The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-16
STOCKS AND BONDS,

New York. Jan 15-There was very
little character 70 tedays stock market
as Is sufficiently indicated BIZ the volunas
o. dealings which fell 20 about the hal.
million share mark The subsistence OF
the recent furious activity in the trading
IN Erie left little to the barket The
sudden subsistence had q good deal 10
do with the feeling OF suspicion, which
repressed the dealings Il stocks Yes
terdays transactions in Erie OF over 20,
uu shares at a net change for the day
OF half point struck the traders as
rot consistent with the idea OF comperi-
tive buying Of the stock for control
This suspicion was reinforced BY the sc-
ton OF the stock this morning After
nomentary advance OF a small frac-
ton. the price fell back 20 below last
night in ma way that suggested the real
ling Of speculative profits. Explanation
Tor the shifting OF the buying 10 the
preferred stocks. which wee both strong
was sought in statements that the con-
troi OF the property was really being &C
CURED through the preferred stocks. but
the higher prices in comparison OF these
stocks and the comparatively small vol
uIne OF their total outstanding issue did
not commend this view 10 the traders
The continued liquidation in Reading
also created a bad impression upon spec
ulative sentiment. and this impression
was not dissipated by the marking ND
today OF Ont-r.o and Western in the
anthracite group and the advance in
Chesa peake ana Ohio and Hooking VAL
ley in the soft coalers- Rock Island and
Paul continued heavy, with important
sentimental effect upon the rest OF the
list HE result was narrow and slug
gtsh market. with only few stocks IL
fiuenced by special causes.
Sugar suffered from a fear that effect
i've opposition was developing 10 the Gu
ban reciprocity treaty. AmelaSamatej
Copper moved on the dividend Geclarat ton
and in sympathy in the rally TO the mar
ket for metals Missouri Pacific was ac-
compsnied by rumors that the plans for
financial adjustment OF the Gould prop
critics was about ready 10 be put into
operation.
There was no disquieting element in the
money situation unless IL might be the
indication that the Bank OF England is
disposed 10 build Up its reserves and
maintain the money rate. The consider
able decrease in its holdings of govern
ment securities seem to point to borrow
ing from the market to decrease supplies.
Whether this is measure Of protection
against the demand for gold from Paris.
or is preliminary to an attempt TO attract
foreign gold TO its own vaults. does not
appear yet The advance in the official
discount rates OF the Banks OF Bombay
and Bengal were significant of the har-
dening tendency of the English money
markets. The Bank OF France also con-
tilues to lose gold while demands upon
IL for credits continue heavy. both by
note and expansion and increase of loans
New York banks continue TO gain cash.
but the gains from the sub-treasury are
due to heavy payments on government
contracts and for pensions. which arc
made in bulk in New York. but which are
now about completed. Time money rates
were reported rather firmer. None of the
upward movements were well maintained
and the closing was dull and easy. at
about the low level OF the day.
Bonds were dull and Irregular. Total
sales. par value. s.. $500. United States
twos advanced !. and the new tours,
coupon. l per cent on the last call
Closing stock quotations were as fol-