Omaha daily bee., 1906-07-27
NEW YORK STOCKS AND BONDS
Realizing Sales in Wednesdays FavOriteS
Causes Upward Movement to Halt
SHARP ADVANCE LATE IN SESSION
FaiIure Of Sc. Paul Directors 90 Act
on Ftnsncins Plan Tnkep 10
Mean Merger with Union
PacIac.

NEW YORK. July 26.-speculative sentt-
ment showed itself sensitive still 10 the in
huence OF the Hartman and standard Oh
favorites, or what is equally effectual, what
are accepted as favorites of those powerful
financial forces. Yesterday the general
market advanced because southern PACING,
Onion Pacific and St Paul were strong.
When these stocks we're seen today to be
subjected TO a process of market digesuon
and OF diigent selling on all taNoraoIe
opportunities there was a revulsion from
the feeling created yesterday by the ag-
gressive buying of these stocks. The sus-
picion was aroused that the so-called news
regarding these stocks was result OF the
buying and not the cause Of II. The brok-
ers who were employed to buy the stocks
named yesterday gave the impression that
the Hartman and Standard OIL interests
were buying enormous BLOCKS OF these usual
favorites, and this belief was strongly
prevalent throughout the stock exchange
neighborhood. The reports Of an early div
idend declaration on Southern PACING, win
resulting benefit to Union Pacific from lts
ready credence from the movement OF the
stocks. Today many of the same persons
who accepted these reports were skeptical,
and expressed the conviction that the whoie
movement was skillful manipulation by
James r. Keene. The faith in the ST
Paul plan which was to be promulgated
as result OF the return from Europe
of William Rockefeller and which was
implicitly accepted yesterday, was shaken
stock. and the market Tell into an apath-
etc condition soon after the opening 70
await the meeting Of st. Paul directors and
advanced strongly on the nonacuon OF the
The realizing in yesterdays fsvorites was
obscured for a time by the rising tend
ency Of other stocks But these were less
effective in dominating sentiment than the
ones which were being sold. The most in
fluential support was due to sympathy with
the large buying OF United states steer,
Trade reports from this industry were
highly encouraging, but this was not the
new factor in the market. More impor-
W. at
steamship Baltic had been sighted, having
on board J. p. Morgan, and was expected
to dock during the afternoon. The et-
fectiveness OF the movement in United
States Steel was marred by the backward
ness of the preferred stock and by the
positive depression Of the sinking tund
bonds. The personal element thus Is seen
to have played a large part in the day s
market. Foreign influences continued in
splcuous rally in Russians on the presump-
ton that a further smouldering without
an immediate confagration might be looked
for in Russian affairs. The Bank OF Eng
land reported some deterioration OF condi-
ton, and there was Improvement shown
by the Bank Of France and the Imperial
tinued to decline here and approached to
gold import point again. The small amount
New York city bonds offered yesterday
| were the subject of wide discussion with
unfavorable effect on the opinion of the in
! fest in bonds more than in stocks.
The new upward start in prices came
/ after the announcement of nonaction by
1 the St. Paul directors on the supposed
/ financial plan. This apparently singular &C
/ ton was based upon a speculative assump
/ ton that the delay in the st. Paul nnanc'
] ing heralded an abandonment OF the pro
| posed Pacific coast extension and a com
! bination with Union Pacific The MARI
| closed strong and active all around on this
| assumption.
| Bonds were heavy Total sales pal
value, s, 34l 900. United States new IS ad
vanced Il per cent on call
the following are the qao;S1ons on tbs
| Stock exchange: