The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-10
STOCKS AND BONDS.


transacted today On the stock exchang.
than at any day since the semi-panic
! conditions OF the middle OF December
| last
Although the market became extremely
irregular and AT one time generally re-
dictionary. there was q free. broad mar
Ret during the whole day. and the clos
ing was firm and active at rally from
The low point The report Of the details
or the arrangement OF the control OF IN.
trading between the Pennsylvania and
the Vanderbilt interests caused the spec
ulaiive imagination to catch fire and op-
er4tions were hastily resumed seemingly
On the assumption that all the recent
| lis resulting from an overpIus OF new
secUrieties and an inadequate supply OF
capital 20 take them up had been cleared
away The conclusion vas arrived at By
Inference that further projects would
&c pushed for the harmonizing OF control
Of the whole eastern trunk line railroad
and anthracite field. with subsequent de-
signs on the soft coal field through the
medium OF the distribution of control of
Hooking Valley among the same inter
ests that are TO share the reading control
There seemed 10 be an impression that
this would herald an assumption OF a
large number OF projects OF consolida-
tioa and merger which were interrupted
by the strinsency in the money market
The prospect that this would rnultiIy new
securities again and involve heavy syn-
dicate requirements seemed TO have nom.
Of the recnt terrors and new buyin. ord
ers were poured into the market this
morning from every quarter, including
some by cable from London II was OBJ
yiOus from the start that this demand
was literally led by sales 10 take profits
by the large buyers OF yesterday and the
preceding days. but the buying was suf-
Recent to absorb this realizing for time
and 70 initiate fresh advances here and
there. Reports that the dispute between
the Pennsylvania and Gould interests
had been settled caused buoyancy in the
Wabashes. There were subsequent dem
onstration OF strength in other Gould
stocks. notably Missouri Pacific and Man
haitian. which initiated movements re-
.pectivsly in the Pacifics and the local
transactions and which were not ex-
planned by any news OF the cay. Money
continued quiet easy. in spite OF the
heavy new demands resulting from the
speculation and strong bank statement
was forecasted both by the large move
ment OF currency from the interior and
hy the gain on sub-treasury operations
resulting from the payment OF govern
rent interests and the transfer of cur
rency from San Francisco Late in the
day. when the market had become r.
dictionary. a belief gained currency that
large imports Of gold were in contempla-
ton at early day. The rising money
market in London. the sharp rise in s;er-
Ing at Paris and the indications that the
Bank OF England is disposed TO main
tain the open market rate OF discounts
were adduced as evidence OF the HkeIi-
hood OF such a movement at an early
date more reasonable explanation Of
the reaction. aside from the natural profit
liquidation In Reading due to the fear.
OF the holders that as a minority inter
est they would have little 20 hope for IN
the new position OF the stock The mar
ket was supported at the decline. and the
closing was firm at the rally
The bond market was broad. bur irr.gu-
lar. Total sales par value 81 .Ooo
Closing quotations Of stocks were as
fellows: