The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-09
WERE
IRREGULAR
Languid Opening Followed by
Great Activity.
C0ALERS LED MOVEMENT
Resumption of Many Deals
Incites Speculation.

New York, Jan. s-Today's stock mar
ket was languid and somewhat irrcgu-
lar during the early part OF the ses-
sion. but il was. reused into greater ami
nation and general strength by reports
OF deal for divided control Of Reading
by the Pennsylvania and Vanderbilt in
but the Readings themselves were but
moderately affected. beyond fun recov-
cry from some earlier depression. Penn
sylvania also failed 10 share in the
strength awakened by the report The
Fries took the lead and scored advances
OF between q. and 81. on enormous deal
ings. Concise details were lacking Of
the deal. but 1t was taken for granted
that important steps had been taken to-
ward further centralizing OF control OF
the anthracite traffic Reports have been
long current OF large buying Of the Read
ings for Baltimore and Ohio account and
the dominance OF the Morgan influence
in Reading made II evident that the US
Ill O0cclN d&lIC u CDLL-l- D-lHcc4l t4tG
Pennsylvania and New York Central
powers would be followed The fact OF
the resumption OF deals and large
financial projects in the railroad word
was itself an Indictment 10 speculation.
The declining course OF the money mar
ket protected the speculation from anx-
iety on account OF the money situation.
The announcement late in the day that
the bankers pool. which subscribed SSG.-
ooo, oco in the middle OF December fer the
protection OF the money market against
emergency. had been dissolved. added 70
the feeling OF security and led TO the
final outbreak OF buoyancy in which the
market closed
New York Central and Baltimore and
Ohio shared to some extent in the Read
ing report. OF other special movements.
that in the corn grangers was attributed
TO the growth OF the corn movement
although there was some evidence Of
organized market support in Missouri
Pacific and Rock Island
The speculation was continued in sugar.
which is usual on the approach OF a
dividend period for that stock. but there
was profit-takins on the stock in the
latter part OF the day. There was also
evidence OF proht-taking from time 10
time in some OF the Pscifics and St Paul
The United Staes SteelerS showed a ten
dency TO rally from yesterdays decline.
Amalgamsted Copper was very Irregular.
but was inclined TO react under the in
fiuence OF the weakness OF copper both
here and in London. The New York
public utilities continued to reflect the
favorable effect OF Governor Odeil's rec
ommendation for the repeal OF the fran
chise tax The report Of the blizzard
in the northwest was taken account %
by traders who sought to renew the mar
ket reaction OF yesterday.
The recovery in the London none )
market and The Srmer tone OF sterling
exchange attracted some attention The
reduction in money supplies in London
is sufficiently accounted for by the
weeks reduction OF over f00s.co9 IN
the loans Of the Bank OF England With
this largely augmented control OF the
outside market. IL is a matter OF interest
whether the central institution viii at
tempt 70 attract gold from abroad "
will operae directly TO ease the outside
market IN preparation for coming govern
ment loans operation
Bonds were quite active and vsr.
rather irregular Total sales. par value.
s. 5so 1s United States bonds were IN
changed on the last call
Closing stock quotations were as fol