Omaha daily bee., 1905-06-22
NEW YORK STOCKS And BONDS
Market is Animated aud Values Of Leading
Shares Are Higher
EXTENDED SHORT INTERESTS UNCOVERED
Late In the Day Prices Are Unsettled
by Extensive Proht Taking
Doubtful Factors Are
Ignored.

NEW YORK. June A.-The speculative
leadership Tor which the rank ana f1le OF
small traders had been watching in order
TO determine the direction OF their ven
lures asserted itself In the stock market
today ana whipped up snarp price move
ment and a considerable degree OF anima-
ton. Ii was evident that the outstanding
snort interest mad been extended to un-
suspected proportions, owing TO the
temptation to professional operators TO
take tnei short side in a very duIi market.
Inc demand from the uncovered snorts
formed an important element In extend
ing the advance when the aggressive mar
ket leadership had established itself. Inc
ammunition employed by this leadership
was not all of very substantial charac-
ter ana some of the incidents OF the day
were of a kind that would have proved
distinctly discouraging in a market where
depression was the order of the day. But
the long resistance to repeated attack
which the market has shown and the
moderate success in the last two days of
efforts to get prices upwards had gath
cred such cumulative effect that com
prenensive upward movement was the re-
suit. considerable volume OF realizing
sales was found to overhang the market,
placed there By anxious holders who have
been waiting for an opportunity to sell
their stocks. These were absorbed with a
good deal of facility. 1t was not until
late in the day that the movement to take
profits began to make any effective drag
on the advance. BY that time consider
able portion OF the requirement from the
short interest had been supplied The
early movement centered very largely in
SpeCialtles, and United states steel pre-
ferred made an effective leader. Rumors
of large orders for Russian naval recon-
struction were current, and something was
made of the published denial by EXPIRES
ident Schwab of an intention to combine
a number of independent corporations to
compete with the United States Steel cor
pOration.
1t became known that the report Of the
state superintendent of insurance on the
Equitable Life investigation would be
given out tonight and the hope was in
dulged that this might be the last episode
of any sensational character in that long
drawn out subject.
Doubtful factors which were ignored dur
ing the day were crop damage rumors,
reduction in the price of refined sugar,
a passing Of the dividend on Corn Products
preferred and declaration OF the regular
dividend on Lehigh Valley instead Of a
hoped for increase and the discovery OF
fraudulent raising of stock certificates in
Philadelphia. Any one of these incidents
would have unsettled the market at any
time in the recent past The closing OF
a trust company in Philadelphia announced
late today had a disturbing effect The
closing tone was in consequence unsettled
and irregular.
Bonds were firm. Total sales, par value.
| 81, 100000. United States bonds were all un-
changed on call.
The quota tons on the New York Stoch
exchange ranged as follows:
Sales High. Low. Close