Omaha daily bee., 1906-08-01
NEW YORK. STOCKS AND BONDS
Prices in Leading Issues Move Upward One
or More Points In First Hour,
CONSOLIDATED GAS DEVELOPS STRENGTH
All of Mondays Decline f. Recovered
Late Rise In United states steel
Causes Rally Near
Close.

NEW YORK. July S1.-Durins the
to move upwards today there was man
@ meme &Rse the nhq ass was SH thus
checked, there was no urgent pressure AilL
the level was little disturbed, in spite OF
stocks which is made clear by the shrink
age in the total dealings for the day.
During the buying movement OF the nrst
hour there were advances of a point or
more in a number OF the transcontinental
railroad stocks-Pennsylvania Amslga-
snS few bsS came mot out Sd on
the advance Of some OF the selling was
attributed to bear account The profess
sional element was inclined to take the
short side on the ground that the advauca
had run TO some length and invited re
action, especially as the outside demand
which appeared yesterday, as the week
end dealings were pronounced to be In
significant.
1t was after the rise Of the first hour
veloped aggressive strength, recovering all
Of yesterdays decline and selling at the
turn in the market yesterday was at
trlbuted very largely TO the break In Con-
solidated Gas, following the announcement
of the suspension of dividends on Brook,
lyn Union Gas The importance attached
to the incident was due to an assumption
that IL represented policy on the, pr
of the Standard OIL party that was likely
to be extended to other properties to meet
the current agitation against corporation
sars AND especially IN the the case Gd Con- ON
cumstances OF that company with the
Brooklyn company, The action OF tho
stock today was regarded as refutation
I Of that superstition although no statement
on the subject was forthcoming from the
executive committee, after this meeting
/ today.
| The market showed no immediate re-
| vival after the apparent removal of this
cause of yesterdays uneasiness Interest
| became torpid and the price movements
/ exceedingly sluggish This was particu-
| lRrly true OF the United states Steel
stocks, which werc held in reserve an
! parently for leadership of the later move
ment. It is doubtful whether the quar-
| terly statement of the net earnings OF tho
! company contained any notable Snrnr'r 8
| in the stocks The statement did not APP
pear in time to enable the facts TO be used
at first hand in the market operations NJ
! the day. But as the time Tor the as
scmbling Of the directors approached,
| large transactions in United states steel,
common, appeared on the tape, and It's
the objective foretold by the speculative
sponsors for the market movement
The weather bureaus weekly, crop but
! letin was noncommital. as usual, but con-
tanned nothing to shake the present con-
| viction of the excellent progress OF tho
crops. The money market was not anected
by the monthly settlements, which are
not important for August, but torelBh
exchange moved up another step and away
from the gold import level. The inhar-
matory condition reported from Russia
Was without effect here, or so far as per
ceptihle abroad, where some confidence
seemed TO be restored over the payments
to be made tomorrow on subscrint'or7 70
the last Russian loan. The late movement
in United States steel carried prices &c
the high level Of the irst hour or above
Bonds were irregular Total sales, -,
value, S1,70s,000 United states bonds
were unchanged on call -,
Stock exchange: