Omaha daily bee., 1903-06-17
NEW YORK STOCKS AND BONDS.
Prices FIuctuRte AIarminEly, Conspir-
ing for Raise Causing Final Break.

NEW YORK, June 16.-A comparison Of
today's last prices with those Of last night
gives no idea of the wide fluctuations in the
days market. The principal speculatons
this morning were from 1 to over points
lower than last night and within n range
running from fraction to between IL and
points OF the low level touched on Wednes-
day last In many cases. The days
movements while generally small, there
fore represent a substantial recovery from
the low point of the day. But when It was
attempted to rush prices up late in the day
to much above last nights level. pressure
to sell was renewed and prices again fell
back. The closing. however, was firm, but
very dull and near the top level. The infer
ence drawn from the action of the market
was that spectators tested the market on
the short side and encouraged resistance in
a substantial buying demand. The buying
by the bears to cover was a substantial
element in the rally and when the attempt
was made to carry the movement further
pressure to sell was again encountered. In
addition account must be taken OF what
looked like further liquidation during the
early hours this morning, the weakness of
yesterdays market having awakened fears
that a further extensive decline was in
prospect. 1t was evident also that when
prices approached last weeks low level
buying of an investment character again
came Into the street. The deduction drawn
by the average operator at the end of the
encounter substantial buying power and
that the liquidation in vidence last week
was no longer over hanging the market.
Attempts to bull the market seemed to en-
counter heavy selling at the high levels.
The prospect thus Indicated of a dull and
sluggish market is viewed not without
satisfaction in financial circles generally.
That the resources which have been ac-
cumulated by such a painful process or
liquidation should be put back into specula-
tive use with the needs of the coming
autumn still to be met is a course gen
orally disapproved by bankers and those
with large property interests. During the
early decline today the suspense over the
probable decision of the coal miners con
vention was of important influence. Inc
| financial action by the convention ana the
apDarent improvement in feeling of the two
sides to the controversy which has resulted
| from the incident is regarded with vast
anxiety expressed over the crop news our
| ing the early part of the day, but the
| weekly crop report and the reaction IN
| wheat and cotton served to relieve TINS
weak and rumors of possible reduction IN
| the dividend continued to circulate: Inc
payment of an installment OF the subscrlp-
| tion on the consols issue, calling for Sl5'-
/ 0O0 On0 in the London market added to the
depression there and was renecteu mere,
| Sterling exchange also ruled strong, with a
threat of further gold exports. the recrl-
limitations incident to the lawsuit over me
| United States Shlpbuilding reorganization loi
and the tone of the testimony In the SUIT
! against the lease of the Metropolitan Street
| Raiivav nv the Interurban company were
| the subject of discussion IN Wall street anu ah
| caused a very favorable impression N tne
market The suicide OF one OF tns naIIir,s
| of stocks but the prompt assurances Una.
| no financial Irregularities were lnVolVeo
took away that effect ThG Thalgamsted Teaqoa1d in
| the early dealings but the later announce
| ment Of a further cut in the price OF pig
| iron did not interrupt the late recovery OF
'iIs Ronds showed early weakness and recov-
| cred in sympathy with stocks. Total sales'
| par value. $2,320OOO. , =, - .ou+
on Following eirI are the quotations on the New