Omaha daily bee., 1902-09-19
NEW YORK STOCKS AND BONDS.
Money Market is Quiet, but Rates
still Hold Stin.

NEW YORK, Sept. 1S.-The stock market
maintained its undertone of strength today,
but the trading was extremely apathetlC
outside of a spotty assortment of stocks
whose show of strength helped to sustain
q%uieter, but rates were still stiff. Loans
were left undisturbed, however, and no
pressure of liquidation was forced. The
level of prices was not disturbed, except
as the sympathetic Influence of the strong
stocks helped to harden the market. The
Gould group was the most conspicuous.
Reports of a plan were current with color
o; official sanction for an exchange OF st.
Louis southwestern preferred for a Mis-,
sCuri Pacific bond. This was interpreted
by a speculative contingent as. a forerun-
ner of the long expected Gould consolida-
ton plan. Missouri Pacific came into the
movement late In the day and took the
leadership of the whole market. The return
to New York of President Gould from a
tour of inspection served to stimulate the
larger gain on a small volume of dealings.
The advance was based upon the decision
Of the Iowa state authorities that the Rock
Island reorganization plan is not In con-
travention of the Iowa law. There was ac-
tivity and strength In the curb market In
contracts for the new Rock Island securi-
ties. The stocks of Independent steel com
panies were strong as a rule because of the
reports of the extraordinary pressure Of
orders for all grades of iron and steel
products and a degree of activity in pro-
duction which is limited only by the avail
able supply of material. The freezing
weather in the northwest was ignored until
the break in the corn and wheat markets,
which helped to stifen stocks. The com
parative heaviness of some of the southern
railroads may have been due TO the per-
sistent unfavorable reports from the cot
ton crop. The money outlook continued
the principal topic of discussion in the
financial district. There was no radical
change in the situation today. An addi-
tional engagement of $500, 600 Australian
gold was announced to arrive several weeks
hence. The banks continued to lose to the
subtreasury. notwithstanding the disburse-
ment by that institution on account of Oc-
tober government interest, the customs col
lections and the deposits for transfer to the
interior serving to more than offset the in
terest payments. However, the loss to the
subtreasury since Friday has reached only
same time last week. While the decline Is
thus reduced, 1t will be seen that nothing of
the needed recuperation of the banks re-
serves has been afforded by the treasury's
measure of relief. The fact that the Bank
of England refrained from advancing its
Interpretation. But sterling exchange here
continued to harden to a full cent above
the low level of the week, carrying eX-
change we'll away from the gold import
point. The prices of gold in the London
market was advanced and something over
N,O00,000 was withdrawn from the bank OF
England for shipment to points other than
money market in New York is due in no
small part to the constraint upon the spec
ulation at the Stock exchange. The mar
ket closed dull and steady.
The bond market was dull and about
steady. Total sales, par value, s., $50, 600,
IS "A and the old as Is per cent. The new
As declined a on the last call.
Thu following are the closing prices on
the New York Stock exchange: