Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-06-13
NEW YORK STOCKSAND BONDS
Early Market iS Dull, with Upward Move
ment in High-Priosd Issues.
VALUES SOON BEGIN TO DECLINE
setback Due Largely TO Reports
of CrOP Damage In west
ern and Central
states.

NEW YORK June i2-Further dullness
was shown by the stock market today The
movement for the most part upward in the
early hours was largely In the high priced
issues. such as Delaware & Hudson, the
spring wheat lines, which embraced st.
Paul and the Hin roads. Union Pacific New
York Central, Illinois Central. Pennsylvania
and Its allied lines and the Gould proper
ties Reports OF a coming contest to over
throw the present management OF the Della.
ware Hudson company with charges of
extravaganza and lack of progress, received
little credit inasmuch as Il il generally
known that the stock is closely held and
could hardly be acquired in the open
market. st. Paul and the other grain car
riers were favorably affected at the out
set by the previous days reports OF the
high average shown for spring wheat In the
northwest, Pennsylvania strength fol-
lowed unconirmed rumors of the successful
contamination of the company's Paris loan
night.
The improved showing of the Gould prop
critics was accepted a direct reflection
OF the optimistic statements attributed to
their titular head. There was no other
news to account for the better tone of the
market-certainly none of a specific charac-
ter-thOugh general satisfaction seems to
be felt at the crop and business conditions
of the country. In this connection IL may
be stated that Wall street. especially the
less conservative element, IL viewing with
unusual complacency the adjournment of
congress, now almost in sight. The heaviest
purchases OF stocks today were made by
influential houses whose names are gem
investors. The so-called commission houses
and professionals as a whole were decidedly
less conspicuous In the days business This
would seem to imply that the big interests
which have been under the market for
months past show no disposition to aban-
don their position. Business dwindled and
prices sagged before the end OF the morn
ing session. Traders took a hand and played
for reaction in which they were partly
successful. Undoubtedly the principal rea-
son for the setback OF the late session came
from the weekly crop report which told OF
a lack of rain In Nebraska, Iowa, Illinois,
and Virginia, while severe drouths were
reported from southern Texas and the CEN
trail gulf districts and too much rain In the
upper Missouri valley and upper lake re-
gions. Concurrent with this news came a
boom i'm wheat and the other commodity
markets which seemed TO be engineered py
the coterie OF professionals so often promi-
nent in stocks.
St Paurs upward course was not arrested
despite the statement from an authoritative
source that the company plans Tor imam ~
be announced in the immediate future
That stock was almost the one strong fea-
ture of the late trading, though Pennsyl-
vania held firm. Among the weak issues
were Union Pacific, Amalgamated copper
and Reading, while the general Ilst renecte9d
/ a heavy undertone. The closing was talrly
active with feeble rally which advanced
prices from the lowest level For the mos.
part, however, the days gains were "lpeu
out Money market conditions we're UNI
changed. call loans ruling around per
cent The demand for time loans was llght'
Movements IN foreign tNcilaIlec VIZ I'M
teresting beyond steady absorption OF OlIls.
Returns of currency from the racine coass
were smaller than usual while transfer OF
81. $50 900 to that center for shipment 10 the
Philippines attracted some attention. inns
IL believed TO represent the recent sale or
bonds in his market for the nsular govern
ment, A number of railroad returns, mostly
gross earnings for the first ten months OF
the fiscal year were reported and all showed
marked gains Wabash reported an increase
| OF almost 900 In net for April.
'pondS u,ere irregular Total sales, par
value S2a55 900. United States rs advanced
!, and the IS and old 4s y per cent on cal,
The following was tne Ianse -. P''o
Oi '"S @' saies High Low. Close.