Omaha daily bee., 1902-11-08
NEW YORK STOCKS AND BONDS.
General Tend of Prices Higher Than
Preceding Day.

NEW YORK, Nov. THE irregular tone
of the market continued today. The level
of prices was above last night for the
greater part of the day, but the advances
were exceedingly spotty and were not well
maintained. In the late dealings, as was
the case yesterday, the efforts of profes-
sional operators to realize profits on the
early advance wiped out the advance and
the market closed weak with net losses
5prinkled all through the list No import
ant gains were left at the close. The deal
ings were smaller than yesterday and were
even more strictly professional. The opera
tions cannot be said to represent convlc-
tion on the speculative outlook, but were
simply the result of efforts of professional
traders to find a current of prices for the
purpose of making turn. There were
evidences of resumption OF activity by
one or two of the pools which have made
periodical effort recently to advance prices,
but the stocks in which they operated SUI
fered in common with the rest of the list.
At the last Sugar was drug on the mar
ket and its hnal dip OF 2Ss points was an
influence in the general weakness. The
stiffening of the call money rate at the last
and the promise of a poor bank statement
were contributory factors to the reaction.
A decline in bank reserves for the week of
upward of $3O00,O00 is indicated. Most of
this was transferred to the interior by eX-
press and through the sub-treasury for
purposes of the circulation. Payments on
account of gold at the sub-treasury largely
offset the heavy receipts for customs. The
collections for this account during the
week have reached about $SOO0,CO0. The
announcement from Washington that no
be made with the national banks therefore
had some effect on sentiment. although the
deposit of bonds with the Treasury depart
ment for this purpose has been very slight
for some time. The strength of sterling
exchange was an additional threatening
factor to the money market, although fur
ther advance in sterling exchange at Paris
lifted somewhat the point of profit for gold
exports. On the other hand, there were
reports that Chicago was receiving some
returns of currency from points of further
west, and New York exchange at Chicago
rose to 10d20c discount Additional reports
of a decreasing tendency in the net earn
ings of railroads had to be faced. Amongst
the early points of strength the soft coalers
were conspicuous. Today's meeting of Nor
folk G. Western directors was expected to
advance the dividend rate and when they
adjourned without action prices of the
group ran off The weakness of Hooking
Valley was due to reports of a competing
line from Columbus to Toledo to be oper-
ated in the Pennsylvania interests. The
anthracite coal interests were in some de-
mand on account of the agreement of the
operators to abide by the decision of the
arbitration commission. The advance
amongst the corn and cotton roads may
have been due to crop prospects, but they
were generally attribted to pool manipula-
ton and did not hold.
The bond market was steady on a small
volume of business. Total sales, par value,
81 10000
United States Is declined z per cent on
the last CALL
The following are the closing prices on
o he Nau Qfork axphanRa.