Omaha daily bee., 1902-03-18
NEW YORK STOCKS AND BONDS.
Bank Statement of Saturday A~ctivates
Stock Market.

NEW YORK. March 1.-THE general
speculative sentiment in Wall street was
a great deal encouraged by the improved
closed by the Saturday bank statement.
There was no absolute improvement in
the condition of the banks disclosed by
or less dread last week that the surplus
reserve would be entirely wiped out by
The large loan contraction effected as an
offset to this decline and the absence of
being done dissipated a good deal of the
anxiety felt over the money outlook. 1t
was this consideration that prompted the
professional traders to bid up the opening
prices for stocks. 1t developed, however,
during the course of the day that the pro-
fessional contingent still make up the mar
ket to a large extent and very little fol-
lowing was attracted by the advancing
tendency of the market. The principal
operations also were inclined to revert to
the industrials and specialties. This was
partly due to the fact that no relaxation
was apparent in the interest rates. Call
loans ruled at 4 per cent and over. This
was rather convincing confederation of
the supposition that the showing Of the
banks on Saturday was due to a shifting
of loans to other institutions rather than
to the cancellation. 1t was seen also that
the total of the loan contraction was &C
counted for by the decreased loans OF less
than half a dozen of the large New York
banks. Among the Gould stocks and the
agreement in a Show Of strength. A hope
full feeling in regard to the winter wheat
crop. a reported increase In. earnings by
Wabash for the second week in March and
the prevalent gossip over the acquisition
of the western Maryland railroads. all
conduced to this strength. There was some
to show strength on large dealings in com
mon with the other local fractions. Balti-
riers showed strength. Outside of this the
advances in the railroad list seemed to be
of fGd sPt ris CHARACTER Stsr as S were those ,ncr by the h
strength during the day and rose later 2%
over Saturday.
Other striking gains were in the local
gas companies, the electrical companies,
Continental Tobacco preferred, Minneapolis,
st. Paul & sault Ste. Marie, preferred and
were a number of sharp relapses from
recent high prices amongst obscure railroad
Amalgamated Copper continues very heavy,
that stock leading the list in point of ac-
tivity. Doubt over the maintenance OF
port was accorded It.. At an extreme de-
cline of 32 the stock touched 61k, only
about a point above the lowest recorded
price. The last price was a fraction higher.
The last prices were generally below the
best, owing to a movement to take profits
in the final hour, but the closing was
steady. .
Wabash debenture BIS were active and
strong, but the bond market generally was
rather quiet and irregular. Total sales, par
value, S30,O0. United States bonds were
unchanged on the last call.
The Commercial Advertisers London
financial cablegram says: Although Stock
exchange business aid not increase today,
there was a better tendency. forced sales
In mines having ceased. There were symp;
toms of bear covering. Consols were weak,
but apparently the only cause was a few
cash sales In a quiet market. American
shares were quiet, but business In this
quarter was lnfinitesimal. London bought
a few shares in the street. Rio tintos were
down q to ASS. Copper statistics show
increases OF stocks Of ISL tons and of sup
| mated Copper causes talk over here that It
Is the American policy to break copper and
new sales of Rio tintos confirm this idea.
1t is predicted that A-malgamated will touch
so. The metal was down y to e531k a ton.
Gold is OF Ad to US sd. Gold to the amount
of f2S0,OOO arrived today from Australia,
the Cape and India. That and some ad-
ditional is expected to go to the continent.
Silver rallied on small speculative buying
onsettlng New York sales. Paris exchange
Is 25.161a.
The following are the closing prices on
the New York Stock exchanges: