Omaha daily bee., 1902-10-10
NEW YORK STOCKS AND BONDS.
Early strength Gives way to Dull
ness, a. II Did on Wednesday


NEW YORK. oct. 9.-Today's stock mar
ket was much the same as that of yester-
day. The volume of dealings was about the
strength gave way to an intensely duli and
hesitating market In the afternoon, as 1t
did Yesterday. The closing was very ir-
regular, with a few of the leading stocks at
top prices and others at bottom prices and
sagging uncertainty between those levels
for the majority OF the list. The favorable
outlook tor easier money and the current
belief that the coal strike was on the eve
Of a settlement were the motives for buy
ing, which showed some urgency in the
case of the coalers. The obvious fact that
earnest consultations were going on and
every effort being made to bring powerful
influence to bear to effect a settlement of
the strike, gave color to the belief and
gave rise to countless rumors, zone of
which could be authenticateN.
The favortte story this morning was that
]. r. Morgan had asserted his authority In
favor of a compromise with the strikers and
that President Baer of the Reading had
thereupon resigned. Reports were current
that large orders which had been placed
abroad Tor coal were being cancelled by
cable on account of the imminence of the
resumption, Of mining, official disclaimers
of many of the rumors were put out dur
ing. the course of the day and prices de-
cllned in consequence. Stocas of gas COM
panies shared most notably IN the strength
of the coal strike, owing to the relief the
coal strike settlement would afford to the
scarcity of material for the manufacture
Of gas. However, gains of / to 2 points
were very well distributed through the list
at the period of the highest prices. The
B0a AAANAAN 419NSAh aA ~ nv VI
SO, OO0,0O0 on account of Australian gold at
San Francisco, was supplemented today by
the payment of $4,000 additional on the
same account. An incoming steamship also
brought another million dollars worth Of
gold of the South African consignment Sc
cured by the National City bank. The sub
treasury has contributed a small sum to
the money market during the week on reg
ular operations. 1t appears, therefore,, that
the banks have gained gold ~ the extent
of about $5,0O0,000 to offset the shipments to
the interior. 1t was the knowledge of this
condition that caused the hopes of easier
money. But while no liquidation was
forced by calling of loans the banks still
refrained from extending scans on the
Stock exchange. Late in the c=y call loans
time loans for thirty days to SIX months
are still held in the neighborhood of s to 8
per cent for the various periods, thus
showing the conviction that money will
continue scarce well into the coming year.
Sterling exchange steadied again To-Day and
Bank of England is preparing to borrow
money from the market in order to check
the downward course of discount rates and
prevent possible gold exports. The weekly
ton had lost $~5,621,OS5 in gold. The Bank of
France in the same time lost 2,600,0 900 In
gold. The New York exchange at Chicago
dropped today to 25d30c discount, compared
with 10c discount yesterday, thus indicating
pretty clearly the direction which will be
spared by the New York banks. The slim
ulating influence of the hope of easier
money was also counteracted In this way,
helping to the irregular tone of the late
market. Bonds became irregular with
stocks. Total sales, par value, 81, 100, 900.
the last call.