Omaha daily bee., 1902-10-24
NEW York STOCKS AND BONDS,
Foreign Exchange Governs Market,
which ~specuIates Considerably.

NEW YORK. Oct. 23.-Foreign exchange
was again the governing feature of the
able speculation In exchange because of the
slightly higher rate for sterling at Paris
the volume of bankers bills put out during
the morning. These offerings, II was be
lieved, represented accumulations of bills
held in reserve for such an emergency.
Most of the days business was done at
A.S675 for Saturdays steamer. Experts in
timated that an outward gold movement
negotiations could not yet be contaminated
on a profitable basis. Later In the day de-
fered at $4.S66O. Little can be said for the
stock market, which was duller and more
week. Some speculative activity was SHOWN
at the opening in Baltimore & Ohio, Read
ing, Erie, Atchison, Pennsylyania, s.. Paul,
Missouri Pacific and the st. Joseph a. Grand
Island securities, all of which scored slight
advances. The rest. of the. list was fairly
firm, with practically no demand for the
industrials. Further activity was shown
during the morning session when Louisville
&, Nashville, advanced 2 points, but else
Operations continued almost altogether pro-
fessional, and some traders covered their
ket had been oversold. The early gains,
with few exceptions, were soon lost, but
such issues as Louisville & Nashville, ST.
Sugar and international Power were about
the only industrials dealt in up to this
time, and transactions in the latter stock
were believed to be for pool account.
Up to the final hour there was no decided
pressure to sell, but in the late trading such
stocks as Lackawanna, Baltimore g. Ohio,
Kansas City Southern and a few industrials
were m down to the lowest prices
Of the day.. The liquidation In Northwest
ern was believed to result largely from the
unfavorable view taken by traders of the
new relations of the Union Pacific road with
st. Paul, Rock Island and Illinois Central.
AS proof of the extreme tenderness of the
market a sale of 300 shares of
early In the day caused a drop of Almost 4
points. The uncovertng of stop-loss orders
In the same stock caused a further decline
of almost 3 points, with a net loss OF va
points, the stock recovering on buying or
ders at the close. For the hrst time In
over a week London was a buyer on bal
ance, but even this fact, together with the
ease of Paris sterling and another Austria
enthusiasm. The closing was weak and the
days business was under 100000 shares. One
Of the disturbing features was a report of
labor troubles on the Southern Pacific sys-
tenn. Call money ruled at from 4 to 52 per
cent, most Of the days loans being made at
the higher figure. No change was reported
in time money rates. Two important finan-
cial transactions will have to pc met In this
market within the next fortnight. On Sat
urday the first payment for one-half on the
600 capital stock falls due. On November !
the second installment of about 81 100000 of
the Pennsylvania roads stock increase Will
have to be met.
Some of the speculative issues In the bond
market were heavy, but the movements
were without Importance except in the
| Wabash debentures.
| The general list was irregular and dull.
| Total sales, par value, $1,1S5,OOO. United
| States rs and 3s advanced u and the new
The following are the closing prices on
| the New York Stock exchanges: