Omaha daily bee., 1905-09-06
NEW YORK STOCESANDB BONDS
Sharp Rebound in Prices Follows the Acute
Depression Of Last Week.
WEAK ACCOUNTS ARE CLEARED OUT
Higher Prices in London for Amer
leans and Indications of Heavy
Railway Tramc Causes Gem
eral Firmness.

NEW YORK. Sept 5.-There was a
sharp rebound in prices of stocks To-Day
The demand from the short interest, which
had been largely extended In the course
OF last weeks aggressive bear caInpalen'
was credited with a large part OF the buy
ing The evident fact that the market
had recovered it's resisting power dlscour-
were inclined to cover their short con-
tracts on a large scale.
The market gave every appearance OF
Improvement as a result OF the clearing
out Of weak accounts effected in the course
of last weeks speculation. Top heavy ac-
counts were eliminated to a large ex-
tent and vulnerable pools had paid the
penalty for their injudicious commitments
The foreign markets took favorable view
of American securities and the advance
in prices effected abroad yesterday during
the holiday here was potent factor in
driving the bears to. cover As prices did
not rise above the London level at once,
there was a profit in buying stocks for
London account on the arbtrage opera
tion Of sales made at the higher level be-
mand here was attributed TO this London
buying. The favorable character OF the
DAYS news helped to restore the conf
dence which was shaken while prices were
falling last week. Railroad traffic officials
In speaking of business and prospects were
weekly bulletin Of the weather bureau
spoke with absence of reserve OF excellent
condition and the rapid advance of the
corn crop. Even the cotton crop added
its influence to the side of Improvement
by reason OF the reported condition on Au-
gust 20 issued by the Agricultural depart
! ment, while showing some deterioration
| from the July percentage, the figure was
| so much better than was anticipated in
| the trade, that heavy unloading Of cotton
ana a slump In the price OF that COM
| modify followed.
The bear party in stocks was decidedly
| upset by these various developments. Dur
| ing the first hour Of the market their
| buying was on an enormous scale a larSe
| proportion Of the days total business be-
| ing concluded within that period. Prices
| held stubbornly for some time after the
abatement of the principal demand. But
| late In the day the market showed the
| enect Of the satisfactory demand from
the shorts and prices sagged away again
| Ihere was nothing In the money rate Ia
| prombit speculative activity, but the out.
| iooh In that market continues the sub.
| JeCt or grave consideration. The low con.
4 dlton OF bank reserves and the eKceedins
activity In all lines of business proves the
4 necessity for additional loans to supply
| the new requirements, Hopes OF an active
| renewal of sufficient demand for the cronS
| 70 cause profitable advance in prices are
thus discouraged and speculative enthusi
asm therefore kept in check Prices raj
| neu, however, from the afternoon depres
sion and the market closed firm
Bonds were strong. Total sales M,
! value S5HsO0O United States bonds wer,
| all unchanged on call.
The quotations on the New York stocb
exchange ranged as follows: