Omaha daily bee., 1905-08-18
NEW YORK STOCESAND BONDS
Early Market is Active and Higher on
Heavy Buying Of Outsiders.
PROFIT TAKING STOPS THE ADVANCE
Close IL Dull and Irregular,
with Several Issues at High
Point for the
Day.

NEW YORK, Aug H. - Nearly 10000
shares of stocks were sold today in the
first hours dealings on the Stock exchange.
The transactions of the first hour are the
most significant Of the day and are the
crucial test OF the tone OF the market in
the majority Of cases. The extreme anima-
tion during that period Of today was con-
VnCing evidence OF the growth OF specu-
latiye interest. Large orders came from
various quarters. Every device was used
to make the opening prices high for the
benefit of those who desired to realize
profits with the advantage Of this growing
outside demand. The accumulated buying
demand was fed steadily during the whole
Of the first hour during the process Of
realizing proft-taking. The result was
more marked as the accumulated buying
orders were worked off. But when this
condition OF affairs became evident there
was a discontinuance Of the pressure TO
sell which threw the market of the middle
portion Of the day into dullness.
Each days news adds to the confidence
In the prosperous outcome of the grain
crops. and the grain carriers held their
conspicuous place in the days market.
held back by the pressure TO realize with
Reading being the conspicuous example,
record during its period Of strength. So did
Erie, which was the strong exception In
the group. Union Pacific was again very
conspicuous and was the subject Of the
velopments. These rumors have taken the
form Of some important development re-
which it is said the expected benefit to
Union Pacific will accrue, by reason or its
large holdings OF Great Northern The
enthusiastic forecasts of the corn crops
helped Missouri Pacific TO an additional
advance
The peace conference at Portsmouth was
the subject Of attentive consideration under
the belief that the critical stage OF the
negotiations had arrived. All signs con-
tinued to point to a feeling of confidence
I'm the financial world in a peace outcome
of the conference and pessimistic utter
ances from diplomatic quarters seemed to
have no power to alter this feeling. The
favorable condition reported by the trade
authority in the iron and steel industry
had its effect on the stocks of companies
connected with various branches OF that
industry. There was some special activity
in the Republic Steel stocks, Induced by
discussion of the possible resumption or
dividends on the preferred stock; The
extra dividend on United States Reduction
and Refining explained the advance In the
stocks of that company. Reports that the
often projected lead merger was again
abandoned depressed National Lead ana
had some effect also on American. Smelting
The money market continued easy ana
therefore received no attention in the STOCK
market The digestive process continued
up to the close, which was made Irregular
bv the heavy profit-taking in some stocks
and the late rise OF about a point In the
United States Steel stocks and some others.
Ronds were - steady. Total sales, par
value 49, $50 .OOA United States 2s advanced
a. per cent on call.
The quotations on the New York Stock
exchange ranged as follows: