Omaha daily bee., 1902-12-05
NEW YORK STOCKS AND BONDS.
Brokers FruitlessIy Attempt to Boost
Prices Early in the Day.


NEW YORK, Dec. 4.-There was another
attempt to put up the prices of stocks this
morning, but II did not succeed and the
were considerably lower than last night.
The principal part of the days business
on the Stock exchange had become COM
pleted by the end of the first hour and
there was no further activity until an active
selling movement developed in the last hour
and carried prices to the lowest OF the
periods of absolute idleness on the floor of
the exchange.
Many of the most prominent stocks were
not quoted at all from hour to hour. The
aggregate transactions for the day dwindled
still further from yesterdays small total.
The business was almost entirely in the
hands OF professional room traders and
many of the more conspicuous commission
houses had not as much as LOCO shares to
execute in the market. The effort to adj
vance prices was apparently based on the
somewhat easier tone which developed late
yesterday in the call loan market, but the
developments of the day precluded any
hope of early easiness In money and
prompted the traders to change their posi-
lower level of prices for the simple reason
that they were unable to advance prices
without meeting large sales to realize;
The sub-treasury statement for today
shows that the banks have lost to that
institution since last Friday over 5000. 900.
This did not include the 81 100000 withdrawn
today for shipment to South America. This
morning the sub-treasury was a creditor at
the clearing house for $416,9 ISL on account of
some heavy internal revenue collections.
1t will be seen, therefore, that the weeks
decline in bank reserves will be between
Sc, 900, 900 and $1,000, 900. The tone of the
time money market. which continues. very
firm, is convincing evidence that no relaxa-
ton OF the money market is expected be-
fore the turn of the year. AS the local
trust companies do not make weekly re-
ports of their condition, that element in
the situation is not known to the public,
but there is no evidence that they are
offering any OF their resources in the money
market at the present time and the tend
ency is believed to be rather on the side
of contraction in their case.
The Bank of England retained its 4 per
cent minimum discount rate this week and
the private rate went lower in the Dondon
market, but the banks weekly statement
discloses that the government has disbursed
over 100000 of its deposits, together with
the shipping combine payments, accounts
for the present easier tendency in London.
However, the bank has lost gold to the
| extent of about $3,675, 900 during the week.
Notwithstanding today's shipment of 81. 900,
900 gold from here TO South America, which
was in response to a demand diverted from
London, the Bank OF England sold today
81. OOO.O eco in gold for South America and
$500. eco TO Egypt. The Bank of France also
its loans ave been contracted about $50, 0O0,-
900. although the note issues have increased
! currency to the interior through the sub.
! treasury today and exchange at Chicago
rose from par TO 10c premium.
The advance in the price of refined sugar
and in the price of copper, both here and
In London made Sugar and Amalgamated
Copper comparatively firm. Fort Worth
a. Denver City rose on the prospect OF a
dividend disbursement in February. Re-
ports from trade authorities of a downward
tendency in the price OF iron products and
cost was a rather depressing influence.
Bonds were dull and in sympathy with
stocks. Total sales were $4,000 0 United
States IS, registered, declined 2 points ~
The. following are the closing prices or