Omaha daily bee., 1903-04-24
NEW YORK STOCKS AND BONDS
suPerstitiOns Slightly Relieved by
Early Gains in New Building.

NEW YORK. April 23.-Members of the
New York Stock exchange were anxious
70 inaugurate the trading in their new
prices, for the same reason that an ex-
perienced nurse wishes to carry a new
born baby upstairs before it shall take a
downward trip. Professional traders in
stocks are proverbially rich in this kind of
wisdom and they began preparations for
TINS mornings demonstration during to-
Gays session in the temporary quarters.
II was even suspected that some of yes
terdays operations on the Consolidated ex-
change during the festivities incident to
the dedication of the new Stock exchange
building was for account of members of the
big exchange, so-called, with the purpose
TO further the proper start in the new
quarters this morning. Apparently a very
brief upward movement was sufficient to
satisfy the solicitous feeling that the
'hoodoo" which has popularly been sup
posed to hang over the market since the
exchange has been in its temporary quar-
ters has been shaken off. At all events,
the rise in prices proved too tempting for
those long of stock to resist and they
began to relieve themselves of their hold
| ings and to realize profits. The most not
able effect of this turn of affairs was the
profound dulness which it produced in
prices also resulted which gradually wiped
out the considerable gains established dur
ing the first hour and forced prices to a
level generally below Tuesdays closing.
The immediate cause of this decline was
not clearly perceptible, but II seemed due
In large part to a distrust of the lonr er
ground offered by the possibility of further
extensive antitrust campaigns.
Immediate influences were favorable to
an advance. The money market gains in
ease each day and six months loans are
negotiated below per cent without diff
Guilty. New York banks are in the market
for commercial paper for the first time in
several months and they are making the
minimum rate of 5 per cent. Some large
loans are reported for nine months period
at per cent, while up to the present time
lenders have avoided extending their ac-
commodations into the autumn period of
| increased demand for money. 1t cannot be
said however. that confidence is universal
| The April returns of national banks to the
comptroller so far as reported show a
| lower percentage of reserves to deposits
| than for either February 6, the date of
| is the nearest corresponding date last year
] TO the present call. This showing increases
| the disposition to be cautious In money
matters until the autumn situation clears
/ up.
Reading was based on the ending of the
lockout Rock Island showed evidence of
| absorption attributed to insiders. A sharp
| increase in Northern Securities ON the curb
resulted from Yesterdays declaration of a
! dividend Consolidated Gas jumped on the
defeat of the municipal lighting measure
| in the state assembly The sympathetic
| effect of these advances was lost when the
stocks began to react. The market. closed
| for the newer issues of bonds, especially
| the per cents selling in the SOS and 9Os.
! Some of the higher grade bonds were
! slightly lower. Total sales, par value,
| clined 4 per cent and the Ss per cent.
The new 4s advanced 4 per cent on the last
| call.