Omaha daily bee., 1903-05-20
NEW YORK STOCKS AND BONDS.
Optimism Leads to Good Recovery in
DemornIiHed PriceH.

NEW YORK, May 19-Today's recovery
in the stock market was in accordance
with the expectation of the majority of
professional traders. This expectation
conducted materially to the recovery by
restraining the professional bear element
from further attack prices. Yester-
days rather violent declines and the in
crease in the volume of trading over the
recent average of the market gave the i'm
preston of a elimination Of the decline
There was some further decided liquida-
ton in the market this morning, but the
professional bear element availed itself of
this opportunity to cover their outstanding
short contracts. There was evidences OF
support also, presumably by those inter-
ested in sustaining values, especially in st.
Paul and New York Central The. recent
supported condition of the standards has
had dominant influence on the whole
speculative tone and this mornings indi-
cations that the further decline was to be
contested helped decide the bears to cover.
The long continued decline offers attractive
profits from the shorts regardless of opin-
ions on the further speculative outlook.
The professionals, therefore generally
turned to the buying side, covering their
short contracts, going long in the market
and then working for further delay. There
was very little news TO account for this
change in sentiment, the general conditions
of a doubtful labor outlook prospects of
tions which have caused the recent depIes-
sion being unchanged. The market proved
Tor rise effectual. But the market "bulled
hard" in the stock exchange phrase and
ran on quite easily at the last leaving only
were not entirely wiped out. On the labor
subject there were reports of disputes in
the works of the general electric, republic
steel, Peoples Gas and Allis- Chalmers
works. But the rumors prevalent of a set
tlement of the Union Pacific, labor dispute
had a prevailing effect in the market over
the other reports. The rumors with the
report of the decided improvement in the
condition of E. H Harrlman's health were.
made much of in the buying movement.
So was the weekly crop bulletin of the
weather bureau, without much attention
to the varying showing i'm the territories
of different railroad systems The general
ly encouraging reports were given to the
winter wheat crop in the western states
were given more attention than the con-
tinued delay in the planting of the corn
crop and the rather unfavorable view ex-
pressed OF the cotton project. The sudden
relapse in Louisville q Nashville at the
last which more than wiped out its gain
may have had to do with the cotton show
ing Another rumor which got afioat on
the tide of the days advance was an al
tary OF the treasury to anticipate the re-
demption OF the per cent bonds which
mature next year. No color of authority
was obtained for this rumor Sterling
of bills was scarce, leading to the expecta-
ton thai further gold would go abroad
with the first available shipping facilities
Sterling at Paris rose a fraction but did
here Money here continued easy and there
were reports of seven months loan at Al
which rate has not applied hitherto this
| season for longer periods than six months.
United States Steel new fives were actively
| traded in and huctuated over a range of
| a point closing with a net gain OF q. Other
wise the bond market was irregular. Total
sales par value $S,S25 900.
The following are the quotations on the