Omaha daily bee., 1902-03-13
NEW YORK STOCKS AND BONDS
Upward Range of Prices Results in
Some show of Animation.

NEW YORK, March 12.-There was some
show of animation in today's stock mar
ket on an upward range OF prices Inc
ket, but there were more of the usually
prominent stocks concerned in the move
ment than has been the rule recently.
The most conspicuous of these 4 was
A~malgamated Copper, in which there was
e fsI@,nc,o6 Of lli SITHs S6lcS only tSs oe ssI Tgreiv ini
a momentary check. The extreme decline
reached 40 points. The selling of the
next dividend will be reduced or passed.
No authoritative information was to be
had on the subject, nor on the many re-
ports that the marketing of the company's
surplus stock had involved heavy losses.
The weakness of this stock gave an occa-
points, but did not materially affect the
stronger tendency of the market. Cover
ing by alarmed shorts seemed to play a
part In the advance, especially In the coal
ers, which have been freely sold on ru-
mors that the Anthracite miners were de-
be granted. Today equally assured predic-
lions were heard that there would be no
labor troubles in the coal trade and that
there was no room for dissatisfaction.
There was no authoritative Information on
this subject, either.
Another case where speculative interest
was reversed from that of yesterday was
on the outlook for the winter wheat crop,
on reports of copious rains in Texas and
the southwest. Buying to cover short con-
tracts was particularly effective in Mis-
souri, Pacific, which had the advantage of
"a I6DOTIGQ increase III kTOSS 6dEnlnk lOT
the first week of March.
The calmness Of the money market was
the final factor of a general character on
is firm and nobody is found to predict an
early relaxation of rates, but feeling was
treasured today that there is no immedi-
ate danger of forcing a condition of string
ency. II 10 supposed that the trust COM
panies are putting out loans at the highest
rates and thus relieving some of the pres
sure upon the banks.
This shifting of loans from the banks to
the trust companies does not affect any
real strengthening Of the money situation,
as the cash reserves of the trust companies
are on deposit with. the banks, and the
unchanged, but the legal limitation upon
the banks to keep up the cash reserves to
duction of their loan and deposit account
desirable for its shifting of deposit liabili-
ties upon the trust companies which are
not compelled to maintain any fixed re-
serve. The foreign exchange market indi-
Gates also that loans are still being. re-
Special strength was shown today by Gen
eral Electric, Westinghouse Electric,
Northern Pacific. the Virginia Chemical
and Peoria & Eastern. There were gains
of a point or over for a large number of
stocks which were modified by a late re-
The bond market continues rather irreg-
ular and more active. Total sales, par
unchanged on the last call.
The Commercial Advertisers London
a Resn %as satrs5eig a saiEs: The stock Stock % oHdl
the capture of General Methuen is al
ready forgotten. bat the markets
In the meantime the tone is firm
American shares were featureless until
Southern Pacific and Erie. In the street
stocks were easier, with a dull finish save
Canadian Pacific, which was firm on New
York orders. Rio tintos closed at 46as after
touching 46%, and Copper advanced Is tc
R4h the ton. Gold to the amount OF
$4,000 has gone out to South Africa.
The following are the closing prices or
the New York Stock exchange: