Omaha daily bee., 1903-01-20
NEW YORK STOCKS AND BONDS.
Neither Buyers Nor Sellers seem In-
cIined 10 DO Business.

NEW YORK, Jan. 1g.-The scant orders
to buy stock found in brokers' offices this
morning Indicated the indifference of the
public to the stock market. The Monday
market is the most active of the week as
a result Of the intervening holiday and
the natural tendency to enter on new ac-
tivity with the turn of a week. While to-
days opening declines failed 70 show any
buying demand from outside sources. there
sequence was the same ~listless and indie
terminate movement manifest last week.
The speculative pools also desisted from
activity, since last weeks transactions had
pretty well demonstrated the futility of
their efforts to attract a general demand
for stocks.
The Saturday bank statement, while IA
vorab!e on It's face, gave evidence of the
requirements upon the money market, re-
sulting from the Reading deal, and was
accepted as a warning that the resources
of the money market as they became re-
plenished are likely to be drawn upon by
syndicates for the pushing OF projects held
in allegiance. The realization of these de-
terred projects oVerhangtng the market
had a depressing infiuence in contrast to
their highly stimulating influence a few
months ago. This prospect of syndicate
requirements for money was enforced In
its influence by a somewhat firmer tone In
the money market and an advance In
sterling exchange toward the gold export
point. The rise In sterling at Paris served
to neutralize the advance here, but the
movement Of gold this winter Is probable
The announcement of the terms of TIE
cunning lTdnSNddl loan ant the pIODdbNe
requirements for the Panama canal pur-
chase are confrmatory to this view of
immediate developments. The reports OF
car shortage and inability to move freight
offered was not a favorable influence. The
resulting delay in the grain movement is
likely to affect the return flow of cur
rency. The shutting down of work on &C
count of coal shortage was also accepted
as unfavorable. Secretary Shaw's order
requiring the Redistribution of government
bonds for other securities deposited against
government deposits was regarded as max
ing necessary a contraction in note circula-
ton by the banks.
Amongst the few movements of stocks
worthy OF mention that in Chesapeake &
Ohio was the most conspicuous. The buy
ing was based on an assumption that part
of the Pennsylvania's new capital would be
devoted to adding to its holdings of Chesa-
peake & Ohio. Amalgamated Copper was
affected by a surmise of new steps OF con-
tending interests in the cope trade.
The rise in Great Northern preferred was
supposed to be connected with the return
to he east of the president of the road.
Missouri Pacific was helped by an increase
in net earnings for
The whole market gave way in the late
selling movement and closed easy. Rock
Island led the decline, but losses OF from
/ to ia points were made by many OF the
leading stocks.
Bonds were irregular. Total sales, par
value, s.. S30,000 United States 3, registered,
advanced Is, the registered IS II and the
old As, registered, q per cent on call.
The following are the closing prices on
fba Naw Work. Stock exchanged.