Omaha daily bee., 1903-04-16
NEW YORK STOCKS AND BONDS.
Business Nearly staEnant, Barely Half
Million shares CHANGING Hands.

NEW YORK, April 15.-The notable fea-
ture of today's stock market was the de-
cided drop in the volume OF business. Ag-
gregate sales for the day barely reached
OC0,O0, compared with over S0O.UO0 shares
yesterday and 1,25O,O0 on Monday. There
was some demand to cover short contracts
today, but there was also evidence of l,qut-
dat on of a substantial but not at a a
pIecipitate character. As prices reached a
higher level there was the inevitable SELL
ing which always follows a violent decline
by lucky traders who got Ia at the bottom
and are quick to take profits, and also IN
the part of the buyers OF u more infueatia.
character, Who bought on the decline 10
support the market and to reassure senti-
ment, with the purpose of preventing need
less sacrifice of values. There was a .args
amount of this kind Of buying on Mend y
and yesterday morning during the s,ruggls
to turn The market upward. The fact that
Northern Securities on the curD, although
quiet, ruled at q level below last nights
c.ose all day was an additional incentive to
caution on the long SIDE. Nevertheless,
there was considerable buying at different
points in the list of seemingly good CHI tr-
acter and based on individual causes. Mis-
souri, Pacific was we'll taken all day on its
report OF net earnings for February. show
ing an increase over February of last year
of 50 3,7i6, VIII oh is no less than 70 per cent
increase. The other members of the Goul /
group moved in ymp ny. Baltimore &
Ohio report for March showed an increase
In net earnings of "a per cent and was
freely bought In consequence. Norfolk &
Western moved uL In sympathy anu was
helped also, on rumors of a proposed In;
crease in the dividend rate. The annual
meeting OF. the New York Central stock
holders without any action toward the ne "
stocK issue and without anything TO con-
firm allegations of a cnange in control re-
lieyed some anxiety and nad a favorable
influence. Among the industrials Sugar hal
the advantage of an advance I'm IN Re
lined product. Ice prefer. ed reflected reports
of an acquisition in Baltimore, Metro. OIL
tan STREE Halfway responded 10 rumors
that the question of Investigation of it's
finances by, the local municipal authorities
was decided In the negative, an advance in
the London copper market helped Amalga-
mated. LiVerpcoi operations were mani
lest in United States Leather stocks. A
lumber or the iron and steel industrials
were incl ned to advance also. The tone o.
the whole market changed late in the cay,
news that the demands of the employees
had been refused! The general market re-
aGtea ana IN many cases feli below last
being notably affected. Among inactive
stocks there was a drQa OF q points in
points in Fort Worth & Denver city
stamped.
The money market continued to work
subtreasury is contributing largely to the
local money market by reason of The m
crease in refunding operations, and the rate
flow of currency TOWARD New York. There
was a stinening OF foreign exchange rates,
however, and an advance In discount rates
both in London and Paris. Discussion con-
tinues very active over the possible bear
ings of the Northern Securities decision
and the probable steps VIII CHI will be take
in the event OF the dissolution of that cor
poration. The extent to which the North
ern securities have been distributed and
the consequent dissemination OF holdings o
Northern Pacific and Great Northern stock
which would result from an exchange for
outstanding Northern Securities stock was
a subject OF special interest in the discus
sion Today, as was also the probable ac-
ton to be taken on the quarterly dividend
on Northern Securities. the regular period
for which is now imminent.
Bonds were firm for the most part. al.
tnough there were some recessions on the
late reaction in stocks. Total sales. PAL
value, S2,195,0O0. United States old As de.
clined y and the new 5s advanced u on tn
iast call.
The following are the quotations on tn,