The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-09-02
STOCKS AND BONDS.

New York. Sept. Yesterdays in
crease in the volume of business was cut
in two today the aggregate sales falling
to below quarter of a million shares.
The most of this again was done in the
first two hours Of trading. Prices of a
number of the principal market leaders
ran off in that time a point or more.
There was no important recovery after
that but the market fell into profound
dizziness and neglect and prices remain
ed almost motionless. The closing was
lifeless and heavy. There was nothing
in the news of the day bearing on the
reversal in the direction of the prices
OF stocks. II was accented simply as
demonstration of the futility of the ef-
forts OF professional traders TO move
prices upward 10 any large extent \
part of those efforts had consisted in
conveying the impression that the large
financial interests were in sympathy
with the movement. There were cper-
atoms in today's market which were un-
derstood as intended to show that the
large banking and railroad interests felt
no approval of these professional efforts
to advance stocks. Brokers who have
bears were attempting TO force declines
during the past week and who were sup
posed to act for great financial leaders.
sold openly today Indifferent stocks
around the room. This led TO the pre-
sumption that II was intended to dis
courtage erforgs to lift the prices. An
attempt 70 stimulate speculation on ac-
count OF the eme2ency relief held in
readiness by the secretary of the treas
ury is felt TO be unwise and there is a
feeling OF disapproval of any course
which would tend TO create an emergency
In the money market on account of the
provision of an available fund in the
treasury ready for deposit in the banks
is. however undisturbed. The time
money market has become almost wholly
nominal owing TO the light demand. but
lenders are not disposed to urge their
funds upon borrowers. Interior exchanges
are beginning 10 move again New York
discount at Chicago falling to 10 cents
today compared with 20 cents per thou
sand yesterday. Interior banks which
have been recipients of internal revenue
payments. i'm covering these receipts
into the treasury are doing so through
the New York sub-treasury by orders on
their New York correspondents. This is
an indirect manner of currency shipment
70 the interior Yesterdays views of
the transfer of the underwriting svndi-
Gates holding in Metropolitan securities
to other inside interests was decidedly
modified today. The rise in the local
fractions yesterday helped the advance
elsewhere and today's sharp reaction in
those stocks was of corresponding sym
pathetic effect Will street was inclined
today to regard the operation rather as
a withdrawal of important interests from
the eopany than as a measure looking
to further consolidation of interests as
was the case Yesterday. The weather
bureaus weekly report was not cOnsid-
cred reasGring either as TO cotton or
corn and the wheat market also reflected
bullish sentiment. The very favorable
July statement of the Reading system
was made the occasion for profit taking
in the same way that ither recent good
showings have been. The continued real
izing in Amalgamated Copper also have
considerable sympathetic effect. There
was a further advance in sterling ex-
change on demand for remittance by to-
morrow's steamer, but that market re-
acted slightly when this demand was
satisfied The bond market was dull and
irregular. Total sales. par value. sl.2o5.-
co United States IS. new As and IS ad-
vanced one-quarter per cent on the last
call