Omaha daily bee., 1903-02-05
NEW YoRK STOCKS AND bonds
Market shows strength in spite of
PrnfcnaInnn CnntrnI.


NEW YORK. Feb. A-Yesterday's level
Of e, uyi,y. s,utAs was pretty well main
tained and there was evidence Of consider
able strength In the market. The opera
lions seemed to be confined still to profess
sional hands, but the leadership was ag-
gressive and better organized than for some
time past and there was evidence of the
control of large resources by those opera
lions, 1t was the theory OF the board room
operators that the action OF the market
was largely due to the foregathering OF a
number of well known stock operators at
a southern resort abunda ltly supplied with
special wire service. Included In the gather
Ing is the operator whose name has been
associated with the principal stock market
sensations for many months past. What
ment was spotty and irre gu and the
earlier movements were not well main
tained. The operations In Reading were on
a growing scale during the day and 1t be-
came ensily the leader of the market in
the late dealings with a rise OF over Z points
above last night. There was no. news to
explain the movement beyond the heavy
earnings known to be accumulating In the
treasures of all the coal carrying railroads.;
Announcement was made TO-DAY on several
postponed steamship Feilings on account OF
delay in securing coal. This was accepted
as illustrating the universal pressure for
this product. Whatever the advantage of
such a condition to the coal carrying rail-
roads. II was not considered favorable to
the Industrial situation at large.
Semi-Of1cial confirmation was given to
the report that the Union Pacific and Rock
Island mad been brought together In some
sort of an agreement assuring mutual. a0.
vantage by interchange of traffic. Nothing
could be learned as to the scope of the
agreement, but the report was accepted that
a substantial step In tie community Of inter-
est was taken which will avoid furture dam
aging competition. The publication of this
report was probably the the cause of revived
rumors that the proposed merger of Gould
railroad properties was almost ready for
announcement. The stocks OF various COM
panies, affected by these rumors, were not
amongst tho speculative leaders of the
day. There was an opening squirt In Rock
Island, but the stock fell back almost i'm
mediately ard was more steady for the
rest of the day. Union Pacific was firm,
but not active, and Southern Pacific rose
d point in the late dealings. The rise In
st. Paul was supposed TO be traceable to
the same source as that In Reading.
The strength in Erie common was My
moderate, but the preferred stocks, espe-
cially the second preferred, made better
advances. Amalgamated Copper continued
to rise on account OF the better sentiment
In the copper trading.
Yesterdays sudden movement In I lited
States Steel stocks was not follov d UP
draS. This fact and the failure of the
Rock Island stocks to retain their opening
gains threw the market into hesitation
and uncertainty. but the rise In Reading
and gains by a miscellaneous assortment
of minor stocks had a somewhat reassurlnS
effect.
Money continued easy and exchange firm,
without affecting the steel market. The
} closing was quiet and steady.
| value. So AIS, coo. United States 20 declined
u per cent on the last call.
The following are the closing prices on
the New York Stock exchange: