Omaha daily bee., 1906-08-04
NEW NORR STOCKS ANDB BONDS
Market is spOtty and Isolated Instances Of
Strength Are Fewer.
SLUMP IN TRASscONTNtN1M ROADS
Successive disappointment over Ex-
pected Condensation Of RuUors OF
Deals DisspPOints Holders
of These stocks

NEW YORK, Aug. .3.-Today's stock mar
ket became even more spotty than that OF
yesterday and the Isolated instances OF
speculative sentiment in the course OF the
DAY and the tone Of the speculation be-
came less confident and led to a sharp re-
action. This change was derived more from
the action OF the market itself than from
any development in the condition OF bust
tone Of the cali money market may have
partly been responsible. Larger impor-
that ST. Paul aud Union Pacific showed
clear evidence Of being fed out when at
tempts were made to bid them UP, while
Soutnern PACING was given over to positive
The opening course Of prices was quite
seperaliy downwards, but this was at
dealings in foreign markets. in which the
troubled affairs of Russia were once more
most Immediately repaired, in sympathy
with the sharp upbiddinG Of st. Paul and
Union Pacific. Their relapse was the cause
nation on which much OF the accumula-
ton In these stocks has been based. Sue
sessiye di,sappointments oyer the expected
have hung about these stocks for many
weeks proves wearing upon the patience OF
the il-intormed holders except when they
have the example of large buying and ad-
vancing prices before their eyes. The new
features Of strength proved poor substi-
sentiment The rise In New York Central
I was connected with some revival OF some
reports ysus that ? Comprehensive merger Of
/ contemplation. There was a joint advance
! In number OF the north and south trunk
the governments cotton report which was
| expected TO be favorable, but which even
exceeded anticipation. Amalsamated Cop
per was helped by sharp upward move
/ ment in the price OF the metal in the Lon.
don market. But these evidences Of strength
| did not prove wholly convincing in face
| realizing
other quarters Of the market It was
! pointed out also that the first transac.
/ lions which occurred in United States Stee
| were in the opening dealings of Wednes
day, were at the highest prices on the
movement. The 41h touched then for ar
| instant was not equaled afterwards. Th'
! deduction is unavoidable that very large
supply of the stock was ready for the mar
kt to take aops of he eS osr
market was due to the indicated decline
| for the week In the cash holdings OF tn
banks which amounts to A,T7l.ooo on sub
| to be only slightly Offset by the receipts
by express from the interior. II is sup
posed that the subtroasury excess OF re
ceipts, which is largely on account o
Panama in national bond payments, ma
been partly offset by redeposit Of govern
deposits do not go entirely into New Yorl
banks, while bond payments nave COM
almost wholly from that source. The week
settlements also point to some further loai
expansion. The impression OF the pront
taking tendency Of the days market wa
two-point rise in ST. Paul which was me
by an outpouring OF stock which esrrle'
a long list Of active Leaders from M i v 70
fittie recovery and the closing was easy
Bonds were Irregular Total sales, pa
value, 800, 600 United states oonoS "er
Ths t"nowinS are the quotsaons on tn