Omaha daily bee., 1902-11-02
NEW YORK STOCKS AND BONDS.
Change from Creditor TO Debtor Ma
tion Excites Concern.

NEW YORK, Nov. with the holiday
n London and the coming, holiday here,
h 1R9 local to5 market N5 TplSd dul iSset fRd m S5s
slightly higher prices were shown at the
opening, though, there was an undertone OF
irregularity. The greatest gains at the
opening were in Manhattan, st. Louis &
San Francisco and Colorado Fuel and Iron.
Apparent. covering in Reading brought a
fractional advance in that stock and II was
reported that one firm of brokers had bid
o.aC LOT any part OF W." sndres OF ~
were Rock Island and Canadian Pacific.
The special class was most prominent, but
fluctuations were insignificant Many OF
the standard issues were neglected. Kan
sas City, Fort Scott 4 Memphis, which
opened with a 1-point advance, lost all its
gain and more on moderate transactions.
The buying Of Colorado Fuel was attrib-
uted to two widely different issues and
was the only feature of the Industrial
class. Manhattan was not sustained, the
stock making a net loss on comparatively
bank statement had not entered very seri-
ously into the calculations of traders, yet
and the selling which followed Its publica-
ton lacked vim.
The surprising feature of the bank state
ment was the heavy expansion of loans.
Last weeks individual statement showed
that three of the leading banks carried
these institutions put their holdings into
the loan market this week. The gain In
cash was due chiefly to the past weeks
payments for government bonds, some of
which were purchased too late to figure in
the statement of that week. The further
increase of circulation indicates that the
banks have been acting on Secretary
Shaw's suggestion to strengthen their
positions in this particular. For a Satur-
day there was unusual activity in foreign
exchange. Demand bills were quoted at
S4.S6S0 to A.S6S5, with a fairly good inquiry
for remittance by the coming weeks
steamers. There was some talk of special
gold shipments to Australia, but, details
were of the opinion that the dullness OF
the week was due to causes Tar removed
they believe this country has changed from
a credit to a debtor nation, and that It's
arrangements abroad are not likely TO be
i liquidated without some strain, has I'M
questionably excited concern in conserva-
tive places. 1t has created a situation
must result in a drain on the country's gold
reserves before the end OF the year, For,
eign advices agree that England and
reason of its international troubles. Will
soon demand goodly Instruments of the
exchange during the week indicated that
England's debt to France could easily be
New YORK to Paris. The iabof problem
also developed Interestingly. There were
fresh demands By various podies of train
men in the west and the situation on the
Pacific slope became rather more acute.
The attitude of the coal miners in their
relations toward the independent operators
was also regarded as an uptaNorable cir
of the bond market there is little to say.
| 4NNRA nat g NNNS# -
last of the week. Thei better tone resulted
from aggressive buying by pool traders.
though not. a few traders reversed their
position on the belief that the Liquidation
had run its course The professional ele-
ment was dominant throughout, however,
and there was next to no public or invest
ment buying. Including premium and In
terest the subtreasury had paid out almost
$22, 1900 for bonds under the recent offer
of the Treasury department.. The treasury
statement for the first four months of the
fiscal year shows excess Of receipts over
expenses Of $l3, 10000. Call money ranged
from 3 to- per cent during the week, the
high figures being reported on Friday. The
banks were again partial to good CONNER
cial paper in call loans, the rate of which
relaxed TO 5h per cent, but later returned
to 6 per cent. 1t IS estimated that almost
S64, OO6,O coo will be disbursed during the
month for interest and dividends of lead
ing railroads and industrial and other cor
porations, as against a little over S60,OO,O0l
In November of last year. Trading in
bonds was in small volume during the
week and the movement irregular on a
narrow range. United States 2s declined
u per cent, as compared with the closing
cali of last week.