The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-09-05

STOCKS ARE SLUGGISH
Holidays in Prospect Make
Traders Cautious.
FEW OUTSTANDING DEALS
Atchison Led in Dealings and
in Fluctuation.

New York, Sept. 4.-Today's stock mar
ket was again excessively duh but dis
tinctly strdong. The three days which
will intervene between trading will be re-
sumed prompted the closing up Of spec
ulatiye accounts and the fact that tomor-
row is also holiday in London en-
phasized this disposition. 1t is evident
that the majority of outstanding accounts
were on the short side. There was no
the market as the bulls were as IN
willing 10 put out fresh commitments
on the eve of the long holiday as were
the bears. Atchison was the feature of
the marwet. both as 10 the volume of
dealings and width of movement, its ex-
IRENE advance of = 5-S easily distracting
all other stocks. There were some very
heavy bear accounts coveted On the ad-
vance which helped the upward move
ment and gave ground for the SUPPOSE
ton that they were the object OF the
movement. But the extent of tine move
ment gave rise to some surmises OF an
accumulation on a large scale possibly
for purposes of control. Rock Island in
terests were pointed TO by the current
rumors and they seemed to be an effort
to convey the impression that Penn
sylvania and Hartman interests were
expressing or competing with this ac-
cumulation.
The Atchison movement had some SYM
pathetic effect on the general list. but
the largest response was confined TO the
situation and southwestern corn and cot
ton carriers. The movement may have
been in part a reflection of the govern
ment report on cotton which had a con-
tinued effect also in inducing liquidation
in cotton. The corn market did not re-
fleet any excess of confidence in that
crop and the reports or Irosts in the
northwest gave rise 10 some fears that
the cold would extend into the corn belt.
But the news of the condition OF that
crop in the lower portions of the belt
conducted 10 a growth of confidence in
the safety of that portion of the crop
and so may have been an influence in the
strength of southwestern railroad stocks
The tone of the recently reported ut
terances of the secretary OF the treasury
on the general business and financial
outlook have an encouraging effect on
sentiment and his advocacy Of an en-
Urgency circulation fosters the hopes OF
the financial district for such a measure
But the emphasis Of the secretary in his
published statement on the deposits be
ing made of government money in the
agricultural districts had somewhat the
effect OF an admonition against specula-
tive uses of the funds. The forecasts OF
the currency movement Of the week indi-
cate a slight Improvement in favor of
the Interior which with the week c
losses to the subtreasury show a probable
decrease in reserve held by the banks
of So 5OO0 00 There have been some ship
nests to the south In connection with
the cotton crop, but the movement on
balance would have been In favor OF
large special movement In Boston which
seems to have amounted 10 more than
81 O10. 900 and is attributed to a New
York interest in copper affairs. The COM
plexion Of the loan item IS shorruded
in the usual doubt. The closing was
steady and very dun
me market lot ram ID" "oldS y '"ii
but in some light investments absorb
tion is reported. Government bonds have
risen in price in response 20 the need for
additional holdings by the banks 20 serve
as security for the Increased govern
ment deposits promiseI.
United States old and new IS advanced
;. per cent. the new As registered ! per
cent and the % and IS IL per cent az
compared with closing call Of last week
Closing stock quotations were as fol-
lows: