Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-08-08
NEW YORK. STOCKS AND BONDS
Volume Of Transact rs is Larger, but
Price Level is Generally Lower
EARLY FLUCTUATIONS ARE MARION
Last Quotations show MIXED Changes,
with Transcontinental Rail-
ways on the side of the
Declines.

NEW YORK. Aug. THE volume Of
transactions In todnys stock market was
rather better sustained than yesterday
after the normal activity Of the opening
dealings, notwithsta ndng the continued
oppression of the hot wave. But prices did
not fare so we'll 1t was evident that
shifting process was going on, such as Is
usual in the market leadership Of a cam
paign under skilled generalship to facilitate
digestion of profits and to tighten the bur
den Of the large accumulations necessary
to force the upward movement Of prices.
Yesterdays strong market had the effect
OF bringing In some additional outside de-
mand over night and 1t was the execution Of
orders Of this character which made the
activity of the first hour. The narrow
range OF fluctuations on which the large
volume OF business was transacted dis
closed the fact that the supply of stocks
demand. After this stage of the dealing
had been passed the state Of activity with
sharp advances which has recently sig
nalized the Hartman Pacif1cs developed In
other quarters OF the market Pennsylvania
was the aggressive leader Of the market.
But the change in the leadership Of the
movement proved lacking in efficacy and in
the dealings the transcontinental group
began 70 fall of The effect of this on
sentiment proved OF more influence than the
new points of strength. A break in Con-
solidated Gas helped TO unsettle the tone
OF the market. This was based upon the
adjournment OF the executive committee
with a formal announcement that the quar-
| terly dividend, the declaration Of which Is
now due, was not considered. This left a
/ would be left in allegiance by refraining
| from action in this way. This served to
/ cast a shadow on the confident speculative
! hopes which were being INDUCED Of com
! prehensive system Of dividend increases on
/ long list OF stocks Hopes of this kind
were the mainstay OF the principal specu-
| lation going on. Attention was attracted
| by the agitation among stockholders Of the
American Express company for larger div
| idends, which added 10 points to the price
| Of that stock on top OF yesterdays lO-point
| advance The recent increase in the Balu-
] more e. Ohio dividend was brought into re-
! newed consideration as an index Of the
probable policy Of the PENNSYLVANIA rail-
| road with regard to subsidiary companies
which would result In corresponding bene-
/ 1T to the parent company by the increa Sc
| in its income resulting from its stock hold
ings in the minor companies.
! The early buoyancy OF the Hill STOCKS was
summation of the ore land deal. The large
increases in gross earnings for July SHOWN
by the Vanderbilt companies benehted New
! York Central.
kets in London after a three days holiday
helped the early tone here. The weekly
bulletin OF the weather bureau kept up con
fidence in the cond ion OF the crops and az.
| tention was attracted by the heavy export
| movement OF wheat. Foreign exchange
however was firm, good rates for money
being maintained. except that time loans
| for some of the longer dates maturing be.
| yond the first of next year were somewhat
/ easier. Five and six months money, now
ever, was firmly held and 5% per cent was
said TO be Obtainable for January money,
changes and the transcontinental railroads
and some Of the leading Industrial spe
| cIalties were on the side of the decline The
closing tone was heavy. ,,,,
Bonds were heavy. Total sales par value
&. Cos 600 United States bonds were all uh'
The following are the qao;s1ons on tho