Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-10-24
NEW YORK. STOCKS AND BONDS
Speculative Movement Began Last Week
Continues and Market Ia Active.
OUTSIDE DEMAND INCREASES SLIGHTLY
Conspicuous Feature In the TradinR
IL the Lower Grade Industrials-
Close Is Easy on PrOat
Taking.

NEW YORK, oct 2s-The days market
continued the speculative movement In
augurated the latter part of last week
The market was broad, active and strong
and showed itself susceptible 10 some Of
the normal influences inseparable from a
speculative movement. That is to say, It
was under the necessity Of absorbing the
large amount of profit taking today as
the result of the attractive profits accrued
that the livelier tone Of the speculation
OF last week had induced some growth OF
outside demand for stocks. This facilitated
was accomplished without serious. damage
to values. Some OF the stocks which were
strong last week were held back by this
process throughout the session, but the
strength nevertheless was well diffused and
pretty general.
was by all odds the prominent part still
played by the Industrial stocks Of the
lower grade in the speculation. In the list
Of grains of one point and upwards on
the days transactions, no less than forty
stocks and industrials will be found to
figure While the railroad list was not
to throw that part OF the list into the
background. Only handful of the most
prominent active stocks moved as much
as point, and they were late coming into
the movement. st. Paul was the first of
the railroads to show strength, which was
early announcement of the supposed pro-
1ect OF an extension of the line to he Pa
cine; The railroad equipment stocks nat
ment In the industrials The extraordinary
demand for all kinds OF equipment for
railroads explains the large degree OF the
demand for these securities. The extraordi-
nary success OF the campaign in American
Locomotive In breaking the deadlock in
the speculation last week and giving the
professionals their first taste OF blood.
recommended the fellow members of the
group for experiment on similar lines Re-
ports were In circulation before the open
Ing OF the stock market giving extraordi-
nary ngures or the orders received by the
Pressed Steel Car company and IN pur-
suance to this lntimation OF speculation in
FAVOR or the stock was leader of the
upward movement.
The condition OF railroad traffic Is pro-
nounced to be unprecedented In the ex-
perience Of the oldest managers who pro-
fess to be making every EFFORT IN their
power to avoid committing their companies
TO greater obligations for transportation,
offered and its constantly Increased tide
The condition OF congestion Is said TO have
arrived at state where general business
is Is nseiS 70 suner to an extent from de-
The extraordinary efforts required TO keen
the heavy volume Of freight in movement
aha 70 prevent blockades, is said also to be
| pacity. M "a
Call money in London rose sharply in
connection with the putting aside OF IS, :
600 by the Bank OF England for the India
| council. The discount rate at Berlin also
p pardened again and sterling exchange at
Paris dropped back. With the approach of
the foreign exchange rate here to the
! gold export point the course OF foreign
money markets is scrutinized very closely.
| Inc taxing OF profits on the DAYS rise
| Impaired the gains considerably ana tine
| closing tone was easy
.. B go 6 were steady. Total sales par value
| call. 0iiieu ~ On
Quotations on the New York Stock ex-
change ranged as follows: