Omaha daily bee., 1905-08-16
NEW YORK STOCKS AND BONDS
Demand for Stock is Reduced and Msrk ct
is Irregular
PROFIT TAKING CAUSES DECLINE IN PRICES
Movement of Currency West Causes
Banks 20 Become Conservative
in Making Loans for
Speculative Purposes.

NEW YORK, Aug. l5.-The tide OF the
demand for stocks was reduced today and,
while the market showed mixed points OF OF
strength, they were. not so predominate
as for some time past The desire TO take
profits evidently had it's part in the sell
the market to move upwards prompted
an attack in the latter part OF the day
by the bears which showed some signs
OF concert and organization. The attack
had little success In disodging any stock
and rather hasty movement to cover
shorts followed. Some Of the principal
selling was much concentrated in character
and was the ground for the report that
some of the large operators who accumu-
ment were Tightening their loads.
The problem Of the interior demand for
which ti seems to weigh at ali upon the mar
ket Attention to It is stimulated by yes
terday's telegraphic transfer to Chicago OF
$4,000, although the approaching turn In
the tide of the currency movement has
been manifest for some time past in the
payments of internal taxes by the govern
ment, by drafts on their New York cor
respondent bank which is an indirect trans
fer Of requirements upon New York re-
serves. Reports from Chicago show an
opinion amongst brokers there that money
rates are likely soon to work closer: The
great promise of the grain crops indicates
an extraordinary demand for currency to
erect their movement and the stimulating
enect upon business and industry in gen
eral is reflected in growing demand for
credits In the west, which promises the
| full normal requirement on this center.
While the present view of the peace con-
ference - that a favorable outcome will
| result there is the reserve caused by the
| possibility Of its failure, which would un-
questiOnably have some depressing effect
| on the stock market. The beginning OF in
Vestigaton by the Interstate Commerce
| commission Of the charges against the va
| rious railroads and private car lines, which
are charged with violating the regulations
! for uniform rates, was something of a
| weight on the list of railroad stocks which
| were most affected by the pressure to sell
| The corn carrying railroads were relatively
| hrm, except for the realizing sales in
Missouri Pacific and Atchlson New York
| central was the most influential railroad
| 10 make headway against pressure and
| speculative favor turned for the most part
| 70 the industrials and specialties again.
| Ot the high-priced stocks, Great Northern
| preferred, alone, continued the upward
| movement, sustained by professed belief in
| an early disposal of its iron ore lands to
| the United States Steel corporation Buy
| ing Tor London account was an early sus-
| talning factor, the easing of the discount
| rate there prompting some increased de-
| mand for Americans. Net changes here
| snow that the selling pressure was of
| smali erect and the market closed firm
| ana In course of recovery.
| 40 Bonds were firm. Total sales, par value
| $5'b5o,UO United States 2s advanced II and
| the new As 4 per cent on call
| Inc Following was the range Of prices
| on the New York Stock exchange:
lnln grrl. gNT-.