Omaha daily bee., 1905-12-21
new YORK STOCKS AND BONDS
Karket Irregular and Reaotionsry or En-
tended Prof. Taking
BANK SCARE FROM NEW ENGLAND
Rumor Of Possible Failures Causes
FURRY TN Call Loans. Prices
sell on Rapidly and
Close il Heavy.

NEW YORK, Dec 2o.-Under cover OF
further advances in certain issues which
have recently been conspicuous for their
strength, todays stock market was sub
Jected TO considerable Liquidation in the
form Of profittakins. As a result the
general no tendency OF the st was irregniar
ket gave ample evidence of Inherent
strength ana resisted with no little sue
cess the efforts OF the short interest, whose
commitments are supposed to have in-
creased materially since Mondays develop
ments in Chicago. II the activity OF specu-
adjacent points are any criterion the met
dent seems to have left no weak spots I'm
the technical position OF the market.
Events which guided the list in one direc-
ton or the other Included easy money on
time and call. a further decline in ex-
change and vague warnings of financial
disaster which emanated from a familiar
New England source.
The most noteworthy feature OF the
early trading, and. indeed of the day, was
Union Pacific, which scored a new high
record on very heavy volume OF busl-
ness ness There was more talk Of buying OF
simply variant Of the many rumors
heard in unofficial quarters. The concur
rent strength OF the HIN railway shares
furnished additional footing for specula-
tive gossip and predictions of a readjust-
ment OF the railway situation In the west
and northwest. That some deal OF great
proportions involving the Hill and Harri-
man properties is under way is the firm
conviction of those who buy and sell securi-
ties, but any. definite information on this
point is probably a. long way OF, In
marked contrast to the strength of Union
Pacific was the weakness of Southern
Pacific This stock has shown heaviness
ever since the recent publication OF its
annual report which was accompanied by
intimation that dividends are not yet in
sight. Peoples Gas was decidedly weak
result Of the coming dividend reduc-
ton and the extreme weakness OF Con-
solidated Gas was presumably in sympathy.
The early advance took in practically all
the grangers and coal carriers, as well as
the trunk lines. In the Industrial group
the metal stocks and Sugar were strong.
London's attitude toward this market was
rather noncommital, closing prices there
for Americans being about equally divided
between gains and losses. Later London
traded In about 10000 shares here, buying
chiefly OF Union Pacific and selling on
balance. Sentiment was inclined to be
bearish and with tbs usual caution London
seemed disposed TO reduce its holdings over
! the approaching holidays.
The hulk OF the day business was done
| in the early hours, trading falling of soon
/ after midday, when the market became
! dull and more narrow, with the trend
| toward lower prices This movement
| gathered its greatest force in the last halt
bank troubles in New England caused d
| furry in call loans, which rose to Is pei
| cent and produced flood Of selling orders
| The heavy offerings of stocks wiped Out
/ the early gains in such issues as Amalga
mated Copper and American Smelling and
Refining and final prices were, in numerous
! instances, below those of the previous day
| Declines Of points or more from tn,
days best prices were made by unioI
western, Reading and Sugar and the clos
ing was heavy. The only noteworthy rail
road returns of the day was the Wander
| bilt lines. New York Central. with De
cember earnings estimated, shows an in
crease in net of more than 81 10000 will
an increase in surplus of about 81, 100000.
| Following were the sales and range o
prices on the Stock exchange today:
Sales. High Low. Close