Omaha daily bee., 1902-12-23
NEW YORK STOCKS AND BONDS.
Market shows Considerable Strength
Before Good VoIume of Rusfness


NEW YORK, Dec. 22-There was a good
volume OF business I'm stocks today and
the market showed strength and breadth.
The iarge dealings and the notable strength
In a few prominent securities had a notable
sympathetic effect on the whole market.
The trading showed diminished animation
OF prices attained was pretty well held.
although the closing was slightly Irregular
9y reason OF q fevertsh movement in Sugar.
The stocks which led the market had indi-
Nidual grounds for strength. mostly in
the shape Of rumors Of a probable increase
In dividends, or OF other benefits. This
was the case In Missouri Pacific, New York
central and In the outside market. The
rumor concerning Northern Securities was
TO the effect that there is to be some ex-
traordinary distribution among Great
Northern stockholders, of which the North
ern securities company is the principal one.
no orhcial sanction was given to any Of
these rumors. nor was there any confrma-
ton OF the reports that BILE rights are
to be given to stockholders in connection
with the proposed new stock Issue. Sugar
strength was attributed to a further drive
against the shorts in connection with the
prospects for the Cuban reciprocity treaty.
Canadian Pacific and It's allied stocks were
strong features without special explanation.
Amalgamated Copper was helped by re-
ports that copper litigation In Montana has
been passed indefinitely by common con-
sent of both contending interests in the
industry. The room traders on the Stock
exchange were somewhat skeptical OF the
ADVANCE and contested IL by short sales.
There was evidence Of activity on the part
VI the .IeCeully QuleSCent POOLS and large
professional operators were supposed to
be at work to life the level of prices. United
states Steel was prominent and strong,
althought sluggish as usual.
satisfaction was professed over the status
OF the Venezuelan question and confidence
seemed to be felt in the money situation.
concessions In rates for time loans helped
this confidence materially. The s per cent
rate was shaded for any longer time than
sixty days. The continued downward course
OF sterling exchange gives rise TO a SUPPOSE
ton OF some special development In tina
field not yet disclosed. There are vague
juniors of blocks OF railroad bonds placed
abroad, although representatives Of large
railroad interests report that the American
market still offers the best field for railroad
bonds. The suggestion comes from Berlin
that foreign bankers co-operated with the
New York bankers pool In guaranteeing
the 5O,OOO,OW fund for the money market
to the extent of at least agreeing to refrain
from further contract of credit TO New
YORK. The large movement of currency to
New Orleans, 5000 % today, following large
shipments on Friday and Saturday, is sup
posed to be FOR the purpose of holding
cotton in that market in anticipation of
higher prices In January. The movement
seems to cause no misgiving, although II
seems likely to cut down the export move
ment of cotton and thus affect the foreign
exchange.
The bond market was broad and strong.
Total sales, par value, 5000, 900. United
states bonds were all unchanged in the
last call.
The following are the closing prices on
the New York Stock exchangeS'