Omaha daily bee., 1905-06-29
NEW YORK STOCKSAND BONDS
Further Heavy Realizing Of Speculative
Profits Feature of the Day
ABsoRpTlyE POWER OF MARKET STRONG
Comprehensive Advance I'm Level of
values in Spite of Large Ofer-
ings-MOney Market
IL Easy.

NEW YORK, June 2s-There was some
further heavy realizing Of speculative prof
It's in todayS stock market but II was eff
fected without making inroads on prices
Inc absorptive power of the market proved
SO impressive that the operations for the
ADVANCE were renewed with confidence The
market at any one time during the day
presented an irregular appearance with
prices advancing at some points and held
steady with others, with conincident profit-
taking, but summing up of results shows
pretty comprehensive advance in the level
OF the market.
The lifting process was shifted from one
quarter to another until no important group
of stocks were left unaffected. Preference
was shown for the Standard dividend pay
Ing railroad stocks but those were most
favorable which have been subject to ru-
mors of intended increases in rate of distrib-
utlon. There was conspicuous reversion
to the Pennsylvania group based on these
suppositions. Reading was included in the
operation and the dividend increase made
only last week was accepted as a mere pre-
urinary to further increase to como.
such was the tenor of the rumors under
the influence of which that stock, after
having advanced to within shade of par
several times recently crossed that figure
aggressively to new record price. The
movement was not confined to the small
dividend payers as shown by the promi-
nence Of the high priced grangers and
a factor in the advance and the fact that
foreign commission houses were returning
borrowed stocks on a large scale prompted
the inference that this buying was to cover
short contracts to a large extent.
The money market continued remarkably
tranquil considering the near approach of
the July requirements. Sterling exchange
yielded still further from the gold export
point here and advanced in Paris so that
there was no inducement of further en-
gagements of gold for export The con-
Viction is professed still by bankers that
the gold movement is destined to Neach con-
siderable proportions. The supposEtion that
Russian indemnity loan is to be provided fol-
was supplemented today by the SUGGESTION
that new japanese loan is in contempla-
ton. Japanese bonds were weak in con-
sequence and their decline here helped To
Ihe slight irregularity of the bond market
Inc bond market in fact showed very little
erect from the usual preliminary Invest
ment demand incident to this season of the
| year.
| Crop news was conflicting and received
little attention from the stock market the
strength of cotton and the weakness of corr
poth being regarded as due to speculative
cauJs to a large extent. The Iron Age
| repirts no relief from the torpidity of tho
pig iron market and the United States Stee
| STICKS made a sluggish response to the day'.
| ayVance. One or two Individual stocks de-
Veloped buoyant tendency late in the day
| put the evidence of realizing In the genera
list aroused suspicion and the closing wa.
| rather unsteady.
Bonds were Irregular Total sales pa,
value, $3,3l5,OO0. United States bonds Uerf
| all unchanged on call.
| The quotations on the New York Stool
exchange ranged as follows:
Col gs-l, 7 a.