Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-07-12
new YORK STOCKS and BONDS
Rush to Sell at Opening Followed by Wide
Decline in Prices.
SUPPORT TOvALUEs NO LONGER MANIFEST
Close IL Above the Lowest of
the Day Owing 10 De-
mand from shorts to
Cover.

NEW YORK, July 1l.-There was a rush
70 sell stocks today and the strong under
gLns demand and the vigorous support
MulCh nave been In evidence for some time
past were no longer manifest The con-
sequence was wide decline in prices
me volume OF dealings was not in excess
u that Tor many single days recently, so
that the task OF supporting prices should
NOT nave been more burdensome than be-
lOFs, put the disposition to do so was
etluently lacking. The selling which had
the most effect on speculative sentiment
was rather ostentatiously by brokers cred
lted with representing the organized parties
supposed to have conducted the leadershin
OF the recent signal rise IN the market
some OF the unofficial explanations of this
selllns pointed to various causes, some of
them with a deep lying suggestion of a dry
humor. Profits had become so attractive
az a result Of the advance, 1t was eN-
plalned, that the successful holders were
ueslrous of reducing their holdings and
getting away from the intense heat he-
ports varied as to whether the coming de-
partures were to be for Europe or simply
Ior a hshlng excursion. The fTankness and
candor OF these explanations and the open
manner IMAM OF the realizing OF their profits
We're taken to argue a lack of astuteness
IN the method of operators OF such skill
ana ana experience and led to suspicious that
already largely completed.
New doubts were heard of the reliability
OF many OF the recent rumors of intended
dividend increases and 1t was acutey
pointed out that many stocks had been adj
Nanced already to a level fully common
suIate with the expected dividend increases.
Inc relaxation of confidence in the future
on the part OF the speculative leaders
ana their spirit Of resignation to the falling
course or prices had markedly depressing
eHect on the miscellaneous Following OF
smaller operators and they showed a will
lngness to make sacrifices to get out OF
their holdings and limit their losses There
was really no news Of effect in the market,
unless II might be the revived agitation
OF the Equitable Life affair and the sus-
plclons aroused by the cotton report
scandal towards the grain condition report
due after the close of the stock market
The compilation of listings at the Stock
exchange for the first six months of the
year shows the largest aggregate Of bonds
Tor any six months and of stocks nine times
the amount listed in the first half of
lsH The bonds representing new capital
exceed by 20 per cent those for the first
halt OF 1901 and more than twice the amount
shown in the first half of any previous
year. Some special predisposing causes are
recognized, especially the advent OF foreign
government issues to this market. But the
great value Of capital thus offered for
notation makes clear incentive for the at
tempt to stimulate interest in the stock
market which has been evident for the last
few weeks. Baltimore & Ohio was the sole
resisting point in the market. Last prices
were above the lowest owing to the demand
from shorts to cover and take profits on
the day, but the closing tone was heavy.
Bonds were easy. Total sales, par value,
&,t4OOOQ United States bonds were I'M
chan@ed on call.
The following were the quotations on the