Omaha daily bee., 1902-11-13
NEW YORK STOCKS AND BONDS.
over Million shares SELL in Feverish
and Market.

NEW YORK, Nov. l2.-Transactions in
stocks ran well Syer 10000 shares again
lar market. The action of the market gave
warrant for the presumption that powerful
financial interests had set themselves the
task OF supporting the market. 1t was
assumed in Wall street that the selling of
stocks had taken on an ndiscriminate
character, that threatened substantial in
terests. There was a further threatening
break this morning which was not I'M
natural in view OF the rapid decline In
progress at the close of yesterdays mar
ket. Tn anxiety aroused among outside
holders of stock who were not within i'm
mediate reach OF their brokers yesterday
afternoon brought in heavy selling orders
TO commission houses this morning as a
result of which opening prices were from
one to three points lower for practically all
the leading stocks. These prices were the
lowest OF the day, although the level was
approached again on one or two subsequent
dips. 1t became quickly manifest that
buyers Of unlimited resources were In tho
market and the heaviest offerings were
quickly absorbed and prices were vigor-
ously bid up through floods of selling
orders. The supporters or the market had
a stormy time during the first hour and
prices kept running up and down a con-
manner, but by the end of the first hour
the selling had been brought almost to a
standstill and substantial ~recoveries were
established all through the list. The sup
port centered in st. Paul, Amalgamated
Copper and the United States Steel stocks.
The buying of these stocks had a notable
effect in reassuring speculative sentiment
just as their unsupported condition on
earlier days of the week was a notable
effect in the DEPT ession.
There were several special influences
which helped to encourage sentiment. Chi
cago q Northwestern, after a drop of 3
points, recovered 6 points on the issuing of
stock with the right to stockholders to
subscribe at par. The issue of a circular
to the Colorado stockholders asking for
proxies on behalf of the interest controll-
ing the principal Colorado railroad systems
disclosed q new contest for control OF that
property, which resulted in a sharp ad-
vance in its price. Manhattan was bene-
flied by the publication of a very favorable
annual report. Aside from these develop
ments in regard to the individual prop
critics there was very little news to ac-
count for the movement of prices.
Upon the first recovery after a temporary
pause attempts were made to renew the
advance, but the selling increased at the
higher level and prices fell back again.
Throughout the day whenever prices de-
clined effective supper was forthcoming
and on the other hand any considerable adj
vance invited renewed selling. The closing
was firm, however, and at about the top
level. Missouri Pacific offered effective re-
sistance to reaction throughout the day.
Money showed a rather easier tone, owing
to the extensive liquidation. and New York
exchange at Chicago rose again to par, but
sterling exchange was firmly held again
and 1t was considered possible up to late
in the day hat gold might go out on to-
morrow's steamer for France. The market
closed without any announcement being
made If a gold engagement.
Bonds were not as well supported as
stocks and were rather weak throughout.
Total sales, par value, A.4S0,00O
United States bonds were all unchanged
on the last call.
The following are the closing prices on