Omaha daily bee., 1893-11-19
Speculation in Securities for Two Hour
Yesterday Was Tame.

Speculation In Securities for Two Hours
Yesterday Was Tame.
New YORK, Nov. 1S.-The speculation on
the Stock exchange during the two hours of
business today was tame or without notable
feature. At the opening there was an adj
vance of from q to % per cent, the latter in
Louisville IL Nashville, which was strong
on a report that the directors were
negotiating for the acquisition of other
southern railway property. A slight
changed the tone of the dealings, and
brought about a reaction of a fraction in the
general list and of IL percent in Sugar,
upon which the bears made a sharp attack.
This was followed by a recovery of from Is
to "a per cent, the market continuing firm
until IL o'clock, except for Lake Shore,
which dropped IL per cent, and Sugar, which
receded q per cent additional.
In the early part of the last hour a good
purchasing movement was developed, under
the influence of which Sugar rose lSs per-
cent, Chicago Gas IL per cent, Lake Shore l
per cent and the rest of the active list from
Is to Is per cent, and the market closed
strong at or near the best figures of the day.
Compared with the final sales of yesterday
the changes are very slight, being n decline
of ~ per cent in Delaware, Lackawanua &
Western ana l per cent in Sugar preferred
and Michigan Central and an advance of IA
per cent in Louisville & Nashville and l per
cent in Northwest preferred, Some very
material changes result from the transac-
tions of the week, the great majority of the
stocks traded In having deprecated in value.
The railway and miscellaneous bond mar
ket was unusually active today and the deal
A brisk inquiry has been developed during
the week for the best classes of railway
bonds and large blocks have been taken
out of the street by investors. The issues
which recorded the most notable ad-
vances in today's market are; Michi-
gan Central As, 6 per cent; Michi-
gan Central IS of 1881, s per cent;
Lake Shore division IS, 5 per cent;
tan As c%onsols, IL. Atchison As, rs, and
Pennsylvania, AIS, 1 per cent. General Elec-
trio debenture 5s declined l, and st.
Joaeph & Grand Island Is, 2E per cent.
In view of the tightness of money the
bond market is attracting more attention
than usual and the indications are that the
coming week will see active dealings III this
class OF securities.
The Post says: The New York surplus
bank reserve, according to today's state
ment, has reached the highest figure of rec
ord. Following the May panic of 1884 the
reserve touched 1914, 724, 100, its maximum for
for the year. Today's huge increase brings
the present total up to 500 40, 475. The COM
pariSon is all the more noteworthy in
that so long a period elapsed after the acute
panic period of nine years ago before the
highest notch was reached. The shrinkage
In the bank reserve, however, which came
in the latter months of 1885, was the sign of
reviving ractivity in the commercial and
financial markets. This summers panic
was confessedly far more severe than that
Of 1884, yet there has thus far been much
less than one-fourth the period of stagna-
ton which was required before the last dec
ade's complete trade revival. 1t has been
very truly said that If the trades Of two or
three occasional operators were eliminated
from this market, fully three-fourths, even,
Of the present restricted business would dis
appear. But what may be safely concluded
from the days transaction is that the efforts
of these active spectators TO force down
prices heavily have failed. Outside in
v~estors, as last weeks market proved, are
not prepared 10 Duy, put this weeks market
has proved no less effectively that they arc
in no haste to sell.