Omaha daily bee., 1903-06-13
NEW YORK STOCKS AND BONDS.
Active Buying Continues, So that
Prices stiII Continue 20 Soar.

Active Buying Continues, So that
Prices StiIl Continue 90 Soar.
NEW YORK. June l2.-There was a con-
tinuance today of the active buying which
developed 50 suddenly yesterday morning,
higher level throughout the list on deal
ings of over 1,0O0,0OO shares. The market
closed active and firm at near the top
level, profit-takng on the considerable rise
making an Insignificant impression on
prices. The large demand this morning
trading OF the first hour was within a
fractional range of fluctuations after the
opening advances. The confidence with
which these offerings were absorbed en-
showed signs of being satisfied at times
during the day, and there were lulls In
the activity of the market with fractional
recessions in prices, but no important pres
sure to sell developed at any time during
the day and the bulls had the situation
completely in hand. considerable part
of the demand came from the short interest
which had failed to cover yesterday In the
hope of a reaction from the first rebound,
or which had put out fresh lines to con-
test the recovery. There was some cover
Ing of short lines of older standing, as
well, which were put out earlier In the
stock market reaction, and which have
remained uncovered through the occasional
rallies. This demand and some buying of
belated investors, which was significant of
the cooling of confidence with the turn In
the market, is something more than tenn
porary.
There has been a recognized waiting in
vestment demand which has held bach
from buying on the principle that so long
as the market was going down they might
get stocks cheaper. Thursdays sudden re-
bound deprived this element of its oppor-
tunity to buy stocks near the lowest but
there seems to have been some buying OF
this character today. There was evidence
also of some new speculative ventures on
the long side and of renewed activity by
organized pools in certain stocks. The
dealings in Reading were on an extraordi-
nj uvnC in 4 q
In the late dealings. helping materially to
sustain the late strength of the market.
the coal carrying companies to refuse to
comply with certain demands for informa-
tion by the Interstate Commerce commits
sion was the nominal basis for the rise.
Rumors were circulated also of a very
strong showing of earnings for May to be
shortly published. The Baltimore & Ohio
May statement, showing more than two
thirds of a handsome increase in gross
earnings preserved for the net earnings,
made that stock and those af1liated with
Pacifics and St Paul were in large de-
mand and there was some disposition to
attribute the strength of the Gould group
to vague suggestions that the heavy accu-
mutation of Pennsylvania on the decline
had resulted in sufficient holdings to Sc
cure representation in that company for
currency movement indicated a sufficient
balance OF receipts from the interior to
Offset the loss to the sub-treasury. and by
gold exports and an additional yield and
Increase in the cash reserves of the banks
of nearly s2,O0O,000. 1t is hoped that the
heavy LIQUIDATION early in the week will
be reflected in a considerable loan con-
traction. Sterling exchange continued to
recede, but an additional engagement was
made of gold to go to South America.
ments are to be made OF the so per cent
installment of subscriptions to the new
Pennsylvania stock Issue. This will call
| for the payment of $i5.000,0O0 on or before
June q. Large portions will be paid In
Europe and in Philadelphia. and it has
| been officially intimated that the Droreeds
| will he used for renayment of the $40. 000. .00C
| loar tnken on nv Tho Pennsylvania for six
months last January
Bonds advanced in sympathy with stocks
| Total sales, par value, $2.S35,o o00 United
| States 2s coupon. declined " and the new
| Is n Der cent on the last call
Following are the quotations on the New