The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-08-20
STOCKS AID BONDS.

New York. August 1e.-There were more
shares of stocks sold on the exchange
today than yesterday, dealings rising
again over the half million mark. The
market took On a fair appearance Of av-
erage strength, but an analysis viii show
that the gains IN the majority of equally
active stocks are fractional while the
really striking gains are confined TO a
few spots in the market. The dealings
were largely in professional hands. and
were supposed TO reflect the operations OF
speculative pools. including some OF the
prominent capitalists Of the country
The situation OF affairs was not materi-
ally changed from that OF yesterday. and
the new demonstration of strength was
based largely on a renewal OF many long
current rumors of financial projects and
railroad deals, which are supposed to
await his action 10 be put into force. The
most prominent Of these IN its effect upon
speculation is the formation of plan for
control Of the Louisville and Nashville
There seems a fairly general agreement
that this plan viii take the form OF a
guarantee OF a dividend on Louisville and
Nashville commonly supposed to have been
fixed at per cent. The movement led by
Louisville made itself felt in other south
ern stocks. notably Illinois Central and
Nashville. Chattanooga and St Louis.
Norfolk and Western and Chesapeake and
Ohio were also supposed to derive some
benefit from this cause. although the ad-
vance in Pennsylvania ard Baltimore and
Ohio pointed TO speculation on the soft
coal traffic. A settlement OF the coal
strike and decision on the question OF
the presidency Of the United States Steel
corporation are also supposed TO await
Mr. Aorgan's action
The upward movement in Southern Pa
ciic was aggressively renewed today for
the first time since the announcement Of
the proposed 800, 600 go mortgage 10 pro-
vide funds for betterment- This move
ment was also associated with the home
ward bound movement Of q well known
speculative leader who has operated
largely in It In the past
Canadian Pacific and its subsidiary com
paaies form another center which radi-
ated strength ard the gossip 10 account
for the rise pointed TO efforts BY that
company 70 secure an entrance into Chi
cago. The strength OF Wisconsin Central
and Of the Chicago Terminal stocks seem
Ell due TO the same rumor.
There were various other points OF in
terest in the market. but all seemed
equally due 70 special causes. The money
market was not appreciably easier. al
though there was less tendency TO furry
than yesterday. The rate for call loans
was well sustained, however. at about -
per cent for the largest part OF the
loans. The recent rapid downward
course Of foreign exchange was arrested
and there was a tendency 10 recovery in
that market. Some selling Of stocks here
for London account was a factor in the
flrmer exchange market
II became known today that $4,000 In
gold was shipped out Of the country yes
terday TO Buenos Ayres. supposed 10 be for
the purpose Of moving the crops there
A violent break of 8 points il Colorado
Fuel followed a suggestion that the
struggle for control might throw II into
the hands Of a receiver. The stock
rallied 81. The market closed duh and
irregular.
Liquidation in Central OF Georgia in
come bonds was continued and made the
bond market irregular. Total sales. par
value. 81. s25 90. United States bonds were
ali unchanged on the last call