The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-05-07
STOCKS AND BONDS.


New York, May 6.-The stock market
today was so inert that the utmost en-
deavors of the traders did not affect more
than fractional changes except in hand
ful Of stocks. The prominent stocks
which started upward on Monday and
early yesterday continued to hold q con-
spicuous position in retaining degree of
their activity, but their small net changes
In prices for the day are a strong indi-
cation that profit-taking was actively 30
ing on in them under cover of the new
points OF strength.
st. Paul. the Pacifics, Louisville, Read
ing, Erie, Baltimore and Ohio and other
stocks Of this class ended the day prac-
ticaily unchanged from last nights prices,
though they absorbed q large portion OF
the day 5 dealings. St. Louis and san
Francisco and Rock Island were strong
and active all day with no apparent -ea-
SON than 2 revival of old rumOrs of the
purchase Of the former by the latter
These rumors seemed 30 meet with little
credence in consequence OF suspicion That
the homevent In the stocks were de-
signed as a cover for prOtit-taking On
other points Stocks affiliated with St.
Louis and San Francisco however. Were
quite consistently strong. Pere Marquette
and Kansas City, Fort Smith and Mem
pnish shared in the strength Of the parent
company. There was an advance Of y /
points in illinois Central, which seemed
TO be supplementary to yesterdays move
ment in Louisville.
The strength OF Amalgamated Copper
was nominally based upon an advance
in the London price of copper. Brook
lyn Transit enjoyed the benefit of pub
lie estimates Of large earnings from the
the increasing summer weather traffic.
II.
Mexican National stocks, which was at
tributed 70 rumors that the principal COM
petitors in the trade were about to com
bine. There were no notable movements
outside of those specified and there was
4 sharp falling off in the volume Of deals
compared with yesterday.
The course of foreign exchange kept
the question OF gold exports open all day
The steady advance here only kept pace
with the rise Of sterling in Paris, so tibet
the expected triangular operation by
which gold would go 10 Paris was kept
beyond the bounds Of profit. Bpt ship
ments Of gold direct TO London began 70
come into calculation when the rate for
demand sterling got above ass The in
quiry for cable transfers was even more
urgent than that for demand bills. The
movement was clearly due TO preparations
of participating in the pending Transvaal
loan. Every indication goes 10 show that
this loan will be heavily over-subscribed;
that intending subscribers are putting IN
bids much in excess Of their desired sub
scriptiOns in order that their allOtments
may equal their requirements The pro-
cess Of Over-subscription Of course en-
phasized the demand for exchange. With
the opening of subscriptions TO the loan,
winch is expected tomorrow, there is
likely TO be a sharp falling of in the de-
mand for exchange. The local money
market was unaffected and offerings on
time We're rather freer than heretofore.
The market closed heavy and dull.
There was very good demand for
bonds, especially those paying per cent
or over on the investment Total sales.
par value S2.100O0O. United States 5
advanced Is per cent on the last call.
Closing quotations of stocks were as
follows: