Omaha daily bee., 1903-02-11
NEW YoRK STOCKS AND DoNDs.
Market opens with some spirit. bot
Grows Ren~ctionnry Closing Lower.

NEW YORK. Feb. lO.-The spirited
strength and activity with which the STOCK
and the lone of the market became grad
ually more reactionary. and at last easy
at general declines running to a point or
more in a few 'activv stocks. The most
prominent OF these was Wabash. IN which
led the strength. This fact made the spec
u.atiyc sentiment peculiarly susceptible 70
the fact which became very obvious this
morning. that there was very large sell
ing going on Of Wabash preferred under
cover of the new strength which Il was
sought to develop elseM mere. Inc sEapi-
cion got abroad that the apparent active
demand for these stocks anu the show OF
strength which this gave TO them was due
rather to skillful manipulation by the spec
ulative pools having them In hand than
to any sudden realization OF their value at
present prices on the part or the wide
spread public demand. The whole move
ment of the day was strictly technical, and
was little Influenced by the days news.
The size Of the individual orders In Rock
Island for which the accepted unit seemed
to be 1000 shares gave ar ARTIFICIAL APP
p~earance to the movement In that stock.
that IT had little impression on sentiment
when II was moved Upward, In tace OF
the general reaction which took hold of the
market during the second hour. The sup
port OF Missouri Pacific had no better
success in restoring the tone OF the mar
turn In the advance, and among the spe-
cialties Amalgamated, Peoples Gas, Brook
Ign Transit and American Smelling were
conspicuous. Sterling exchange continued
to advance and London to sell stocks here,
but these factors were no mare prominent
than during yesterdays strong market.
Call money continued easy, ar: an advance
I'm sterling at Paris sufficiently offset the
rise here to keep gold exports beyond
profitable limits. The subtreasury took
nearly S~l,5O0.OO0 from the banks on yes
terday's operations. wiping ont the previ-
oIs gain from that institution and estab-
lishiuE a net loss of S442,0OU since Friday.
These figures caused some calculations to
be made on another unfaVorable bank
statement for the week, but call loans were
at a lower average than yesterday, and
there was increasing ease in securing
by the chairman of the nance committee
OF the United States senate for liberaliz-
Ing the conditions for the deposit of Uni
ted States funds with national banks was
considered an important influence i'm the
opening strength of the market. The ac-
ceptance of other than government bonds
by the secretary of the treasury last fall
lieved to have been the saving factor dur
ing the money stringency. The provision
allowing the proposed Panama canal con-
structiOn bonds to rank Will the 2 per cents
as security for deposits, ans circulation
Will afford another important measure OF
relief from possible money stringency.
The coming requirement for the payment
shareholders make these means of relief
of special Importance. The approach OF
the Thursday holiday may have had its
influence upon the realizing movement OF
tho day.
The bono market continued irregular
Total sales, par value, $3,5S0,OO0 United
States new Is registered and the 2s declined
"a on the last call.
The Following are The closing prices on
the New York stock exchange: