The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-04-25
OUIETNESS
PREVAILED
May and June a Half Lower
Corn a Shade Higher.
PROVISION MARKET FIRM
Small Receipts and Better
Prices Send Pork and Lard up

New York, April 24.-DeaIings in stocks
fell back again today to near the low
| level of the year, partly as result of the
disappointment of the professional trad
| ing element over the failure of the re-
moVal OF the new exchange building to
| stimulate activity yesterday. The fall
] ing or in dealings was attributed in part
TO the banishment from the board room
or class of traders who formerly had
the privilege of admission 10 the lobby Of
| the exchange for the purpose of directing
! their trade over the railing. 1t is evident,
| however, that the public is entirely in
| different to the market for the present.
| so long as this condition persists purely
professional operations are likely TO prove
| futile in effecting any wide movement
or prices The dullneSs of today market
was only equaled by its inertia only
| half dozen stocks of any importance
got as much as a point away from last
nights level at any ime. The sluggish
course of the market was downward ear
~ in the day, largely through mere IN
anltion. Some depression of sentiment
was caused by the disapproval of the
newly inaHgurated freight rates from
Chicago to New York on the part of the
Interstate commerce commission Much
importance is attached TO the advance
in freight rates as an Offset TO the large
H.,
produced the recent downward tendency
in the net returns from the transporta-
ton industry. The fact indicated by
freight blockades and embargoes on he
freight movements that the railroad COM
panies have all the business they can
accommodate gives little hope that low
er rates would prove any advantage by
attracting additional business. The rise
in freight rates has also been so general
that it is feared the decision of the COM
merce commission is prompted toward
similar action toward other railroads.
Some disappointment was alos caused by
the failure of the budget of proposal 10
help American stocks or the grain mar
ket The reduction of the income tax.
II was argued would increase the supply
of capital seeking investment. The re-
mission of the corn duty failed to induce
any large export demand for grain in
this market
There was selling of stocks for London
account. There was also a strong tone
in the sterling exchange market and an |
advance to within measurable limits Of |
the old export point. Later in the day |
the forecast of the bank statement had |
a stiffening effect on stocks. The various |
estimates of the week $ gain in cash |
changed from s5.O90000 to $1,000 900 of |
which 81 250,0 900 comes from sub-treasury |
operations. The progressive ease of the |
money market confirms compromise |
that the position of the banks had been |
much strengthened. Reading was run up |
a point on account of testimony of the |
president of thecompany before the in |
terstate commerce commission. The not |
able advance in the silver market was |
the basis of a large buying of Mexican
railroad stocks owing 10 the increased
value of Mexican money which
resulted. Amalgamated Copper suffered |
from the weakness of the cC pper market
The market closed intensely duh but |
fairly steady at the late recovery. There
was some continued demand for The new
er issues of railroad bonds. Otherwise
the bond market was irregular Total
sales par value. 81 035. 900.
United States bonds were all unchanged
on the last call