Omaha daily bee., 1905-09-21
NEW YORK STOCKS ANDBONDS
Rebound in VallsS Due Largely TO sOarOs
Supply Of Floating stSOtS
MONEY SITUATION IS EASIER
RumOr of Important Developments
in Northern Securities Matters
Causes Rise in that
Group.

NEW YORK, Sept a-Nothing In the
news which became public today would ac-
count adequately for the reversal Of specu-
lative sentiment from yesterdays depres-
sion. But the rebound In prices was an ef-
tectve demonstration OF the resilenoy OF
the market from pressure. II proves the
assertion heard generally in the neighbor-
hood Of the stock exchange that the float
sional bear traders find dlfficulty in cover
ing their short contracts. Considerable lines
OF shorts were put yesterday and the buy
most responsible for today's advance.
The market continued narrow and pro
limited number OF stocks is not convincing
Of a widespread demand in the market In
general and commission houses continue to
complain that the outside demand is scanty.
Holders cling to their stocks, however. and
nothing seems effective to diRlOdEe holdings
except the actual withdrawal OF credit by
sure on borrowers has become relaxed and
the general outlook continues so favorable
expected unless the hardening tendency OF
the money market shall be renewed. The
course of the currency movement thus far
this week makes II unlikely that the coming
bank statement will show any notable
shrinkage in the cash reserves and the
trust companies are therefore relieved for
loans from the banks in order to enable
the latter TO scale down deposit liabilities
to keep pace on inroads S|, on their cash The
clearing house has left a small balance TO
the advantage of the banks on the week
thus far. Foreign stock markets seemed to
conclude today that the expected rise to-
morrow in the Bank OF England discount
rate has been adequately provided against.
Reassuring offlcial statements regarding the
Moroccan question relieved apprehension on
that point. The New York market was in
consequence freed from the pressure of for
eign selling and this contributed materially
toward allowing the recovery in prices
The most notable movements OF the day
were traceable to individual influences. Re-
ports of important developments in the
Northern Securities settlement were re-
vived effectively in connection with the ap-
preaching annual meetings OF the Great
that group of stocks stimulated some sym
pathetic strength in other high-prtced rail-
road stocks. The notorious existence OF an
active speculative pool in Reading was
given most OF the credit for the renewed
squirt in that stock The organ Of the an
thracite trade, however, spoke In very
cheerful strain OF the demand in that In
dustry. The annual report of the Central
Railroad Of New Jersey was help 70 that
| trail was aided by it's statement of quarterly
earnings. The revived strength OF Canadian
| Pacific was due to reports OF prosperous
! conditions, which have served before TO HIT
| that stock. Rates for foreign exchange
rose decidedly away from the gold import
/ point. Time money rates were called some
what easier, but call loan rates were held
/ firmly at above 3 per cent.
| Bonds were firm. Total sales, par value
clined u on call.
| Following were the sales and range OF
prices on the Stock exchange today:
] Sales. High. Low. Close