Omaha daily bee., 1906-06-07
NEW YORK STOCKSAND BONDS
Reali1ins Of Profits the Feature Of the Day
Market
Pennsylvania SHARES ARE WEAK
Delay In CompIetinE PariA Loan
Transaction Assigned az the
Cause Money t.
Easier.

NEW YORK, June 6-The realizing Of
profits was rather more conspicuous In to-
days stock market than the new buying
OF stocks but the speculative party which
il conducting the larger share of the op-
erations In the present market did not re-
linquish the efforts to hold prices against
this realizing by support OF special stocks.
There were fewer OF the stocks among the
influential standard issues chosen for that
purpose today than Of the less conspicuous
and low grade industrials. Most Of the sup
porting efforts conferred upon 81. Paul. and
was carried over later into Union Pacific
Outside Of these there was a miscellaneous
list Of specialties which rose from time TO
time and supplemented only slightly the
sustaining effect of the leaders. There was
a decided shrinkage in the volume OF the
market.
1he character OF the trading was but lit
tie changed, and news developments were
little regarded and, in fact. were not of
great Importance. General outside interest
In the market was pronounced to be still
a negligible quantity. Mondays buying
was professedly based TO some extent on
an assumption that an early adjournment
Of congress was probable. The settling to-
day, which was based on professed disap-
pointment over a revised prospect Of an
extended session of the law-making body,
probably came from the same professional
sources. The easing tendency of the local
money market continued and extended 10
rates for time loans carrying over the end
of the year The amount of business done
was reported to be small Another phase
of the money outlook was seen in the ris-
ing course of foreign exchange with the
Increase In local money supplies. Some of
the demand for remittance abroad was re-
ported 10 be provided for payment Of ma
| turing finance bills on which great sums
/ have been borrowed abroad. Banking au-
J thorites consider IL open question still
/ whether the gold imported against the sud
| den emergency of the San Francisco calam-
| ity and which was borrowed in effect i
| not destined to flow back to Europe Will
J the relaxation OF money rates here. rather
! than be retained here against the fal
! money requirements. The admitted delay
! in the completion of Pennsylvania bond is
! sue in Paris adds to the weight OF thii
I consideration as the placing of these bonds
/ Is relied upon to effect a funding OF large
part OF the floating Indebtedness OF this
| market to Paris. Pennsylvania was veal
| again today on the reported delay in com
pleting this transaction. Some stress wal
! laid upon the possible effect upon the mer
| chandise trade balance Of falling OF II
| exports of packing house products, which
| Is threatened a consequence OF the pack
ing houses abuses. With the growing cas-
OF money here there was noticed move
York, the rate at Chicago today falling 4
a discount possible diversion OF the re
turn flow of funds from San Francisco
to Now York to other points Is INDICATED
by this. London discounts were inclined e
Weld today. but Berlin hardened and Pari
sold securities freely in London. Tn
hrmness in the price Of wheat was con
nected with reports OF unfavorable weathe
conditions. The mixed tone OF the marke
continued up to the closing.
Bonds were steady. Total sales, pa
value S. 965 900. United States bonds wer
unchanged on call.