The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1904-01-30
STOCK DEAL Dull
Wavering and Uncertain Move
ment Prevailed.
ALMOST AT STANDSTILL
Feeling That Some Sort of
Crisis Is at Hand.

New York, Jan. 2s-Prices OF stocks
had a waFering uncertain movement to-
day that hardly deserved the name of
fluctuations During the course of the
day the market came almost abruptly TO
a standstill. The undertone was neavy.
however. and the slight advances at one
time attained We're indifferently held
Probably the conviction that some sore
of crisis was near at hand in the strained
situation in the far east helped 10
paraiyze speculative activity. Even the
commodity markets reflected some dis
position to await the outcome on the
Russian answer to the Japanese pro-
posals. 1t is pointed out that OF the
s214S.0oo which the sub-treasury has con-
tributed 10 the New York banks this
week. more than three-rourths is on ac-
count of japanese gold deposited in San
Francisco This gold is generally as
sumed to represent payment for army
provisions rather than a regular ex-
change operation. The usual preliminary
estimates of the interior movement in
dicate gain by New York of over s50oe.-
900 in spite of some increase in shipments
from New YORK TO southern points dur
ing the week in connection with the cot
ton movement As the gain in the SUBJ
treasury 1t is likely wiped out by today s
credit balance of that institution at the
clearing house of s.. e42. 1l2 due to the TAX
ing up of CentraI Pacific note for about
81 500, 600 The extreme ease OF cali money
today did not indicate any notable weak
ening of the condition or the banks al
though a considerable loan expansion is
expected in tomorrow statement United
States steel continued to be a drag on the
tivity was much less today. Trade re-
views continued 10 add TO the weight
of opinion against improving prospects IN
the trade. There is even a tone of re-
probation of the attempts which have
been previously made TO claim improve
ment with the idea. apparently mistaken
that it would encourage buyers to come
into the market. The Union Pacific
favorable net earnings for December Of
fered contrast pleasing to investors
with the uniform tendency toward de-
crease for that month and which was ex-
emplified in the returns for the Wabash,
Lehigh Valley and Canadian Pacific
made today The average decrease al
ready runs as high as IL per cent The
Union Pacific showing is attributed TO a
drastic reduction in the extraordinary ex-
penditures for improvements which have
long been in progress on that and It's
allied systems the Southern Pacific. II Is
recalled also that the Union Pacific in
terests are credited with the most deter
mined resistance to the present price for
steel rails even to tie point of refraining
from filling urgent requirements. The
stock got as much as a point over last
night. but fell back with the late re-
action in the market. The closing was
dull and easy with prices back to about
the low level. Pennsylvania ran off
nearly point at the last.
bonds We're dun and Were inclined 10
react. but a few advances gave an irreg-
ular tone. Total sales, par value, s310S,
90. United States were unchanged on
call.
Quotations were as follows: