Omaha daily bee., 1902-10-15
NEW YORK STOCKS AND BONDS
Better Coal Situation Tends to
Market.

NEW YORK, Oct. 14.-The night develop
ments in the coal strike situation aroused
a cheerful sentiment in Wall street today,
and the opinion was expressed that the
matters at Issue were in a fair way OF
adjustment. The monetary situation was
momentarily lost sight of in the optimistic
feeling that prevailed at the opening and
stocks were eagerly bought at advances OF
one to four points over Yesterdays hnai
which the wheat pool liquidation had been
heaviest, were most in demand, especially
the coalers and transcontinental stocks. In
dividual orders for blocks of from 1000 to
1000 shares were taken at advancing prices
and trading was in enormous volume
the prices opened to the good news,
combined with the appearance of London
as a heavy buyer, encouraged the bull IN.
interests to cover. The inquiry embraced
all classes of stocks. but the largest ad-
vances were conferred In the highest price
class. Some comment was aroused over
the fact that the active coalers did not ad-
vance proportionately more than other
stocks, although the demand for them was
heavier than at other points. Early prices
showed such a handsome profit to the
traders who bought early yesterday In the
menced to unload quickly. Commission
houses were we'll represented In the early
soon exhausted their orders and prices
lapsed all around. Before noon the open
ing substantial advances had been pretty
| generally reduced to a fraction and even
cancelled in some important stocks. The
downward movement of prices was accel-
Grated by q IL per cent call money rate,
which called to mind the fact that the
monetary situation had to be reckoned
with in order to create a bull market. Deal
proportions for a long time. but there was
a steadily increasing undercurrent of
strength which eliminated in a violent
hour. which carried the entire market to
the best prices of the day. Prominent
leaders, such as st. Paul, Reading. Penn
4 .lxroD Akahtonn Grr0oH on6 AVnQIoo
mated Copper. were bought heavily and
there was a large absorption of various
minor stocks. The rally in prices was
IL per cent, the highest in the forenoon,
to 5 per cent. The action of the coal OPP
orators in agreeing to submit the question
at issue with the miners to a board of ar
bitration, to be named by President Roose-
welt, was freely discussed during the day,
absorbed with the keenest interest. Lon
don purchases of stocks were considerable,
and this, combined with more liberal Of
rather sharp decline in sterling exchange
rates. News for the day included the Sep
TENDER statement of foreign trade Stats
tics, which showed an excess of exports
over imports of S7, 702,27, which was a re-
duction of about 81, from the corre-
spending figures of last year. This indica-
some Of our staple products explains in a
measure the recent hrmness of the foreign
exchange market. despite the prevailing
was withdrawn from the Bank of England
today for expectation to Egypt, and it was
eagles was advanced I'd and bar gold ssd.
This will tend, In the event OF any indica-
ton of gold imports from here, to shift the
demand to continental markets. The SUBJ
treasury's statement shows that the banks
have gained nearly $2,O0O,O0 from that in
stitution since Friday, and 1t is believed
materially strengthened by the early liqui-
dalton. In stocks yesterday. 1t is expected
that the resumption of the mining opera
1 tiOnS will nnCegSitafA the forwarding nf
considerable money to the anthracite re-
gions. In the final dealings the stock mar
ket commenced to feel the weight of the
traders profit-taking sales. but the de-
mand was sufficiently large to prevent
much impression and the closing was gen.
orally firm.
The bond market today strengthened with
the course of stocks and was fairly active.
Total sales, par value, So, 900. United
States new As declined Y per cent on the
last call.
The following are the closing prices on
49, ATanr - ~