Omaha daily bee., 1902-10-18
NEW YORK STOCKS n BONDS.
More Rising Prices Finally Dispel De-
preston of Early Part Of Week.

NEW YORK, oct. 17-Another day of
rising prices characterized the stock spec
ulatiOn today and the degree of confidence
that prevailed was a notable contrast to
the depressed feeling that existed at the
outset of the week. The formal announce-
nent that Secretary Shaw had agreed TO
purchase all bonds of the issue OF 1879 pre-
scented at the subtreasury today and to-
morrow was an effectual tonic to the mar
ket. 1t was stated that a block of 5000, 900
had been accepted and 1t was predicted
that fully twice as much more could be i'm
mediately turned in by a syndicate AT lJI4
and interest, which would net about l&.
All told IT was expected that the tenders
lease of about $4,000 treasury funds, which
would be speedily available to the local
money market. With this prospect OF new
material in sight to continue active opera
tic ms the pools went to work with consid-
cradle confidence and bid up their favorites
notably. The call money market showed
great ease today and there were confident
expectations that a good bank statement
would be issued tomorrow, which would
contribute toward further ease next week.
The preliminary estimates showed that the
banks came out about even on their opera
tons with the subtreasury and the Interior
but the completion of some syndicate trans
actions this week is expected to reduce the
lean account decidedly.
Active operations by a noted speculative
clique was said to be based on the money
received from the Louisville & Nashville
settlement and was pointed out that the
early closing of the Rock Island capital
rearrangement would release a large
amount OF money which has been tied up
In arbitrage operations between the old and
new securities. The usual crop OF rumors
respecting this or that stock was put to
good usage during the day, but the most
tangible assertion was that a favorable
traffic alliance had been effected between
st. Paul and Union Pacific. Not much was
heard of the rumored increase In the Nor
folk e. Western dividend and yesterdays
interest in the stock was largely shifted
into other quarters. The soft coal stocks
as a group were a notable feature or me
Baltimore & Ohio caused an increased de-
mand for other stocks of this class. Heavy
operations were resumed in Norfolk d
Western at the opening, but after a rise to
500 the stock was liquidated heavily and
sold under yesterdays close for a .consid-
cradle part of the day. But little interest
was displayed in the anthracite coal stocks
and there was some disposition to reduce
dealings in them until the actual settle>
ment with the miners is worked out. Trad
Ing was furiously active during the first
two hours, and when the list showed some
disposition to lag st. Paul was brought
forward as a leader. Immense blocks Of
this stock were taken, lifting it IA to
lS4k. Large orders were placed simultane,,
ously in other transcontinental stocks, and
there was a ready response I'm all other
parts of the list, While there was some
shifting of interest from one group to an
other, the lessened demand for special
stocks did not undermine the strong tone
which Permeated the entire list. The
United States Steel stocks became promi~
nent after a long period of neglect, and
their rise started an active demand for va
rious other independent iron and steel
stocks. The high-priced specialties were
not much of a factor in the market. but
there was an increased demand for many
lCw-priced stocks, especially those In the
middle west and southwestern territories.
| Professional traders quite generally shifted
their operations to the long side and were
active in driving some of the stubborn
shorts to cover. Late in the day a heavy
buying movement developed in the eastern
trunk lines, led by New York Central. and
there was a more general inquiry for the
higher-priced railroads, including Illinois
Central and the grangers. Top prices
showed a fair sprinkling of gains reaching
. points and over, and there were many of
a point or more. The closing was active
and strong, but some of the leading futures
of the day werer below the best.
Railroad bonds sympathized moderately
with the rise in stocks and there was heavy
buying in the speculative issues. Total
sales, par value, $780,, 900.
United States old As and new As. coupon,
advanced Il and the new As, registered, u
per cent on the last call.
The following are the closing prices on