Omaha daily bee., 1902-09-05
NEW YORK STOCKS AND BONDS
stock Market Develops Irregular Tone
from Various Causes.

stock Market Develops Irregular Tone
from Various Causes.
NEW YORK. Sept. 4-Partly as a result
OF the furry In call money, which loaned
for as high as 8 per cent, and for other
potent reasons, the stock market today de-
veloped a distinctly irregular tone. Before
the close of the morning session more or
less weakness was shown In a number Of
sylvania. New York Central. Union Pacific
and Southern Railway. These and other
less prominent stocks fell to a level gem
orally lower than yesterdays closing prices.
Much of the selling was of a character
technically known as. good" and in con-
sentative quarters the opinion prevailed
that the pace of the early week had been
too fast.
The trading after noon was again heavy,
but the day as q whole was less active ami
more circumscribed in distribution of bust
ness. In the face of these adverse condi-
lions new high records were made in Balti-
more and Pennsylvania, Wabash common
and preferred, Wheeling & Lake Erie. Pa
clhc Coast, National Railroad of Mexico,
P%ittsburg, Cleveland, Cincinnati & st.
ferred.
strength and activity Of United States
Steel, common. Purchases of the stock
were on a large scale and resulted in a
ment was not maintained. The move in
Steel, common, was presumably based on
its strength in London. from which center
1 SO8a u AA6 was A1BOA AC0 AOA EAhAtA al
interests. Locally, London traded in about
10000 shares. chiefly Steel, common, but
sold on balance.
The early decline In Pennsylvania was
followed by a reactionary movement In the
stocks OF most of the southwestern roads,
There was no news influencing Reading and
the common stock on dealings much below
those of the previous two days closed with
a decline of ~ points. Opinions differ as
the knowing ones declare that its future
rests with Pennsylvania interests, who, II
is expected. will turn Il over to the Balti-
road, particularly the common, were active
and strong, at the outset, but closed with
a net loss. A smart advance in Wabash
was attributed to manipulation by a leading
operator.
The early afternoon saw sharp gains ir
Peoples Gas. Manhattan, Virginia-Carolin
Chemical. Cotton OIL and some of the more
obscure Issues. The advance in Gas was
accepted as a drive against the short in.
Selling orders in the last hour caused
recessions throughout the general list. and
the closing, while active. was weak. Il
the standard railway group marked weak
ness was shown by Norfolk & Western
Louisville g. Nashville, Illinois Central and
Union Pacific in addition to those already
named. OF the miscellaneous stocks Tho
weakest was American Bicycle preferred
which declined s points. On the curb North
strength of the early week. opening at 117h
but reacting toward the close.
Can money opened at 81, per cent, anC
placed at the top figure. but loans wen
from 6 to z per cent. There was little dis
position to loan money on time, in view o.
the demand loan rates. Foreign exchang,
continued easy. with no sign Of an earl!
reversal. The sum Of $4,000 was trans
ferred to New Orleans for local banks, anC
this. with other operations. shows a gall
by the sub-treasury of over $3,O0,OoO sine
last Friday.
Railroad bonds continued very active an,
irregular. Total sales. par value. &.935, 900
United States old and new Is, registered
advanced q per cent on the last call.
The following are the closing prices OF
Nho Nauv York Stuck exchaOQas