The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-04-16
STOCKS AND BONDS.

New York. April l5.-The notable feat
ure TO oday's stock market was the de-
cided falling of in the volume Of bus
mess. Aggregate sales for the day barely
reached half a million shares compared
with over 10000 shares yesterday and a
million and d quarter Monday. There was
some continued demand to- cover short
contracts TO-DAY but there was also evt-
dence of a further liquidation OF a SUB
stantial but not all precipitate charac-
ter. As prices reached a higher level
there was the inevitable selling which
alrays follows violent decline. By lucky
traders who got in at the bottom and
are quick TO take profits and also on
the part OF the buyers of a more infiu-
entail character who bought on the de-
cline to support the market and 10 re-
assure sentiment with the purpose OF
preventing needless sacrifice of values.
There was large amount of this kind
of buying on Monday and yesterday
morning during the struggle To turn the
market upward.
The fact that Northern Securities on
the curb although quiet. ruled ar a level
below last nights close all day was an
additional incentive TO caution the long
side. Nevertheless there was considerable
buying a. different points in the list OF
seemingly good character and based or
individual causes. Missouri Pacific was
well taken on its report Of net earnings
for February. showing an increase over
February OF last year OF 343-Ilb-Which
is no less than 20 per cent increase. Ehe
other members OF the Gould group moved
in sympathy The Baltimore and Ohio re-
port for March showed an increase in
net earnings Of "a per cent and was free
Is bought in consequence Norfolk and
Western moved up in sympathy and was
helped also through rumors OF a pro-
posed dividend rate The annual meet
ing OF the New York Central stock
holders without any action towards the
new stock issue and without any evidence
20 confirm recent allegations Of a change
IL control relieved some anxiety and had
d favorable influence
Among the industrisls sugar had the
advantage Of an advance in the refined
product Ice. preferred. reflected reports
of an acquisition IN Baltimore. Metro
politan Street railway responded 10 rum r.
Crs that the question of investigation 81
its finances ny the local municipal author
tiles was decided IN the negative IN
advance in the London copper morkct
helped Amalgamated and pool operations
were manifest in United States Leather
stocks \ number Of the iron and steel
industrials Were inclined to advance also.
rhs tone OF the whole market changed
late in the day. when Manhattan began
10 run OF on the news that the demands
of the employees had been refused The
general market reacted and in many
cases fell below last night. the PACING
and western stocks being notably AFFECT
ed. among inactive stocks there =as
drop % = points in Westinghouse Elec-
trio first preferred and Is points IN Font
Worth and Denver City stamped
The money market continued 20 Work
easier. both for call and time loans y M
sub-treasury i contributing largely 70
the local money market by reason % the
increase in refGnding operations and the
rates Of exchange IT interior points N
dicate a tow of currency toward NeW
York There wss a stiGeuiug OF foreign
exchange rate however. and an adVanc'
in discount rates both IN London and
Paris Discussion continues veT5 active
over The possible bearing - rhe Northern
Securities decision II the probable steps
which viii d. taken IN the event n DIS
solution 81 hat corporation The extent
q which the northern Securities STOCKS
have been distributed and the consequent
dissemination Of holdings 81 Scrthern
Parsar and Gres1 Northern stock which
would result trom an exchalge for out
standing Northern Securities stock Eas
subject of special interest IN the discus
sior today as wes also the prcbab-e &C.
ton t. D. tsktn OF the quarterly els
lend on Northern Securities. the regular
ueriod for which l. nov Imminent
Ponds wrrs firm for the most part @l-
though .hers We some recession on TIE
late reaction IL stocks Total sasfs. paT
value & - 90. United States Old - de-
clincd Z. usr cent and the S. advanced
q. Ger cent on TIE iast cal
Closing stock quotaIicos were as
f,,Efr-rS-