The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-01-17
DEALINGS
FELL AWAY
Trade Was Quiet. and 1t
Backed and Filled"
LITTLE STRENGTH SHOWN
Missouri Pacific Only Affected
by Gossip.

New York, Jan. 1s-Backing end filling
was the favorite term to express the con-
| dition of today's stock market, which re-
] nected the same state OF bewilderment
that has been evident in the speculative
| mind for several days past The deal
ings fell away further and the trading
was quiet and apathetic. The few stocks
which developed a show of strength had
very little sympathetic effect upon the
| list in general and their gains were but
poorly held. The most prominent of these
was Missouri Pacific which seemed 10
be affected by prevailing gossip that the
great Missouri project was TO be an
nouaced at IN early date. Readings were
advanced and Southern Railway. Atchi-
son and Sugar and a few less conspicu-
Gus stocks had their period OF strength
Although the earlier events of the week
were considered TO demonstrate that
there was no immediate prospect of at
tracing public interest 10 the market,
the professionals show themselves ex-
ceedinsly wary Of venturing TO go short
of the market. Covering of some of tire
short lines put out early in the week was
an effective factor in holding prices firm
IN todays exceedingly duh market The
mystery attaching TO Erie served to in
timidate the bears. The enormous VOL
ume Of dealings in this stock at the
higher levels was believed 10 point to
manipulation and realizing But its firm
ness since the continued rumors regard
ing 1t point to some development going
on. The apparent policy TO parcel out the
anthracite coal properties among the
great trunk line powers. as in the case
OF Reading. would point TO some plan re-
sarding Erie. There is faith in the ru-
mors. also, OF a desire on the part OF
the Wabash or Rock Island. or BOTH to
secure an Atlantic outlet by the Erie. j.
Pierpont Morgsn's testimony yesterday
in the inquiry into Louisville transfer
was seen to express a severe prejudice
against the practice OF buying up rail
roads over night. and to show par
TALLY for the extension of voting trusts
for the insurance of control But Mr.
Morgan has demonstrated in the case of
Northern Pacific that he will adopt ex-
treme measures 10 prevent the wrestling
of control from him of a property by the
overnight class of purchasers. Whether
the recent great activity in Erie repre-
sented contest against such sudden
passage OF control from the dominant
Morgan interest. or whether the process
of parcelling out the property. as in the
case of Reading, are two possible contin-
jencies that present themselves to the
conjectures of Wall street. There is every
probability OF a very strong bank state
ment tomorrow as the yield to the banks
on sub-treasury operations of s3.0S1 900
has been supplemented by currency from
the interior estimated at 100000 or
over. The strength Of st. Paul and OF
Chicago Great Western seemed TO be due
TO ruMors that the former had acquired
control Of the latter.
The bond market was generally firm.
but with some few issues slightly lower.
Total sales. par value, 81 $500
United States new tours coupon de-
clined Il per cent on the last call.
Closing quotations OF stocks were as