Omaha daily bee., 1903-01-01
STOCKS AND BONDS.
Year Closes with Confidence Reigning
at New York.

NEW YORK, Dec. 31.-The year closed on
the Stock exchange with a very confident
sentiment predominating. During the first
two hours of business the aggregate sales
reached a larger figure than In any similar
period for many months. the total reaching
to nearly 10000 shares. During the latter
half of the session trading was much in
terrupted by the New Years celebration of
the Produce exchange on the neighboring
floor, in which many members of the Stock
exchange participated, while the spirit of
preparation for the Stock exchange frolic
was also in the air. The taking of profits
on the two days rise made considerable
impression on prices during the final hour.
SO that some conspicuous stocks lost all of
their early gains.
The great central factor in the days mar
ket was the safe passing of what has been
considered a danger point in money affairs.
The fact that New Years day has been
reached without money embarrassment is
taken to demonstrate the success of the
plans made for meeting the extraordinary
requirements upon the money market at
this season. For the moment the possible
future requirement to be met by reason
of extended loans and deferred payments OF
obligations is lost sight OF and confidence
Is general that the normal relaxation In
money rates will follow the turn of the
year.
Current reports of railroad earnings also
show a larger ratio in gross earnings, rails
ing the hope of an improved showing In net
returns.
The yearly reviews now appearing of the
closing years extraordinary prosperity had
a strong sentiment on speculation and the
government's estimate of the very large
cereal crop gave substantial ground for a
hopeful feeling lver the future. OF the
day S special developments the maintenance
of the Z per cent dividend on Delaware q
Hudson stock was a reassuring factor, es-
pecially in the case of the coalers. That
group, however, was affected by realizing.
The rise in the price of copper had a gen.
orally favorable effect besides its influence
on Amalgamated. The railroad commits
sion's intimation hat it had a plan for i'm
proving the handling of congested traf1c on
the local street railways induced heavy
speculation in Manhattan. Brooklyn Tran
sit was held back on account of the pre-
sentiment by the Kings county grand jury
condemning its car service. A feature of
the day was the diligence with which all
classes of stocks were bid up so long as
offerings continued light, A number of re-
cent Rotations which have been practically
dormant owing to the tight money market
were vigorously advanced. Examples were
United States Realty and American Steel
foundries and on the curb international
Marine (when issued) The money market
continued stiff today, but eased OF In the
hate transactions. The trust. companies
pletion of bank reserves seemed to be still
AT work. but all such considerations were
ignored in the almost exultant confidence
expressed by the stock operators that the
turn of the year will see the end of their
money troubles.
The bond market was broad and active
and MADE general advances. Total sales,
par value, $2,345.O 600. United States bonds
were all UNCHANGED on the last call.
The Glowing are the closing prices on
Tho NaU York Stock exchange: