Omaha daily bee., 1902-04-10
NEW YORK STOCKS AND BONDS.
Louisville and Nashville Has Second
Day of Supremacy in stocks.

NEW YORK, April 9.-There was a nota-
BILE speculative movement in this stock
market today, which is universally at
tributed to the actions of a combination of
wealthy western men, who were important
factors In the constituent companies going
to make up the United States Steel corpo-
ration before It was organized. In ordinary
acceptance of the term, there was no news
TO explain the movement of STOCKS or the
enormous buying which caused IT, but the
fact was patent that the buyers were pos
sessed of practically unlimited resources to
transact business on such a scale and also
that the faith in them was strong that
they were getting their moneys worth.
While there was no actual news accom-
panying the movement. there was abund-
ance of rumor, which conferred mostly
about Louisville & Nashville, which was
activity and sustained strength The rH-
mors reached the stage of an alleged
formation of a community of interest pro-
would supposedly take in the Southern rail-
way, the illinois Central and possibly minor
There were minor explanations growing
out OF the announced policy on the part Of
the Louisville to extend into new territory,
which involved the absorption of connecting
lines into Chicago. None of these rumors
could obtain any official countenance.
There was some credence for a suggestion
that the marketing of the new stock just
announced had involved the coalition of a
large short interest in the market, for the
relief of which new stock will not be avail
able as a delivery until the 1ormalities of
listing on the Stock exchange have been
| COHlDlIeu WILL. IFS explanation WOulu nOl
apply to the notable broadening of the
speculative. movement today into other
quarters of the market. Louisville itself,
while occasionally r~eactionary, forged up
to the top level to 5 points over last night
in the final dealings, and closed within a
shade of that.
The Southern railway stocks were also
lifted forcibly. TO the top level at the last.
The rest of the market showed the effect
of realizing at the last and some important
stocks with net losses. notably New York
Central. Manhattan and Chicago North
western and Rock Island. Some of the
minor railroad stocks which have recently
large number of important stocks were in
cluded in the advance. the movement was
by no means universal. and many, promi-
nent stocks were neglected and sluggish.
United States Steel stocks were still con-
There was also the usual assortment of
violent movements in high-priced indus
trials, which are closely held by concen-
trated interests. The electrical stocks and
New York Air Brake made wild advances
The rise of 61R In New York & New Haven
was unexplained. American Snuf's 7-point
gain was practically all OF Il made on one
sale. The strength of Duluth, South Shore
& Atlantic and in Keokuk & Des Moines
had no news to explain II.
was a reminder of the narrow resources of
the present money market for supplying
any extensive speculative movement, but II
did not affect the determined buying of the
easier tone of exchange was attributed to
renewed borrowing from fore. gners, induced
by the present profitable level of interest
rates here. A show of strength In the grain
markets was equally without effect in dis
couraging the buying of stocks.
Some of the active speculative bonds were
affected by realizing and the market gen
yaiue. sSs,SSss5yOoo United States 5s. advanced
The following are the closing prices or
the New York Stock exchanges;