Omaha daily bee., 1899-10-22
MOVEMENTS OF STOCKS AND BONDS.
Bulls and Benrs JOstIe All Day With
out Affecting the Market.

NEW YORK, Oct. 21-The traders in
| stocks were unable to induce any noticeable
movement in prices during the two hours
of trading. The bears were inclined to at
tack the industrial specialties when it be-
| came evident that the bulls were not in an
aggressive mood. Sales for spot account
were in evidence in the speclalties some of
which dropped off a point or over. Reaiz-
ing was also manifest in Pullman and New
York Central, but the decline in prices
the bears had generally covered their con-
tracts before the bank statement appeared,
bringing prices back to about last nights
level. nominal increase in the surplus
reserves as seized upon by the bulls to rush
up the price of Sugar in an attempt to in
duce a following. They We're as unsuCce ss-
ful as the bears and realizing caused re-
actionary tendency In the whole list, which
was very narrow in its activity. The clos
changes either way. The main features of
the bank st statement we Mere q repetition Of
to encourage an expectation of easier
money, but as last weeks similar state
! ment led to no renewal of money string
ency. the stock market was inclined to the
view that this weeks showing might lead
to no worse worse, result result It is pu,zzlng TO aG-
| oped in money during the last week in face
of loan contraction reported by the banks
Of s5,S56.ooO The stock market borrowers
terror points during the coming week.
ng nsre m are Soods oi some h targe hold
|
stitutions the anticipated interest upon
which will be applied for next week and so
| be made available for the money market.
The uneasy and undecided movements of
professional stock operators have caused
confused and irregular movement of prices
during the week AS the professional! were
sill largely committed to the short side
| the closing up of accounts has resulted in
higher prices. That the short interest has
| been largely reduced as a result of tn
weeks operations and the strength OF
assumption, The bears have had their pro-
| fessional opponents to meet, who were quick
to bid up prices where they detected a de-
mand from a short interest The bears
have sought to facilitate their covering
movement by raiding individual stocks and
spreading alarmlst reports in the hope of
inducing holders to sell. The growing de-
termination of holders not 10 sell at the
| lower level which prices had reached was
the source of the uneas iness i'm the minds
OF the bears. Operations have been almcst
! entirely confined TO these professional
maneuvers and the public had been a factor
! in the market. In the bond market there
has been quite a steady absorption of long
| and of per cent denomination indicating
| a pressure for investment for capital con-
! tented with that rate of return, in spite of
| higher interest rates on money prevailing.
This development in bonds gave a firm
! undGrtone TO rhe stock market, where the
! level OF prices in many cases at present
dividend returns Is inconsistent with the
! high interest rates ruling. In the money
! market also lenders have shown some
| eagerness to get funds placed on time at
! existing RATS. This desire mas led TO con-