Omaha daily bee., 1902-10-28
NEW YORK STOCKS AND BONDS
Trading Light and Professional Ele-
ment still I'm Control.

NEW YORK, Oct. 27.-The course of to-
days stock market gave little promise OF
row conditions. Trading was light and the
professional element was still In control.
Reports Of fresh labor troubles among the
railroads running into Chicago were heard.
Traders received no encouragement from
London, where quotations for the internal
tional stocks were fractionally lower. Colo
RADIO Fuel and Iron were the most active
feature of the opening, advancing over 3
points on moderately heavy transactions,
the close. Baltimore & Ohio was extern
sively traded in at an opening decline and
Lackawanna sold up l point at the first
and only offering of the day. BY the end
Of the first hour the weakness of the list
became more marked, though with no direct
evidence of pressure to sell. Losses. OF a
point or more were then shown by Atchi-
son, New York Central, Pennsylvania
Baltimore & Ohio, Erie. Reading, Louisville
& M Westsrn T ~eRssa E Pac, 4 mis- Misso mTrf PaS
cihc. ST. Louis Southwestern preferred,
Wabash, Minneapolis, st. Paul & Saulte
Canadian Pacific, Sugar, A~malgamated
Copper and Hide g. Leather preferred. With
scarcely an exception the heaviness of these
issues continued throughout the day and
in some instances became more acute.
There were a few feeble rallies, but these
afternoon brought a turn of general weak
ness. The selling seemed to come from
small holders on the longs side. London
sold the list impartially to the extent Of
about 1900 shares, and bought moderately
of Northern Securities. Commission houses
cut no figure in the days operations. and
traders viewed the situation with increased
indifference. TIL only noteworthy feature
was the decline In the rate for commercial
paper, which was last week practically un-
o~btainable at less than the legal rate, but
today fell to 5hQ5% per cent. This rate
was secured by borrowers of first rate
commercial credit and was generally &C
oepted by interior banks, which prefer 70
loan money to mercantile interests, rather
than obtain the high rate in Wall street.
especially significant in showing the down.
ward tendency of money. A slight advance
was shown in sterling exchange and 1t was
ton of commercial bills over Sunday. Ex-
change was quoted at AS650d4 1850. In
spite of this increased firmness, gold ex-
ports are regarded as more remote than
ever. Another shipment of Australian gold
to this country was reported by the Anglo
California bank of San Francisco, and the
amount. $,750.000. probably will be trans
ferred to this center at an early day. The
with a further contraction of business. One
OF the special features was a 10-point de-
cline In Brooklyn Union Gas and other
high-priced stocks were off 203 points. The
close was weak. Further gross and net
traffic returns, some Of them quite favor
able, were reported by Louisville & Nash
Vile. Southern Railway, Mexican Central,
Cleveland, Cincinnati, Chicago & st. Louis,
Georgia Central and Hooking Valley. In
the way OF gossip it was semi-of1cially
stated that there would be early increases
In the Louisville & Nashville dividend rate.
The heavy selling of Norfolk & Western
was ascribed to the belief that the coming
dividend announcement concerning the
common stock would prove disappointing.
around on small dealings. Total sales, par
value. 1895, 900.
United States bonds were all unchanged
on the last call.
TA- 49,