Omaha daily bee., 1902-12-07

Spectators on wall street stiIl Hesi-
tate and Market Is D~eprensed.

NEW YORK, Dec. 6.-The dealings In
stocks today rejected no change from the
recently prevailing doubt and hesitation
Of the speculative community. Professional
traders were early indisposed to leave CON
tracts open, even over sunday Selling
during the iirst hour was followed by the
rebuying after the bank statement APP
peared, the weakness OF the showing hav-
ing been so well discounted that its pup
~lication induced no outside selling. II Is
learned that some large sums OF cash are
going to nearby cities to be used as change
in holiday business. Cuctoms collections
by the government will continue for an
other week on account of the importations
creases by the banks were not unexpected,
and II was even feared that a considerably
greater expansion had occurred In that
item, as several large transactions are
known to have been made in the loans. The
foreign houses are now the important fac
tor in the loan market and 1t. Is believed
been secured by drawing foreign exchange,
which is in effect a short sale of exchange.
The higher rate for time loans serves as
an attraction to foreign lenders. There
have been very large ~repayments of for
eign buyings for some time, which are
believed to have been secured on very ad-
vantageous terms for employment in the
stock market. Their expiration was an
important influence in the heavy liquida-
ton. Some of these funds seem to have
been reloaded during the last week at the
better terms now prevailing.
The undertone Of the bond market has
been depressed, in sympathy with stocks.
cent, as compared with the closing call of
last week.
The New York Financier this week says:
The official statement Of the New York
Associated Banks last week showed the
large loss of 50, S31, 100 cash, this amount
very closely corresponding with the estl-
mate of a decrease of 6,92S,90 which esti-
mate was based upon the trAceab.e move
ments Of money. during the week. Inc
loss was largely in specie, this item show
ing a decrease of S6,2l9, 400; the reduction
in legal tenders was sell, 700;
The loans were increased only. N,6ll,OO
indicating that there must have been con-
siderable contraction as the result of dis
burst ment of funds fer the December set
Elements. The loaning Of money largely
contributed to the expansion of this item,
week. Deposits decreased $4.O74,20O, or
81, las, 800 below the amount called for by
the decrease in cash, less the increase in
loans; therefore, the statement was tech
was reduced by S1,O1S,55O through the de-
crease in deposits. Deducting this sum
from the loss in cash leaves $500, $50 as the
decrease in surplus reserve. 1nls item
now is $685., $50, against $~6,6O1,6i5 at the
corresponding date last year. Computing
the surplus on the basis Of deposits, less
$40, 1876, 200 of those of the government, 1t is
500, 0l0, 800, a decrease, compared with the
previous week, of S. AIS. The circulation
the previous week OF S95, 100. The average
daily clearings for the week were $245, 900,
600, or SIS, OOO, 900 less than those in the pre-
vious week. The changes in the item OF
specie show that six of the larger banks
lost 81, 5000 0 net. One of these institutions
indicated a decrease of "a, 800, OO, and an
other of 50, 200, 900. The changes in loans
chow tina eight banks increased this item
by S40O,O 900 net; the largest gain was $4,000,
600 by one bank.
The following are the CLOSING prices or
the New York Stock exchange: