Omaha daily bee., 1902-08-28
Initial arket Strong, hut General
weakness Follows.

NEW YORK, Aug. 27.-Today's early
strong market was a repetition Of yester-
lay. but on a smaller scale. The re-
dency, caused by the heavy realizing in
progress under CONVEX of the sustaining
strength Of a few stocks, but 1t was not
Of the dividend on Reading first preferred
that the of the whole market
became active and prices broke ali around
to we'll below last night.
There has been an impression for many
weeks that the Reading dividend would be
reduced 1r IN order to extend the voting
would be dissolved by the payment of one
years full dividend on the first preferred
the Souther railway voting trust has
been requested by stockholders to defer
the dissolution Of the trust by the post
ponement of the dividend on the preferred
OF Reading.
fact OF the reduction OF the dividend would
have shocked the stock market. had II
not been for the determined way In which
the reading stocks were advanced this
morning on the purchase of enormous
blocks OF stock.
The sudde tumble in those stocks caused
duction gave rise to a chilling apprehen-
sion that the bold spectators who are
leading the operations for advancing prices
are acting without the best information
In all cases and may be putting up all
prices simply by the force of abundant
funds and without substantial grounds for
the higher range Of values.
Inc dimensions vi the selling 10 take
profits which was going on yesterday and
TO-DAY was an aadit tSG faetor IN arousin
mand which has made the higher of
prices. The favorites of yesterday and
realizing even while the Readings, Illinois
Central and Colorado Fuel were advancing
most ~buoyantly.
the west was a contributing factor to un-
settling confidence. The deposits of cur
rency at the subtreasury today for trans
was for Chicago 100000 for SincinnSti
counting this movement the subtreasury
has taken from the banks UP to yesterday
$. 652.OO which just figure in Saturdays
bank statement and the subtreasury to-
day had a small credit balance at the clear
The treasury statement from washing
ton today showed a surplus in revenue
for the day Of S.2ss,427, thus bringing the
year to below 100000. Doubts are felt
In Wall street as to the extent of tbs
WHICH the iV secretsry Of n the "tt reasury vii
be willing to take. Another disturbing In
nuence was the report of a decrease In
ss45,5 iI, Which was the more effective or
account Of yesterdays heavy speculation
in the stock.
bureaus weekly crop bulletin especially
duence. All unfavorable influences were
disregarded in the early attempts to put
up Reading stocks on the ground that thu
end OF the coal strike was near. TIL
movement In Illinois Central was unex'
planned, that In Colorado Fuel seemed e
be due to limitations that the parties tC
the dispute for control were in a con
ciliatory attitude, which was followed aftel
the close by the giving out of q statement
showing a renewed phase of the contest.
United States Express. General Electric
n s~loss-5hefield Steel made conspicuoua
advances. The market closed irregular anC
slightly above the lowest.
Speculative bond issues yielded in sym
patty with stocks. Total gales. par value
E.645, 200. United States bonds were all un
changed on the last call
The following are the closing prices OF
the New York Stock exchange: