Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-06-30
NEW YORK STOCRSAND BONDS
Selling Pressure Continues TO Grow
Throughout the Session.
MARKET WEAK ANO -sEM-DENoRALIztO
Close r. Near the Lowest, with
Material Net Losses in Prac-
tically the Entire
List.

NEW York, June ee.-stocks came upon
the market freely from time 70 time today
in continuance OF the LIQUIDATION move
a sort OF nibbling at prices which made
constant inroads upon values and was
stock The consequences was a growth in
selling pressure until in the final hour the
market took on the weak and denoralized
tone which characterized Wednesdays
break In few cases prices got back TO
a lower level than during the decline Of
The bear pafty shovel rTess caution IN
its operations and made no such raids on
prices as were I'm evidence earlier IN the
eSeek; u was evident that a waiting de-
mnnd existed at the lower levels and this
was attributed to the outstanding shorts
who took the opportunity in this way to
portant incidents bearing on values In
today's news. Money on call was active
| by the banks in preparation for meeting
the July settlement requirements The
fact that this is the last day OF prepara-
the money market at the Stock exchange
| Is wholly nominal on Saturday left room
| for some feeiing that the worst effects Of
! in todays money market. Advtces from
| Washington during the day pointed to the
possibility OF final adjournment OF con-
gress tonight. As large short selling for
\ bear account Is believed to have been based
on apprehensions Of further congressional
| action against corporations, professional
| operators looked for some covering demand
| upon the Adjournment Of congress. The
! argument was heard also that the ad-
ministration program against the trusts has
been outlined leaving no further measures
| to be feared. The seeming restraint with
was accounted for BY these considerations.
| The supposition that money will work
| easier with the turn of the half year has
played a part in the days operations, al
though 1t was pointed out that on pre-
vious occasions the unsettlement in money
has continued for several days after the
| period OF the settlements. The Announce
ment OF $5O0,0O0 gold secured from the Bank
OF. England for export has the efIect OF
confirming confidence that next weeks ex-
gold in London would be secured for New
York. Although the banks have lost-oveT
100000 to the sub-treasury on the weeks
operations. there has been a SUFFICIENT gain
ON the express movement with the interior
to indicate an increase In cash OF about
50. 10000 The weeks liquidation in stocks
is expected to reduce the loan item and
make strong bank return
Stocks which have been most active In
| the speculation continued under notable
pressure. Notwithstanding these restraining
factors. II was concluded that the calling
of loans still affected most directly stoci
market pools and large speculative holdings
in the market. The concurrent weakness
of the Hill railroad stocks and OF tht
United States Steel stocks pointed TO liQui
dalton OF speculative holdings which hav'
. been acquired in connection with the Grea
Northern ore lands deal report. Rumo
: pointed to the closing out Of an importan
speculative account for an estate in process
of settlement Todays reports of earning
of railroads for May made a strong show
ing. with the exception Of that for Reading
; which showed the final effects Of the an
thracite miners strike. The lowest price
of the day were touched in the last hou
and the market closed weak and near tn
lowest with material net losses throughout
Bonds were heavy. Total sales, pa
value. s1,170OO0. United States 3s, coupon
declined u per cent on call
) The following are the quotations on tn
: | Stock exchange: