Omaha daily bee., 1903-01-08
NEW YORK STOCKS AND BONDS.
Market Reacts when Holders Seek to
Realize Profits.

NEW YORK, Jan. THE stock market
today. had a reaction. which had been
s G0Sep eiIgermslG Of Tabsy g Toyg oG 9f The me p expes-
tation was that since the middle of Decem-
Der fully half of the previous violent de-
cline, which had extended irregularly over
six weeks, had been recovered. This re-
covery has been practically Uninterrupted
which is unusual in such a short and vio-
change in conditions effecting values since
yesterday, when the market was buoyant
and animated up to the very close, but the
heavy buying which has been going on
meant a large increase in the number of
holders waiting. to take profits. The offer
ings of THIS class overcame the market
TO-DAY and carried prices to a lower level.
The disturbance in foreign exchange sentl-
ment by the Dardanelles protest of Great
stocks at the opening. The selling for Lon
don account was heavy. The Of
its volume vary considerably, some of them
running as high as $1,000 shares. This first
pressure upon the market was strongly re-
sistedN and pretty general recoveries were
effected within a few minutes, but realiz-
ing sales continued large at the rally and
the market gave way again. Some subse-
Quent efforts were made to revive the mar
ket by bidding up individual stocks, but
the selling was renewed on all advances
and the closing was weak at about the
lowest. A late break in st. Paul to below
81 wac an effective influence on sentiment.
In the early dealings support was conspic-
uous in the Goulds, including Manhattan
and Rock Island. The statement OF the
gtaAAR ~ u ms VI ~ oN0ANS
induced some large buying OF. the stock,
but 1t suffered eqjally with others In the
realizing movement. The official statement
that the rumors of a coming dividend on
Tennessee Coal were unwarranted had an
unfavorable effect on the foreign group.
American Car, however, got up a point on
the strength of It's dividend increase and
favorable showing of earnings. The dec
laration in Governor Odell's message IN
criticism of the franchise tax had some
favorable effect upon the stocks of cor
porations effected. The advance in Sugar
was accompanied by rumors of a proposed
dividend increase. and this stock was up
ket. The proposition for practically doub-
ling the stock of the Pennsylvania railroad
movements in some of the less active
stocks, including gains of 32 each In Hook
ing Valley and Chicago Great Western pre-
ferred and OF 10 in W~ells-Fargo. The sell
ing was attributed in some quarters TO a
get as. high as 6 per cent At any time, and
Increasing lberality was shown by tenders
in the matter of collateral. The money
market continued to gain from the sub
treasury, which had another payment of
$250,0O0 today by transfer from San Fran
cisco. The downward course of discounts
In London was arrested and sterling eN-
change rates here were slightly higher, the
demand being augmented by the large sell
ing of stocks for London account. London
money supplies are much reduced by re-
payments to the Bank of England. The re-
action In the copper market became irreg-
ular in sympathy with stocks. Total sales,
par value, SO, 900.
United States bonds were all unchanged
on the last call.
The following are the closing prices on
the New York Stock exchange;