Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-03-03
NEW YORK STOCKS And BONDS
Market is Dull and Prices Drift Aimlessly
and sluggishly,
PRICE OF MONEY STILL A FEATURE
Union Pacific Rises Near Close and
Stimulates Entire List-AmalgR-
mated Copper Subjected to
strong Pressure.

NEW YORK, March 2.-Todays stock
market was a dull affair and prices drifted
sluggishly and rather aimlessly. There was
not much pressure Of liquidation and some
show OF strength was noted during the
early part of the day. But the market
failed to rebound to the extent usual after
portion of the week. Disappointment over
the action of the market caused some dis
couragement amongst speculative holders
and induced a spilling out of stocks from
time to time. The gains of the morning
were mostly amongst the stocks not of the
first Importance and their effect upon senti-
ment was subsequently lessened. 1t seemed
evident that no large demand existed for
securities as yet at the ruling prices. Devel-
opments in the money market were rather
in favor of stocks and the tone of the call
money market was appreciably easier In
spite of the extra demand incident to Fri
days operations which carry over until
Monday under the rules of the Stock CN-
change. Yesterdays high rate of per cent
was not touched and loans were made be-
low per cent very soon after the borrow
ing for the day began. The estimates made
up from reports by the banks of the weeks
currency movement indicated some receipts
on balance from the interior by the eN-
press movement in spite of the current re-
ports Of very heavy shipments by that
means. These reports pointed to the re-
mittance of nearly three-quarters of a mil
lion dollars yesterday and today to Chicago
alone. Bankers here asserted that the move
ment was normal and had no special cause,
growing out OF the recent slight disturbance
in Chicago banking affairs. On the week
! 1t was said that the withdrawal OF 81, I93OOO
by the subtreasury had been sufficiently
offset by the movement from the interior
to bring down the net decrease in cash for
the week to below 100000. The demand
for credits is not confined to the call loan
market and loans for periods up to ninety
days were made today again at 81 to per
cent Foreign exchange also continued to
decline. although discounts were harder at
London and sterling exchange fell back IN
Paris.
The weeks exports of corn declined $50,
600 bushels from last week and suggested
! a question how far the recent enormous eN-
port movement was due to apprehension OF
the going into effect on March of the dis
crimlnative tariff measures by Germany.
| Pennsylvania and Rock Island Joined the
! list of extraordinary increase in net earn
| ings for January over those for the cor
/ responding month of last year. Pennsyl-
| vania's expansion reaching Sl4S3,SO and
| Rock Islands $55O,64S The market wavered
| uncertainty up to the close, winch was
| fairly steady, however. and at considerable
| recoveries. Union Pacific rising to the best
| of the day with sympathetic effect on the
market. Amalgamated Copper was the SUD-
/ iect of conspicuous pressure.
Bonds were Irregular Total sales, par
. value s. $4,000. United States Is, coupon
/ and the old Is advanced 4 per cent, the
new Is registered u and coupon a point on
! call. It
The following were the quotations on the
! New York Stock exchange:
EalA iuh I.nW