Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-01-10
NEW YORK STOCKS ANDBONDS
Movement Of Prices from Start to Finish is
Confused and Irregular,
SENSATIONAL RISE IN SOUTHERN IRON
Rumor OF the Absorption OF the
NJ. X. r. by the Burlington
Jsed with Eject 10 Adj
vance values.

NEW YORK. Jan. 9-The movement OF
prices in todays market was confused and
Irregular from start to finish and little re-
NAMED Of the gains at the end Of the day.
The pursuit of the movement to take prof
It's was continued and many OF the most
prominent stocks in the recent movement
were subjected to this process Meantime
new stocks were pushed forward into prom
inence. An additional factor in the iron
movement was the resumption of buying
OF some shares which were subjected to the
profit taking in the early part of the day
There was little news 10 accompany the
various movements and the explanations for
them dealt more with technical market
conditions than with anything bearing on
changes In actual values. While the De-
Cember movement Of prices carried the ma e
jority Of shares to record levels there was
a group Of important securities which did
not rise at any time within measurable dis
lance of previous high records. These have
been the favorites I'm the new speculative
advances of yesterday and today. Penn
sylvania and its allied railroads are notable
examples, the present price level reading
far below the maximum touched in former
speculative campaigns. Tho recent move
nation. although the stock was inclined to
rest today. In the United States Steel
stocks tendency was manifest TO alternate
from one to the other, yesterdays rise in
the common giving place TO steady reaiz-
ing today, while the preferred was pushed
upwards, with strong sentimental effect on
The southern iron stocks made sensa-
! ttonal advances and rumors were revived
ger were being completed. The high priced
northwestern grangers and Pacific moved
upward widely and easily and old stories OF
coming extra disbursements and OF new al
legiances played a part in the movement.
The rumor OF absorption Of the Missouri.
Kansas & Texas by the Burlington and of
the Kansas City Southern by st. Paul were
used with effect. st. Paul itself was among
| the stocks which derived advantage from
its previous failure to share in the adj
vanclng tendency. There were other wide
! movements, but the character of the fac
! tors which moved them was similar to that
! I'm the cases named. Meantime there was
| free realizing In Union Pacific Reading. the
| Coppers and some other stocks While the
| market thus continued to show degree
| OF mixed strength its action conveyed an
| prices than that of yesterday. The falling
| off of the volume OF activity added to this
effect. The failure of a larger outside de-
mand to appear was a disappointment Ia
| large holders of stocks. This was attrib-
| uted to the almost universal belief that
| holiday holdings hang over the market.
which were carried persistently through
| the December money stringency, but on
which holders are waiting to take profits on
| any opportunity.
| The money market showed some further
! foreign exchange keeps alive the problem
| or how far the decline In interest rates
| can go without precipitating outgo OF
gold. Continental discounts moved in ia.
Nor of London today and the Imperial
| Bank of Germany made very strong
| weekly return. The banks here transferred
$4,000 through the subtreasury to Gin.
| cinnau and the rise in the money rate
| 10 per cent contributed to the late re.
action which wiped out most of the days
| gains and made the closing easy
Bonds were firm. Total sales, par value
2.%O,OC0. United States bonds were all un
changed on call
The following was the range of prices or
the New York Stock exchange: