Omaha daily bee., 1902-09-25
NEW YORK STOCKS AND BONDS.
Quiet Close and Unsettled Undertone
After stormy Day.

NEW YORK, Sept 24.-After a stormy
day In the stock market the close was
a day of great fluctuations and many
changes In the course of prices. Twice
there was a dangerous break, which threat
ened Generalization, and twice there was
an effective recovery. Just at the last
there was some very large selling by hold
ers who seemed desirous of taking advan-
tage of the rally in force and who seemed
yet to harbor doubts whether the storm
Of forced liquidation had spent its force.
But there was undoubtedly n very general
sentiment at the close that the position of
the banks had been effectually strength
ened and that the violent loan contraction
might have reached it's limit for the pres
ent. The news of the sighting of the
of nearly H,500,000 was strong sentimental
influence on the market, was the sharp
break In sterling. The opening break in
active leaders, was aggravated by the un-
expected news of President Roosevelt's dis
ability. The reports given out from the
presidents train served to reassure on that
score. There was suspicion also that
yesterdays liquidation had been due to
ton on the president. The consequence
was that prices recovered pretty generally
call loans was announced at is per cent and
after a momentary reaction to 10 per cent
the rate. went to 20 per cent. Stocks were
then unloaded In enormous volume, with
the demand apparently reduced to nothing.
There was heavy slump of prices through
out which carried prices of many leading
stocks from to points below last nights
level before an effective resistance was
shown to the decline. The banks were cut
ting down commissions on call to broker
age. Assurances were heard from all sides
that abundant resources were available for
further was heard OF the soothing assur-
ance that there was no danger of money
hurries. The great speculative combines
which have taken out loans and bought
stocks on margin on this assurance for
some time past had nothing 10 do but to
sell out their stocks and repay the loans.
Various estimates are current of the eX-
tent of these loans for speculative pur-
poses and the closeness of the combine
among the speculative interests which have
acted together is not clearly defined, but
resources of s6o,00'OOO have been subjected
to Capitalization in the speculative cam
paign which was undertaken. The action
Of the banks this week marked the aban-
tained that measures of relief by the Treas
ury department and the automatic relief of
through the crop moving period Talk was
renewed today of an intention on the part
of the secretary of the treasury>to increase
the movement value of the government
bonds as security, but no official sanction
time customs collections have changed the
early gain by the banks this week into a
los loss Of over $4,000 to the sppbttrseasTry. subj
100000 for New Orleans. An effective
tude OF the brokers for a speculative COM
bination, which sold thousands OF shares
yesterday, put Wnlcn turned 10 the Duylng
side at the low level today. Their opera
tions were centered in the Gould stocks
and resulted in carrying Western Union
level. The smallness OF the net changes
generally marked the effectiveness of the
second recovery in the markeN.
Bonds suffered severely In the liquida ton,
but rallied vigorously with stocks. Total
sales par value, So, ,170, ,OO0 United States rs
declined u and the old as advanced a per
cent on the last call
The following the closing prices
the New York Stock exchanges: