Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-12-14
NEW YORESTOCKS AND BONDS
SEEMINGLY Similar IrAusncsS Have Con-
trary Effect on Different Issues
HARP DECLINE IN ALL HILL SHARES
Sc. Paul Rises BuoyantIy Until Near
Close, when There iH slight
observation-disclosures Market
Again stringent.

NEW YORK, Dec. 1S.-T-he action OF the
STOCK market today was the occasion OF
much petpleNity and finally Of an anxiety.
The contrary effect on different stocks OF
seemingly like influences was difficult OF
Interpretation and ended In a rousing fear
that financial duel of some kind was be-
ing worked out in the stock market. In
TEL est conferred on the HIN railroad stocks
and on St Paul, the former on account
OF the severe weakness which they showed
ana the latter on account OF its practically
single resistance to the weakness which the
Aill stocks Induced by sympathy in the
some time past that the large buying of
st. Paul was In anticipation OF valuable
rights to subscribe to new stock, already
authorized but not yet Issued. In the case
or Great Northern preferred the subscrip-
uon rights have already been conferred
On 81, Sntoc STOCK 2 while in the case OF
Northern Pacific 1t was confidently eX-
pected that plans for new capital issues
would be announced at any moment dur
Ing the day. Yet the Hill stocks kept fall
rose buoyantly on heavy absorption. The
market took on an appearance too much
Tesem bling that preceding the Northern
Pacific corner in May, 1891, to allow the
nerves q stock operators to escape alto
gether an unsettlemCnt. 1t was inferred
that the new capital issues OF the Hill
stocks had brought out renewed differ
ences between the powerful capitalists
which were in conflict In the original strug.
gle for control Of Northern Pacific 1t has
been held as an article of faith in the stock
market ever since the Northern Pacific
struggle was precipitated, with the ultimate
purpose Of control of Burlington, that pre-
cauttonary ownership OF St. Paul shares
had been extended by the two parties to
the former struggle IL was feared that the
two were combating in this buying today
to fortify their respective positions and
that the Union Pacific interests were di-
vesung themselves of their holdings on
Great Northern preferred and Great North
ern In the same connection,
The general topic OF the huge capital
requirements now defining themselves came
I discussion q M
nection with the large stock issues which
are being projected. 1t Is expected that
these Will be largely added to with the
turn of the year. The example Of the
Great Northern stock the heels OF the
new stocks rights was the ground for APP
prehension Of like response in other stocks
when the expected announcement OF stock
Increases are made. The money market
became stringent again today, but this
factor has been so often ignored in the
present speculation that It was given credit
for much force in the days weakness The
large calling OF loans by an important
occasion for some mystery and rather
added to the fears that large financial
( operations might be in progress OF a re-
/ available to the New York market by the
/ treasury relief plan were handed over 10
/ the banks today and there were some addi-
! lions on transfer OF the treasury deposits
] from interior banks. But the total of these
additions to the banks cash made up only
| small proportion Of the weeks losses on
regular subtreasury operations. Banks
continued to readjust their loan account
therefor to repair the deficit in the Legal
reserves. Exchange made a further de-
cline towards the gold import point, but
an outgo of over 100000 gold from London
| to South America added to the scarcity
in that market. At the low price of the
day Great Northern preferred showed q
loss OF IAN from last nights prices anc
OF 22h from the high price yesterday
morning after the details of the stock issue
were published The ore certificates fel
IA. the subscription rights in the outside
market 2h and Northern Pacific 11M St
Pauls extreme rise was ~, but II reacted
over a point before the closing The mar
ket closed weak and not far from the low
est.
Bonds were heavy. Total sales, par value
S2,O22, Oo0 United States bonds were un
changed on call.
The following are the quotations on tn,
New York Stock exchange;