Omaha daily bee., 1905-08-26
new YORK STOCKS AND BONDS
Market is Irregular and Narrow, with
Trading Largely Professional,
COURSE OF READING is ERRATIC
Union Pacific, Northern Pacific and
Northwestern Drop from one TO
Two POints-SIight FURRY
in Call Money.

NEW YORK. Aug Z5-The confused sem
timent in the stock market was manifested
today from the very outset. Inc zone va
irregular throughout and trading was mar
row and professional. Yesterdays move
ment in Reading produced a teeling OF rear
which was but partly allayed by me pro
testations of the operators responsible Tor
the movement. Readings course has Gre
ated a technical situation such as the mar
ANYTHING suRgestive of a corner is alarm
ingy reminiscent Another matter whlCn
called for serious reflection was the latest
news regarding the status OF the RUSSO
Japanese peace negotiations. II was gen
orally believed in the best official circles
that the situation had at least reached a
most critical stage The short interest in
the market was not slow to seize upon the
opportunities thus presented. Interest nat
urally conferred around. Reading, Whlch
opened at a fractional decline, but speedily
recovered. Its movements during the Gay,
however, were illustrative of the market
general tone. Following its early recoy-
cry the stock made gain of 10, only TO
fall pa points below It's closing price OF
The market became feverish with de-
Clines OF / to 2h points in a number of the
more active issues, including Union racine,
and Northwestern. Commission houses had
an abundance of selling orders and some
Of the best known brokerage firms were
open sellers of the active list This was
especially true of Union Pacific which was
carried down over 2 points with scarcely
a halt. Most of the selling OF Reading
came from the same sources. The break In
Erie caught many stOp-orders, and there
was an all around unloading of weak bull
accounts. The list steadied in the after
noon, although Reading continued to act
erraticaly. The best tone of the market
was followed by increased periods of dull
ness, which caused traders to increase their
commitments on the short side. This class
as q whole seemed disposed to play for
further reaction and the leaders of the
other side were equally inclined to encour-
age new short accounts. Business dwindled
in the late session and the closing hour
was the dullest of the day. London, which
suffered a setback with a slight shading Of
consols, was not a factor here, selling very
moderately on balance Forecasts OF the
weeks money movements show an apparent
loss by local banks of about $3SOO,UO,
scarcely more than half of the previous
weeks drain. The preliminary crop de-
mand continues, however, $4,000 being
transferred to Chicago and 100000 to New
Orleans.
A feature of the afternoon was a slight
furry in call money, which sent the rate
up to 31s per cent Very little was loaned
at this figure but considerable amounts
were put out at 8 per cent. The rise re-
suited from the demands of belated Dor
rowers.
Bonds were heavy. Total sales, par value,
SO, 1O5, 600 United States Is advanced u per
cent on call
Following were the sales and range Of
prices on the Stock exchange today:
Sales. High Low. Close.