Omaha daily bee., 1902-02-19
NEW YORK STOCKS AND BONDS.
Market Turns Downward, and Level
of Prices Slips Lower.

NEW YORK, Feb. 1s.-The restrictive In
nuenee upon trading Of yesterdays storm
Ing was only about 500, 900 shares. There
was a show of strength during the morn
ing, hours, but II dwindled during the day
and the market generally turned down
ward. Some stocks which had the advan-
tage Of early advances did not suffer ma,
terfally on the day. but the general level
terday.
The disinclination to trade in stocks OF
the greater railroad systems and especially
those OF the transcontinental group, was
very marked Il might have been due to
the efforts making the revision of the
transcontinental freight rates, or might be
explained by the growing inclination to
preme court and a possible decision in the
northern securities case before venturing
upon speculative compliments in this
group of stocks which have so much at
stake In the decision of that case. Specu-
lative opinion Is In a perplexed state as to
the merits of the Metropolitan Street Rail-
way plan The machinery of the plan is SO
complicated and the bearings of Its opera
ton SO obscure that little can be made of
look askance at the securities invested
The interest Of insiders, in supporting the
Of the plan is obvious, but the price ran
on more than a. point in the late dealings
today; This had a deterrent influence on
of the weakness of A~malgamated Copper,
which lost rs on the days dealings.
southern r1uf Paci6 e, a ane e sTsaT W eov adSie
tIonal influences in the same direction.
The same development of interest among
Importance continued to be a feature, but
other stocks OF the same class recently
%Hs consp asTe tro IN RRS esdi1s Second 56uy Drs.
ferred and In New York, Ontario & West
ern. Lackawanna made a squirt of s points,
but. reacted 4. Profitable demands on the
coal companies are said to be more than
they can supply, and there are surmises
OF further Pr9Posed consolidation Of the
active and strong was the southwesterns
in spite of decreases in gross earnings for
the second week in February represented
by one of the member of the group. Ru-
mors are rife OF plans for financial con-
solidation In this group also. Wide gains
the last previous sales of which were many
months old in some cases.
The money market remained easy, but
confidence over its future is not fully as
sured. Sterling exchange advanced a frac-
ton here today and fell a fraction at Paris.
to Paris is very narrow and both these
movements tended toward wiping out the
market is an additional factor. This makes
1t possible that engagements of gold for
export on Thursday will be made tomor-
in the market was due in part to this de-
velopment. The closing was irregular, but
there were only slight rallies; a..
bulk of the bond market, but they lost
practically all Of their gains. Total sales,
were all unchanged on the last call.
The Commercial Advertisers London
financial cablegram says: The stock mar
ket was weak on the continuance of forced
sales OF Kaffirs by p~lungers, but the re-
sumption or the rise Is expected soon. In
vestment shares were dull on the announce
ment that the Leeds corporation is about
to offer the public a bond Issue of $4,000, 900.
The American department was the only
shares being hard throughout. New York
came a buyer of the low priced c~oalers.
London sold United States Steel, but Amer
lea absorbed our offerings. Rio tintos sold
at 45%. Money rates are unaltered. The
market was compelled to renew all bank
loans. The new Imperial Tobacco company
has been subscribed twice over.
The following are the closing prices on
the New York Stock exchanges: