Omaha daily bee., 1903-03-31
NEW X0RK STOCKS AND bonds.
Hopes of Rising Market Meet with
DisappOfntmcnt.

NEW YORK, March 8.-Hopes of a rise
In price of stocks today as a result of the
favorable bank statement OF Saturday
were disappointed. The. opening dealings
proved hat the Sunday intervals had re-
suited in an accumulation of selling orders
from various points. Apparently the banks
were not calling loans, put many brokers
tional marginu anu the increased demand
for call money which resulted ran the rate
up TO 5 per cent. Ihe hope that the corner
in the money market had been turned and
the comparative ease normal TO the April
period thus brought into immediate pros
pect was seen. to be without warrant and
disappointed holders threw over stocks
again all through the list. The decline in
tho first hour was not acute, except In a
recovery w. midday, but the demand fell
into almost complete staSnation at the high
level, offering no encoura5~ 4nent Tor the
bidding up OF stocks. Some OBSERVERS pro-
fesseu TO detect some buying tor invest
nltnt account at lower levels, especially of
Pennsylvania. There was alleged a.so to
he some demand oil this character for bear
account, but the effect on prices was not
visible. The break in Southern Pacific to
aroused u~neasiness as to the. position of
the pool in that stock and this had a de-
pressing effect on the whole list. The sup.
position that the leader of this pool has
embarked on a very extensive campaign for
the short account In the general market,
to recuperate losses believed to have been
suy,ained on the break in Southern Pa,
cihc, while at the same time attempting to
maintain the pool holdings OF Southern
racine, ClIeTS a SpeCIlallNe anomaly, the
possible effects Of which Wall streets most
.I4stiIods critics admit they are una ole to
forecast. The labor controversy with the
structural iron worRers was responsible
tor the sharp break in United States Steel
pref red. Inc advance I'm Manhattan on
the other hand, was due to a reported post
ponement OF the adjustment OF the labor
u4spu1e on that system. The late break in
New York Central was accompanied by
unfounded JUNIORS that the New Haven men
had gone on strike. The price touched 1870,
which is the lowest on the present move
ment. The furry TO 8 per cent In call
money followed and combined TO produce
the late break to the lowest point of the
day. The covering by room shorts lifted
prices a fraction, but the closing was IT.
Regular again and active. The loss by the
banks to the subtreasIry on Saturday of
nearly 100000 and the credit balances at
morning OF AC9,S1S revived the apprehen-
sion over the condition of banking reserves.
ne news that the treasury warrant for
t. relieve distress in the Philippines would
be received in New York failed TO Offset
the effect of the subtreasury's figures. The
dividend and interest disbursements for
April are unusually heavy because the
preparation for them helped TO disturb the
money market today.
The bond market was irregular but not
very active. Total sales, par value, 81. $780,
COZ. United States IS, coupon. advanced a.
the new IS \ and the old As y per cent on
the last call.
The folio wing are the quotations on the
New York Stock exchanges.