Omaha daily bee., 1901-01-03
MOVEMENTS OF STOCKS AND bonds.
bears Finally Make Delayed On
stauxht, but without Success.

NEW YORK Jan 2-Today's stock mar
ket opened with an upward rush of prices
and closed with something very like a
slump and with the list in a very ragged
condition In the matter of net changes. The
professional ear traders, who had watched
| the market for days to detect the expected
| turning point toward reaction, fell upon
the the market today with vgor and en-
| tors have made many mistakes in the last
| few weeks. and opinion is greatly divided
| in Wall street tonight as to whether their
| time has come. Certainly the market today
| showed an astonishingly large demand for
stocks and In the early dealings the supply
was sufficiently limited to cause a volatile
upward squirt of prices In a number of
stocks The general level of the market
| turn and II considerable volume of the sell
Ing was undoubtedly due to proht-taking.
garded from the standpoint of buyers of
stock on Monday, but the relapse from the
high prices today, at which there was "A
considerable volume of purchases. makes
disappointing results for those who got in
at the high level
connection with the positive clements of
weakness which developed. The violent
had more effect than similar breaks have
had In the immediate past. This stock
was pushed up IA this morning on the pub
lished reports that the proposed advance in
the price Of package coffee was the fore
runner OF the settlement of the sugar trade
stass, Which has been puzzle to WAL
assurance for holders of sugar certificates
received a rude shock from the announce
ment which quickly followed of n cut In the
price of granulated sugar by the American
company, which was followed by the other
companies. bringing the prices by all to the
same basis. AS the American company has
been holding its price above that of other
companies, the bringing, Of prices to the
same basis is alleged to be equivalent to a
settlement But this did not avail to save
Sugar from a drop Of "a points to liO, with
the close only slightly better.
10 lin tYtil g,,ffar
from the remarks Of the new governor of
New York on the subject of taxation of
corporations and franchises. and the Rub
early rise
Coming on to the general movement to
realize the market was decidedly oppres-
sive and stocks were carried down very
generally between and points. The most
important stocks I'm the early rise were
however. comparatively firm. and hand.
some net gains were conserved for st. Paul
Pennsylvania, Baltimore q Ohio. Union Pa
citc the Eries and Readings. These stocks
were the mainstays of the market all day
and We're absorbed on an enormous scale,
tivity of powerful speculative forces.
AS to the recipients OF the annual dis
bursement Of dividends and interest they
on call constantly at per cent. or under all
truth OF the boom. It would be fatuous TO
suppose that these favored persons would
have remained inactive all through the
period that speculators were buying stocks
and advancing prices for the special pur-
A feature OF the day was the strength of
sterling exchange and this is believed to be
In anticipation of lower money rates here
and higher rates abroad, Notwithstanding
that foreign money rates relaxed appre-
ciably today with the January disburse-
ments.
Today's clearing house report showed that
Mondays $ c!earings of the New York banks
In the association were the largest on rec
ord, footing up i27,903, 262. The previous
1864, ,013, 300. -
Business in bonds was very large aud
widely distributed and prices were gem
orally higher. Total sales, par value. S3 4S5-
900. United States IS declined y per cent
on the last call "
The following are the closing prices on
the New York Stock exchange: