Omaha daily bee., 1906-10-13
NEW YORK STOCKSANDBONDS
Strong Points in the Ksrket Are Net So
Well Sustained az Recently
HEAVY SELLING or UNION PACIFIC
Every Attempt To Lift Prices brought
out Large Oners from UnIdentIaed
SOurces-steeI Common Rises
To Fifty.

NEW YORK. oct. 12-The strong points
in today,s stock market were not 30 well
sustained as recently and there were fewer
OF them. What the weight upon the mar
ket consisted OF was not easy to dis
tlnguish. The unidentified character OF
the selling. however. did not lessen It's
influence on speculative sentiment. II was
especially imposing In Union Pacific and
defeated attempts to lift that stock to
higher level. As the Hartman stocks
have been recognized leaders of the market
for some time past the apparent determina-
ton to sell indefinite amounts of Union
Pacific when the price showed any DISPOSE
tIor TO advance had a sinister effect. An
other feature OF the sentimental effect on
the market was the continued difficulty
Steel TSs stock e R prse sofa az se today
thus disposing Of the suppostion that II
resistihle amounts were for sale also. The
passing Of that barrier seemed to give no
disappointed a hope that the belated move
meut IN that stock was about to take the
leadership in the market.
Persistence Of the rumors that early dtVi-
dend Increases were in prospect for Penn
sylvania, Amalgamated Copper and Amer
lean Smelling were responsible for such
strength as was shown by these stocks.
As efforts to lift prces in different stocks
proved abortlve there was a decided falling
on In the activity OF the market and the
movement became sluggish and irregular.
Some influence was allowed to the money
outlook as restraining force on specula-
ton, although the immediate condition re
mains one of ease and the estimates OF
the weeks currency movement point to q
strong bank return tomorrow. The banks
appear TO have gained between $6OOO,WO
and 100000 during the week. but the
estimates show that the gain is due wholly
to deposits OF government funds and TO re
celpts OF foreign gold. while the interior
continues TO draw on New York by express.
the excess OF shipments over receipts for
the week being in the neighborhood Of
S,50o.OOO New York exchange at Chicago
receded today to % cents discount. showing
the continuance of pressure upon New
York for crop moving purposes. There
IL no probability of a relaxation Of this
pressure for some time to come. IT Is
recognized, however that the import move
ment of gold has been definitely ended by
the rise In the Bank of England discount
rate. II is believed also that the deposit OF
the $4,000 coo offered by the Treasury de-
partment to the banks has been about
completed. thu" ending relief from that
source unless additional measu es are taken
Much interest attaches to the showing OF
the loan item of tomorrow's bank state
ment for the light II will throw on how
far the paying OF of foreign obligations
this week has involved RECEIVERS to new
borrowing here. Tho easing tendency OF
money was sensibly checked today, but
there was no actual stiffening of rates
The reactionary tendency persisted as otter
as efforts were made TO lift prices an6
the market closed heavy.
Bonds were firm. Total sales, par value
s., $4,000. United States bonds were un'
changed on call
The following was the range OF prices or
the New York Stock exchange: