Omaha daily bee., 1906-02-17
NEW YORKSTOCKS AND BONDS
Protective Measures Partially Succeed in
Arresting Downward Tendency.
POOR BANK STATEMENT EXPECTED TO-DAY
Hill stocks Are Again Higher ON
Prospects of an Early Melon
Cutting - Bonds Are
Weak.

NEW YORK, Feb. 16-Protective meas
ures for the stock market were centered
upon few points and proved effective in
arresting the decline which gained some
force during the first hour and which was
actively renewed in the final dealings. With
the falling tendency checked there was suf
ficient demand from an uncovered short in
terest to effect n gradual recovery. There
was very notable shrinkage of activity on
this rally. probably more than half of the
days total business being completed dur
Ing the first hour. The demand was lam
guild and dropped TO nothing at the higher
levels on the recovery. The market for
call money was Unexpectedly tranquil and
this had much to do with the Improvement
In sentiment which brought about the mid
did not rise to yesterdays maximum and
in the later part of the day fell below per
cent. The outlook for another poor bank
statement tomorrow was of less effect on
the market than this practical showing of
easier conditions.
bond issues during the week gives promise
OF further loan expansion by the banks.
The preservation of the surplus at anything
more than a nominal figure seems probe
NAUTICAL. The source Of relief for the day 3
money market undoubtedly was by resort to
exchange fell quite violently und the offer
ings Of bankers bills and the proceeds were
placed in local loans. Both Paris and Ber-
lin were reported to be supplying large
sums, which were employed for use in the
bond subscriptions making here. 1t was
asserted also that there would be large for
| to some of the issues but specific informa-
| ton on this point was not forthcoming. The
| extent OF the decline in foreign exchange
| gave rise TO discussion on the part of stock
| market operators OF a possible import move
| ment of gold. Bankers. however, gave no
| countenance to this suppostion so far as
the immediate outlook Is concerned. AS a
| matter of fact, discounts in London and in
Berlin quoted at an advance today. Time
loans for all periods were put firmly on a
basis OF 51h per cent or higher. and the
market for commercial paper also reflected
| the depletion Of supplies in the money mar
ket. OF the sustaining forces in the mar
ket today the causes were a repetition of
| those recently prevailing.
The firmness in Reading reflected hope
! full feeling over the prospect of a settlement
Of the wages dispute with the coal miners
| The Hill stocks went higher again on 80.
pectation OF an early announcement of the
| melon cutting" Lead and Smelling re-
sponded to revived merger talk. Common
! stock subscription privileges were limited al
to account for the rise in New York Cen.
| trail. but without any official authority. The
Indifference of the demand for stocks or
the rally awakened distrust and holdings
| were thrown over freely again at the last
causing a weak and unsettled closing.
Bonds were weak. Total sales. par value
S,6ioO00 United State bonds were all un.
| changed on call.
The following were the quotations on the
V.awNH -