Omaha daily bee., 1903-04-25
NEW YORK STOCKS AND BONDS
Dealings Fall Back Again to Low
Level Ruling in Old Home.

NEW YORK, April A.-Dealings in stocks
fell back again today to near the low level
OF the year, partly as a result of the dis
appointment of the professional trading
elemen over the failure of the removal to
the new Exchange building to stimulate
activity yesterday. The falling of in deal
ings was attributed in part to the Danish
mont from the board room Of a class of
traders who formerly had the privilege of
admission 10 the lobby OF the exchange for
the purpose OF directing their trading over
the railing. 1t is evident, however, that
ket for the present. SO long as this condi-
tion persists professional operations are
likely to prove futile in effecting any wide
days market was only equaled by its
inertia. Only a half dozen stocks OF any
from last nights level at any time. The
sluggish course of the market was down
ward early in the day, largely through in
the disapproval Of the newly inauglrated
freight rates from Chicago to New York
on the part Of the Interstate Commerce
to the advance In freight rates as an offset
to the large increase in cost of operation,
which has produced the recent downward
tendency in the net returns from the trans
portation Industry. The fact indicated by
freight b~lockades and embargoes or the
freight movements that the railroads Of
the country have all the business they can
accommodate give little hope that lower
Tates woulo prove OF advantage by attract
ing additional business. The rise In freight
rates has been so general that II is feared
the decision of the m commission is
preliminary to similar action toward other
roads. Some disappointment was caused
also by the failure of the British budget
proposal to help American stocks or the
American grain market. The reduction of
the income tax, it was argued, would in
crease the supply of capital seeking invest
ment. The remission of the corn duty
failed to Induce any large export demand
for grain in this market. There was selling
Of stocks for London account. There was
also a strong tone in the sterling exchange
market and an advance to within meas
urable limits OF the old export point. Later
in the DAY the forecast Of the bank state
ment had a stifening effect on stocks. The
various estimates of the weeks rain in
cash changed from 5000, 900 to $1,000, 900, OF
which $2,9S5,OO0 comes from subtreasury op-
erations. The progressive ease OF the money
market confirms a promise that. the posi-
ton of the banks had been much strength
ened. Reading was run up a point on
account OF the testimony OF the president
of the company before the Interstate Com
merce commission. The notable advance
in the silver market was the basis OF large
buying OF Mexican railroad stocks. owing
to the increased exchange value Of Mex
lean money which results. Amalgamated
cooper suffered from the weakness OF the
copper market. The market closed In.
tensely dull but fairly steady at the late
recovery,
There was some continued demand for the
newer Issues of railroad bonds. Otherwise
the bond market was irregular. Total sales
par value, $2,0S5,O00. United States bonds
were all unchanged on the last call.
The following are the quotations on this
I New York Stock exchange.