The Wichita daily eagle., 1903-03-19
STOCKS AND BONDS.

New York. March 1S-Stocks showed
hardness today and hopes were INDUCED
for rise on the part Of a considerable
speculative party which s watching the
market closely FOR recovery when the
interior begins TO send back funds 10
New York and money becomes easier.
The few scattering indications OF re-
taxation OF the money market did not
appear sufficient To induce buying much
beyond the ranks Of the professional
shorts. who have become uneasy over the
cessation Of the liquidation in stocEs and
show anxiety TO cover their shortage
The cessation of the recent persistent
selling Of New York Central and Penn
sylvania had 4 particular influence in
negative way The advocates Of higher
prices stand in dread Of obstacles to be
encountered in the way Of selling orcers
on the part OF the persons who In mar
ket ventures and who may desire To real
ize on securities with an active market
10 protect themselves in possible money
sqeeze later in the year II has been
thought that the recent selling Of Penn
sylvania was Tor the purpose Of making
good losses in "a project that Las come
TO grief. The recovery IN those two
standard railroad stocks is therefore OF
great sentimental influence on the nlar-
ket Money conditions are unde niahlF
less stringent The doubt is how Ear
this is due 10 the liquidation Of stocks
and the lessened demand for money in
the stock market. and also 10 the trans
fer Of obligations To foreign creditors
whose demands FOR reimburse ment must
be met in the future.
The advancing course Of foreign eN-
change is significant evidence Of the
present end OF the borrowing from for
eigners
The sub-tre7sury yesterday made an
other small contribution 20 the local
money supply Interior banks for some
time past have arranged as far - pos
sible for al Obligations 10 the govern
ment 10 b. paid 20 the New York sun-
treasury bv draft on their New York cor
resDcndent banks. Lessened requireHc1 ~
of the government institution may be ac-
cepted in part as more compliant atti-
tude on the part Of the interior money
centers toward New York
OF todays special movements. that ~
the cOalers was due "a gossip that ih-
report OF the anthracite strike comnlis-
SION. presented 70 The president today
would prove o. be favorable 10 the COM
t.',,ls 80 also csmS<-reeIy from Washing
tor, and dealt Wi-h tire Cuban reciproc-
sew treaty. Buyers u Tennessee Coal
.rofess-d TO have Information % very
ls-Ee current earnings. Corn proN3ct9
were bought on the ueclaFaitpH oi tA-
e-z+ dividend Southern Pacific FUR
nishe4 the Only sensational feature II
tbe dsv. There was heavy buying of
Tho stock iu the last half hour. "hica
...~riad the price Up poiuts. the rft
gain being only a fraction under the top
fsIre The stock loaned az premium
~ = ard there We're ruinors oi impor-
tant Developments in connection WIN nc
controversy between the pool ana tnioh
Tecfd~ interests shares y the latter
e7-1narv were moderately active at
ono point gain other strong sioeAs -
cIased = Paul. Rea--rg NYiin =
sr5 Tennessee Coal Prohibiting tpV iFH
,be eaa caused @ shading q prices ana
the clos. was irTe guar
H. .re special classes 'hare vas an
s---,i-t decline in American EEpress
The bord market shoTsd s'ea1i1e
THROUGHOUT the day. but snaIfe oll
srigbt extert iu the strength oi 't'
s..-t- rrarkat Total sales par Fa'-t
q - s-.l T-rited States boncs were ai
,-.-s.--el on the last Gail
.-,oet.r STOCK quotations were az
follows.