Omaha daily bee., 1902-10-14

NEW YORK STOCKS AND BONDS.
Prices Break In Morning, but Later
Completely

NEW YORK. Oct. l3.-A violent and al
most uncontested break in prices of stocks
recovery this afternoon is the history of
today's market. Liverpool closing prices
some of the most important stock on the
list, reaching a point In Reading and On
noon there were ragged declines indicated
Of all the way from l to u points from
Saturdays level, many of the leading spec
ulative stocks having lost 3 to 4 points in
the two hours of trading. Sentiment in
the street seemed mixed before the opening
between the contending influences of the
reports that a settlement of the coal strike
had been reached, and that the Informal
ton CONTAINED in the saturday bank state
ton of loans placed in the stock market.
The latter swept away all other .consid-
mentary rally after the rally after the
opening, due to the taking of bear profits
by saturdays short sellers, the market
pursued a steady downward course under
a continuous stream of liquidation. 1t was
evident that further selling. out on the part
of some of the large speculative pools was
going on, presumably under pressure of
the demand from money lenders for repay
and some of the stocks in which the So
called western contingent have. operated
largely were notably affected. The recent
tendency of high priced investment stocks,
which had been pushed to an extraordinary
level. to break violently on small sales con
can Express, United States Express. Lack
awanna Delaware a. Hudson, Great North
ern preferred, General EleCtrlc ana similar
stocks. When the liquidation first showed
signs of decreasing the bears caused a
sharp rally by covering of shorts after
which the market lay sluggish and neg
lected for an hour. The speculative senti-
ment then yielded to the Influence OF the
hopeful feeling that the consultings and ac-
tivities of the financial and operating pow
ers OF the great anthracite companies would
lead to substantial results in the settlement
of the coal strike. Any admission of a
change in the deadlock was impossible ia
obtain and the ~unvarying assertion import
ant operators dealt effectively with the pos
sibtlity of improving the output, of the
mines under protection of the military by
seceders from the strikers. But the action
of the market reflected the faith that de-
velopments were forthcoming looking to a
settlement. Reports received over Sunday
of the receipt OF the several parcels or gold
from Europe and OF an expected arriva
within two =eeks ct San Francisco of 81.
100000 additional Australian gold, were
powerless to Offset the depressing influences
of the bank statement. Money went to II
per cent soon after the opening. Sterling
exchange broke sharply, but discounts II
London moved sharply with an advance
The coming weeks syndicate requirements
which foot up some $50,000,000 were con
sidered formidable in view of the money
situation. This included another 81, 900,
900 payment on the purchase of control o.
count of new Baltimore & Ohio stocks anC
81, 100000 on account of Pennsylvania 81
per cent convertible warrants.
The market closed with the rally in full
force and prices at the top lever.
Bonds weakened and recovered in sym
81, 645,0O0. United States new and old As de
clined y per cent each on the last call.
The following are the closing prices OF
the New York Stock exchange: