Omaha daily bee., 1901-03-01
MOVEMENTS ~ STOCKS AND BONDS
nmences mud lInsc L. lnaI

NEW YORK, Feb 2S-After an unsvail-
ing effort to check the yielding tendency of
prices the market gave up to the threaten
| ing depression and the closing was de-
Cidedly weak at the lowest, with something
very like a spilling of stocks going on all
through the list. The steel stocks were
most acutely affected and were weak
| throughout. one or two I'm the groun ad-
Vanced slight fractions at one time under
the process of arbitrage operations which
| involved purchases to cover sales in other
stocks, but the prevailing disposition was
clearly to sell. Dealings continued on the
curb on the contracts to deliver United
states steel corporation stocks when tssie ed
though not on as large u scale as Nester-
day. These stocks. which were regarded as
the index OF the value of all the members
OF the group, showed an increasingly heavy
tone. Bids of 81 for the common and S2i5
for the preferred were put I'm at the opening
by brokers' acting on behalf of the banking
interests concerned In the organization Of
the new company. There was some firm
ness IN the common stock during the day,
nut IN the closing dealings the bid for the
common stock was reduced to &c and tor
the preferred stock to 80 Tho good condl-
tions reported I'm the iron and steel trade
by the Iron Age in it's issue today was dis
Irregarded In the trading in the steel stocks
lower than last night, American Hoop,
steer and Wire. Tinplate and Steel and
Wire preferred from TO 2ls and the others
OF the group from fraction to nearly .
points. The stocks not included in the con-
solidation were also weak, Tennessee Coal
declining nearly points. Published re-
ports from Pittsburg of dissatisfaction on
the part of the National Tube stockholders
We're an influence on the depression. The
after short-lived opening bulge, also
served to discourage the speculation. Eff
torts were made TO substitute other stocks
ior the purpose of sustaining the market.
but they were Intellectual They were most
conspicuously In the Smelling stocks rhich
rose 5Ss FOR the common and 2as for the pre-
ferred, Anaconda with rise of 2h and
Amalgamated Copper with an advance of 3
points. The American Linseed stocks the
he nd Int
tional Power were up from 11h to 3 points
st. Louis & San Francisco rose 3 and the
second preferred ~. These movements
were without explanation, except that II
benefit from the approaching adjournment
of the Montana legislature. This seemed a
more potent influence than the reported
heavy decline In copper exports The
movement here as in the steel stocks was
without regard to the trade news. A batch
OF strong railroad statements. especially
sustaining that department of the stock
market. Prices In a number of the most
prominent stocks are point or more lower
easy, Notwithstanding the large absorption
by the subtreasury and the demands for
the month-end settlements. 1t is not un-
likely, however that the money ma arket
possibilities are an element in the caution
manifested A sharp rise in sterling ex-
change In response to the harder money
market in London served to emphasize this
caution. Probably the yue explanation OF
the heaviness of the marKet is the inanima-
ton Of the trading, with many of the
away on vacation after the prolonged
period of unpr precedented activity and ex-
element In the stock market.
Bonds were relatively better sustained by
stocks. Total sales, par value. So 025, 600
United States refunding 2s registered, ad-
vanced H. and the 5s 4 per cent on the last
call.
The following are the closing prices on
the New York Stock exchange: