Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-11-28
NETWORK STOCKS AND BONDS
Speculative Spirit Shows Itself Indifferent
to Developments Of Day.
GENERAL LIST DULL ON PROFIT TAKING
Metal stocks Are Higher on Advance
in Prices of Copper and Lead
Heavy slump in Rock
Island shares.

NEW YORK, Nov. 21.-rhe speculative
spirit showed itself entirely Indifferent TO
any development Of affairs which did not NOT
point the way that the general enthusiasm
ran. Such incidents as the crumbling away
OF the prices of the Rock Island stocks to-
day or the renewed weakness In Russian
securities abroad have been sufficient In
times past to put an effective check upon
the speculative movement and induce a
days sensational advances continued to &C
cur here and there in the market, with
scarcely any attention being paid TO these
occurrences. A heavy digestion of profits
was effected which is a weakening process
on the technical position of the trading IN
itself
The flare Of prices in the immediate open
ing after last weeks considerable gains
and expansion of activity might have been
disquieting. as such demonstration Is
looked upon as a likely sign of a oulmina-
ton in a speculative movement and as a
precursor of reaction. These and all other
signs were ignored in the determined push
ing of speculative operations today. The
substantial recuperation of the banking po-
sltion disclosed by the Saturday bank state
ment, the fact that Il was obtained by
actual replenishment Of cash reserves and
the easier tendency In todays money mar
ket seemed to Overwhelm all other consider
alton. Special developments helped some
stocks and vague surmises Of developments
were even more effective in others. The
southern iron group was notable example.
On top Of wide advances already achieved
and substantial evidence of an nagerness
to take profits as shown, especially in Ten
y
group developed renewed animation and
jumped in a paroxysmal manner. The old
stories of a merger OF the members of the
group have been authoritativelv denied and
little was heard today Of last weeks report
of an effort to secure Tennessee Coal by
the United States Steel corporation The
suppositiOn was held, however. that strug-
gle for control in the open market might he
involved. The unconcern with which tn"
violent advances seemed to be observed was
against the superstition that severe losses
! were being inflicted upon any considerable
short interest by the furious advances.
| Smelling and Lead proved again the ready
control of the market managers OF these
stocks.
much less conspicuous and there was a
| steady process of profit-taking which pre-
| vented some stocks from rising higher than
! the opening. This was notably true OF
| Steel stocks. The sluggishness in these
| stocks was Offset by the strength devel-
| oped first in st. Paul, and a number of
others in succession. Atchison Cnjoved n
| showing of net earnings for October. A fur
| Their rise In the price of copper here and
| in London awakened movement In Anal
! Ramated Copper. The sustaining influences
| carried the market through the period OF
| the slump in the Rock Island issues with
| only moderate effect and IL was not until
| late in the day that the weight of profit
| taking began TO make general etect
upon prices. There was a violent recovery
! in some of the buoyant industrials In the
| final dealings TO the best prices of the
irregular under the effects Of continued
| profit-taking. Rock Island bonds were weak
I'm sympathy with stocks. otherwise prices
| were very well held. ..
| United States bonds were all unchanged
Following were the sales and range OF
prices on tho Stock exchange today:
| Sales II iRh I Close