Omaha daily bee., 1903-01-14
NEW YoRK STOCKS AND BONDS.
Market Reacts Again, bur
slightly and Closes Irregular.

NEW YORK. Jan. 13.-The stock market
made a further reaction today and was
heavy or weak during most of the session.
hour and closed irregular. The heaviness
of the market had no better explanation
tnan yesterday. Money advance from AZ
per cent at the opening to . per cent, but
no difficulty was experienced In. getting IL
and little attention seemed to be paid to
the money situation by the operators in
stocks. This was not true, however, of the
foreign exchange market and the anxiety
felt I'm regard 10 the DEVELOPMENT was due
of course to the probable effect on money.
Sterling exchange was in quite strong de-
mand today in spite of yesterdays heavy
export of corn, and good hopes of continue
anCe of this outgo. Londons operations In
stocks here were not on a large scale and
did not influence exchange. 1t is believed
that some bills are about maturing that
represent borrowings abroad for New York
account during the money stringency here
last month. There is a likelihood also that
there is some accumulation OF eNchang to
provide payment for French rentes' for
which there is said to be some present de-
mand on account of the American insur-
ance companies.
The effect in Berlin yesterday OF the fore
Swallowing of a German loan was duplicated
I'm London today by the e1pectance of an
early announcement of a Transvaal loan.
These government operations are the prob
able explanation of the hardening OF the
money rate, and II Ia believed that our OBJ
legations to foreign money centers are still
sufficient TO permit them to draw gold
from us in case of neeu. This prospect
would have a natural tendency to check
wholesale commitments IN speculation LOT
a rise in New York. But yesterdays dis
appointing response from the general pub
lie to last weeks considerable and inviting
rise served to admonish the managers of
the advance hat little was to be hoped for
yet from the public in the way of absorb
ing securities which still remain I'm the
hands of syndicates and promoters. Re
newed strength in Erie and st. Paul this
morning and vigorous support of Reading
seemed to be designed to reassure specu-
lative sentiment, but when 1t was perceived
that advantage was being taken OF this
sustaining influence to effect large selling
of Rock Island the selling was renewed
throughout the list, and there was no i'm
portant recovery until the last hour, when
Manhattan was lifted 2 points over last
night and Erie was run up again to the top
level of the morning. Contributory causes
to the heaviness were the steps taken In
congress to investigate the coal supply
fears of damage to earnings of railroads
by snow blockades and broad intimations
that no immediate dividends are to be ex-
pected on Colorado Fuel. Practically all
leading stocks were a point or more below
last night at one time and not all of them
fully recovered on the late rally.
Bonds were moderately active, but were
irregular. Total sales, par value, E,01O.OOO.
United States seconds, old Is and 5s ad-
vanced a per cent, while the 3s coupon de-
clined a and the new 4s coupon y per cent
on the last call.
The following are the closing prices on
the New York Stock exchange;