Omaha daily bee., 1903-03-14
NEW YORK STOCKS AM BONDS.
Market becomes slightly More Active.
with Prices Inclined Upwards.

NEW YORK. March 1~3.-Sentiment In
Wall street took on a more cheerful tone
prices was in force. The movement did not
display much vitality and was mostly CEN
tered in a few stocks, especially the
Wabashes. 1t had for its principal basis tn
fact that professional traders found that
they could bid up prices above the existing
offerings brought out I'm conL equence. This
evidence Of the cessation of the pressure to
liquidate, which has been a burden on the
gence of a hope that the bank statement
tomorrow would be more favorable than
heavy drain this week upon cash resources.
The quietness Of the money market fos-
tered this hope. 1t Is unusual for the spe-
cial demand for loans incident to the carry
ing over Of stocks from Friday until Mon
day to cause a furry in the call loan mar
ket on Friday. 1t was feared that the
preparation for the payment of the 500, OOO,-
900 Of Standard oil dividends on Monday
would ~aggravate this tendency. On the
calm until ~ was paid in the last five
minutes. Traders were disposed to reason
ter h Supposed. It was Tns'S Considered d pos
sible also that the proceeds from the Stan
dard Oil dividend might be coming into the
newed of intended measures of money
market relief by the Treasury department,
washington Of J. p. Morgan Was for the
purpose of urging such measures. The pro-
posed measure took form In the rdmors of
NAC ANuCAAAPAAOA BAAOA W maui = VI AAAc
outstanding 5 per cent bonds of the govern
ment. This Issue, of which there Is $l9,-
8S5,0 still outstanding, natures on Feb
ruary !, 1904. The rumor met with den,als
in Washington. Much discussion was given
also to a report that both houses Of con-
gress would be called in extra session early
in the fall to ratify the Cuban reciprocity
treaty and also to act on the Aldrich tinan-
cial bill or some similar measure. The up
ward bound in Sugar was in response to
this rumor. The effect of these rumors,
which were all without verihcation, was
evidence of the primary Importance still at
tached to the money situation In the spec
ulatiVe outlook. A sharp reaction In the
London market after the recent violent ad-
vance was the occasion of some proft-tak-
Ing in Amalgamated Copper. This was
supported and did not cause more than N
decline in the stock at any time. The
pool interests to entoin the Union Pacific
from voting its holdings of Southern Pa
cifc and the granting of the injunction had
little effect on the prices of those stocks,
The reaction in the last hour seemed due 20
proft-taking on the days advance by room
traders, although the rise In the call money
rate to 6h per cent after noon was an
TO ~ per cent by belated borrowers just
before the close was not. given much sig
nihcance. The loss in cash to the subtreas-
ury for the week of 81, 100000 was offset by
the receipt of only a few hundred thousand
dollars of balance from the interior. If to-
morrow's bank statement accurately re-
fleets these movements in the cash item
there must be a loan contraction of up
ward of $12 100000 to have prevented inroad5
upon the legal reserve required of the
banks.
The bond market was dull and irregular.
Total sales, par value, S2,305, 900.
United States were Ill unchanged on the
io On osuo-r,no ~ ~ oIostoo nrto., -