Omaha daily bee., 1902-08-23
NEW YORK STOCKS AND BONDS
Market shakes on DrOwsiness with
Liquidation in Colorado Fuel.

NEW YORK, Aug. 22.-Today's stock
market rallied from the lethargy OF the
last few days, This was caused by the
LIQUIDATION in Colorado Fuel. which It was
feared was creating a necessity to unload
stocks elsewhere in the market. The an
pe1rance OF support In that stock and its
rally to more than a point over last night
was an important factor in reassuring
sentiment and its effect was emphasized
Nashville, which was supposed to be re-
lated in a speculative way to the move
ment In Colorado Fuel.
The points of strength in the early day
were somewhat scattered and might be
attributed to special causes. In the late
dealings the strength became more general
and the market broadened out under the
Immediate influence of a 2-point rise in
Southern Pacific. The explanation Of the
beyond the fact that the speculative leader
who has made this stock a favorite of late
years Is now due to arrive from Europe.
Ontario & Western continued its advance,
with a rumor that 1t was being sought by
Canadian Pacific for a connecting link
with New York City. thus supplementing
pose to enter Chicago. which were subse-
quently denied.
The nrmness of Western Union continued
to excite remark and conjecture as to a
possible combination of telegraph interests.
When Colorado Fuel made It's recovery
there was fairly general dvances among
the Independent iron and steel companies
from which the United States Steel stocks
were conspicuous exceptions, the move
menus u 0S idltet pelnB ISStTicteu 10
narrow fractions.
The grsngers. Pacihcs and southwestern
quite generally participated in the late
movement IN Southern Pacific. The re-
action in. the wheat market may have
helped this movement.
Yesterdays furry in September corn,
while without any bearing on the coming
crop, is significant of the very small move
ment of the tag-end of last years crop,
which has been reflected In late returns OF
Gross earnings OF railroads in the corn
territory.
The freedom from furry in the money
market. with the demand for loans to carry
over until Monday, had a reassuring effect
and aroused hopes that the bank statement
tomorrow would show a strengthened con-
dition. II this proves to be the case II
transfer Of credits to the trust companies
n to foreign lenders. The interior cur
rency movement seems still to be slightly
in favor of New York.
The sub-treasury operations which had
evening 81 1856. 900, took from the banks yes
terday N,l6S,000, thus nearly wiping out the
previous balance. The net result promises
a gain in cash for the week OF less than
$500, 900. Another transfer was made to
New Orleans today Of $4,000 and New
discount, after having recovered to par
earlier In the week.
The advancing quotations for govern
ment bonds are believed to be due to the
expectation that the treasury may take
early steps for the relief OF the money
market, either by Increasing deposits witt
the banks or by redemption of bonds
Bonds were firm In sympathy with stocks
Total sales, par value, N,S70,000. United
States refunding Is. the As and the SIS ad.
vsneed X per cent on the last call.
the New York Stock exchange.