Omaha daily bee., 1903-03-19
NEW YORK STOCKS AND BONDS
Market Hardens Slightly, but Not
Sufficiently to Aid Spectators.

NEW YORK, March 1S.-Stocks showed
some hardness today and hopes were in
dulged for a rise by a considerable specula-
tive party which is watching the market
closely for a recovery when the interior
begins to send back funds to New York and
money becomes easier. The few scattering
indications OF a relaxation of the money
market did not appear SUFFICIENT to induce
buying much beyond the ranks OF the
professional shorts, who have been some
what uneasy over the cessation OF the
liquidation in stocks and show anxiety to
cover their shorts. The cessation of the
recent persistent selling of New York Cen
trail and Pennsylvania was a particularly
favorable influence in a negative way.
The advocates of higher prices stand in
dread of obstacles to be encountered In the
way of selling orders on the part of the
persons who are tied up In unmarketable
ventures and who may desire to realize on
securities with an active market to protect
i Inem in t6e Year # has been feared that
the recent selling of Pennsylvania was for
the purpose of making gocd losses sus-
tanned In a project that has come to grief.
The recovery in those two standard rail-
road stocks is therefore of great senti-
mental influence on the market.
Money conditions are undentably less
stringent. The doubt is how far this is
due to the liquidation of stocks and the
market, and also to the transfer of eb-
legations to foreign creditors whose de-
mands for reimbursement must be met In
the future. The advancing course OF for
eign exchange is a significance of the pres
emit borrowing from foreigners.
Inc EuDATNdSuTY yNsltIudN HldhS dllONhtl
small contribution to the local money sup
ply. Interior banks for some time past
have arranged as far as possible for all
| obligations to the government to be paid
to the New York subtreasury by draft on
the New York banks. The lessened re-
quirement of the government institution
may be accepted in part as a more com
plant attitude on the part Of the interior
money centers toward New York,
OF today's special that in the
coalers was due to gossip that the report
| of the anthracite strike commission, pre-
TO be favorable to the companies. The
influence of the sugar advance also came
largely from Washington and dealt With
the Cuban reciprocity treaty. Buyers OF
Tennessee Coal and Iron professed to have
m of very large current earnings.
Corn Products was bought on the de-
claration of its first dividend. Southern
| Racifc furnished the only sensational fea-
ture of the day. There was heavy buying
I of the stock in the last half hour. which
cerried the price up . points, the net gain
being only a fraction under the top hgure:
The stock loaned at a premium of 1sc and
there were rumors of important develop
{ mants in connection with the controversy
between the pool and Union Pacific in
terests. Shares of the latter company were
strong stocks included St. Paul. Reading,
and Tennessee Coal. Profit
taking toward the end caused a shading OF
prices and the close was Irregular. In the
special classes there was an S-point decline
in American Express.
The bond market showed steadlness
throughout the day, but shared only q
slight extent in the strength of the stock
market. Total sales, par value, N,475,O 900.
United States bords were all unchanged
on the last call.
The following are the closing prices on
tha NaU York Stock exchange,