Omaha daily bee., 1902-08-26
NEW YORK sTOCKs AND BONDS.
Determined Attempt to Bull Market
Only Partly Successful.

NEW YORK, Aug. 2.-Today's stock
market reflected a very determined demon
s%tration for an advance. but effective oper-
number Of stocks. The speculations were
clearly under the same auspices as that
which originated in Southern Pacific last
week and which was predicted upon the
return to the street of a we'll known. spec
ulative leader. The holiness and the dash
Of today's operations We're indicative of
the personal direction OF this leader. The
early advance in Southern Pacific was
taken advantage OF very effectively and
Iroht,taking, which. very completely wiped
out the opening gains.
Instead of resuming the campaign imme-
diately In that stock, It was shifted TO It's
affiliated stock. Union Pacific, and to Bal
timore & Ohio in the east. The sympa-
thetic response Of these movement was
almost wholly confined to stocks imme-
In the case Of Baltimore a. Ohio these
were pennsylvania and Chesapeake a.
Ohio. Southern Pacific made some recov-
were gains here and there amongst the
grangers, but on very light transactions.
Northwestern's So points rise in response
to the favorable annual report was made
on a single transaction. Minneapolis, ST.
Paul q Sault Ste Marie went of violently
6h, without any explanation and Evans
81, points rise. In the railroad list other
gains were few and amongst obscure
TIL express stocks again made a con-
cert with no news to throw light on the
movement, Among the speciaities Western
Union Manhattan and Tennessee Coal
were the most conspicuous examples of
strength. 1t was a notable feature that a
large mass of securities of very prominent
railroad companies lay practically dor
mant throughout the session and there
were some prominent examples showing
net losses: This disinclination to follow the
bold leadership profered by the active
stocks were due to the uncertainty over
the money situation.
On Saturday afternoon after the Stock
exchange had closed the treasury was
called upon to ransfer S26o.O0O, which was
o oeITts Tod for , The o purpose. to interior
p9sited for this purpose. OF this amount
$4,000 goes to Chicago and the rest TO
New Orleans. New York exchange at Chi
cago remained at a discount today Of 2Oc.
This Is pretty conclusive evidence that the
force. :" III
Had It not been for the aggressive lead
ersnlp IN the Few strong stocks today IL
is to be presumed that the stock marked
YOU'D nave reflected some greater appre-
nension because of this rapid depletion.
Last weeks moderate replenishment Of The
surplus was wholly due to a reduction Of
deposit through loan contraction. Todav's
LoTeisn exchange market was easier, in
spite OF higner discount rates in london,
lower sterling at Paris and sales of stocks
Tor London account here.
me grain market showed large seaboard
c~iearances and there was a considerable
supply OF spot cotton bills in the exchange
market. The rate for call money was also
undlsturbed, opening Vt 4 per cent and
yielding to below that rate. The conspic-
uously strong stocks closed active and at
the best making the closing the closinS
generally steady,
The bond market was never very ACTIVE
outside OF Union Pacific convertibles, but
Mas Strong. Total sales, par value, 1885,
900. United States bonds ali advanced Il
pei, cent on the last call. -
a ion9wlng are the closing prices on