Omaha daily bee., 1901-02-01
Spectators Continue Their Mnnipu-
Iation of the stocks

NEW YORK. Jan. 31.--The stock market
continued Largely given over to manipula-
by professio ionals. There was constant
shifting of ACTIVITY from one group Of
developed hero and there all day. Prices
Of the favorite issues were inclined 10 drop
back as soon as the manipua tion was
shifted from them but the final outburst
OF activity and strength in the Pacihcs and
Sou thwesterns lifted the stocks to near the
best again. The stock under immediate
manipulation at the close were. however,
about the only ones that closed at the
highest
The. central figure in the days market
was Southern Pacific. The pool which has
been absorbing this stock for some time
past apparently Is clearing the field Of n
part OF the waiting orders to sell which
hung over the stock and accomplished Il
tardv advance i'm the prices The dealings
In the stock were on an enormous scale and
the extreme advance was pa The fact that
this advance carried the stock across AtCh-
ison seemed to arouse the speculation Of
the friends Of that stock and they pushed
II vigorously upward an extreme 2ia
through very heavy offerings. The PacifiCs
generally sympathized. The announcement
Of the plan for the ABSORPTION Of Mobile &
Ohio by the Southern Railway comrany
caused q Jump IN the former stock of S7s on
comparatively light transactions. as the
companvs Capital issue Is a small one The
Mobile & Ohio devclopment set the specI-
lators upon a search for securities on minor
railroad companies which would be in any
way available as feeders or connections FOR
the great railroad systems of the country
in the operation Of the policv for extension
OF interests. The roads having Morgan
affiliations were prominent IN this Connec-
tion. Chicago. indianapolis & Louisville
rose 6 and the preferred 10 roints. There
were gains Of from to nOints in the Chi
cago Great Westerns. g. G. G. & St Louis
stocks. the Iowa Centrals, Des Moines &
Fort Dodge. st. joseph & Grand Island first
preferred and the Wisconsin Centrals None
OF those gains were fully maintained.
Yesterdays strength in the steel stocks
maintained during the day. There was
more or less realizing In evidence among
stocks which have had their previous rise
this week and the market continued irreg-
ular all day
Today's sub-treasury statement reflects
tho payments for the god withdrawn for
today's shinments and makes the net loss
by the banks to the government institution
mert OF currency from the interior is re-
ported lighter than last week so that no
such favorable bank statement az that of
last week Is exnected. The money market,
however, continues so extremely easy that
not much attention is paid to the bank
statement Sterling exchange hovcred near
the point today which would yield a profit
on a shipment of gold to London. Demand
sterling was sold at IS; II II rises above that
tomorrow 1t is the general opinion that
gold will go to London on Saturday. The
statement of the bank of England today
shows that that institution has continued
to borrow from the market, even while
meeting demands from the market for
loans. Its failure to reduce the discount
rate, therefore, indicates purpose to draw
god from New York to London II possible:
Business in railroad bonds continued
large, the Central Of Georgia and southern
Pacific Issues being prominent. Total sales,
par value, S,225,0OO. United states IS, cou-
pom, and new Is advanced "a per cent on
the last call.
The following are the closing prices on
| the New York Stock exchange: