Omaha daily bee., 1902-02-26
NEW YORK rock AND BONDS
Market is Again Largely Devoted to
Obscure s~pecIaIties.

NEW YORK, Feb. 25.-Today's stock
market was again largely devoted TO OBJ.
scure specialties, both in the railroad and
Industrial list. Most of these showed adj
vances and the entire lack of explanation
Of the movements pointed to manipulation
have advanced heretofore were undergoing
a process of proht-taking, and the relapses
thus caused were sometimes exceedingly
sharp. Thus an advance of "a In st.
Joseph G. Grand Island was abruptly wiped
out by two or three sales at the last, which
carried the stock a fraction below last
night, and the first preferred, after rising
IL, relapsed S%. A similar abrupt dip was
made last night by Chicago, Indianapolis q
lost most of Il.
The minor stocks, which were strong
today. included the Duluth, South Shore &
Atlantic stocks, the Ann Arbor stocks,
Fort Worth & Denver City stamped. the
T Wss Q TKe sIsas ci ss0c soutS SniSa sfefe STes.
the American Binseed stocks. Glucose,
American Rubber Goods, Grass Irvine,
Electric common and first preferred, and
General Electric. Gains In this group ran
from to. 5 points On16 There ntos Were s, losses IS OF
number of similar stocks and National Salt
went down several points from It's last
here and there among the ~high-priced in
dustrials and In one or two groups as a
whole, but the movements were of little
was at all times mixed and irregular.
Amalgamated Copper and Sugar were in
lllG u HtaNlhNbCs NhC hAot ~ " -
that the purchase of a mine reported yes
terday had been given undue Significance
Se6ned sugar AmaIgsmated COPPER rose
suddenly a point over last night at the
last. Brooklyn Transit was notably strong.
The short interest seemed to be intimi-
dated by the large borrowing demand for
the stock, which has been imposed to be
for voting purposes to the coming meeting:
demand on trade conditions. but an abrupt
reaction in Tennessee Coal at the last;
the others in the group. The most notable
movement of the day was in Lackawanna,
very strong showing in the annual report.
other coalers responded moderately. In
the Readings the speculative pool was
buying the second preferred, while selling
The basis OF the speculation in these
StSess y IL the 10 sqbp e eonTsrte edae en sns ief into
the common and one-half into the first
preferred. which would fix the value. of the
the common and first preferred. The
strength of the specialties kept the general
undertone firm, but the dealings in the
stocks Of the great railroad companies re-
hected no convinced opinion on the pros
pect of any great changes In future condiI
The bond market was fairly active and
firm. Total sales. par value. $S,4S.OOO;
United States new As advanced " per cent
The Commercial Advertisers London
financial cablegram says: The market was
negotiations although later in the day
these were oficially denied. Consols sold
at 94k. Americans opened around parity
York purchases of Southern Pacific and
United States Steel preferred. The ru-
mored conversion Of the latter into 8 per
cent debentures involves 2 per cent of the
present amount There is talk Of a fresh
issue of steel preferred of E5O.0OO,00. The
per cent, with louisville & Nashville and
Southern Pacific lighter. Rio tintos sold
at 40H. Copper at E56 the ton.
The following are the closing prices on
the New York Stock exchange: