArA NtlLr0l 4h4 fpi-liti
The circulation OF "a syndicate contract
inviting deposits OF Hooking Valley stock
for the purpose OF returning the preferred
sock and of voting the common stock
for consolidation. mergers or other com
s.uation. carried pretty broad iEUima-
ton Of plans maturing for the consOlida-
ton Of control Of the bituminous coal
carriers ir the middle states. but this
only served 10 induce realizing in those
stocks. Reports of a working eIoement
between Union Pacific and st. Paul du-
thoriues for tnroug hbusiness did not
save st Paul from being the weakest
stock on the list. heavy selling OF North
aVn Securities on the curb had a sympa- /
-hctic effect ON the whole market.
The bond market became weak in sym +
)athy with stocks. Total sales, par value, +
2. $4,000 United States I'D coupon de-
elined Is per cent on the last call.
Closing stock quotations were as fol- +