The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-09-23
STOCKS AND BONDS.

New York. SeDteruber. - There was no
change today in the narrow and profess
sional character OF the stock market. The
oullnesS and lassitude were somewhat &C
centuatcd Dy the occurrence Of the jewish
New Year. which caused an absence OF a
part of the membership Of the exchange.
The price movement was an inversion Of
that Of yesterday the advance coming
early and the reaction later with nnal
prices showing insignificant changes from
last night For the nrst time IN a num-
Der Of days United States steel did not
touch new low record and this was
taken by the leaders 10 indicate that the
nquida ton III that security was over.
They marked up the price accordingly and
the advance in the general market was
little more than sympathetic response 10
this movement. Late in the DAY urgent
selling pressure developed in the United
States steel second mortgage bonds. They
were forced down 10 q. which IS s lower
than their previous lowest prices and they
closed only half better. This prompted
the traders to throw over the stocks theN
had taken earlier in the day and wiped
o,lt the day' : advance with the result that
small losses are interSperSed with small
net gains The buying movement o. the
morning was largely cOncentrat tea. a single
house being credited with the purcha
of no less than $4,000 shares around tne
room. There Was little In the news or the
day I oSccount for the movement OF
prices. The collapse of the efforts 10
save the Consolidated Lake Superior COM
psny from bankruptcy seemed TO nave
been discontinued and may even have
been a factor I'm he recovery Of United
States steel The removal OF the pros
pect Of the immediate demands upon cap
ital to kee pths company ahoat seemed
10 afford a grim sort Of relief IN the spirit
Of dread OF corporation credit require
rnents which Wall street has come 10.
The same spirit was responsible for the
SHARP drop Ia New York Central on the
revived reports that the company was ne
gotistin a large loan % provide Tor us
immediate requirements in connection
with terminal improvements in this city
The news from the crops continued Ia
vorabla the weather bureaus weekly re-
mort receiving bcarish interpretation
both as 10 corn and cotton. The grangerS
were well supported in consequences
throughout \ round million OF dollars
was deposited At the sub-treaSur\ for
telegranhic transfer 10 NeV orleans
Showing the report Of the maximum
showing she approach OF the maximum
flow for the season OF cotton crop Iuncs
offerings Of cotton bills in the exchange
market continue scarce ana inc alNanc
IN discount rates in London WAS renee ttN
in the nrlnness of the exchange market
here London fearing an early advance
in che Bank Of England rate - per cent
With the fTer movement ~ tho cotton
cron evidently imminent il i hoped thai
The sunnlv Of cotton bills in the exchange
market Will soon make its influence mani
fer The day : tranSf~rs 20 NFN Nrtt ~
were sufficient TO about wipe out the
Gain ~ the bankers from the suo-trs as ~ E
since last Friday. The market closed easy
T-Ee lsts break ID. United states steel "a
SIS caused sympItheuc weakness ID tns
farTat ~ .~tcEa.,.r ioilS ll-ii he'-