Omaha daily bee., 1902-11-25
NEW YORK STOCKS AND BONDS
Increased Strength In Foreign Ex-
change Makes Market IRREGULAR.


change Makes Market Irregular.
NEW YORK, Nov. achievements Of
leading stocks in todays market we're ir
regular for the part, this condition being
due In a great measure to the Increase OF
sterling was quoted at $s7K, the advance
resulting largely from further selling OF
stocks here for London. together with heavy
purchases of exchange by prominent in
ternational banking houses. While the high
rate puts this center nearer the gold export
point, II is still the opinion of experts that
pressure will be brought to bear to pre-
vent an outflow of gold even should ex-
change reach the level where transactions
Nevertheless II is doubted that exports can
be delayed much longer II London con-
tinues a heavy seller Of securities here, In
asmuch as the local market also has to
provide for important payments maturing
this month. Time money was comparatively
easy, most loans for ninety days or longer
being made at 5h per cent 1t is known
that considerable outside money not held
by local banks has been loaned at this
figure in the last few days. Receiving no
announcement from London, where the
market for Americans was dull and spirit
less, opening prices were generally lower,
soon shown. Trading in such stocks as
Reading, Manhattan. Metropolitan, st. Paul,
Sugar and Colorado Fuel and other active
issues was at lower level, but some of
these stocks, notably st. Paul and Read
ing, soon recovered. Rock Island Issues
made early gains of and 21s per cent for
lively, on heavy transactions The strength
of these stocks brought sharp recovery,
but the list soon developed another reac-
tionary tendency, pressure being soon
shown against st. Paul, Missouri Pacific,
Southern Pacific, Reading and New York
Central. all declining point or more. with
greater losses in Canadian Pacific and
Hooking Valley. Louisville & Nashville
was decidedly erratic. starting with a one
point decline, rallying IL and then declin-
Ing almost as much. The strength of the
Rock. Island was meanwhile, well sus-
s t6s of In tSe n
dustrials, Colorado Fuel displaying further
heaviness on reports of a renewal of the
actions recovered, with a net gain of 8
points on moderate transactions. In the
special class Pressed Steel Car was higher
while a single sale of New York Air Brake
was recorded at a decline of 81 points
Trading continued dull and largely profess
sional until the afternoon when a new
stock to 1857, which II declined points
closing with a net gain of points on very
haitian buying was by Gould brokers' The
movement in Manhattan stimulated buying
in New York Central and Pennsylvania but
Metropolitan and Brooklyn Transit were
little affected either way. The bear fac
ton traded cautiously, but took courage
from the absence Of any news regarding
the so-called Manhattan deal" and made
successful attack on that and other
stocks. New York Central and st. Paul
were forced down. while attempts to move
Amalgamated Copper met with Boston SELL
ing. Short covering in the final dealings
was hardly of sufficient volume TO prevent
shares, a tctal Of about 115.0O0. in the last
four days, and bought nothing. The lack
of London buying was attributed partly to
the approaching fortnightly settlement
there.
Bonds were irregular and rather dull.
Early losses were largely recovered when
the stock market developed strength. Total
sales, par value, $2.0O0000. United States
rs and the 5s declined u per cent on the
last call.
The following are the closing prices on
the New York Stock exchanges: