The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-02-05
st. Joseph.
CLOCKS AND BONDS.

New York, Feb. 4.-Yesterday's level
or activity in stocks was pretty well
maintained today and there was evidence
OF considerable strength in the market.
The operations seemed to be confined
still 70 professional hands. but the lead
ership WAS aggressive and better organ
lied than for some time past. and there
was evidence of the control OF large re-
cources by those operations.
It was the theory OF the board room
operators that the action OF the market
was largely due to the foregatheTing of
a number of well known stock operators
at q southern resort, abundantly sup
Piled with special wire service Included
in the gathering is the operator whose
name has been associated with the prin-
cipal stock market senSa tons for many
months past. Whatever was the source
of the buying, the movement was spotty
and irregular and the earlier movements
were not well maintained.
The operations in Reading were on a
growing scale during the day and II be-
came easily the leader of the market in
the late dealings. with a rise of over z
points above last night. There was no
news to explain the movement beyond
the heavy earnings stated 10 be accum-
ulating in the treasures of all the coal
carrying railroads.
eral postponed steamship sailings on ac-
count of delay in securing coal. This
was accepted as illustrating the univer-
sal pressure for this product. Whatever
the advantage of such a condition to the
coal carrying railroads. il was not con-
siGered favorable to the industrial situa-
tion al large. Semi-official confirmation
was given 10 the association that Union
Pacific and Rock Island had been brought
too hnv in, an asrral f0ar Mt
assuring mutual advantage by inter-
change of business Nothing definite
could be learned of the scope of the agree
ment. but the report was accepted with
satisfaction as a substantial step in
community of interests which avoided
future damaging competition The publ
cation of this report was probably the
cause of revived rumorS that the pro-
posed merger of the Gould railroad prop
reties was almost ready for announce
ment. The stock of various companies
effected by these rumors were not among
the speculative leaders of the day There
was an opening squirt in Rock Island.
but that stock fell back almost imme-
diately and was more steady for the rest
of the day. Union Pacific was firm, but
not active and Southern Pacific rose
point in the late dealings. The rise in
St. Paul was supposed to be traceable
10 the same source as llldt IN fNeduihS
The strength in Erie common was only
moderate, but the preferred stocks, espec-
tally the second preferred. made better
advances. Amagamated Copper contin-
ued to advance on account of the better
sentiment in copper trading. Yesterdays
sudden movement in Union Steel stocks
was not followed up today and those
stocks were inclined to drag. This fact
and the failure of the Rock Island stocks
to retain their opening gains threw the
market into a condition of hesitation and
uncertainty. but the rise in Reading and
gains by a miscellaneous assortment OF
minor stocks had n somewhat reassur-
ing effect.
Money continued easy and exchange
firm without affecting the stock market.
The closing was quiet and steady.
Bonds were steady. Total sales, par
value 3.475,O00 United States twos de-
rined Il per cent on the last call.
Closing stock quotations were as fol-