Omaha daily bee., 1905-07-13
new YORK STOCKS AND BONDS
Prospects for Bumper Crops Sends Stock
Market Up Again.
GRANGER RAILWAYS MAKE BIG ADVANCE
Demand for Time Loans Causes
Money Rates TO Harden and At
tracts Foreign Funds 20 the
United states.

NEW YORK. July 12-The report Of the
Agricultural department on the condition
Of the cereal crops as Of July j was an
effective sustaining influence on prices Of
stocks today and served to protect the mar
ket against the effect of the continuation
Of yesterdays profit-taking movement. On
the opening rise in prices the selling Of this
character was conspicuous, but with the
persistence Of the frmer tone in the mar
ket the pressure to sell became less urgent
The stocks chosen for the leadership Of the
recovery were Indicative Of the part played
by the crop report on the movement. The
volume of the buying was very moderate
and the decline in the total Of the days
sales from the recently prevailing averages
was perhaps the most significant feature Of
the market.
The movement in the wheat market Was
corroboration of the Importance attached
to the government report In the stock mar
ket and for the first time I'm many days
the prices movement was consistent in the
clining when stocks advanced The tndi-
Gated wheat crop of over 700, 900 bushels
and the possibility of bumper corn crop
were accepted giving fun promise of
profitable traffic for the granger railroads
Some of the high priced closely held stocks
in that group made wide advances on
light absorption. The favorable weather
in the spring wheat region helped the
northern grangers. The failure yesterday
to secure a quorum of Union Pacific di-
rectors was regarded from a revised stand
point as leaving open the possibility Of
later action for increasing the dividend
and discussion of this probability was an
active factor in the market. The demand
Tor time loans Tor the longer periods was
still a feature OF the money market and
the demand was said to come for renewal
from other than Stock exchange circles.
The hardening Of the money market at
tracted offerings OF foreign funds in this
market and the selling of exchange bills On
this account weakened the foreign eX-
change market. The immediate closing OF
subscriptions to the new Japanese loan ap-
portionment was testimony to the large
volume of the applications. and It is eX-
| pected that the allotments will be followed
| by release of borrowings for over-subscrip-
I tions. as there is no discount allowed for
| payments made in advance before August
| 3. The local banks are making preparations,
| however, for the call upon government de-
! posits for Saturday next, as interior banks
| usually meet such requirements by draw
| ing on the New York account The late
| rise in Northern Pacific to 2Olm the high
| est price since the corner in the stock, was
| accompanied by rumors of an intended ex-
| ira dividend, and just before the close the
action increasing the Baltimore & Ohio
seml-annual dividend of 2h per cent was
/ announced. The closing, in consequence,
was firm, but rather dull.
Bonds were irregular. Total sales, par
value. $3,440.OO0. United States bonds were
/ unchanged on call
The following we're the quotations on the
| New York Stock exchange