Omaha daily bee., 1902-11-23
NEW YORK STOCKS AND BONDS
Coal Strike News Helps the Market,
but Close In Lower.

NEW YORK, Nov. 22.-Further improve
ment was shown by the stock market at
rising to a higher level. The latest news
regarding the coal strike situation was
doubtless %Ss sesiv g S snd fsiqiy w Keft0F d%is Sq5tness
with more covering by the short interest.
Commission houses were prominent
was reported for out-of-town accounts.
st. Paul, the feature of yesterdays mar
a aeet m me could stocks Stocks W. We're ee1 frssctionaiiss
Denver & Rio Grande, Reading was act
shown by New York Central, Illinois Cen
trail, Southern Pacific and Pennsylvania.
by Delaware & Hudson and illinois Cen
trail. Rock Island was firm on western
buying orders. Sugar and Steel stocks
were the conspicuous industrlals' Realiz-
Ing in large volume wiped out some of
the early gains, st. Paul and Illinois
Central making material declines, as did
also AmaIgamated Copper and several
other issues. The list as a whole was
fairly strong, especially the hard coal
also q smart advance ia 4.inneapolis, ST.
Paul & Sault Ste. Marie preferred. Com
paratively little was done la Manhattan
and the other local fractions. For no APP
parent reason, the market went off on
the publication OF what Was regarded as
a fairly good bank statement and the
closing was generally below yesterdays
hnal quotations. Save In the matter Of
loans. where a greater decrease was
looked for. the bank statement about met
popular expectations. The comparatively
small contraction Of loans was due, IL Is
thought, TO the fact that mucn OF the
money called In by the banks during the
early week was reloaned later. The ag-
Rregate of loans now outstanding is $685.
90 900, or about $4,000, 800 less than when
the last slump In the market began. The
subtreasury made another transfer OF
$4,000 10 San Francisco and $4,000 to
New Orleans.
The bond market closed steady; Huctua-
tions we're not pronounced either way.
! RugineEE was concentrated an the Semi
speculative issues and the rise in the
closing days impaired a stronger tone to
As declined ~ as compared with last
week. closing call,
says: The statement OF the associated
banks last week shows an increase OF
S1s,S0 in cash an amount very closely
which was $3.50. 500; the specie decreased
&i2. 800, while the legal tenders increased
s6e5, 900. The loans were reduced 81. 2O7. 200.
making a contraction Of 1928, 400 for the
fortnight, a much smaller amount than
Was locked for considering the ENORMOUS
Stock exchange on the previous week. IL
Is probable. however. that the small loss
funds which had accumulated for pending
syndicate payments. The deposits de-
SSISsSsSSSSa ',bsn mai eaIIed Tor 10 ne 10y
duction in loans, less the gain in cash
hence the statement was technically
VAS red HSs ,Bs5.sSs. AIDING guns this ssm tS
the net gain in cash makes Hes, O65 as the
increase in surplus reserve. This item IL
now Sl9.l59.915 against N4,5s5,S SIS at the
corresponding date a year ago. Computed
on the basis Of deposits less those of $40,
1853, 70 of the government the surplus IL
S29.5O 500. The circulation was increased
STal,60 during the week. making the
amount now outstanding A5. S7. 100. Al
the beginning OF July y was So, 6Ss, 500
the week were Sk9LO00.O0O, while those fol
Saturday, refectiWs Fridays business
were &293, S91, 743. Comparisons of changes
In the item OF loans by the larger banks
show that eight institutions increase THU
more Than onset BY gains The speci.
movement by FIVE bank shows a net in
crease Of $4,000. Bank conditions seen