Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-27
sew YORK. STOCKS AND BONDS
Market opsus Firm and Active, with
Values Generally Higher
UNION PACIFIC LEADS The RISE
Call Money Advances to rs Per Cent
and Later Dealings Are Easy
and Lower on Extensive
Proat Taking.

NEW YORK Dec 6.-Further very large
and variegated absorption OF stocks marked
today's proceedings in the stock ma market
cling tendency OF prices was a convincing
demonstra ton OF the confidence in values
and the strong hopes for further ed ave les
Christmas market would prove to have been
overdone on sentimental considerations.
There was a good deal Of admonition TO oe
heard also in various quarters Of Wall
street this morning, exhorting to caution
and conservatism for the last week OF the
the money market and the danger of en-
barrassment to those over-Commttted IN
speculative ventures. The IS per cent money
rate before the close gave point to the
warning. But the course of the early mar
ket soon dissipated the apprehension that
the Christmas advance was over and made
small account OF the warnings OF the con-
servativeS.
The money market seer1s to have no ter
rors to the speculative spirit any iong f,L
stood such flurries in money so many times
this fall that the safety Of the position is
ing before the end OF the year added to the
Indifference with which the possibility OF
another furry was contemplated Such
furry admittedly was not only possible, but
not improbable. The January disbursements
will be larger than usual this year and the
necessity for providing for them VIII be
limlnary pressure will be aggravated the
subsequent realization is expected TO be
correspondingly large But while the prelim-
mary pressure will be thus aggravated, the
subsequent relaxation is expected to be cor
respondingly great. The current specula-
ton is based on the assumption that how
, ever severe the stringency may be this
week II must be short lived and quickly fol-
lowed by decidedly easier conditions In tho
loan market do not bear out this assump-
ton. There continues quite an urgent de-
mand for the shorter periods, including
sixty-day and ninety day loans, and a COM
] IN these periods
which heads the rate at the equivalent at
Z to 8 per cent. Speculative confidence, how
ever continues unimpaired and there was
reported today perceptible growth in the
outside demand for stocks. The profitable
character of Stock exchange business, as
well as the almost universal conviction that
activity OF large scope Is to be looked for
| In the future are indicated by the rapid ad-
vance in the rates for Stock exchange seats.
A sale was reported today at $50, 600, and
numerous bidders were said to be seeking
seats with the lowest Offering at 1850
The aggressive leadership assumed to-
| day by Union Pacific and United States
| Steel stocks was of large effect on senti-
ment. There was no SPECIFIC news regarding
either stock, but a strong impression was
produced by the very general belief that
! the heaviest demand came from sources
near to the control of these companies
! Copper securities of all kinds were animated
and buoyant. The extraordinary movement
in Anaconda found its explanation in the
later report of an enlarged dividend dis
/ bursement. Amalgamated Copper derived
| direct benefit from its large holdings of An
| aconda stock. 1t made its best price in the
! last few minutes of the trading. But the
rest of the market was quite sharply af
fcted by the profit-takng on the days Tis,
which became general after midday anC
which was aggravated by the violent furry
! in money in the last hour. The closing toni
was easy and the days extreme gains were
much impaired.
! Bonds were firm. United States bond
were all unchanged on call. Total sales
! par value, 81. 225,OO0.
Following were the sales and range o
prices on the Stock exchange today:
| Sal I ~ Close