Omaha daily bee., 1903-04-01
NEW YORK STOCKS AND BONDS.
Market Seems Inclined to RecOver
hut HcsItates Before Acting.

NEW YORK, March S1.-The stock mar
ket showed q rather hesitating and irregu-
lar tendency to recover today. The move
ment seemed based upon an assumption
that easier money conditions will follow
the arrangement of the April settlement.
The immediate money market was still
under the Influence Of the preparations for
the settlements and call loan rates were
very stin all day. Tn subtreasury state
ment showed the banks have lost to the
institution since the last bank statement
u, AS COO, and there was a small credit bal
ance In its favor at the clearing house this
morning. but the governments draft for
100000 was presented at the subtreas-
ury during the day by it's fiscal agent and
was paid out in cash for disbursements
through an Oriental bank. is able to dis
pense with a recourse to the exchange mar
ket. The effect is to benefit the New York
money market and cffset the previous alb
sorption by the subtreasury. The payment
over the counter of the subtreasury serves
also to allow the amount 10 figure In the
average of the reserves of the banks for
one more day than would an ordinary sub
treasury operation, The disbursement Of
the government interest payabl on Apri
/, will further relieve the drain into the
subtreasury. Foreign money markets
easier conditions and discounts were quot.
ably lower in Berlin and London, the pub
lished opinions of a leader in the financiai
world expressing confidence in the dura-
ton of prosperous conditions and faith In
the soundness of securities which remains
to be digested in the market were much
ulSObEEGds L 10 ilON OlO GAl ldCNOi
which is as potent in causing disquiet and
hesitation over the financial outlook as the
existence of this mass of apparently un'
salable matter In the market and the meas
uros necessary to protect these holdings
are undoubtedly the cause of constant
liquidation OF securities of the highest
grade. The proclamation of faith in the
new securities by a well recognized au'
thority on values therefore had a marked
effect on sentiment. There were occasiona
Interruptions to the advance, the mos
notable occurring after the strong opening
when a general attack was made on the list
Sugar yielded easily by reason of the re-
duction in price of graduated grades, anC
the violent break in the London copper
market. Later the Wabash securities wert
sold on account of the proposed i 100000 0
bond issue. but the weakness of this grade
shaping sentiment as the evidence tina
support was offered New York Contra
Pennsylvania, St. Paul and the high grade
railroads stocks. Doubtless a demand Il
cover shorts played a part in the strength
but concession OF liquidation in the hIgl
grade investment stocks afforded great re
relief to the sentiment of depression latel!
prevalent in the market, The nurries in tn,
call money market interrupted the advance
but did not cause weakness, Call none!
rose to Is per cent In the last hour, blu
the temporary chick to the advance wa.
followed by the renewed strength and tn,
close was active and strong at about the to-
level. The days gain reached 2G2h point
Tor ST. Paul, New York Central and Uniol
Pacific. which were the most conspicuou
stocks in the rading. Gains of a point o
more were numerous.
Bonds were steady and not very active
Total sales. par value, $3.50, 900. Unite,
states old Is declined Ac and the rs regis
tered ard the new As coupon 1ac per cent o
the call.
- o.-zlr A-,han4o