Omaha daily bee., 1902-11-12
NEW YORK STOCKS AND BONDS
Afternoon Decentralization Follows
substantial Money Recovery.

NEW YORK, Nov. n.-There was a fresh
outbreak of Generalization on the Stock
exchange this afternoon after quite a sub
stantial recovery had been achieved this
morning. The manner in which the market
acted at the recovery was such as to give
some preparation for the renewal of heavy
liquidation. 1t is a maximum of profess
sional traders, after a day of such violent
declines as those of yesterday, to buy
stocks and cover short contracts. This
was the course pursued In this mornings
market, resulting In ADVANCE of from one
to two points in the majority of leading
active stocks on the list, but the absorptive
power of the market showed a steady de-
crease as the advance in price proceeded.
Commission houses were practically idle
and reported that no orders were being
received from outside sources.
The market wavered uncertainty through
the MONDAY period and even stood with
apparent equanimity during the early
stages of the violent liquidation in Anal
gamdted Copper. The seemingly endless
outpouring of this stock eventually under
capitalists in control of this corporation
with those controlling the Standard OIL
company and the enormous prestige carried
by this group in financial affairs caused a
deep significance to be attached to the
unloading In Amalgamated Copper. AS a
consequence enormous liquidation was re-
newed throughout the list.
Some of the stocks which took a leading
place in the morning recover were the
most acute sufferers in the late weakness.
Just. at the close St. Pau made a spec
tacular tumble to 176, making a loss of 5%
points from last night. This movement
was accepted as additional corroborat ton
Of the unfavorable view of market values
taken by the financial group above referred
to. There was 40 new development to
account for the weakness and 1t was con-
.sidered to be due simply to the desire on
the part of the speculative holders to
tighten their load further pending the ext
gencies upon the money market, which
must be met between now and the first of
the year.
There was evidence of particularly heavy
ItnNnA1nNNnn L. GaUNfhAEA DAaNaA H. Mt
western there was a break Of 9 points,
United States Realty, one of the newly
moralized tone of the market set afoat
various rumors of financial difficulties.
The rally in the late dealings, which
reached a point in a few active stocks,
indicated a considerable part played by
the bears in the early selling. But this
demand was freely fed and the market
flood of selling orders. making the closing
very weak. Many stocks ended lower than
the lowest price of yesterday. Amalgamated
Copper broke through its previous low
record of 5Sk, established yesterday, and
placed It's record 3 points lower, closing
only " above hat point.
The Indications Afforded by the govern
ment crop report of a bumper corn yield In
excess of previous estimates helped the
recovery in the morning. There was a
feeling also that gold exports would be
deferred beyond this week. An excess of
over 100000 In the governments disburse-
ments over collections for the day, follow
ing a smaller excess yesterday, was re-
garded hopefully, although the local sub
treasury continues its heavy demand upon
the market for customs collections. New
York exchal ge at Chicago dropped back
2oc today to 10c discount, and yesterdays
small premium was attributed to remit
tances to take advantage of the break
In the stock market for the purchase OF
stocks.
The bond market was more mildly af-
fected than stocks. Total sales, par value,
50, 215, 600.
United States bonds were all unchanged
on the last call.
The following are the closing prices on