Omaha daily bee., 1900-02-04
MOVEMENTS OF STOCKS AND BONDS.
TO Realize After E~xception-
ally Favorable Bank Statement.

NEW YORK, Feb. 3.-Speculation i'm TO-
days short session of the stock market was
swayed by long ventures, encouraged bv
the statement of the ST. Pau railroad for
the fourth week of January and a DISPOSE
tion to take profits. A level of prices had
been early established which Indicated a
handsome rise on securities purchased earl
Ter in the week. The tendency to realize
was manifest after the publication of an
exceptionally favorable bank statement.
Although the downward movement as
sumed some force near the end, owing TO
a violent break of 3s per cent in Sugar, the
earlier advances gained by the St. Paul,
showing and that of minor roads were not
entirely cancelled. Interest was revived 40
a marked extent in a number of the iron ana
steel issues, National Steel moving IN .
points and r%eceding fractionally. Tennessee
Coal fell into comparative dizziness and, al
though 1T covered a range of 3 points, ter
minated unchanged. Some comment was
excited by a rise of 3 points In General
Electric, which was generally attributed TO
| reports OF encouraging earnings. Sugars
plunge downward was ascrihed to gossip
concerning the trade war. Third Avenue
occupied a less conspicuous position in the
market than Of late and moved in some
what narrow limits. A tendency to cover
In some directions, coupled with free sell
ing in spots, caused a very irregular close
unusually heavy for a short day and the
number OF stocks dealt in almost equalled
that of yesterday.
that rested on the stock market activity
the last few weeks, 1t was quite effectually
lltteu curing the present week. DEALINGS
have averaged nearly 10000 shares of stocks
a day and on one day ran up to $780, 900
shares. The earlier repressive Influences
were not the military situation In South
Africa, for the symptoms OF Indifference TO
that, which were Indicated last week, were
emphasized on Monday, when the London
stock market was in a semi-oanic and the
local market, though still duh near TO stag
nation. was distinctly strong.
As Tor the money market outlook the
conditions have been no easier than during
the recent period OF neglect and the course
operations with the subtreasury have given
limitations Of a renewed drain on the New
York money supply. But whatever the
cause of the previous dizziness, the most IN
|tluential factor in arCusing the market from
It's lethargy was unquestionably the act.ul
at the annual meeting OF the American steel
and Wire company. The setting aside OF Il
fun years dividends on the common stock
at the rate OF Z per cent, 10 be paid quar-
teTly, was not more than had been fore
had been disseminated in vain attempts 20
awaken speculative interest I'm the stock.
But the publication of a balance sheet, Certi-
fed 10 by chartered accountants. was an
answer 10 much ske9ticism that has as
sailed this company and from the same
causes the whole group Of Industrial stocks.
Mystery has been the main Characteristic
OF the Industrial corporations. The amount
and nature of assets, Of obligations, Of earn
ings. OF eXpenses-all these were sealed from
the knowledge of the public ana Of the aver
age operator in the securities.
The statement published by the Steel and
Wire company did not answer all the ques-
lions which investors would want to know,
suspicious which have hung around the iron
and steel stocks, The resulting rebound
was corresrondinEly resilient, owing to the
extreme depression from which they have