The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-04-10

this case. but anxiety had apparently
subsidized for the present, and it was
clearly not one OF those developments
which was expected during the Easter
holiday. Early in the day the weight
of apprehension was in fact heaviest and
the apathy in stocks was manifested by
their Discrimination 20 leave commitments
Of the short side open over the holi-
days. A steady demand to cover sNorts
had lifted prices to the high level of
the day "a about I o'clock. at which time
net gains in practically all Of .le prin-
cipal stocks ran from ! TO points. This
disposition TO cover short was due for
the most part to the prospect that the
banks would make a favorable statement
of condition on Saturday, while the stock
markets of the world are closed for the
Easter holidays. The banks already
have gained since Friday s7E 900 on sub
treasury operations. and they are esti-
mated 70 have received from the inter
Tor something over a million dollars In
the same time. In view Of this pros
pect. the firmness OF call money today
was rather ignored. being aftribeted TO
the special demand TO carry over the
triple holiday.
late in the day. after the market hat
been broken by the news Of the North
ern Securities decision. the money rate
hurried to 10 per cent Sterling exchange
advanced several points and discounts
rose in London. leaving tphe future
course Of our money market open to
some question.
4 violent recovery in raw copper IN
London led 10 a large buying Of Anal
gamated here. There were signs Of dis
tress among the shorts in sugar. and
there was a notable demand for the Pa
ciic, st. Paul and United States Steel
stocks. All these things helped Is give
tone to the early market The collapse
after the Northern Securities decision be-
came known vas sponGingiy vio-
lent Northern Securities itself. after
having sold AZ 1asaS on the curb. dropped
to Ioess. with a final rally 10 1904. clos
Ing - bid
Union Pacific resisted the Erst decline
but was heavily sold afterwards. its Po-
sitlon being considered peculiarly az
fected by thu decision by reason % the
Southern Pacific litigation. Fricos drop
ped -. rejecting ;he fear that the Rocs
Island deal would De prevented. Penn
sylvania and New YORK Central Tsre also
heavily sod. the former touching 15sz..
a new low level on the present movement
The whole market rallied substantially
AZ the last. on covering ~ shorts. and
closed dali bat steady TIE notice u
ap5esi IN tho Northern Securities cass
was cited in an argument . sIisy appse-
hension. tut the sVeepins character =
the decision and fhe unzuiui;v q TIE
cour. had : Glscourseiuc eject CT fEoss
who hope for q reversal.
Bonds Weakened II Sympathy xlth
stocks Total szies. par value. ,1.sszss.
The stock n2rsst had resa eslif.s-
" narrow and Wholly professional der-
tzx the week IRE f'lettz;i1as have beez
irregular a times buf prices yorsad 20
. higher Level gsrersHy hsfoTe fhe late
b-ezk to-day Ths approach q three
DAYS halsssF Rad fhs trevltz aSe erect
Of cu-tzHlaS speculative oS-rzfsoaus Ths
puhsLc rarstEa-stsos over ~ 80 sson aal
aszas . fhe Sa1rhsra Hscs1c. Essi 5ss
b~en al st1s:Iozzi rey-exs3Fs srfs
TIE diss1luf-or x re ferufa-srs ls51sr-
sio- aEzs1sl ~ rSsf-x - fks Ensa- "a
csnc holidays = t8e : sSAfTu f,zrt1e
s.-eas % kaV. net tha exf~ctzsso-. = RE
s.---ssstlre cs1tingsns. S0t ;k4x party
seems e have fzsse1 e1.t--e.y &c i-ks