Omaha daily bee., 1902-12-19
NEW YORK STOCKS AND BONDS.
Venezuelan Crisis Reaches Wall Street
and Holds Market Down.

NEW YORK, Dec. 1S.-Measured by to-
days advances In prices, the strained situ-
alton in Venezuela has been the cause of
much more uneaslness than was suspected
In Wall street. The depressing effect of
this influence has served to hold back the
market from the natural recovery which
was due after the action taken by the bank
ers' pool on Monday to Insure the money
market from any violent crisis. The fear
OF such a crisis has been the preponderat-
ing influence in the long decline of stocks
and the practical assurance of protection
rom II Woulu nave caused a violent re-
covery in the natural course of things.
The fear of complication with the powers
concerned I'm the Venezuelan demonstration
seems to have been the factor I'm deferring
to their offices this morning after having
read in the papers that the Venezuelan
president had practically abandoned oppo-
sition to the British and Germans, they
Were quick to jump to the conclusion that
all restrictions were removed. There was
an upward jump In prices and the market
showed a constantly broadening tendency
until past midday. The demand after that
showed some signs OF satisfaction, but in
the last half hour there was a revival In
animation and a final rush OF prices to the
top level of the day. with a strong closing.
The room traders were sceptical to the
advance throughout the early portion of
the session and kept making short sales on
the way up. Their hasty buying to cover
contributed to the final squirt i'm prices.
Sentiment regarding the money outlook has
steadily grown more confident. The moral
has been supplemented by actual favorable
Developments. The banks have been re-
lieved from much of the sub-treasury drain
which has been sapping their resources for
several weeks. Their loss to the govern
ment institution up to last night was only
$63s,OOO, while for the corresponding period
counting 100000 taken for export TO South
America. 1t is the general supposition also
that heavy sums have been received from
the interior. The deposit today for transfer
to Chicago of 100000 is something OF an
anomaly, in view OF the Soc premium on
New York exchange at Chicago.
The breaking down of the speculation in
corn at Chicago Is regarded with approval
In Wall street, as II has involved large
money requirements there and is also be-
lieved to have kept down the export move
ment OF corn by reason Of the high prices
maintained.
The loan money market showed increas-
ing activity today and the loans for six
months were shaded from 8 per cent. Even
for the shorter periods larger amounts were
offered.
Today's Bank Of England statement did
not make a strong showing and the advarce
In the Bank Of Bengal rate which was
made today Is sometimes a preliminary to
an advance in the Rank Of Eneland rate.
Sterling exchange here Cont'nu I'd heavy
and advanced al Paris, so that no immedf-
ate apprehension Is felt OF gold exports.
An increased Interior movement of grain
and heavier receipts Of cotton were en-
couraging factors.
Pool operators were recorded TO be re-
sponsible for the activity and strength Of
some OF the market leaders and there Is
Interest was covered today.
southern Pacific, Missouri Pacific and
United States Steel stocks were conspicuous
| features Of the speculation, but there was