Omaha daily bee., 1902-10-16

Higher Prices Rule, Though for No
Very Obvious Cause.

NEW YORK, Oct. 15.-Further progress
was. made toward a higher level OF prices
in the stock market today, although there
were : no new actual developments in
either the monetary or the coal strike sit
uation to indicate any material change in
conditions. Nevertheless the feeling was
more prevalent that the coal strike will
reach an early amicable end and that
measures are to be taken by Secretary
stringency of the mokey market. His &C
ton was said to be In the nature of fur
various interests being credited with hold
ing large amounts which would shortly be
turned IN. The sums ranged from $1,000
900 to SS0,OO0,0OO and the report was Wig
orously circulated throughout the street.
Whether there was any foundation or not
in the rumor. the money market reflected
opening at 9 per cent, the highest, and
then shading gradually to 5 per cent Con-
siderable attention was given to the report
that there would be certain notifications
in the terms proposed by the coal oper-
ators for a settlement of the strike, which
would insure operation for the miners for
the points contested. Nothing developed
regarding this, though II was colored to
some extent by the heavy buying or Read
Ing, which showed considerable strength
throughout the day. The dealings were
class and there was a disposition in gem
eral to await active developments before
pursuing active operations In this quarter.
grangers, Paoiics and Southwestern stocks
were bought freely and the entire market
showed 0eCiOeQ StTenRtn at one Ume OF
another. st. Paul. Louisville and Illinois
Central were conspicuous in the days deal
ings and made exceptional ~advances of 2
points. Prices elsewhere averaged a point
pretty generally, with quite an active de-
mand in a number of specialties. The
Gould stocks as a group received the most
consistent support, the heavy buying OF
Missouri Pacific having a sustaining enect
on the lower priced stocks. Some disap-
PTSo pol menu was m. rsit 0 SDd sse the hea SrSissaS os
dealers turned sellers, the early market
showed some weakness. Realizing sales,
however. by the local traders were soon
ders for the transcontinental stocks and
the movement throughout the, day was
checked at lines by profit taking. Trad
Ing lacked the breadth and activity Of the
early operations of the week, but there
the general situation. Sterling exchange
| rates made a further decline today. demand
s Sda1s f asfK of the % nt sfSS;s5Si Of sn early iSe Imports %fs
OF gold. The payment today of the second
instaIlment Of S7,O0O.OO0 on the Louisville
tributing toward a further ease in the
| speedily redistributed again through the
made by the subtreasury today of 5000. 600
/ on transfer account from San Francisco
and 1t is expected thai further consign-
ments of Klondike gold will be available
to the money market in a few days. No
currency transfers have been made TO the
lDtefiOr Dy tnlB inSlllutOn THIS week ana
there was a feeling in banking circles that
the general conditions favored lower money
rates. p
In the latter part of the session stock
trading was virtually stagnant at times,
especially when the market was under
pressure from realizing sales. There were
occasional bursts of activity and these as a
rule were marked by advancing prices.
Proht-taking sales outweighed the buying
orders in the final hour and there were a
number of important reactions. which were
not checked by a final upturn in st. Paul
to the best. The closing was dull and
easy. The bond market was dull today,
but displayed a firm tone. Total sales, par
value, 81, 900 bushels.
The following are the closing prices on
| The New York Stock exchange.