Omaha daily bee., 1902-10-31

Market Dull and Marrow, with Occa-
sionhl Signs of Better Feeling.

NEW YORK, oct. 3O-The stock market
was again dull and narrow today, though
at times there were indications of a some
what better feeling. This may have been
due TO the slight decline in demand sterl-
ing, which lessened the probability OF early
gold exports. other favorable features in
cluded some more reports OF railroad earn
ings and Bondon's more friendly attitude,
though that center dealt very moderately
in this market. and sold quite as much as
It bought. Opening quotations were gem
orally a fraction better than the previous
days close.
The strong features in the early trading
included st. Paul, Baltimore & Ohio, South
ern Pacific, Sugar and A~malgamated Cop
per. Among the stocks that registered de-
clines at the same time were Reading.
Louisville s. Nashville and United States
Steel. A further tendency toward better
prices was soon shown, and Norfolk Il
Western. Missouri Pacific and Manhattan
were quoted at improved prices. There was
no news to account for the general i'm
provement other than that traders seemed
to think the market had been oversold.
The Gould stocks, as a group, developed
Increased strength under the leadership of
Missouri Pacific, and there was a moderate
demand for Texas Il Pacific. The trading
in Pennsylvania, Baltimore & Ohio, Canad-
ian Pacific, Illinois Central, Delaware a
Hudson, New York Central and Wabash
seemed to have some foundation. North
western was sensitive and declined on
small dealings, but later made partial re-
covery.
In the special class American Cotton OIL
made a further gain, but Colorado Fuel &
aa1a q. 1AAAS ~ SAAAN@1 $1,000
Reality shares we're dealt in for the first
time, the preferred making / point advance.
Speculation became rather Irregular and
reactionary toward noon, and business
dwindled to the slimmest proportions. While
inside support was not altogether lacking,
II was clear that any attempts In the direc-
ton of activity and a higher level were met
with offerings of long stock.
The list held barely firm during the early
afternoon. though the reactions were chiefly
due to room trading, st. Paul developed
unusual strength in the last hour, making
a maximum rise of 81 points, but profit
taking and the failure OF the directors to
take action on the proposed issue of extra
stock caused general selling. The re-
mainder of the list went off in sympathy
and the closing, while easy, was dull.
Demand sterling was quoted at $4S6S0G
A.S6Sb. The rate for exchange hardened in
Berlin, and signs of a recovery in Paris
exchange on London were lacking. Call
money worked as high as 6 per cent In the
final hour, but most of the days loans were
made between ~ and 5 per cent. The
advance in demand loans was probably due
In a measure to the final m on Satur-
day of $27, 100000 for account Of the recent
bond increase of the Pennsylvania rail-
road. Arrangements to meet this payment
were perfected some days ago, however,
and 1t is more than likely that the advance
In call money was largely influenced by the
| belief that gold exports must come. The
recent loss of the banks to the sub-treasury
has been more than made up and the local
institutions now show a gain of about
81 500, 600. Among the traffic returns reported
was that of Union Pacific system, showing
q net increase for September of $234,0O0.
The bond market continued very dull, but
prices were well maintained. Total sales,
par value, 81 ,760,O00.
United States IS coupon, advanced Y per
cent on the last call.
The following are the closing prfcea on