Omaha daily bee., 1906-01-25
NEW YORK STOCKS And BONDS
Market Broad and Active on Extensive
Buying from Outside.
CLOSE WEAK ON HEAVY UNLOADING
Union Pacific Declines Because of
Delay In Announcine dividend
which was Expected
Today.

NEW YORK, Jan. A-Specuative buying
came into the market again this morning In
a flood and put an end temporarily to the
downward course of prices which unsettled
the early market yesterday There was
heavy unloading again before the closing
which was weak; There was not an entire
cessation Of selling to realize profts on a
heavy scale at any time, but the stocks IN
which realizing was most conspicuous yes
Wtb yh, MeI 10 start With they had
some margin to spare for reaction without
being carried back to below last night
level. The complete restoration of wire
c. intimidation with the west was given its
share OF credit for the revived speculation.
But the technical condition Of the market
was much improved by the liquidation Ell
fected yesterday.
With the weak commitments for the
rises taken out. with the large profits on
which precipitated the reaction, with their
realizing lower level of prices 20 attract
with the bear account considerably ex-
tended on the short side to offer potential
support by their necessities to buy stocks 70
cover contracts. the market was in better
position to resume the advance than IL was
able to continue it by the reaction.
The conspicuous feature OF this situation
was the. marked preference shown for
stocks of the cheaper grade. both among
the railroads and industrials. Five separate
dividends are paid and which were up sue
cessively in the trading today and rushed
to a higher level. Gains ranged all the way
mand is normally from the high grade divi-
dend payers to the low grade OF securities.
This rotation has made little progress here
tofore in the present advancing movement
In stocks Amongst the established divi-
dend paying railroad stocks and the more
substantial industrials are many stocks
where new high records have been an almost
daily occurrence for many weeks past
Amongst the low priced stocks, on the
other hand, are scarcely any that have been
carried up to the high records OF l9O1-02 1t
has often been argued that a level of pros
perity which warranted the advance In dlvi-
dend payers to their present prices ought TO
warrant a corresponding advance In non
prospects for dividends. Various attempts
have been made to bring them In line with
the rest of the list, as the manifest dis
crepancy was believed to be preJudicial TO
the credit Of the advance in the seasoned
dividend payers. This was the ground for
today's movement, and very little news of
particular properties was heard TO account
for the various movements. Reports OF
very heavy movements of corn to the gull
ports. as a result of withdrawal of rate re-
auctions by northern lines, helped the south
western group Union Pacific and Amalga-
mated Copper were sustaining factors for
began to crumble the sympathy of the gen.
eral list was immediate. Action on the
Union Pacific dividend has usually been
taken before this period and when the eN'
ecutive committee adjourned without action
today misgivings arose over the increase In
the rate which had been counted on. The
low priced stocks saved some remnants OF
their earlier gains, but there were some
threatening breaks in the high priced
stocks, especially St. Paul, Reading and the
Pacifics, and the closing tone was weak.
Bonds were irregular. Total sales, pal
value, $4,000. United States old n de.
clined ss per cent on call.
The following were the quotations on thu
RYChanCas