The daily morning journal and courier., 1902-08-16
THE STOCK MARKET.
Wa. Weak but Closed Generally Fiji

 New York, Aug. 15-The solicitude felt over the possible stringency of
 money was exemplified by the effect upon the stock market of furry in the i call money rate to per cent. The fact that stock exchange loans made on Fri
 day carry over until the following Mon
 day makes the customary demand on
 Friday somewhat more urgent than on other days. The special cause offered to explain to-day's sharp advance was the maturity of subscriptions for the new Oregon Short Line collateral bonds, secured by deposit of Northern Securi- ties stock The payment called for about fifteen million dollars and neces- sitated considerable shifting of loans to meet the requirements. The rate dropped back to near per cent. near the close, after the demand had been satisfied. There had been a number of other syndicate operations during the week which may upset calculations as
 to the bank statement tomorrow.
 Among these were the payment of sub
 building company, the payment of divi- , dend by the United States Steel under
 writing syndicate, the dividend on Unit
 ed States Steel preferred, payable to- day, and the bond subscription above referred to. So far as the indicated cash changes promise, to-morrows bank statement will not be unfavorable. The movement of currency with the in- terior seems to be in favor of New York still, the receipts on balance during the
 week amounting to s1,500,O00. against 1 the loss to the ub-treasury of $6S3, 900. l But New York exchange at Chicago fell
 to par to-day, compared with 10 cents 1 premium yesterday and 20 cents pre- mium on Wednesday. This is an index 1 of the growth of the pressure from the
 interior upon New York for funds.
 Rates for time money also advanced to-day to uniform per cent. for all | periods. In response to the higher
 money market there were additional | large offerings in the exchange market of loan bills as we'll as of grain bills
 for September, October and November delivery The exchange market was in consequence weak. An incidental in- l f1uence upon the weakness of stocks was the report of rains in the spring wheat harvesting region. which affected | the grain markets as well. As was to 1 be expected, the selling pressure was most acute upon those stocks which | have advanced most conspicuously of
 late Missouri Pacific fell a full two points below last night and the other 1 Gould stocks and the grangers and Pa
 cifics generally were affected in sympa-
 thy. Southern Pacific resisted the de- 1 cline but yielded its opening gain, re- covering again to about the best in the 1 closing rally upon enormous dealings. | St. Louis Southwestern preferred also moved up two points over last night 1 just at the close. The newest favorites | in the rumors of deals were the Toledo, | St. Louis and Western stocks, which were bought in demonstrative way by
 the western speculative party, closing at the top.
 The market generally closed firm. The bond. market was generally cas- fer Total sales par value $2,3S5,00o. | United States refunding twos ad- vanced IS, the old fours registered and 1 fves registered IA and fives coupon 12 per cent on the last call.
 | Closing Prices.
 Following are the closing prices reported by Prince & Whitely. Bankers and Brokers, 52 Broadway, New York, and 15 Center st., New Haven:
 l RiJ ksked